Union Pacific Corp., the biggest U.S. railroad, posted fourth-quarter profit that topped analysts’ estimates as U.S. economic growth fueled increases in volumes and supported higher rates.
China rejected a global shipping alliance to protect companies navigating a choppy market. The decision will probably hurt cargo firms’ earnings, including its own.
North American railroads’ freight volumes surged 17 percent last week, the most in a year, in an indication that the U.S. economy will avoid a second recession.
When Warren Buffett bought North America’s second-biggest railroad, he called it an “all-in wager” on the U.S. economy. It’s turning out to be a pretty good bet on the oil industry, too.
U.S. Transportation Department regulations meant to ensure truck drivers get more rest were mostly upheld by a federal appeals court, a defeat for companies that said the rules would add cost without improving highway safety.
Union Pacific Corp. rose to the highest price in at least 31 years after the biggest U.S. railroad’s profit topped estimates amid shipment-volume gains.
"Dry bulker rates may improve this quarter from current levels on strong grain harvests as well as robust Chinese demand for commodities such as iron ore."
- Lee Klaskow on Aug 06, 2014
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