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Tag: railway

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...
Fares, freight rates to be rationalised: Railway Board chairman

Fares, freight rates to be rationalised: Railway Board chairman

Finance
NEW DELHI: The railways is in the process of "rationalising" its passengers and freight fares, Railway Board Chairman VK Yadav said on Thursday. He, however, refused to say if the prices will be increased. In a media briefing, Yadav said although the railways had initiated a number of measures to counter its dwindling revenues, increasing fares was a "sensitive" issue and it had to be discussed at length before a final decision was taken. "We are going to rationalise the fares and freight rates. Something is being thought about. I cannot divulge more, this is a sensitive subject. While the freight fares are already high, our target is to draw more traffic from road to railways in this regard," he said. The Indian Railway has been hit hard by the economic slowdown, with the earnings of the ...
Greta Thunberg, German railway company in tweetstorm

Greta Thunberg, German railway company in tweetstorm

Technology
Climate activist Greta Thunberg and Germany's national railway company created a tweetstorm after she posted a photo of herself sitting on the floor of a train surrounded by lots of bagsBy KIRSTEN GRIESHABER Associated PressDecember 15, 2019, 4:08 PM3 min readBERLIN -- Climate activist Greta Thunberg and Germany's national railway company created a tweetstorm Sunday after she posted a photo of herself sitting on the floor of a train surrounded by lots of bags. The image has drawn plenty of comment online about the performance of German railways. Thunberg posted the tweet late Saturday with the comment “traveling on overcrowded trains through Germany. And I’m finally on my way home!” But German railway company Deutsche Bahn suggested that Thunberg may not have spent the whole time sitting ...
Commuters braced as railway timetables change

Commuters braced as railway timetables change

Business
The new National Rail summer timetable has come into effect, with 1,000 new train services being introduced across Great Britain.The operators and infrastructure firm Network Rail say they have learned the lessons of last summer's disruption.Then, a more extensive shake-up led to weeks of chaos on the Govia Thameslink Railway (GTR) and Northern networks. Train operators say they will monitor the latest changes carefully and respond quickly to any problems. 'Contingency plans'"The railway has a long way to go to win back passenger confidence," said Darren Shirley, chief executive of pressure group Campaign for Better Transport."But we hope that the lessons of last year have been learnt and the introduction of the new timetable... ...
UK railway pension fund investing millions in music

UK railway pension fund investing millions in music

Finance
Of the many alternative investments outside stocks and bonds that pension funds can buy, a few are putting retirement money into music copyrights.RPMI Railpen, the manager of one of the largest and oldest UK pension funds, is leading a $ 345 million investment in a fund rolled out Monday by Kobalt Capital, the subsidiary of music royalties collection and technology company Kobalt."With low expected returns from many traditional asset classes, we are prepared to allocate in alternative investments that can help us to pay members' pensions well into the future," Craig Heron, deputy investment director, RPMI Railpen, told CNBC this week in an email. Through the fund, Railpen buys music copyrights and receives royalties collected by Kobalt."This is an innovative investment opportunity that off...