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Trade talks between the U.S. and China have broken up with no agreement, hours after President Donald Trump more than doubled tariffs on $200 billion in Chinese imports. WASHINGTON (AP) -- With the Trump administration more than doubling tariffs on billions of dollars of Chinese imports, will Americans soon see higher prices on store shelves?
The rough-hewn aesthetic has would-be thieves trolling American country roads with hammers and crowbars to make off with boards and barn fixtures.
(Reuters) - Canada's main stock index rebounded from a three-week low on Monday, led by shares of energy and material companies, as global equities stabilized from their worst week this year. * At 10:10 a.m. ET (14:10 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 0.6 percent at 16,103.93, nearing its best levels since October 2018. * All of the index's 11 major sectors were higher, led by the energy sector as oil prices rose. * The financials sector gained 0.4 percent, while the industrials sector rose 0.7 percent. ...
Canada's main stock index rebounded from a three-week low on Monday, led by shares of energy and material companies, as global equities stabilized from their worst week this year. * At 10:10 a.m. ET , ...
Gold futures settle higher Friday as the dollar weakens, with bullion booking its second straight weekly gain, a day after the metal’s largest one-day drop since August.
When it comes to bitcoin mining, Canada is a natural. A temperate climate helps to keep mining equipment cool, and plentiful renewable energy from hydroelectric dams gives Canadian provinces like British Columbia a natural advantage with cheaper electricity costs. B.C. is sitting on a large surplus of hydroelectric energy, as depleted resources have resulted in the closures of many pulp and paper mills and traditional mines. The power surplus is also a result of the success of alternative energy and energy conservation initiatives. Consequently, the B.C. government’s energy arm, BC Hydro, is actively looking for new businesses, including bitcoin miners, to take up the slack and help revive stricken resource towns, and it has proposed a discounted energy rate as an incentive. BC Hydro, a B.C. government Crown corporation, is a leader in green energy programs in Canada. Scott Howard, CEO of Toronto-based Full Stack Capital, told Bitcoin Magazine that he is encouraged by the B.C. proposal and that the province is a leader in alternative and green energy programs. “BC Hydro and B.C. in general set the pace for public sector innovation in Canada. This is good news both for energy conservation and for bitcoin mining’s environmental footprint.” He added, “Bitcoin mining as a base load strengthens the power grid. Effective power generation and distribution requires a stable base load that digital mining can provide.” BC Hydro’s business development manager, Dina Matterson, said at an energy conference recently that half of the new inquiries the Crown corporation is getting are from the crypto-mining industry, and it is estimated that the inquiries could drum up 5,000 megawatts in new energy demand. Matterson said they will be submitting a proposal in early 2019 to the British Columbia Utilities Commission, which regulates BC Hydro, for a “load attraction rate,” an initial discount on electricity for new corporate customers, including cryptocurrency companies. “This rate would help BC Hydro compete with clean jurisdictions that have lower power rates than us,” she told the conference participants. “We need to get in the game.” The B.C. government hopes to connect the lumber, pulp and paper, and traditional mining companies, which have invested in generating substations and transmission lines, with new bitcoin mining startups that would rent these power utilities at reduced rates. For example, bitcoin miners in Ocean Falls, B.C., are successfully using previously abandoned power-generating stations and transmission lines, and a new bitcoin mine is under development in Houston, B.C., a once-thriving lumber town. To date, BC Hydro has provided bitcoin miners with six megawatts of power, although the utility believes there are many more crypto miners operating in the province. B.C.’s attempt to lure cryptocurrency entrepreneurs to make use of its abandoned infrastructure and surplus power resonates with global trends that signal an uptick in cryptocurrency mining. A recent report from the University of Cambridge Centre for Alternative Finance flagged the exponential increase in crypto-mining operations around the world in 2018. China remains the top country to host mining farms, but the U.S. and Canada have witnessed a rapid growth of mining-farm openings over the past year, often associated with the availability of cheap hydroelectric power, says the report. Ameer Rosic, CEO of Toronto-based Blockgeeks, is enthusiastic about the future of bitcoin mining, especially in the Canadian setting, telling Bitcoin Magazine: “Since the beginning Canada has been at the forefront of Bitcoin. I think the timing couldn’t be better for Canada to attract more bitcoin miners. B.C. has very affordable electricity and the cost of ASICs has decreased tremendously. This is a golden opportunity to stimulate local economies and put Canada as a leading player in the bitcoin mining space.” This article originally appeared on Bitcoin Magazine.
