Domestic News
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Second-quarter GDP marks sharp acceleration from the first quarter. The U.S. economy accelerated in the second quarter as consumers increased their spending, businesses invested more in equipment and stocked inventories, and inflation cooled. |
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House committee members and witnesses including regulators, union representatives, and the House member representing East Palestine questioned the rail industry’s own safety efforts. |
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Union Pacific Corporation reported 2024 second quarter net income of $1.7 billion, or $2.74 per diluted share. This compares to 2023 second quarter net income of $1.6 billion, or $2.57 per diluted share. |
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The Bank of Canada trimmed its key interest rate by 25 basis points for the second month in a row, bringing it to 4.5%, and said more reductions in borrowing costs were likely if inflation continued to cool in line with forecasts. |
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The threat of a Canada-wide rail strike is shunting some intermodal rail freight to the US and away from Canadian National Railway, company officials say. |
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Logistics managers have been making contingency plans since at least May, when the threat of disruption escalated. |
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Knight-Swift Transportation Holdings said its profit plunged in the latest quarter, with adjusted earnings missing management expectations, as it navigates persistently soft demand in its core truckload business. |
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The American Farm Bureau Federation, National Corn Growers Association, Biotechnology Innovation Organization, American Soybean Association, and American Biogas Council are among more than 500 organizations calling for the passage of a new Farm Bill. |
International News
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The Kuwait-Saudi railway project, launching in 2026, aims to streamline passenger and freight transport across the two nations. |
