CNR.TO - Canadian National Railway Company

Toronto - Toronto Delayed Price. Currency in CAD
119.95
-0.50 (-0.42%)
At close: 4:00PM EST
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Previous Close120.45
Open120.20
Bid120.00 x N/A
Ask120.01 x N/A
Day's Range118.50 - 120.28
52 Week Range96.46 - 127.96
Volume2,302,174
Avg. Volume1,196,551
Market Cap85.8B
Beta (3Y Monthly)0.93
PE Ratio (TTM)19.41
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & Yield2.15 (1.78%)
Ex-Dividend Date2019-12-06
1y Target EstN/A
  • Canada Rail Strike Triggers Emergency Propane Shortage in Quebec
    Bloomberg

    Canada Rail Strike Triggers Emergency Propane Shortage in Quebec

    (Bloomberg) -- Explore what’s moving the global economy in the new season of the Stephanomics podcast. Subscribe via Apple Podcast, Spotify or Pocket Cast.Quebec is facing an emergency shortage of propane and shipments of oil, grain and metal are grinding to a halt as the impact of a rail strike in Canada threatened to take a multibillion-dollar chunk out of the nation’s economy.About 3,200 conductors and yard operators at Canadian National Railway Co. walked off the job Tuesday, snarling shipments from one of the world’s largest exporters of raw materials. The Quebec premier said its supply of propane is set to run out in four days, and the movement of freight destined for the U.S. and global markets stalled on Canada’s largest railway.Should the disruption last until Nov. 30 it could crimp gross domestic product by as much as C$2.2 billion ($1.7 billion), according to Toronto-Dominion Bank economists Brian DePratto and Derek Burleton. If it extends until Dec. 5, when lawmakers resume work in Ottawa, it could put a C$3.1 billion hole in the economy. That’s equivalent to a nearly one-quarter percentage point loss in the fourth quarter, the economists estimate.“The longer this goes on, the bigger the knock-on effects are likely to be, particularly for sectors like agriculture and chemicals,” DePratto said by email Thursday. “So the Dec. 5 impact analysis may be somewhat conservative.”Propane ShortageThe Teamsters Canada Rail Conference union has been without a contract since July and walked out over issues including working conditions and drug benefits. Prime Minister Justin Trudeau, who was re-elected to a second term but failed to win any districts in two energy and agriculture rich western provinces, is facing calls to legislate an end to the strike. His transport minister said Wednesday the government prefers a negotiated settlement.Propane in Quebec is running low, threatening the heating systems of hospitals and elderly residences across the province, Premier Francois Legault said. The majority of Quebec’s propane supply is transported by rail from Sarnia, Ont.“The strike cannot last,” he told journalists in Quebec City, according to a report by the Canadian Broadcasting Corp., describing it as emergency situation.Farmers in Ontario and Quebec meanwhile are being urged to limit drying of corn and soybeans as heating for residents and livestock is prioritized.Crude ShipmentsThe labor action has almost halted shipments of crude oil at some rail terminals in Alberta at a time when pipelines are filled to capacity and trains are essential to maintaining exports of Canada’s most important commodity. The Tank Tiger, a terminal storage clearinghouse, received an inquiry to store about 30 rail tank cars for 30 days in the U.S. Pacific Northwest, after the cars couldn’t deliver crude to a terminal due to the labor action, Ernie Barsamian, chief executive officer, said Thursday.Miners are also feeling the impact of the labor action. If the strike continues, Hudbay Minerals Inc. could see an inventory buildup of zinc/copper concentrate and lagging sales in the fourth quarter, a Credit Suisse analyst said.Metals FleetIn the U.S., Union Pacific Corp., the largest freight rail provider in the Western region, said it stopped accepting shipments from CN Rail. That’s poised to impact the flow of steel, copper, aluminum and zinc between the two countries. CN Rail serves all nine aluminum smelters in Canada, which combined are the world’s third-largest producers of primary aluminum after China and Russia, according to CN Rail’s annual report. The company also said it has a network of 16 strategically located metals distribution centers and the largest active fleet of railcars for metals in Canada.Less than a third of CN employees can be replaced by qualified managers and others, Bloomberg Intelligence Analyst Lee Klaskow said in a report Thursday. “CN risks losing time-sensitive intermodal freight. Most of the carload volume will be delayed until the strike ends.”While CN Rail is Canada’s largest railway, Canadian Pacific Railway Ltd. also ships goods across the country, giving companies alternative options.Growth SlowingSuncor Energy Inc., the biggest oil sands producer, has “contingency plans in place to deal with this situation,” Sneh Seetal, spokeswoman, said in an email late Wednesday. “As a reminder we have a vast logistic network which we are able to tap into during this time.”Economic growth is already decelerating in Canada amid global trade tensions. The consensus estimate is for gross domestic product to grow 1.3% in the fourth quarter, according to a Bloomberg survey before the strike began.Canadian heavy crude prices weakened Thursday with Western Canadian Select’s discount to West Texas Intermediate futures widening 15 cents to $18.90 a barrel, data compiled by Bloomberg show.\--With assistance from Ashley Robinson.To contact the reporters on this story: Shelly Hagan in Ottawa at shagan9@bloomberg.net;Robert Tuttle in Calgary at rtuttle@bloomberg.netTo contact the editors responsible for this story: Theophilos Argitis at targitis@bloomberg.net, Jacqueline Thorpe, Steven FrankFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Canadian Railway Strike Disrupts Steel, Copper Trade With U.S.
    Bloomberg

