Latest news with #CanadianNationalRailwayCo.
Global News
7 days ago
- General
- Global News
CN train derailment halts some passenger trains in southwestern Ontario: Via Rail
An investigation is underway after a Canadian National Railway Co. train derailed in southwestern Ontario this morning, halting passenger train service. The Transportation Safety Board of Canada says it is sending a team of investigators to Paris, Ont., to gather evidence and determine what happened. Get daily National news Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day. Sign up for daily National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy CN says about two dozen railcars and one locomotive derailed and remained upright with no reports of injuries, leaks, spills or fires and no blocked crossings. Via Rail says rail traffic has been 'completely halted' in the surrounding area and there are significant service disruptions. The railway company says affected routes have either been cancelled or will operate on alternative tracks. It says affected passengers will be informed directly of the changes and they are advised to check the status of their trains online.
Hamilton Spectator
23-07-2025
- Business
- Hamilton Spectator
S&P/TSX composite closes higher, U.S. markets up after U.S.-Japan trade deal
TORONTO - Gains in consumer and financial stocks helped lift Canada's main stock index to finish higher Wednesday, while U.S. markets reached new highs after the announcement of a U.S.-Japan trade deal. The S&P/TSX composite index was up 51.98 points at 27,416.41. In New York, the Dow Jones industrial average was up 507.85 points at 45,010.29. The S&P 500 index was up 49.29 points at 6,358.91, adding 0.8 per cent to its all-time high. Meanwhile, the Nasdaq composite was up 127.33 points at 21,020.02, climbing 0.6 per cent to hit its own record. 'Clearly market participants like another piece of the clarity puzzle falling into place with the arrangement overnight between the U.S. and Japan and also Indonesia and the Philippines yesterday,' said Carol Schleif, chief market strategist at BMO Private Wealth. U.S. President Donald Trump announced a trade framework that would place a 15 per cent tax on imports coming from Japan. That's lower than the 25 per cent rate Trump had earlier said would kick in on Aug. 1. 'Every piece of clarity that comes through, markets are really liking because they really desperately want to move beyond the tariff issue,' she said. Trump has proposed stiff taxes on imports from around the world, which carry the double-edged risk of driving up inflation for U.S. households while slowing the economy. But many of Trump's tariffs are currently on pause, giving time to reach deals with other countries that could lower rates. Trump also announced a trade agreement with the Philippines on Tuesday. Over the long run, Schleif said it is critical for the U.S. to get deals with trading partners like China, Mexico and Canada. She noted the narrative regarding tariffs has 'shifted more positive.' Ahead of the looming Aug. 1 tariff deadline, when a pause on a slew of U.S. tariffs is set to expire, Schleif said market participants don't seem overly concerned. 'I think the lesson learned all year is that the deadlines are meant to try to accelerate the conversation, not necessarily as a hard and fast rule,' she said. 'President Trump and his administration clearly want to get stuff done and done quickly, and they don't have patience for the way diplomacy usually works, where it takes a very long time and lots of handshakes and lots and meetings. They're definitely having lots of meetings, but it's on an accelerated schedule, and they're trying to get a lot of this stuff buttoned up.' Going forward, Schleif said she expects equity markets to face some tailwinds. 'Globally, there are a lot of questions about how much longer this can persist. But the interesting thing is the dynamics on the globe are pretty positive for equity markets,' she said. On the TSX, Canadian National Railway Co. was one of the largest downside contributors a day after it cut its outlook amid trade volatility. CN shares finished 4.17 per cent lower on Wednesday. The Canadian dollar traded for 73.48 cents US compared with 73.34 cents US on Tuesday. The September crude oil contract was down six cents US at US$65.25 per barrel. The August gold contract was down US$46.10 at US$3,397.60 an ounce. This report by The Canadian Press was first published July 23, 2025. — With files from The Associated Press. Companies in this story: (TSX: GSPTSE, TSX: CADUSD, TSX: CNR)
Toronto Star
22-07-2025
- Business
- Toronto Star
CN Rail lowers earnings expectations, cuts outlook amid trade volatility
MONTREAL - Canadian National Railway Co. reported its net income inched up to $1.17 billion during its second quarter compared with last year, as it said the trade uncertainty is making it difficult for it to provide investors with an outlook. The Montreal-based company says revenue fell about one per cent, to $4.27 billion compared with $4.33 billion a year earlier.
Winnipeg Free Press
22-07-2025
- Business
- Winnipeg Free Press
CN Rail lowers earnings expectations, cuts outlook amid trade volatility
MONTREAL – Canadian National Railway Co. reported its net income inched up to $1.17 billion during its second quarter compared with last year, as it said the trade uncertainty is making it difficult for it to provide investors with an outlook. The Montreal-based company says revenue fell about one per cent, to $4.27 billion compared with $4.33 billion a year earlier. Diluted earnings per share for the quarter came in at $1.87, up from $1.75 a year earlier. CN lowered its 2025 forecast for adjusted diluted earnings per share growth, saying it now expects growth in the mid to high single-digit range. A previous estimate from CN expected adjusted diluted earnings per share to increase between 10 and 15 per cent for 2025. CN says it is removing its 2024-26 financial outlook given continued uncertainty surrounding trade and tariff uncertainty. This report by The Canadian Press was first published July 22, 2025. Companies in this story: (TSX:CNR)
Ottawa Citizen
02-05-2025
- Business
- Ottawa Citizen
CN Rail holds firm on financial outlook amid tariff uncertainty
Article content Canada's largest railway says there is a higher risk of recession in both Canada and the United States due to the trade war initiated by U.S. President Donald Trump, but it hasn't impacted its outlook yet. Article content Article content 'There's no question that uncertainty has increased over the last few months and we're seeing a heightened risk of recession in both Canada and the U.S.,' Canadian National Railway Co. chief executive Tracy Robinson said during a first-quarter earnings call with analysts. 'The resiliency we saw is again proof that our operating model is the right one for this railroad.' Article content Article content The Montreal-based railway reported revenues of $4.4 billion in the first quarter, which is up four per cent from the $4.25 billion recorded a year ago, and net income of $1.16 billion, an increase from $1.1 billion in the same timeframe. Article content Article content Strong grain and fertilizer shipping, along with coal and petrochemicals, primarily drove revenue growth for CN Rail. Currently, its volumes are not being impacted by the uncertainty created by tariffs and other trade-related issues, but Robinson said this may not be the case in the near future. Article content Nevertheless, the railway is still expecting to deliver earnings per share growth of 10 per cent to 15 per cent, while rival Canadian Pacific Kansas City Ltd. lowered its outlook on Wednesday. Article content Robinson said CN Rail is optimistic that the U.S. will be able to reach new trade agreements with Canada, China other countries and is projecting year-over-year volume growth. Article content 'CN is well positioned to enable global trade regardless of potential changes in trade patterns,' she said. Article content Article content Remi Lalonde, CN Rail's chief commercial officer, said many customers are taking a wait-and-see approach with regards to tariffs, and there are some sectors of the railway's business being impacted since some companies are pausing shipments to avoid tariffs, reducing production or building inventory. Article content Article content 'The tariffs are starting to bite and we're seeing that in the intermodal business,' he said. 'We're taking a bit more of a cautious approach to some of the other segments, the metals and mining, the autos in particular.' Article content CN Rail also reached an agreement with its Canadian train operators and conductors through arbitration during the first quarter. Article content Robinson said the agreement is for three years with annual wage increases of three per cent, which she said was in line with the company's expectations. She said progress has also been made in reaching agreements with workers within the company's U.S. operations.
