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Canadian Pacific Railway acquires Kansas City Southern for $29B

Canadian Pacific Railway acquires Kansas City Southern for $29B

Business
March 21 (UPI) -- Canadian Pacific Railway agreed to purchase Kansas City Southern and create the first rail network linking the United States, Mexico and Canada. The companies agreed to a merger with CP acquiring KSC for $ 29 billion including assuming $ 3.8 billion of outstanding debt from KCS, while creating a network of about 20,000 miles of rail that will unite the three nations, according to a statement. Advertisement "This transaction will be transformative for North America, providing significant positive impacts for our respective employees, customers, communities and shareholders," CP President and CEO Keith Creel said. "This will create the first U.S.-Mexico-Canada railroad, bringing together two railroads that have been keenly focused on providing quality service to their cust...
China tries Canadian Michael Spavor behind closed doors

China tries Canadian Michael Spavor behind closed doors

World
March 19 (UPI) -- A Chinese court said it tried behind closed doors on Friday one of two Canadian citizens facing espionage charges after being detained by the Asian nation in late 2018, stating the verdict will be announced at a later date. In a brief statement, the Liaoning Dandong Intermediate People's Court, near China's southern border with North Korea, said Michael Spavor and his defense lawyers appeared in court Friday where he was tried "for spying overseas and illegally providing state secrets." Advertisement Spavor is one of two Canadians along with Michael Kovrig who were arrested in China within weeks of Canadian authorities detaining Meng Wanzhou, the chief financial officer of Huawei, on Dec. 1, 2018, at the request of the United States, which had issued a warrant for her ar...
Canadian PM Justin Trudeau shifts key cabinet posts

Canadian PM Justin Trudeau shifts key cabinet posts

World
Jan. 12 (UPI) -- Canadian Prime Minister Justin Trudeau shifted his cabinet after the resignation Tuesday of Navdeep Bains, minister of innovation, science and industry. Bains, who has served member of parliament for Mississauga-Malton since 2008, announced in a video posted on Twitter Tuesday morning he would not seek re-election. Advertisement "After six elections, I've decided that the 2019 campaign is my last," Bains said in the post. "I have also made the decision to step away as a cabinet minister. As many of you know, family is the most important thing in my life." "I've lived the Canadian dream," he added. "I'm the son of a cabinet maker, who has had the opportunity to serve as a cabinet minister. It's time for me to focus on the most important job I have in life, being a dad." B...
Canadian PM Trudeau will stay home for USMCA trade deal event in DC

Canadian PM Trudeau will stay home for USMCA trade deal event in DC

World
July 6 (UPI) -- Canadian Prime Minster Justin Trudeau will not travel to Washington, D.C., to celebrate the ratification of a new trade agreement between Canada, the United States and Mexico Wednesday, the prime minister's office said Monday. U.S. President Donald Trump will host Mexican President Andrés López Obrador to celebrate the USMCA trade agreement, which replaced the 1994 NAFTA agreement between the three North American nations. Advertisement Trudeau had a conflict in his schedule, a spokeswoman said. "While there were recent discussions about the possible participation of Canada, the prime minister will be in Ottawa this week for scheduled cabinet meetings and the long-planned sitting of Parliament," Chantal Gagnon from the Prime Minister's Office said in a statement. Under Can...
Canadian Grand Prix ninth race off amid coronavirus crisis

Canadian Grand Prix ninth race off amid coronavirus crisis

Sports
The Canadian Grand Prix has become the latest Formula 1 race to be postponed as a result of the coronavirus crisis.The Montreal event is the ninth race to be affected so far this season.It was due to be held on 14 June, but organisers had to make a decision now because of the length of time required to set up the track. Attempts will be made to find a slot for the popular race on the Circuit Gilles Villeneuve at the earliest opportunity in the summer.Canadian Grand Prix president Francois Dumontier said: "I am proud to see how such wonderful initiatives and technical advancements stemming from Formula 1 are being applied in a time of crisis. "At the moment it is crucial that all of our energi...