    Canadian Railway Strike Disrupts Steel, Copper Trade With U.S.

    (Bloomberg) -- Steel, copper, aluminum and zinc shipments between the U.S. and Canada are at risk from a strike at Canadian National Railway Co.In the U.S., Union Pacific Corp., the largest freight rail provider in the West region, said this week that it would stop accepting shipments into or from CN Railway’s Canada locations until its operations return to normal.Toronto-based Hudbay Minerals Inc.’s zinc and copper shipments from its operations in Manitoba would be negatively impacted by a prolonged strike, according to a Credit Suisse Group AG report. Hudbay didn’t immediately comment.The Union Pacific notice to customers will likely hurt copper and steel shipments from the U.S., Anton Posner, the chief executive officer of supply-chain management and consulting company Mercury Resources, said in an interview. Aluminum deliveries from Quebec into the U.S. will likely be delayed, he said.“This should have an impact, but we’re not sure how much right now,” Posner said Thursday by telephone. “It’s kind of like when you’re trying to fly from Houston and the pilot comes on while sitting on the tarmac that you’re in a ground stop because LaGuardia is too congested.”About 3,200 workers at CN Railway went on strike Tuesday over issues including working conditions and medical benefits, the Teamsters Canada Rail Conference union said. Shares of the company fell for a fourth day, taking this week’s loss to 3.2% in Toronto as of Thursday.CN Railway serves all nine smelters in Canada, according to the company’s annual report. It also said it has a network of 16 metals distribution centers and the largest active fleet of railcars for metals in the country.Teck Resources Ltd. said in its 2018 annual report that its Cardinal River operations in Alberta are served by Canadian National Railway, which transports its products to ports on the west coast. The Vancouver-based company mines steelmaking coal in Cardinal River.“We have been monitoring the situation closely, assessing potential impacts and implementing mitigation strategies,” Teck spokesman Chris Stannell said in an emailed statement, without providing details. “Any stoppage of rail service is negative for the Canadian economy as a whole. It negatively affects shippers both in terms of business and international reputation with customers.”Hamilton, Ontario-based Stelco Holdings Inc. Chairman Alan Kestenbaum said his company hasn’t been impacted by the strike.“We have our own rail cars and have various alternatives including using barge, ship, truck and alternative rail line,” he said in a text message.Alcoa Corp. spokesman Jim Beck said “there’s no current impact on shipments from the smelters we operate, but we’re closely monitoring the situation.” The largest U.S. aluminum producer runs smelters at Baie-Comeau, Becancour and Deschambault in Canada.\--With assistance from Joe Richter.To contact the reporters on this story: Joe Deaux in New York at jdeaux@bloomberg.net;Aoyon Ashraf in Toronto at aashraf7@bloomberg.netTo contact the editors responsible for this story: Luzi Ann Javier at ljavier@bloomberg.net, Steven FrankFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Reuters

