CP Rail Workers on Strike

More than 3,000 Canadian Pacific Railway Ltd. workers walked off the job Tuesday, threatening a wider disruption in freight traffic, reportsBloomberg.

The strike by conductors and locomotive engineers began at 10 p.m. Eastern time. Negotiations with the company are ongoing, Teamsters said.

While the railroad has pledged a smooth wind down of operations, “we can’t imagine that shippers will take these assurances in stride following the subpar rail service this past winter -- particularly those in the grain, oil and lumber industries,” says Allison Landry, a Credit Suisse Group AG analyst.