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Union Pacific cost cuts sheltered profit amid freight slowdown

(Source: Reuters, July 18, 2019)

NEW YORK — Union Pacific Corp on Thursday reported a quarterly profit that beat Wall Street estimates, as the U.S. railroad operator cut costs and raised rates to overcome disruptions from record floods in the Midwest and ongoing U.S.-China trade tensions. Union Pacific said it would use workforce reductions and other cost-saving measures to stay ahead of the volume shortfall.

Full story: Yahoo Finance

Friday, July 19, 2019

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