    UPDATE 3-Heating fuel shortage looms as strike at Canada's biggest railroad hits third day

    WINNIPEG/OTTAWA, Nov 21 (Reuters) - Shippers scrambled to shift freight onto trucks on Thursday as a strike at Canada's biggest railroad, Canadian National Railway Co, hit its third day, leaving the critical fuel propane and other goods stranded. Canada's Transport Minister Marc Garneau said he wants the strike "to end as soon as possible," adding that he believes collective mediation is the quickest and best way to resolve the dispute despite differences between the sides. Quebec Premier Francois Legault told reporters that the province only had a four-and-a-half day propane supply.

  • Heating fuel shortage looms as strike at Canada's biggest railroad hits third day
    Reuters

    Heating fuel shortage looms as strike at Canada's biggest railroad hits third day

    WINNIPEG/OTTAWA (Reuters) - Shippers scrambled to shift freight onto trucks on Thursday as a strike at Canada's biggest railroad, Canadian National Railway Co, hit its third day, leaving the critical fuel propane and other goods stranded. Canada's Transport Minister Marc Garneau said he wants the strike "to end as soon as possible," adding that he believes collective mediation is the quickest and best way to resolve the dispute despite differences between the sides. Quebec Premier Francois Legault told reporters that the province only had a four-and-a-half day propane supply.

  • Trudeau Faces Pressure to End Rail Strike as Impact Spreads
    Bloomberg

    Trudeau Faces Pressure to End Rail Strike as Impact Spreads

    (Bloomberg) -- Explore what’s moving the global economy in the new season of the Stephanomics podcast. Subscribe via Apple Podcast, Spotify or Pocket Cast.Pressure is mounting on Canadian Prime Minister Justin Trudeau to take action to end a railway strike that’s curtailing shipments from one the world’s biggest exporters of raw materials.More than 3,200 conductors and yard operators walked off the job at Canadian National Railway Co. on Tuesday, disrupting cargo in a country that relies heavily on two main rail companies to transport oil, grain and consumer goods from its inland Prairies for export to the U.S. and the world.Parliament is on hiatus until Dec. 5 after Trudeau swore in a new cabinet on Wednesday, but industry groups and the Alberta government, home to the country’s oil sands, are pushing the government to move more swiftly to end the first strike in a decade at Canada’s largest railway. Trudeau is already facing rising tensions in Alberta as the province struggles with a pipeline bottleneck that has seen investments slump.“We urge the government of Canada to immediately recall Parliament to introduce emergency back-to-work legislation for CN rail workers,” Alberta Energy Minister Sonya Savage and other ministers said in a letter to federal Labour Minister Filomena Tassi. “Waiting until the planned recall of Parliament on Dec. 5 would have devastating impacts on the Canadian economy.”The Teamsters Canada Rail Conference union has been without a contract since July and walked out over issues including working conditions and drug benefits.Canadian Transport Minister Marc Garneau indicated the government would prefer a negotiated settlement as representatives from CN Rail and the union continued to bargain in Montreal.“We’re going to push them as hard as we can because this is very important from the economy’s perspective,” Garneau said in Ottawa on Wednesday. “We also believe in the collective bargaining process, so we’re going to make sure that they know how important this is and that they have to continue working toward a solution, which is, I say, we think is within their grasp.”Arbitration OfferIn a statement Thursday, CN Rail Chief Executive Officer Jean-Jacques Ruest said that to reduce the impact of the strike the company offered the union binding arbitration. The Teamsters have rejected that option.“We remain committed to working with the union and the mediators in order to reach an agreement that is fair to all parties,” he said in a statement. “We have also taken reasonable steps to end the economic impact by offering binding arbitration with a neutral arbitrator chosen by the parties or appointed by the federal government.”Canadian crude dropped on Tuesday, and slid again Thursday morning after strengthening Wednesday. Western Canadian Select crude’s discount to West Texas Intermediate futures was at $18.90 a barrel Thursday morning. Shares of CN Rail have declined 3.6% this week.Crude BottlenecksThe strike comes at a difficult time for crude producers, who were set to boost rail shipments of oil after Alberta’s government eased production limits for companies shipping by train. It also coincides with crop harvests, heightening competition for rail space among numerous commodity producers.Crude-by-rail volumes have largely halted as CN Rail prioritizes shipments of perishable goods such as grain amid a shortage of workers, according to people familiar with the matter.“The issue becomes prominent very quickly in terms of oil backing up into storage,” Mike Walls, an analyst at Genscape Inc., said by telephone. “Western Canada is so sensitive to any takeaway disruptions.”Some of the big oil producers like Suncor Energy Inc. have contingency plans to deal with train disruptions.“We have a vast logistic network which we are able to tap into during this time,” Sneh Seetal a representative for the Calgary-based company, said in an email.Petroleum and chemicals account for 20% of CN Rail’s revenue, followed by grain and fertilizer with 16%. The strike doesn’t include workers in the U.S., where CN Rail operates a rail line from Chicago to New Orleans.Harvest TimeAbout half of Western Canada’s grain elevators are on a CN line, according to the Western Grain Elevator Association. The railway shipped 180,000 barrels a day of oil in September, according to its earnings call.Capotex, the marketing arm for potash companies Nutrien Ltd. and Mosaic Co., said it relies heavily on CN Rail to move potash to its terminal in Vancouver. The Forest Products Association of Canada said its industry is responsible for 10% of the total tonnage transported through Canada’s railways.“While FPAC respects the collective bargaining process, and the right of workers to go on strike, we are concerned about the devastating economic impacts this dispute will have on our industry, which is already facing significant headwinds, not to mention the impacts on forestry families and communities.”Economic ImpactsThe average duration of transportation-related strikes within federal jurisdiction over the past five years has been 15 days, according to data from Statistics Canada.Railway strikes can have significant effects on the economy, and that’s why the CN dispute is likely to get resolved quickly, said Philip Cross, a senior fellow at the Macdonald-Laurier Institute in Ottawa. Even if the government isn’t in session to pass legislation, it can threaten the parties to strike a deal.“For the Prairies and a lot of manufacturers in Central Canada, this is the most efficient way of getting goods to market,” Cross said in an interview. “When you take that away, it’s going to have a significant impact which is why these things are rarely allowed to go on for very long,” Cross said(Updates with CN comment in eighth paragraph, Suncor comment in 15th)\--With assistance from Shelly Hagan, Theophilos Argitis and Mike Jeffers.To contact the reporters on this story: Jacqueline Thorpe in Toronto at jthorpe23@bloomberg.net;Robert Tuttle in Calgary at rtuttle@bloomberg.netTo contact the editors responsible for this story: Carlos Caminada at ccaminada1@bloomberg.net, Steven FrankFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Reuters

