Railroads are slashing workers, cheered on by Wall Street to stay profitable amid Trump’s trade war
Tuesday, 21 January 2020 President Donald Trump’s trade war has hit agricultural and manufacturing hard, lowering demand for companies that move freight. But railroad stocks soared in 2019 after rail executives embraced automation and cost cutting, doubling down on the idea that the future entails longer, faster trains and fewer workers.
China's economic growth slowed to its weakest in nearly 30 years in 2019 amid a bruising trade war with the United States and sputtering investment, and more stimulus steps are expected this year to help avert a sharper slowdown. Francis Maguire reports.