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CN trains in Vancouver. (CN.ca)
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CN, CP roll over revenue caps for 2016-17

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Canada’s big two railways have both overshot the maximum revenue they’re allowed to keep for ferrying the 2016-17 grain crop off the Prairies. The Canadian Transportation Agency on Thursday issued its annual determination of how much, if any, revenue Canadian National Railway (CN) and Canadian Pacific Railway (CP) made over their maximum grain revenue entitlements
(CPR.ca)
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CP’s third-quarter grain handle down

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“Volume momentum” in its third quarter has Canadian Pacific Railway looking forward to a rosier year-end ledger, though its grain traffic for the quarter dragged on that momentum. Calgary-based CP on Tuesday reported net income of $510 million on $1.595 billion in revenues for the third quarter ending Sept. 30, up from $347 million on
(CPR.ca)
Crops

Grain revenue, grain handle higher in CP’s Q1

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Increased grain and potash traffic and revenue helped Canadian Pacific Railway book a shift to “positive volumes” in its first-quarter ledger. Calgary-based CP on Wednesday reported net income of $431 million on revenues of $1.603 billion for its quarter ending March 31, down from $540 million on $1.591 billion in the year-earlier period. “We turned
(CSX.com)
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Activist investor activity reignites rail merger hopes

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Reuters — Shares of railway operator CSX Corp. soared 20 per cent on Thursday after an activist investor’s plan to shake up the U.S. rail operator fueled speculation that the company was once again a takeover target. Investors rushed to bid up shares of CSX after news reports that former Pershing Square partner Paul Hilal
(CPR.ca)
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Farmer interest sought in Saskatchewan commodity hub

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A group in southeastern Saskatchewan is gauging farmer support for a proposed new “commodity hub” project that would handle grain and transloading of commodities such as crude oil and fertilizer. An organization dubbed Comtrax Logistics Solutions proposes a $50 million to $75 million project somewhere on Canadian Pacific Railway’s Soo Line, “most likely” in the
(CPR.ca)
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CP trims outlook on delayed Prairie harvest

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Rain delays in this year’s Prairie grain harvest have bit into third-quarter revenues and earnings expectations for Canadian Pacific Railway (CP). The Calgary company on Wednesday booked overall net income of $347 million on revenues of $1.554 billion for its quarter ending Sept. 30. While net income was up seven per cent, total revenues were
(Dave Bedard photo)
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Ackman exits CP, freeing up cash for next bet

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Boston/Montreal | Reuters — Billionaire U.S. investor William Ackman has exited his hedge fund’s investment in Canadian Pacific Railway, freeing up roughly US$1.5 billion in cash to make other future investments. Pershing Square Capital Management and CP on Wednesday said the New York-based hedge fund had sold its remaining 9.8 million shares in the Canadian
(CPR.ca)
Crops

CP offers assurances for 2016-17 grain handle

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Canadian Pacific Railway (CP) says it’s ready and willing to move a bumper Prairie crop in 2016-17. “Operationally, CP is eager and prepared to move grain this coming crop year,” company CEO Hunter Harrison said in a letter to federal Transport Minister Marc Garneau. The letter, dated Tuesday, was also circulated to Prairie transportation and

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