Lee Klaskow News
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Israel Corp., controlled by Israeli billionaire Idan Ofer, rose to the highest in more than 18 months after its shipping unit reached an agreement to cancel half of a nine-vessel order.
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Canadian stocks were little changed as Canadian National Railway Co. surged on increased North American rail traffic, while profit concern sent shares of Catamaran Corp. and Canadian Imperial Bank of Commerce lower.
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Chile’s richest family has turned the world’s worst-performing container shipper into a champion by shedding rented vessels and unprofitable trade routes.
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Solar stocks led gains among Chinese equities in New York on prospects expanding global demand for alternative energy will ignite sales.
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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.
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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.
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Mississippi River barge traffic is slowing as the worst drought in five decades combines with a seasonal dry period to push water levels to a near-record low, prompting shippers to seek alternatives.
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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.
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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.
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CSX Corp.’s container cargoes have increased about 10 percent for two straight quarters as eastern U.S. railroads invest billions in a business that threatens the trucking industry’s most lucrative shipments.
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