Ground Freight & Logistics

Futures tied to Canada's major stock index rose Thursday as precious metals continued their rally,?oil climbed on geopolitical worries, and investors assessed the Big?Tech reports from the U.S. As of 6:05 a.m., March futures based on Toronto's TSX Composite Index (S&P/TSX) were up 0.3%. ET. Gold spot gained 1.4% and briefly hovered near $5,600 an ounce. This was due to the demand for safe havens amid continued geopolitical unrest and concern over the autonomy of the U.S. Federal Reserve. The U.S. Dollar's decline?slowed on Thursday but it remained near multi-year lows. Silver prices remained stable, but copper and other metals...

C.H. Robinson's fourth-quarter profit was above Wall Street expectations on Wednesday as cost control helped the global freight forwarder to mitigate the impact of a weak demand in a challenging international trade environment. In aftermarket trading, shares of?the company? rose 6.3%. The largest U.S. Freight Broker reported a 5% drop in operating costs for the quarter. Personnel expenses, other selling, administrative and general costs all fell by about?5%. The average number of employees fell by 12.9% during the fourth quarter. C.H. Robinson has increasingly used artificial intelligence to streamline operations and reduce manual processes. This shift is occurring as the...

The futures for Canada's main index of stocks rose on Wednesday, as gold prices reached a new high. Investors awaited the interest rate decisions that would be made by the U.S. Federal Reserve later in the day. As of 5:41 a.m., March futures for Toronto's S&P/TSX composite index were up 0.16%. ET. Spot gold rose 1.6% and briefly surpassed $5,300 an ounce as the U.S. Dollar sank to four-year lows before stabilizing after President Donald Trump dismissed January's decline. At its next policy meeting, the Fed is expected to?keep rates unchanged. However, the decision will likely be overshadowed due to...

J.B. Hunt Transport Services, a U.S. trucking company, reported an increased profit for the fourth quarter on Thursday. This was largely due to a strong shipping demand during peak season and efforts made by all departments to reduce costs. As volumes increase, carriers add seasonal surcharges. The company is pursuing cost reductions in order to increase efficiency. This is because the trucking industry has been experiencing a downturn for'more than three years, marked by excessive capacity and seasonal volume increases, which have kept rates low. The expectation of a U.S. trucking market turnaround in 2026 is gaining momentum. This is...

Canadian National announced on Monday that it had filed a petition with the U.S. Surface?Transportation?Board that asks for the agency to order Union Pacific and Norfolk Southern to reveal more details on?their merged proposal. Union Pacific and Norfolk Southern filed a nearly 7,500-page merger request to the board of directors in December. This triggered a regulatory review for what would be the largest rail transaction in decades. The $85 billion agreement, announced in July, aims to speed up shipments by reducing delays and handoffs. It would also create the United States' first coast-to-coast railroad. The proposal has attracted Critics of...

QXO announced on Monday that Apollo Global Management, along with a number of other investors, had agreed to invest $1.2 Billion in the firm headed by Brad Jacobs. This investment will be used to support its acquisition efforts. The shares of the distributor of building products were up by more than 8% on premarket trading. QXO must use financing to fund at least one acquisition by July 15?, the companies stated. The building products industry in the United States has seen a?sharp increase in dealmaking as companies look to scale and local supply chain to offset tariffs. Demand is driven...

After inspections raised safety concerns about the English skills of some staff, the U.S. Transportation Department announced Friday it would place restrictions on Mexican train crews operating in the United States. Federal Railroad Administration of the Department sent letters to Union Pacific and Canadian Pacific Kansas City Limited on Friday after inspectors found that inbound crews appeared to be having difficulty understanding bulletins and communicating with inspectors safety requirements in English. The Department of Transportation?said that uncertified crews operating trains for the two railroads in the U.S. could not travel more than 10 miles from their entry point. They must...

Union Pacific and Norfolk Southern filed a nearly 7,500-page merger request with the U.S. Department of Justice on Friday. Surface Transportation Board (STB) will now have 30 days to review the plan and request more information. It can also propose some initial remedies. The filing opens up a formal response window for all stakeholders, including shippers and labor unions as well as rival railroads and consumer advocates, to comment on the $85 billion deal. In July, analysts and executives in the industry were surprised by the merger agreement between Union Pacific and Norfolk Southern. The analysts said that a merger...