    Strike at Canada's biggest railroad enters third day as talks continue

    MONTREAL/WINNIPEG, Nov 21 (Reuters) - A strike at Canada's biggest railroad, Canadian National Railway Co, entered its third day on Thursday, as the company said talks were continuing with workers, assisted by federally appointed mediators. Some 3,200 unionized employees, including conductors and yard workers, hit picket lines on Tuesday amid softening demand for freight service. The railway has proposed binding arbitration, an option that the Teamsters Canadian Rail Conference union has rejected.

  • CN Rail dips as workers' strike enters second day, slows factory output
    Reuters

    CN Rail dips as workers' strike enters second day, slows factory output

    Canada, one of the world's biggest exporters of farm products, relies on Canadian National and Canadian Pacific Railway to move crops, potash, coal and manufactured goods to ports and the United States. Chemicals maker Chemtrade Logistics Income Fund warned a prolonged interruption of rail service could negatively impact its operating results and may prevent the company from meeting its earnings forecast.

  • Benzinga

    Canadian Industry Groups Seek Swift Resolution To Canadian National Strike

    Canadian industry groups that depend on the railways to deliver their goods both domestically and internationally ae pressing the parties to end the union strike at Canadian National (NYSE: CNI) soon. Members of the Teamsters Canada Rail Conference began their strike on Nov. 19 against Canadian National (CN). The federal government is mediating the talks between the Teamsters and CN.