CSX Corporation’s (CSX) rail traffic volumes grew 2.3% YoY (year-over-year) to 129,960 units in Week 49 mainly driven by improved intermodal and carload performances.
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Norfolk Southern (NSC) reported a 2.2% YoY fall in its rail traffic volume in week 46. The Eastern US railroad company hauled 148,100 total cars compared with 151,460 units in the same week of last year. Norfolk’s rail traffic decline in week 46 was in contrast to the 0.04% gain registered by US railroad companies. However, in the first 46 weeks, Norfolk Southern’s overall rail traffic volumes grew 4% YoY. The company’s traffic gains were higher than the 3.7% YoY growth reported by US railroad companies during the period.
CSX’s (CSX) rail traffic volume grew 1.3% YoY to 127,094 units mainly due to an increase in carload traffic and intermodal units. In the first 46 weeks of 2018, the company recorded a 1.3% YoY increase in railcar traffic. The railroad’s rail traffic gains were lower than US railroad (FTXR) companies’ 3.7% gain during the same period.
While silver is technically a commodity like any other, precious metals are somewhat different as an asset class. Unlike crude oil, corn or lumber, the value of silver isn't limited to its consumption uses. In fact, while silver does have non-trivial industrial applications, most of its value comes from its status as an investment vehicle.
Canadian National Railway (CNI) recorded ~10.3% YoY (year-over-year) growth in its Week 42 carload traffic. Canada’s largest rail freight carrier hauled ~70,100 railcars excluding intermodal volumes in the week compared to ~63,600 units in the corresponding week last year.
Eastern US railroad company Norfolk Southern (NSC) reported a 3.3% YoY (year-over-year) fall in its carload traffic in Week 42. The company hauled ~67,800 railcars sans intermodal units in the week compared to ~70,100 in the comparable period last year.
CSX (CSX) operates in the Eastern United States and competes with Norfolk Southern (NSC). In Week 41, it reported a carload traffic growth of 4.1% YoY (year-over-year). It carried ~71,600 railcars excluding intermodal units compared to 68,700 units in Week 41 of 2017. Compared with US rail carriers’ 0.4% carload gains, CSX reported much higher gains in the same category.
Canadian National Railway (CNI) reported 2.5% YoY (year-over-year) carload traffic growth in Week 40. The railroad company hauled ~66,000 railcars excluding intermodal traffic from ~64,400 units in the same week of 2017.
Major Western US railroad company Union Pacific (UNP) recorded a ~1% YoY (year-over-year) fall in Week 40 carload traffic. In the week, the company carried ~95,300 railcars sans intermodal units compared to ~96,300 in the comparable week of 2017.
Berkshire Hathaway–owned BNSF Railway (BRK.B) saw 3.8% YoY (year-over-year) carload traffic growth in Week 40. The Western US major rail carrier moved ~106,200 railcars sans intermodal traffic in the week compared to ~102,300 units in Week 40 of 2017.
Kansas City Southern (KSU), the smallest US class I railroad, reported a marginal loss of 0.7% YoY (year-over-year) in carload traffic in week 39. The railroad hauled slightly more than 26,000 carloads during the week. KSU’s carload traffic trended in the reverse direction compared to 0.5% YoY gains reported by US railroad (XTN) companies in the week.
U.S. stock futures surge after White House officials sign re-vamped NAFTA agreement with Canada, preventing the potential for tariffs on $1.2 trillion in annual trade. Asia shares stall as investors count the cost of U.S.-China trade disputes, but new NAFTA deal boosts shares in Tokyo as markets in China remain closed for the Golden Week holiday. Global oil prices continue to rise despite Trump's plea to Saudi King Salman as traders prepare for next month's sanctions on the sale of Iranian crude.
Union Pacific’s (UNP) 7.3% YoY (year-over-year) rail traffic volume growth topped the performances of all Class I railroad companies in Week 38. The company reported 3.7% YoY carload traffic growth in the week. UNP hauled ~97,800 railcars excluding intermodal units in the week compared to ~94,300 in Week 38 of 2017.
Canadian National Railway (CNI) is the number one fright rail in Canada. In week 36, the railroad’s carload traffic declined 0.9% YoY to ~62,900 railcars from ~63,400 units in the same period last year.