CP Rail CEO aims to tamp down talk of K C Southern bidding war bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
Winnipeg Free Press By: Ross Marowits, The Canadian Press Posted:
Last Modified: 5:38 PM CDT Monday, Apr. 26, 2021 Save to Read Later
Canadian National Railway has boosted its earnings guidance for the year as it anticipates a recovery of the North American economy.
A CN rail worker stands on an idle locomotive in Burnaby, B.C., on Friday, November 27, 2020. THE CANADIAN PRESS/Darryl Dyck
Canadian National Railway has boosted its earnings guidance for the year as it anticipates a recovery of the North American economy. The economy ahead of us looks good. The operating metrics are solid. So a lot of good things that look good for the quarters to come, CEO Jean-Jacques Ruest said in a conference call about first-quarter results.
A merger between CP and KCS would result in the fewest overlapping routes compared with any other Class l railroad, said the U.S. Surface Transportation Board. If approved, the combination of CP and KCS, the sixth largest and seventh largest Class I railroads, respectively, would still result in the smallest Class I railroad, based on U.S. operating revenues, the U.S. regulator said.
Following the regulator s decision, CP CEO Keith Creel told KCS president and CEO Pat Ottensmeyer to consider the regulatory issues in CN s proposal. I am confident that you and your Board have a thorough understanding of all of the dimensions of competition between KCS and CN, wrote Creel in a letter to Ottensmeyer.
CN Rail upgrades 2021 earnings forecast despite slight drop in Q1 profits, revenues - Medicine Hat NewsMedicine Hat News medicinehatnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from medicinehatnews.com Daily Mail and Mail on Sunday newspapers.