CNS Canada –– The Baltic Dry Index, which gauges the price of moving grain and other goods by sea, is down to new historical lows, less than a month after setting the former floor. The BDI, compiled daily by the London-based Baltic Exchange, was quoted at 471 points on Wednesday after falling below 500 points […] Read more
Ocean freight rate index at historic low, again
CP revises hostile bid for Norfolk Southern, again
Reuters — Canadian Pacific Railway slammed railway Norfolk Southern on Wednesday, accusing it of misleading investors even as CP executives rolled out a new bid with increased shareholder protections to acquire the U.S.-based railroad. Executives from Canada’s second-largest railroad said the deal is now in the hands of Norfolk Southern’s shareholders, and urged its board […] Read more
Norfolk Southern rejects CP’s revised offer
Reuters — U.S. railroad operator Norfolk Southern has formally rejected a revised offer from Canadian Pacific Railway (CP), raising the prospect of a proxy battle. CP shareholder Bill Ackman said last week that CP CEO Hunter Harrison and he have both been sounded out by activists interested in a proxy fight with Norfolk Southern. Ackman […] Read more
Alberta’s farm worker bill passes, with tweaks
A more specific version of the Alberta government’s bill to extend workers’ comp and OHS regulations to paid farm workers has cleared the legislature. Bill 6, the Enhanced Protection for Farm and Ranch Workers Act, passed third reading 44-29 Thursday. It received royal assent Friday, after the legislature adjourned until Feburary. But the bill, as […] Read more
Diesel prices remain high across Prairies
CNS Canada — While the price of crude oil continues to decline across North American markets, diesel remains stubbornly high in Western Canada. Prices are equal to gasoline, or in some cases, exceeding them by as much as 10 cents in some Saskatchewan and Manitoba locations. “Diesel production in the West has been crimped by […] Read more
CP revises offer for Norfolk Southern, rebuffed again
Reuters — Canadian Pacific Railway (CP) on Tuesday revised its bid to buy U.S. railroad operator Norfolk Southern Corp, less than a week after its prior $28.4 billion proposal was rejected but the new offer was promptly rejected again. Calgary-based CP said it was now offering $32.86 in cash and 0.451 of a share in […] Read more
U.S. railway Norfolk Southern rejects CP offer
Reuters — U.S. railroad operator Norfolk Southern said Friday its board had rejected Canadian Pacific Railway’s US$28.4 billion offer, calling it “grossly inadequate” and could face substantial regulatory hurdles. A struggling coal transportation market, suppressed by weak market demand and global oversupply, has weighed on the earnings of Norfolk, making it more vulnerable as a […] Read more
Alta. to tweak farm worker bill for ‘clarity’
With consultations only just out of the gate and the legislation awaiting second reading, the Alberta government already plans to amend Bill 6, its farm and ranch worker protection bill, for “greater clarity.” While not mentioning recent vocal protests over the bill, provincial Labour Minister Lori Sigurdson announced Tuesday the bill will be amended to “make clear what […] Read more
U.S. EPA finalizes 2016 renewables target at 18.1B gallons
New York | Reuters — The U.S. Environmental Protection Agency wants energy companies to blend 18.1 billion gallons (68.5 billion litres) of biofuels into the nation’s fuel supply next year, more than in a proposal laid out in May, it said in announcing final rules on renewables use for 2014-16 on Monday. The EPA’s long-awaited […] Read more
Alta. farm bill applies to paid workers only, minister says
UPDATED, Nov. 28, 2015 — New legislation applying Alberta’s rules on workplace standards and workers’ compensation to farm workers is meant for farms’ paid employees — not for family members or neighbours helping out on family farms. The province’s labour minister has said as much after stormy early going in the government’s consultations on Bill […] Read more
