CN Rail earnings dip but top expectations as shipments fall

Canadian National Railway Co reported better-than-expected second-quarter earnings on Monday even as a decline in shipments cut into revenue, but said it expects volumes to improve in the months ahead. Chief Executive Luc Jobin said the railway faced a "very challenging volume environment" in the quarter, but sees business improving in the second half. Montreal-based CN Rail confirmed its forecast for full-year earnings per share in line with last year's C$4.44 a share.