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All major North American railroads pushed through rate increases earlier this year even as freight fell the most since 2009.

Union Pacific Corp. reported first-quarter earnings higher than analysts’ expectations as the railroad cut costs and boosted prices to mitigate a steep drop in cargo demand, pushing shares to their highest value in five months.

The U.S. Army said a Canadian Pacific Railway takeover of Norfolk Southern Corp. has the potential to harm national defense, adding opposition to the possible merger plan.

FedEx Corp. told U.S. rail regulators that it is against Canadian Pacific Railway Ltd.’s proposed merger with Norfolk Southern Corp., adding to a long list of shippers opposing the deal.

As a serial entrepreneur based in Greenwich, Connecticut, Bradley Jacobs hangs out with the big-money crowd dominated by hedge-fund and private-equity types.

Canadian Pacific Railway Ltd. asked the U.S. Justice Department to look into a “collective campaign” by large railroads to block its hostile stock-and-cash bid for Norfolk Southern Corp.

Canadian Pacific Railway Ltd.’s bid to merge with Norfolk Southern Corp. has raised concerns among Democratic lawmakers from Illinois, who sent a letter to regulators urging them to consider potential negative impacts on the Chicago rail hub.

A sharper decline in U.S. railroad cargo this quarter points to weak spots in the economy as a strong dollar crimps exports, retailers whittle down excess inventory and energy investment stalls.

Canadian Pacific Railway’s quest for a record merger depends on a blessing from the same U.S. agency that thwarted the last effort to build a transcontinental railroad.

Union Pacific Corp. reported profit that beat analysts’ estimates after cutting costs as the railroad heads for its first annual drop in sales since the recession in 2009.