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Posts published in “Railroad Legal News”

UPDATE 2-CSX revenue misses estimates on disruptions from turnaround plan

(Adds details from the conference call, updates shares) Jan 16 (Reuters) - CSX Corp reported a bigger-than-expected drop in fourth-quarter revenue on Tuesday as the third-largest U.S. railroad lost some business due to service issues caused by former chief executive Hunter Harrison's turnaround plan. Harrison, a veteran railroader cherished by investors for leading turnarounds of…

Major U.S. railroads warn Trump against derailing NAFTA

LOMBARD, Ill., Jan 17 (Reuters) - Major U.S. railroads on Wednesday warned President Donald Trump of the potential financial and political consequences of scrapping the North American Free Trade Agreement and urged U.S., Mexican, and Canadian officials to find ways to modernize the accord. Trump has threatened to withdraw from the agreement, which is heavily…

UPDATE 2-CP Rail weighs strategic deals to boost crude-by-rail

(Adds executive remarks from conference call) Jan 18 (Reuters) - Canadian Pacific Railway Ltd said on Thursday it is weighing strategic deals to boost crude-by-rail shipments in 2018, after reporting fourth-quarter profit that beat analysts' estimates. Canada's second-largest railway said it expects revenue growth in the mid single digits this year, boosted by strong global…

UPDATE 3-NAFTA future clouds Kansas City Southern earnings beat

(Adds analyst comment, paragraph 6) Jan 19 (Reuters) - Kansas City Southern, a U.S. railroad with extensive operations in Mexico, sought to ease investor fears on Friday over the future of the North American Free Trade Agreement, touting forecasts of solid freight volumes and a stronger economy in 2018. Uncertainty over NAFTA negotiations looms over…