  • Benzinga

    Canadian National Technology Guru Departing

    Canadian National (NYSE: CNI) said it is confident that it can continue its momentum of deploying advanced technologies for its operations even as its chief technology guru prepares to depart. Michael Foster, who currently serves as the chief information and technology officer, will be resigning from Canadian National (CN) effective Nov. 29 for personal reasons, the railway said on Nov. 19. Chief Operating Officer Rob Reilly will take on Foster's abilities on an interim basis while CN conducts a global search for a new chief information and technology officer.

  • Bloomberg

    CN Rail Strike Begins in Threat to Canadian Oil, Grain Cargo

    (Bloomberg) -- About 3,200 workers at Canadian National Railway Co. went on strike at midnight Tuesday, threatening to crimp shipments of oil, potash and grain across the country.Conductors and yard operators at Canada’s largest railway walked off the job after failing to reach an agreement with the company over issues including working conditions and drug benefits, the Teamsters Canada Rail Conference union said.“Unfortunately, we were unable to reach a deal with CN,” the union said in a statement. Workers have been without a contract since July and served a strike notice on Saturday.CN Rail is one of two main rail networks that Canada uses to ship consumer goods and exports of canola, wheat, potash and other resources from the prairies to seaports. The company carries C$250 billion ($189 billion) worth of goods annually and has increasingly been moving into shipping oil amid a bottleneck of pipelines from Alberta’s oil sands.Petroleum and chemicals account for 20% of CN Rail’s revenue, followed by grain and fertilizer with 16%. The strike involves only the company’s Canadian workers and doesn’t include the U.S., where CN Rail operates a rail line from Chicago to New Orleans.About half of Western Canada’s grain elevators are on a CN line, according to the Western Grain Elevator Association while the Mining Association of Canada said its industry is the single largest shipping group by volume on the country’s Class 1 railways. The railway shipped 180,000 barrels a day of oil in September, according to its earnings call.Autumn Harvest“There have been fairly heavy orders of late,” Bruce McFadden, director of research and analysis at grain monitor Quorum Corp., said in a phone interview. “It was a slow start to the season as the harvest was much delayed by weather. But even though it continued to be a difficult harvest there has been a substantial portion of the grain is available now.”CN Rail had been expected to supply 5,650 hopper cars per week for shipping of crops like canola and wheat to the Canada’s ports on the west coast though November, according to CN’s operating plan. In December grain shipping slows down with the weekly car allotment expected to fall to 4,150 cars until March.Canadian Labor Minister Patty Hajdu urged the parties to continue negotiations. “While we are concerned about the impact of a work stoppage on Canadians, we remain hopeful they will reach an agreement,” she said in a statement.Arbitration RejectedA representative for the Montreal-based company declined to comment on the strike. On Saturday, it said it continued to negotiate in good faith and had offered to go to binding arbitration, which the union rejected.Managers may step in to operate trains, blunting the impact of any walkout. Allison Landry, an analyst with Credit Suisse Group AG, said a walkout may crimp CN’s cargo volume, but the labor action probably wouldn’t last long and the impact on the company’s earnings wouldn’t be meaningful.“Historically, rail strikes have lasted a few days, and the Canadian government has been quick to step in and implement back-to-work legislation given the significant threat to the economy,” Landry said in a note to clients.Still, the government may have less leverage to push for a resolution over the next couple of weeks because parliament isn’t scheduled to convene until Dec. 5. That could delay the adoption of back-to-work legislation until then.The Teamsters argue that workers are being forced to operate trains alone from outside the locomotive while hanging on to moving trains with one hand and working a remote-control device in the other, creating a safety hazard. The union is also balking at a lifetime cap on prescription drug coverage and said the company is making it more difficult to take time off and work longer hours.Canadian National fell 1.1% to C$122.46 at 11:28 a.m. in Toronto. It’s gained about 22% this year, compared with the 24% gain of an index of Canadian industrial stocks.(Updates with potential impact on grains, oil, mining from 6th paragraph)\--With assistance from Theophilos Argitis.To contact the reporters on this story: Thomas Black in Dallas at tblack@bloomberg.net;Ashley Robinson in Winnipeg (Non BLP Loc) at arobinson193@bloomberg.netTo contact the editors responsible for this story: Brendan Case at bcase4@bloomberg.net, Jacqueline ThorpeFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Reuters

