XM does not provide services to residents of the United States of America.

CPKC says possible Canada rail strike unlikely before mid-July



<html xmlns="http://www.w3.org/1999/xhtml"><head><title>CPKC says possible Canada rail strike unlikely before mid-July</title></head><body>

OTTAWA, May 23 (Reuters) -Canadian Pacific Kansas City (CPKC) said talks with the Teamsters Rail Conference Union have hit a deadlock, predicting that a legal strike or a lockout would not likely occur before mid-July.

In a statement posted on the company's website late on Wednesday, CPKC said the two sides had met from May 15 to 21 with the aid of federal mediators.

"Regrettably, and despite our best efforts, no progress was made. Additional bargaining dates have not been scheduled at this time," it said.

Earlier this month, workers at CPKC and Canadian National Railway Co who are represented by the Teamstersvoted overwhelmingly to strike as early as May 22.

But Ottawa asked the Canadian Industrial Relations Board (CIRB) to rule whether a strike would have safety implications, pushing back the potential start date for a stoppage.

A legal strike or lockout cannot occur until the CIRB renders a decision.

"While it remains unclear how long it will take for the CIRB to issue a decision, based on precedent, it is unlikely the parties will be in a position to initiate a legal strike or lockout before mid-July or later," it said.

A work stoppage could be a major dent to Canada's supply chain and negatively impact major exports, including wheat, canola, potash and coal.

The Teamsters were not immediately available for comment.



Reporting by David Ljunggren; editing by Diane Craft

</body></html>

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.