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Stock Market & Financial Investment News

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November 9, 2012
10:48 EDTCPCanadian Pacific and United Steel Workers ratify five year agreement
Canadian Pacific and the United Steel Workers, Local 1976, representing approximately 800 clerical and intermodal workers, today announced that a five-year contract has been ratified with 87% of the membership voting in favour of the contract terms. The new collective agreement begins in January 2013 and allows for wage increases of 3% in each of the next five years. It also reflects changes that help ensure the CP pension plan is sustainable for employees, current retirees, and CP. "The members voted overwhelmingly in favour of the contract, especially given it provides good wage and benefit improvements," said Steven Hadden, President of USW local 1976. The current contract was due to expire December 31.
News For CP From The Last 14 Days
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November 26, 2014
14:05 EDTCPRailroads prepare to avoid Chicago gridlock, Bloomberg says
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08:20 EDTCPAckman says Herbalife short thesis reinforced by recent developments
"Recent developments at Herbalife reinforce our short thesis that HLF is an illegal pyramid that will collapse or otherwise be shut down by regulators," Bill Ackman stated in Pershing Square Holdings' quarterly letter to shareholders, which was released last night. "We continue to believe that the expiration of HLF’s $1.15B credit facility in 2016 is a potential catalyst for further stock price declines, as we are skeptical that the company will be able to access the credit markets in order to refinance or replace this facility," Ackman added. In the letter, Ackman also confirmed that the fund is currently doing due diligence on Actavis (ACT) to determine whether it should remain a long-term holder following the company's deal to acquire Allergan (AGN), noting that Pershing had recently met with the CEO of Actavis and were "impressed with him and his business plan for the combined company." Remarking on some of his other notable holdings, Ackman stated that Canadian Pacific’s (CP) transformation has been "nothing short of remarkable," that he believes the acquisition of Tim Hortons (THI) will create significant long-term value for Burger King (BKW) shareholders, and that early returns from Air Products' (APD) transformation are "promising."
November 25, 2014
17:26 EDTCPCanadian Pacific to purchase for cancelation over 1.2M shares
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November 19, 2014
11:14 EDTCPCowen airfreight/surface & rail analysts hold analyst/industry conference call
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November 17, 2014
16:11 EDTCPNorfolk Southern, Canadian Pacific subsidiary propose rail line transaction
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November 14, 2014
17:14 EDTCPPershing Square gives quarterly update on stakes
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