Canadian Pacific seeks opportunities in its land holdings
CN ‘cautiously optimistic’ on rail volumes
CP to acquire full ownership of Detroit River rail tunnel
Lower volumes, revenue dampen CN’s third-quarter profit
Revenue decline dampens Canadian Pacific’s Q3 profit
CP announces strategic, multi-year rail agreement with A.P. Moller - Maersk
VIA Rail to increase self-service ticketing functions
$1 billion Mexico-Canada rail link proposed
CP to own Detroit River Rail Tunnel in $312M deal
Vancouver port rail dwell times rise on Asia import surge
Ownership limits in Canadian airlines and the country’s biggest railway are set to rise in coming days, with the wrangling over a controversial transport law poised to come to an end.
Transport Minister Marc Garneau’s sprawling reform of transport laws, known as Bill C-49, is due for a vote Tuesday that will likely see elected lawmakers reject changes proposed by the unelected Senate. The bill has ricocheted between the two legislatures, but the Senate is signaling it will eventually bow to demands of elected officials to avoid what one Senator called a potential constitutional crisis.
If they do, it means the bill, first proposed a year ago, is probably set to become law this week. Though it could still face surprise delays, key portions would kick in immediately, Garneau’s spokesman Marc Roy said. These include raising the foreign ownership limit in airlines like Air Canadaand WestJet Airlines Ltd. to 49 percent, from 25 percent now.
Another would be raising the individual ownership limit in Canadian National Railway Co. to 25 percent, from 15 percent. The only person near that limit is Bill Gates, who owns a combined stake in the railway of about 15.9 percent between his investment company, Cascade Investment LLC, and his family’s charitable trust.
This article first appeared on www.bloomberg.com
About this website
Railpage version 3.10.0.0037
All logos and trademarks in this site are property of their respective owner. The comments are property of their posters, all the rest is © 2003-2020 Interactive Omnimedia Pty Ltd.
You can syndicate our news using one of the RSS feeds.