Rail transport
Goldman, Morgan Stanley Limit Losses With Fast Sale of Archegos Assets
Goldman Sachs Group Inc. and Morgan Stanley were quick to move large blocks of assets before other large banks that traded with Archegos Capital Management, as the scale of the hedge fund’s losses became apparent, according to people with knowledge of the transactions. The strategy helped limit the U.S. firms’ losses in last week’s epic …
Railroads Strike a $25 Billion Merger
Canadian Pacific Railway Ltd. agreed to acquire Kansas City Southern in a merger valued at about $25 billion that would create the first freight-rail network linking Mexico, the U.S. and Canada. The companies said Sunday their boards agreed to a deal that values Kansas City at $275 a share in a combination of cash and …
Amtrak, Seeking to Break Even, Sees Some Light at the End of the Tunnel
WASHINGTON—Amtrak inched closer to breaking even last year, the company reported Friday, as rising ridership and cost cuts continued a multiyear improvement in the railroad’s financial performance. Amtrak reported an adjusted operating loss of $29.8 million across the entire national railroad network, significantly beating a previous target of a loss of $75 million in the …
If Boris Johnson wanted Britain to lead the world, he’d stop hedging his bets and back HS2 | Will Hutton | Opinion
The foundations of the dynamic economies of the 21st century will be massive agglomerations of people. In the new era of the learning machine, anything that is routine – from a production line to the legal processes surrounding buying and selling a house – will be performed by a robot. What will drive economic activity …