Union Pacific and Norfolk Southern filed a?application on Friday with the 'U.S. Transport regulator to review $85 billion merger proposal. This would create the first coast-tocoast freight railroad in the U.S. The Surface Transportation Board will be closely scrutinizing the merger announced in July. This could take up to 12-18 months. The companies aim to close by early 2027. The board was created in 1996 and rarely rejects mergers outright. In 2021, however, it rejected Canadian National’s plan to put Kansas City Southern into a temporary “voting trust” that would have allowed Kansas City Southern shareholders the opportunity to receive...

Teamsters said that it opposed the merger of U.S. freight railways Union Pacific and?Southern on Wednesday. In a joint press release, union presidents representing 20,000 employees at both railroads stated that they will not support any?deal? that does not protect the lives and livelihoods of workers. Since its announcement, the proposed merger has been criticized by unions and other railroads. It aims to create the first coast-tocoast railroad in America and reduce delays and handoffs. Teamsters claimed that executives from both railroads had failed to protect jobs or address?other concerns. It's time that Union Pacific and Norfolk Southern get serious...

BNSF Railways, a crown jewel of Warren Buffett’s Berkshire Hathaway, claims to be an environmental leader within the U.S. railway industry, with the cleanest fleet of locomotives in North America. In its latest sustainability report, BNSF urges people to "think green" when they see the steel wheels of orange locomotives and freight cars moving along steel rails. The company has the biggest share in an industry with a serious pollution problem. According to government data, U.S. railroads emit more nitrogen oxides, the main component of smog than all of the coal-fired plants combined. U.S. railways produced together about 485,000 tonnes...

VTB CEO Andrei Kostin said in an interview that Russian banks were willing to restructure some Russian Railways' debt, as long as their central bank did not increase the reserve requirements on these loans. The Russian government is examining different options to support Russian Railways. This company, the largest commercial employer in Russia, has accumulated a debt of 4 trillion roubles ($50.8 billion), according to a report on Nov. 25, VTB is the second largest Russian bank and Russian Railways' largest creditor. The bank's top managers participate in weekly government discussions on how to handle the debt. These meetings are...

United Parcel Service, the largest package delivery company in the world, announced on Tuesday that it will close 24 additional facilities and eliminate up to 30,000 positions by 2026. This is due to its ongoing shift towards a'more profitable business. In midday trading, shares of the company rose 4%. The company also announced fourth quarter results that exceeded Wall Street expectations and forecasted a surprise increase in annual revenue. FedEx shares gained 2.6%. Carol Tome, CEO of the company, said in a conference with analysts that the company plans to reduce Amazon deliveries. "We are now in the last six...

Pasifik Eurasia Lojistik announced that it had signed a railway transportation agreement with a subsidiary China Railway for the launch of cargo train services on a corridor connecting China to Europe via Turkey, bypassing Russia. The initial plan is to operate 10 train services, and eventually 1,000. It is anticipated that the Middle Corridor will see a significant increase in freight volume thanks to the partnership with China's state-owned railway logistics company. The Middle Corridor, a China-Europe freight route that is promoted by the West, includes Kazakhstan, Azerbaijan and Georgia, as well as Turkey. Fatih Erdogan, Chairman of Pasifik Holding's...

Leasys, an auto leasing company, aims to double its fleet's share of electric and hybrid vehicles by the end of next year. The rapid advancements in electric technology present challenges to the industry. Leasys, a 50-50 joint venture between Stellantis in Italy and France's Credit Agricole is the third-largest player in Europe's long term auto rental industry. The long-term lease, which allows the customer to rent a car at a fixed rate per month, usually for a minimum of 365 days, is an alternative to owning. In recent years, corporate clients have driven its popularity. Leasys is present in 11...

Blackstone will buy Australian data centre group AirTrunk for an implied enterprise value of over A$ 24 billion ($ 16.10 billion), it said on Wednesday, in what would be Blackstone's biggest financial investment in the Asia Pacific area. The alternative possession supervisor, along with the Canada Pension Strategy Financial Investment Board, is obtaining AirTrunk from Macquarie Asset Management (MAM) and the general public Sector Pension Investment Board (PSP). The deal requires approval from the Australian Foreign Investment Review Board (FIRB), offered the property is being bought by overseas parties. At $16.1 billion, the deal is the biggest buyout in Australia...