Latest news with #CanadianPacific
Wall Street Journal
4 days ago
- Business
- Wall Street Journal
Canadian Pacific Kansas City Gets Ruling for New Collective Bargaining Pacts
Canadian Pacific Kansas City has received a ruling establishing new collective bargaining agreements with two units from the Teamsters Canada Rail Conference. The company said Friday the new four-year contracts include annual wage increases of 3%, effective from Jan. 1, 2024, through Dec. 31, 2027.
UPI
7 days ago
- Politics
- UPI
On This Day, May 29: Charles II restored to English throne
1 of 5 | On May 29, 1660, Charles II was restored to the English throne. Image courtesy of Britain's National Portrait Gallery On this date in history: In 1660, Charles II was restored to the English throne. It was also the monarch's 30th birthday. In 1790, Rhode Island became the last of the original 13 states to ratify the U.S. Constitution. In 1914, the Canadian Pacific Transatlantic liner Empress of Ireland sank in the early-morning hours following a collision with the liner Storstadt, a much smaller vessel, in Canada's Gulf of St. Lawrence. More than 1,000 people died in what is the largest maritime accident in Canadian peacetime history. In 1953, Edmund Hillary of New Zealand and Tenzing Norgay of Nepal became the first humans to reach the top of Mount Everest. In 1977, Janet Guthrie became the first woman to compete in the Indianapolis 500. She completed 27 laps before her car became disabled. On the same day in 2005, Danica Patrick became the first woman to lead during the same race. In 1985, British soccer fans attacked Italian fans preceding the European Cup final in Brussels. The resulting stadium stampede killed 38 people and injured 400. In 1990, renegade Communist Boris Yeltsin was elected president of Russia. File Photo by Martin Jeong/UPI In 1996, in Israel's first selection of a prime minister by direct vote, Benjamin Netanyahu defeated Shimon Peres. The margin of victory was less than 1 percent. In 1997, Zaire rebel leader Laurent Kabila was sworn in as president of what was again being called the Democratic Republic of the Congo. He was assassinated in 2001. In 2004, the National World War II memorial was dedicated on the National Mall in Washington. Thousands of veterans of the war, which ended nearly 59 years earlier, attended the ceremony. File Photo by Greg Whitesell/UPI In 2009, U.S. music producer Phil Spector was sentenced to 19 years to life in prison for the 2003 slaying of actress Lana Carlson. In 2010, two mosques of a religious minority in Pakistan were attacked by intruders firing weapons and throwing grenades. Officials put the death toll at 98. In 2018, a Harvard study determined at least 4,645 people in Puerto Rico died as a result of Hurricane Maria, a sharp contrast to the official government death toll of 64. In 2019, special counsel Robert Mueller released his first public statement, saying that while there's no evidence President Donald Trump colluded with Russian efforts to interfere in the 2016 presidential election, there were several "episodes" in which he obstructed justice. In 2024, South Africa's African National Congress failed to win a parliamentary majority in the general election for the first time since apartheid. President Cyril Ramaphosa was still able to form a coalition government. File Photo by Stringer/EPA-EFE
Yahoo
28-05-2025
- Business
- Yahoo
Billionaire Investor Bill Ackman Just Sold This Railway Stock 'With Regret' So He Could Buy the Dip on a Mag Seven Stock At a "Uniquely Attractive Time"
Bill Ackman has become one of the more popular investors to watch in today's market. The outspoken hedge fund billionaire runs a 10-stock portfolio valued at roughly $12 billion. Ackman sold a stock to make room for a Magnificent Seven stock that got hit hard by the tariff-induced sell-off. 10 stocks we like better than Amazon › Billionaire investor Bill Ackman has become one of the modern-day must-watch investors. Ackman runs Pershing Square Capital Management, which manages a stock portfolio for Pershing Square Holdings. Pershing's equity holdings are valued at roughly $12 billion, and Ackman has aspirations to turn Pershing into the next Berkshire Hathaway. This makes all of Ackman's moves incredibly interesting to market watchers, who are always trying to see what some of the best and brightest investors are up to. In the current quarter, Ackman and his team at Pershing recently disclosed that they sold one of their railway stocks "with regret" in order to purchase a Magnificent Seven stock at a "uniquely attractive time." Although these recent stock moves by Pershing likely won't show up in filings until August, Ackman, along with Pershing's management team, discussed them on a recent quarterly earnings call. The first big move Pershing disclosed was the decision to sell Canadian Pacific Kansas City (NYSE: CP), a Canadian railroad holding company. Pershing first purchased a stake in the business in 2022. The railway operates in Canada and the U.S., moving numerous commodities and consumer goods through 13,000 miles of rail that goes through areas such as Quebec, British Columbia, and the Northeast and Midwest regions of the U.S. In 2023, Canadian Pacific