CN Rail profits nearly half in fourth quarter as cargo volumes sag

Canadian National Railway Co. CNR-T says year-over-year profits fell by nearly half in its latest quarter amid lower volumes across virtually all freight segments.The country’s largest railway is reporting net income for the three months ended Dec. 31 dropped 46 per cent to $1.15 billion, down from $2.13 billion in the same period the year before.The Montreal-based company says fourth-quarter revenue dipped three per cent to $4.36 billion from $4.47 billion a year earlier.