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Two Canadian railroads launch bidding war for rare access to Mexico
CNN
All aboard! There's a bidding war in the railroad industry. Canadian National is offering to buy Kansas City Southern for $33.7 billion, topping a $25 billion bid from rival Canadian Pacific.
Shares of Kansas City Southern (KSU) surged nearly 15% Tuesday on the news. Canadian National (CNI) fell more than 7% while Canadian Pacific was up about 1%. Canadian Pacific (CP) and Kansas City Southern agreed to merge last month, a deal that would create a transportation giant spanning all of North America from Canada to Mexico.
The retired Air Force general announced as the next chairman of the Joint Chiefs of Staff by President Donald Trump after the abrupt Friday night firing of his predecessor is a respected career F-16 pilot who is described by current and former officials who served with him as a professional with a “strong moral center.”
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Over the past 10 days, Vice President JD Vance put Ukrainian President Volodymyr Zelensky on notice, rattled the confidence of century-old allies in Western Europe during his first foreign trip, decamped to Capitol Hill to help in delicate budget talks and delivered a spirited defense of the Trump administration’s first month to a gathering of conservatives outside the nation’s capital.