completed its $31 billion acquisition of Kansas City Southern to form this company, which also gave it access to transportation routes in Mexico. The acquisition made Canadian Pacific Kansas City the only railroad company with a single-line railway connecting Canada, the U.S., and Mexico. The stock has performed pretty well during the past five years, up close to 67% (as of May 23). During the call, Ackman said: "[T]his is one of those positions where we sell with regret, but want to be super clear that we think extremely highly of the Canadian Pacific team, [CEO] Keith [Creel] as a person and as a leader." Pershing's Chief Investment Officer Ryan Israel added that while Canadian Pacific is a "wonderful business... we judged actually it was one of the more sensitive businesses economically and to tariffs relative to the rest of the portfolio." Pershing already owns shares of Alphabet, but the reason the fund sold Canadian Pacific was so it could make room to buy Amazon (NASDAQ: AMZN) at a "uniquely attractive time," according to Israel. Israel noted that Pershing's approach involves following hundreds of businesses that the fund would like to own when the price and potential returns become attractive. Amazon fell into that bucket after the sell-off in April. Pershing likes the fact that Amazon has two strong businesses with the retail e-commerce platform, as well as Amazon Web Services (AWS). AWS services the cloud needs of other companies in a more efficient manner than companies could do so on their own, according to Israel: Amazon is sort of the 800-pound gorilla in that business (cloud), where there's only three players and they have over 40% market share, and we think the future is incredibly bright for that business... less than 20% of all of the IT workloads are actually in the cloud today. We think going forward maybe as much as 80%... should be in those types of environments. So that part of the business is amazing. While AWS might be the big draw for many, Israel said Pershing really likes the revenue diversity and also appreciates the scale Amazon has been able to amass for both businesses, which creates higher profit margins. In the first quarter of the year, AWS revenue rose 17% year over year. Furthermore, Chief Executive Officer Andy Jassy previously said he thinks that many sellers on its platform would be able to pass some of the higher costs from tariffs on to consumers. While Amazon has significant exposure to China, tensions have de-escalated somewhat with both countries lowering tariff rates. Trading at less than 34 times forward earnings, Amazon's valuation is much lower than its five-year average of 39. Consumer spending on the platform may slow in a recessionary environment, but I'd expect the company to be able to navigate most economic environments, and the promise of the AWS business alone makes the stock appealing. Before you buy stock in Amazon, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Amazon wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $639,271!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $804,688!* Now, it's worth noting Stock Advisor's total average return is 957% — a market-crushing outperformance compared to 167% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Bram Berkowitz has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Amazon, Berkshire Hathaway, and Canadian Pacific Kansas City. The Motley Fool has a disclosure policy. Billionaire Investor Bill Ackman Just Sold This Railway Stock 'With Regret' So He Could Buy the Dip on a Mag Seven Stock At a "Uniquely Attractive Time" was originally published by The Motley Fool
Yahoo
28-05-2025
- Business
- Yahoo
Billionaire Investor Bill Ackman Just Sold This Railway Stock 'With Regret' So He Could Buy the Dip on a Mag Seven Stock At a "Uniquely Attractive Time"
Bill Ackman has become one of the more popular investors to watch in today's market. The outspoken hedge fund billionaire runs a 10-stock portfolio valued at roughly $12 billion. Ackman sold a stock to make room for a Magnificent Seven stock that got hit hard by the tariff-induced sell-off. 10 stocks we like better than Amazon › Billionaire investor Bill Ackman has become one of the modern-day must-watch investors. Ackman runs Pershing Square Capital Management, which manages a stock portfolio for Pershing Square Holdings. Pershing's equity holdings are valued at roughly $12 billion, and Ackman has aspirations to turn Pershing into the next Berkshire Hathaway. This makes all of Ackman's moves incredibly interesting to market watchers, who are always trying to see what some of the best and brightest investors are up to. In the current quarter, Ackman and his team at Pershing recently disclosed that they sold one of their railway stocks "with regret" in order to purchase a Magnificent Seven stock at a "uniquely attractive time." Although these recent stock moves by Pershing likely won't show up in filings until August, Ackman, along with Pershing's management team, discussed them on a recent quarterly earnings call. The first big move Pershing disclosed was the decision to sell Canadian Pacific Kansas City (NYSE: CP), a Canadian railroad holding company. Pershing first purchased a stake in the business