TORONTO, Jan 29 (Reuters) – Mile-long trains carrying crude
oil will likely keep chugging through North American cities even
after a string of fiery disasters spurred safety officials to
urge that railways send risky cargo along less populated routes.
Re-routing the crude-by-rail trains that support booming
North American oil production would be hugely difficult given
the location of major rail lines and lack of alternatives,
industry watchers say, adding that skirting major centers
carries different types of risks.
TORONTO, Jan 29 (Reuters) – Canadian Pacific Railway
, the country’s second largest railroad, reported a
weaker-than-expected quarterly profit on Wednesday, but forecast
adjusted earnings would climb at least 30 percent in 2014 as
Shares of the Calgary, Alberta-based railway rose 2.5
percent to C$162.05 on the Toronto Stock Exchange aftersinking
briefly in early trade.
By Solarina Ho
(Reuters) – Bombardier (BBDb.TO: Quote, Profile, Research, Stock Buzz) said on Thursday it will delay putting its new narrowbody CSeries jet into commercial use by at least nine months, citing a longer-than-expected test phase.
The smaller CS100 aircraft’s entry-into-service is now scheduled for the second half of 2015. It will be followed by the larger CS300′s entry-into-service about six months later, the planemaker said in a statement.
TORONTO, Jan 15 (Reuters) – Sears Canada Inc plans
to cut more than 1,600 jobs, or more than 7 percent of it
workforce, this year as it reorganizes and outsources some of
its business, the struggling department store operator said on
Sears Canada, controlled by Sears Holdings Corp,
said it signed an agreement with IBM Corp to take over
work currently handled internally, a move that affects 1,345
jobs at three call centers over the next nine months.
TORONTO, Jan 14 (Reuters) – After a year of bungled public
relations and messy quality and supply-chain troubles, Lululemon
Athletica Inc is committed to fixing the problems that
have marred its trendy image, a top executive at the yogawear
retailer said on Tuesday.
Chief Financial Officer John Currie made the comments a day
after the Vancouver, British Columbia-based company issued its
second earnings warning in just over a month, sending its stock
to a two-year low.
TORONTO, Jan 10 (Reuters) – A fire on a crude oil tanker on
a Canadian National Railway Co train that derailed this
week in New Brunswick was extinguished by Friday afternoon and
CN said blazes on cars carrying liquid petroleum gas (LPG) would
be put out shortly.
The CN train had been burning for a fourth day as crews
worked to remove the last derailed freight cars adjacent to the
fires. A total of 19 cars and one locomotive on the 122-car,
four-locomotive train went off the rails on Tuesday evening near
the village of Plaster Rock.
TORONTO, Jan 10 (Reuters) – A Canadian National Railway Co
train whose cargo included gas and crude oil was
burning for a fourth day in the eastern province of New
Brunswick on Friday as crews worked to remove the last derailed
freight cars adjacent to the fire.
A total of 19 cars and one locomotive on the 122-car,
four-locomotive train went off the rails on Tuesday evening,
just a week after another fiery derailment of a crude oil train
in North Dakota.
TORONTO/WASHINGTON, Jan 9 (Reuters) – Political pressure to
quickly improve the safety of crude oil rail shipments
intensified in Washington on Thursday, while Canadian officials
said two of the cars involved in the latest fiery derailment
were of an older variety long faulted by regulators.
After two more dramatic oil-train incidents in just two
weeks, several U.S. lawmakers urged swift measures from
Transportation Secretary Anthony Foxx, who in turn promised that
tougher federal standards for tank cars would come “in weeks,
not months,” according to North Dakota’s Republican Senator John
TORONTO/OTTAWA Jan 9 (Reuters) – A Canadian investigator
said Thursday he has information that some of the tanker cars in
a Canadian National Railway train that derailed and
caught fire this week were DOT-111s, a model involved in a
series of crude-by-rail accidents.
It was not clear whether the cars were older models of the
DOT-111s, which do not meet stricter safety standards introduced
TORONTO, Jan 8 (Reuters) – A Canadian National Railway
train carrying crude oil and propane derailed and
caught fire after the emergency brakes were activated, the
Transportation Safety Board (TSB) of Canada said on Wednesday.
TSB spokesman John Cottreau said the derailment late on
Tuesday included propane tankers, crude tankers, a locomotive
and hopper cars, but said it was not clear whether the cars were
full at the time of the crash.