Canadian Pacific Kansas City Officially Combine in $31 Billion Megamerger
The Canadian Pacific (CP) and Kansas City Southern (KCS) rail companies have officially combined to form...
The Canadian Pacific (CP) and Kansas City Southern (KCS) rail companies have officially combined to form Canadian Pacific Kansas City, or CPKC — the only single-line railway connecting Canada, the U.S., and Mexico, the companies said on April 14.
The linkup comes roughly a month after U.S. regulators approved the linkup — the result of CP purchasing KCS in December 2021 for $31 billion. The network stretches from the Canadian oil sands into Mexico and includes crude-by-rail service to the U.S. Gulf Coast.
Investors will be poring over reports from Tesla, Netflix, Bank of America, Goldman Sachs, American Express,...
Investors will be poring over reports from Tesla, Netflix, Bank of America, Goldman Sachs, American Express, and dozens of other firms this week for clues on how corporate America is faring in these confusing economic times.
Companies have made pledges to invest more than $200 billion in US manufacturing projects since the government passed two pieces of legislation—the Inflation Reduction Act and the CHIPS Act—that offer subsidies for certain manufacturing investments, the FT reported. The amount committed to clean tech and semiconductor projects is nearly double the commitments made to those sectors in 2021, and up almost 20x from 2019.
In what would be a shocking move, Samsung may ditch Google as the default search engine on its smartphones in favor of Microsoft’s AI-powered Bing, according to the New York Times. It certainly came as a shock to Google, which has launched an initiative to shield its $162 billion search business from rivals that are leveraging AI chatbot tech. Under a project called Magi, the company plans to eventually release an all-new search engine, and make AI-related tweaks to its current search product in the meantime, according to internal docs seen by the NYT.
The energy sector is off to a lower start, pressured by weakness in the...
The energy sector is off to a lower start, pressured by weakness in the crude complex. U.S. equity futures are mixed as investors brace themselves for more quarterly earnings reports.
WTI and Brent crude oil futures are trading lower, following last week’s short-covering rally as investors wait for Chinese economic data which will provide more color on the country’s demand recovery. On Tuesday, China will release its first-quarter GDP data which is expected to be positive for commodities as forecasts suggest they will account for most of 2023 demand growth. However, according to the IEA, further supply tightening by OPEC+ is anticipated to hurt economic growth during the latter half of the year. Oil exports from northern Iraq to Turkey remain halted for almost three weeks which is lending additional support to futures.
Natural gas futures are up as the NOAA’s 8-14 day outlook forecasts below-normal temperatures for key consuming regions.