in 2022. The railway operates in Canada and the U.S., moving numerous commodities and consumer goods through 13,000 miles of rail that goes through areas such as Quebec, British Columbia, and the Northeast and Midwest regions of the U.S. In 2023, Canadian Pacific completed its $31 billion acquisition of Kansas City Southern to form this company, which also gave it access to transportation routes in Mexico. The acquisition made Canadian Pacific Kansas City the only railroad company with a single-line railway connecting Canada, the U.S., and Mexico. The stock has performed pretty well during the past five years, up close to 67% (as of May 23). During the call, Ackman said: "[T]his is one of those positions where we sell with regret, but want to be super clear that we think extremely highly of the Canadian Pacific team, [CEO] Keith [Creel] as a person and as a leader." Pershing's Chief Investment Officer Ryan Israel added that while Canadian Pacific is a "wonderful business... we judged actually it was one of the more sensitive businesses economically and to tariffs relative to the rest of the portfolio." Pershing already owns shares of Alphabet, but the reason the fund sold Canadian Pacific was so it could make room to buy Amazon (NASDAQ: AMZN) at a "uniquely attractive time," according to Israel. Israel noted that Pershing's approach involves following hundreds of businesses that the fund would like to own when the price and potential returns become attractive. Amazon fell into that bucket after the sell-off in April. Pershing likes the fact that Amazon has two strong businesses with the retail e-commerce platform, as well as Amazon Web Services (AWS). AWS services the cloud needs of other companies in a more efficient manner than companies could do so on their own, according to Israel: Amazon is sort of the 800-pound gorilla in that business (cloud), where there's only three players and they have over 40% market share, and we think the future is incredibly bright for that business... less than 20% of all of the IT workloads are actually in the cloud today. We think going forward maybe as much as 80%... should be in those types of environments. So that part of the business is amazing. While AWS might be the big draw for many, Israel said Pershing really likes the revenue diversity and also appreciates the scale Amazon has been able to amass for both businesses, which creates higher profit margins. In the first quarter of the year, AWS revenue rose 17% year over year. Furthermore, Chief Executive Officer Andy Jassy previously said he thinks that many sellers on its platform would be able to pass some of the higher costs from tariffs on to consumers. While Amazon has significant exposure to China, tensions have de-escalated somewhat with both countries lowering tariff rates. Trading at less than 34 times forward earnings, Amazon's valuation is much lower than its five-year average of 39. Consumer spending on the platform may slow in a recessionary environment, but I'd expect the company to be able to navigate most economic environments, and the promise of the AWS business alone makes the stock appealing. Before you buy stock in Amazon, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Amazon wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $639,271!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $804,688!* Now, it's worth noting Stock Advisor's total average return is 957% — a market-crushing outperformance compared to 167% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Bram Berkowitz has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Amazon, Berkshire Hathaway, and Canadian Pacific Kansas City. The Motley Fool has a disclosure policy. Billionaire Investor Bill Ackman Just Sold This Railway Stock 'With Regret' So He Could Buy the Dip on a Mag Seven Stock At a "Uniquely Attractive Time" was originally published by The Motley Fool
The Province
17-05-2025
- General
- The Province
This Day in History, 1942: The Empress of Asia is sunk during the Second World War
The Canadian Pacific ship was built in 1912 as a luxury passenger liner, but met its demise as a troop carrier during the Second World War Departure of the Canadian Pacific steamship Empress of Asia from Vancouver, 1930. Stuart Thomson, Vancouver Archives On May 19, 1942, Vancouverites woke to shocking news: the iconic Canadian Pacific steamship Empress of Asia had been sunk near Singapore. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Exclusive articles by top sports columnists Patrick Johnston, Ben Kuzma, J.J. Abrams and others. Plus, Canucks Report, Sports and Headline News newsletters and events. Unlimited online access to The Province and 15 news sites with one account. The Province ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles and comics, including the New York Times Crossword. Support local journalism. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Exclusive articles by top sports columnists Patrick Johnston, Ben Kuzma, J.J. Abrams and others. Plus, Canucks Report, Sports and Headline News newsletters and events. Unlimited online access to The Province and 15 news sites with one account. The Province ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles and comics, including the New York Times Crossword. Support local journalism. