Monday’s business headlines

INDIANAPOLIS (WISH) – Here’s a look at Monday’s business headlines.

Rail merger

Canadian Pacific Railway has agreed to acquire Kansas City Southern for $25 billion.

The merger will create the first-ever rail network that spans across Canada, the United States and Mexico.

The deal linking factories and ports in Mexico, farms and plants in the Midwestern U.S. and Canada’s Ocean ports and energy resources.

Apple

A federal jury in Texas said Apple must pay about $308 million to Personalized Media Communications for infringing a patent associated with digital rights management.

PMC, a licensing firm, had originally sued Apple in 2015 alleging the tech giant’s iTunes service infringed seven of its patents.

Apple told Bloomberg that it was disappointed with the ruling and would appeal.

Boat show

Boat shows area back and drawing big crowds.

The Orlando boat show had a successful in-person event this year, drawing larger-than-expected crowds.

In 2020, sales of boat, marine products and services reached a 13-year peak of $47 billion, as people flocked to the water to safely enjoy the outdoors.

Cruise

Cruise lines are making plans to sail again this summer.

Tired of waiting for the CDC, at least three major lines have found an alternative way forward.

The latest announcements came from Royal Caribbean International, which will sail a ship from Nassau, Bahamas, to Cozumel, Mexico and sister line Celebrity Cruises, which will explore southern Caribbean itineraries from St. Maarten. Additional cruise lines are expected to follow with similar announcements in the coming days and weeks.