Slowing economy, trade wars, drag on US rail companies
OMAHA, Neb. – The slowing economy and ongoing trade disputes are dragging railroad profits down in the second half of the year. Two railroads, Union Pacific and CSX, have reported declining profit and revenue this week as they hauled less grain, imported goods and other products. Union Pacific's freight volume slid 8% in the quarter. Kansas City Southern reports quarterly results Friday and Norfolk Southern reports next week. "It feels to me like the industrial economy is wea