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors 'EMPRESS OF ASIA FUNERAL PYRE,' screamed an all-capital letter headline in the Vancouver Daily Province. 'Giant Canadian Liner Now Pile of Twisted Steel in East Indies.' Built as a luxurious passenger ship for Canadian Pacific in 1912, during the Second World War the Empress of Asia had been converted to a military transport. It was bringing British troops to Singapore when it was attacked by Japanese planes. But news that it had been sunk was delayed over three months by the British admiralty — the ship had actually gone down Feb. 5. The Empress of Asia was in a convoy of four transport ships escorted by the British cruise Exeter when the convoy was attacked by 27 Japanese planes. 'The Empress was last in line and came in for a severe attack, but escaped any direct hits, although bomb splinters damaged lifeboats and deck planking,' said a Canadian Press story in the Vancouver Sun. Essential reading for hockey fans who eat, sleep, Canucks, repeat. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. 'The lethal attack came while the convoy was approaching Sultan Shoal, 16 miles from Keppel harbour…' the story described as pilots had to slow down to travel through the mines area. CPR steamship Empress of Asia from the Lion's Gate Bridge, 1939. James Crookall / Vancouver Archives The ship's chief officer Donald Smith said 'successive waves of low dive-bombers flew over (the ship) at an estimated height of 600 feet.' 'Finally the ship was hit, as far as can be ascertained, in three places simultaneously — forward of No. 1 funnel, after end of the lounge dome, and through cabin No. 126 on the starboard side. 'The bombs penetrated through all decks down to the Fan Flats, causing casualties and starting fires. Although fire parties sprang into action immediately, there was no water available, apparently due to damaged mains. The fire was soon out of control.' Incredibly, almost everyone on board was rescued when the Empress of Asia sank. This advertisement has not loaded yet, but your article continues below. 'Of 413 crew members and 2.235 troops on board, there were only 16 (killed),' said Dan Black, author of a new book, Oceans of Fate: Peace and Peril Aboard the Steamship Empress of Asia. 'An Australian warship, the Yarra, came alongside and did a very courageous maneuver. She was able to nudge herself along her port quarter and was able to take on something like 1200 to 1600 men off the Asia.' A May 19, 1942 story put it this way: 'The little fighting ship sidled up to the blazing liner and took off the men, all the time keeping her guns pumping lead into the bomber-filled skies.' The Vancouver Sun reported that 37 Vancouver men were aboard the Empress of Asia when it was attacked. (Vancouver had been its home port before the war.) Twenty-five-year-old Douglas Richard Elworthy of 26 East 7th Ave., Vancouver, had been killed, but the other 36 had survived. The news of the sinking had been delayed so long, 22 survivors were back in Vancouver when the tragedy was announced. This advertisement has not loaded yet, but your article continues below. Originally a luxury liner with a white hull, the Empress of Asia was dulled down and painted grey during the Second World War. This photo ran on the front of the Vancouver Sun on May 19, 1942. The Empress of Asia was the second big Canadian Pacific ship to be the lost in the Second World War: the Empress of Britain had been sunk off the coast of Ireland on Oct. 28, 1940. The Empress of Asia was built by the Fairfield Shipbuilding Company on the River Clyde near Glasgow, Scotland. She was launched in November 1912, and had a twin ship, the Empress of Russia. 'Each ship measures 590 feet in length, 68 feet in breadth, and 46 feet in depth, and is of 15,000 ton gross,' said the Dec. 13, 1912 Province. 'The contract speed is 18 knots per hour. Each has accommodation for 1,100 passengers, 200 first class, 100 second class and 800 third class.' The large Canadian Pacific ships plying the Atlantic and Pacific were known as 'the White Empresses' for their gleaming white hulls. They were a key part of the CP motto, 'Canadian Pacific spans the world,' thanks to its railway and steamship lines. This advertisement has not loaded yet, but your article continues below. The Empress of Asia arrived in Vancouver on Aug. 31, 1913. After a couple of years as a luxury liner, she was taken over by the British navy during the First World War. She became a passenger liner again in the 1920s and 30s. An incredibly detailed scale model of the ship is on display at the Chung/Lind Gallery at UBC. jmackie@ A poster for ¤the Canadian Pacific Railway Empress of Asia steamship, circa 1913. Part of the Chung collection at UBC. Photo by Ward Perrin / Vancouver Sun Detail of the Empress of Asia model in the Chung collection at UBC. Martin Dee/UBC Public Affairs Photo by Martin Dee / Vancouver Sun Wallace Chung's scale model of the Canadian Pacific steamship the Empress of Asia 'floats' above a new display at the Chung/Lind Gallery that looks like the ocean floor. UBC photo. Read More Vancouver Canucks Vancouver Canucks News Sports Celebrity