    UPDATE 5-Canada's largest railroad hit by strike, putting Trudeau in hot seat

    MONTREAL/WINNIPEG, Nov 19 (Reuters) - Thousands of workers at Canada's largest railway went on strike for the first time in a decade on Tuesday, disrupting the shipping of commodities and sparking calls for Prime Minister Justin Trudeau's Liberal government to intervene. About 3,000 unionized workers of Canadian National Railway , including conductors and yardmen, hit picket lines after both sides failed to resolve contract issues at a time of softening demand for freight service. Canada, one of the world's biggest exporters of farm products, relies on CN and Canadian Pacific Railway to move canola, wheat and other commodities over vast distances from western farms to ports.

  • Canada's largest railroad hit by strike, putting Trudeau in hot seat
    Reuters

    Canada's largest railroad hit by strike, putting Trudeau in hot seat

    MONTREAL/WINNIPEG (Reuters) - Thousands of workers at Canada's largest railway went on strike for the first time in a decade on Tuesday, disrupting the shipping of commodities and sparking calls for Prime Minister Justin Trudeau's Liberal government to intervene. About 3,000 unionized workers of Canadian National Railway , including conductors and yardmen, hit picket lines after both sides failed to resolve contract issues at a time of softening demand for freight service. Canada, one of the world's biggest exporters of farm products, relies on CN and Canadian Pacific Railway to move canola, wheat and other commodities over vast distances from western farms to ports.

  • Benzinga

    CN Rail Workers Go On Strike

    About 3,200 Canadian National Railway (NYSE: CNI ) employees went on strike just after midnight, as ongoing talks between the International Brotherhood of the Teamsters and the company failed to yield ...

  • CN Rail Strike Begins, Threatening Canada Oil, Grain Shipments
    Bloomberg

    CN Rail Strike Begins, Threatening Canada Oil, Grain Shipments

    (Bloomberg) -- About 3,200 workers at Canadian National Railway Co. went on strike at midnight Tuesday, threatening to crimp shipments of oil, potash and grain across the country.Conductors and railyard operators at Canada’s largest railway walked off the job after failing to reach an agreement with the company over issues including working conditions and drug benefits, the Teamsters Canada Rail Conference union said.“Unfortunately, we were unable to reach a deal with CN,” the union said in a statement. Workers have been without a contract since July and served a strike notice on Saturday.CN Rail is one of two main rail networks that Canada uses to ship consumer goods and exports of canola, wheat, potash and other resources from the prairies to seaports. The company carries C$250 billion ($189 billion) worth of goods annually and has increasingly been moving into shipping oil amid a bottleneck of pipelines from Alberta’s oil sands.A representative for the Montreal-based company declined to immediately comment on the strike. On Saturday, it said it continued to negotiate in good faith and had offered to go to binding arbitration, which the union rejected.Managers may step in to operate trains, blunting the impact of any walkout. Allison Landry, an analyst with Credit Suisse Group AG, said a walkout may crimp CN’s cargo volume, the labor action likely wouldn’t last long and the impact on the company’s earnings wouldn’t be meaningful.“Historically, rail strikes have lasted a few days, and the Canadian government has been quick to step in and implement back-to-work legislation given the significant threat to the economy,” Landry said in a note to clients.Government MonitoringStill, the government may have less leverage to push for a resolution over the next couple of weeks because parliament isn’t scheduled to convene until Dec. 5. That could delay the adoption of back-to-work legislation until then.Canadian Labor Minister Patty Hajdu traveled to Montreal on Monday to meet representatives from both sides. In a Nov. 16 statement, Hajdu said the federal government is monitoring the situation closely and “has faith” in the collective bargaining process.The Teamsters argue that workers are being forced to operate trains alone from outside the locomotive while hanging on to moving trains with one hand and working a remote-control device in the other, creating a safety hazard. The union is also balking at a lifetime cap on prescription drug coverage and said the company is making it more difficult to take time off and work longer hours.Canadian National fell 0.2% to close at C$123.76 in Toronto on Monday. It has gained 22% this year.(Updates with workers going on strike.)\--With assistance from Theophilos Argitis.To contact the reporter on this story: Thomas Black in Dallas at tblack@bloomberg.netTo contact the editors responsible for this story: Brendan Case at bcase4@bloomberg.net, Jacqueline Thorpe, Will DaviesFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Thousands of Canadian National Railway workers go on strike
    Reuters

