CP Rail’s (TSE:CP) profit hit by weak volumes 

Canada’s No. 2 railway also blamed the wildfire in northern Alberta and a stronger Canadian dollar

Canadian Pacific Railway Ltd. (TSE:CP) reported lower second-quarter earnings on Wednesday as volumes dropped, and said its chief executive officer will step down next July but remain in as an adviser.

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As long expected, the railway said President and Chief Operating Officer Keith Creel will succeed Hunter Harrison, who said in 2014 that he would retire in 2017. He has signed a three-year consulting agreement.

Canada’s No. 2 railway said weak commodity volumes, the wildfire in northern Alberta and a stronger Canadian dollar reduced revenue in the quarter.

Read the full article at: ca.finance.yahoo.com