    Thousands of Canadian National Railway workers go on strike

    "Conductors, trainperson and yard workers at Canadian National Railway are now officially on strike," the union said in a tweet http://bit.ly/2O10KW3. Canada, one of the world's biggest exporters of farm products, relies on its two main railways to move canola and wheat over the vast distances from western farms to ports. The union had issued a 72-hour strike action notice period to the company on Saturday after the talks reached a stalemate, setting the momentum for the first strike at Canadian National in a decade.

  • Reuters

    UPDATE 1-Canadian ministers meet with CN Rail, union in effort to avert strike

    MONTREAL/WINNIPEG, Nov 18 (Reuters) - Canada's Liberal government sent two ministers on Monday to meet with representatives of Canadian National Railway Ltd and its largest union, as already hard-hit shippers pleaded for government intervention to avert a strike planned for early on Tuesday. The threatened strike by 3,000 workers with Teamsters Canada comes after CN, the country's largest railroad operator, said on Friday it would cut management and union jobs, as it grapples with softer economic conditions. Labor Minister Patty Hajdu and Transportation Minister Marc Garneau were to meet with representatives from CN and the union in Montreal, Hajdu's press secretary Veronique Simard said, following a stalemate in contract talks.

  • Canadian ministers meet with CN Rail, union in effort to avert strike
    Reuters

    Canadian ministers meet with CN Rail, union in effort to avert strike

    MONTREAL/WINNIPEG (Reuters) - Canada's Liberal government sent two ministers on Monday to meet with representatives of Canadian National Railway Ltd and its largest union, as already hard-hit shippers pleaded for government intervention to avert a strike planned for early on Tuesday. The threatened strike by 3,000 workers with Teamsters Canada comes after CN, the country's largest railroad operator, said on Friday it would cut management and union jobs, as it grapples with softer economic conditions. Labor Minister Patty Hajdu and Transportation Minister Marc Garneau were to meet with representatives from CN and the union in Montreal, Hajdu's press secretary Veronique Simard said, following a stalemate in contract talks.

  • Benzinga

    Strike On Tuesday Looms For Canadian National After Teamsters Sends Notice To Company

    Talks are ongoing but there is now a strike notice overhanging Canadian National and its 3,200 Teamsters members. Both the company and the union announced late Saturday that the Teamsters had served a strike notice to Canadian National (NYSE: CNI). In its prepared statement, CN quoted COO and executive vice president Rob Reilly as saying the railroad had offered binding arbitration to the union but it had declined.

  • Benzinga

    Canadian National Laying Off Workers

    Canadian National (NYSE: CNI) will be laying off employees amid "weakening" economy in key sectors, the company said on Nov. 15. This includes the difficult decision of adjusting its workforce to demand levels by placing some employees on furlough and reducing both management and union job numbers due to a weakening of many sectors of the economy. In response to the news of the layoffs, Teamsters Canada Rail Conference (TCRC) President Lyndon Isaak told FreightWaves that the workers affected by CN's cuts represent a small percentage of unionized workers.

  • Reuters

    UPDATE 1-Union sets Nov. 19 strike date on Canadian National Railway if talks fail

    Canada's Teamsters labor union has given Canadian National Railway notice that it intends to strike starting Nov. 19, the two parties said on Saturday, following a stalemate in contract negotiations. The company, the largest Canadian railroad operator, offered the Teamsters Canadian Rail Conference a binding arbitration, which the union declined, CN's Chief Operating Officer Rob Reilly said in a statement.

  • Union sets Nov. 19 strike date on Canadian National Railway if talks fail
    Reuters

    Union sets Nov. 19 strike date on Canadian National Railway if talks fail

    The company, the largest Canadian railroad operator, offered the Teamsters Canadian Rail Conference a binding arbitration, which the union declined, CN's Chief Operating Officer Rob Reilly said in a statement. "If a settlement cannot be reached this weekend, we will once again encourage the union leadership to accept binding arbitration as an alternative to disrupting the Canadian economy," Reilly said.