Business

Caterpillar on Tuesday blew past Wall Street’s profit and revenue estimates on surprisingly strong demand for its construction equipment in North America and robust sales in China, pushing its shares up 7 percent in early trading. The company also raised its full-year forecasts for sales and earnings, expecting revenue in its construction business to surge
0 Comments
Traders are eagerly anticipating Thursday’s meeting of the European Central Bank (ECB), with some contemplating whether President Mario Draghi’s actions could radically reschedule when the central bank’s first rate hike could come. Back in July, Draghi said that discussions regarding a change in monetary policy stance will begin in the fall. In September, he then
0 Comments
U.S. specialty metals maker Arconic named former veteran General Electric executive Charles “Chip” Blankenship as its as chief executive, six months after its CEO resigned under pressure from an activist investor. Arconic’s stock was up 3.9 percent at $28.24 in premarket trading. Arconic’s former CEO Klaus Kleinfeld resigned in April following attempts by activist hedge
0 Comments
Saks Fifth Avenue parent Hudson’s Bay Company announced Friday that CEO Jerry Storch will step down, effective Nov. 1 to join his advisory firm Storch Advisors. The company, which also owns Lord & Taylor and Gilt Group, has not yet named a successor and HBC executive chairman Richard Baker will serve as interim CEO as
0 Comments
Tomohiro Ohsumi | Bloomberg | Getty Images American and Japanese flags in front of a monitor showing a news broadcast of North Korea’s missile launch in Tokyo, Japan, on Sept. 15, 2015. CIA Director Mike Pompeo said Thursday that North Korea is months away from perfecting its nuclear weapons capabilities. “They are close enough now
0 Comments
Boeing said on Thursday it invested in Near Earth Autonomy, a Pittsburgh-based firm that develops technologies enabling autonomous flight such as drones. In addition to the undisclosed investment, Boeing said the two companies will also explore products and applications for emerging markets such as urban mobility. It was the first investment in autonomous technologies by
0 Comments
“With a background of global growth which is now looking synchronized across the world for the first time in many years, that’s a pretty good environment in which to make money for European companies, which are very broadly based,” Stephen Macklow-Smith, head of European equity strategy at JPMorgan Asset Management, told CNBC Wednesday. In the
0 Comments
Watching General Electric struggle is painful, said Bob Nardelli, the company’s former transportation CEO and power systems CEO. GE’s famously predictable stock price has fallen 26 percent this year. John Flannery replaced Jeff Immelt as CEO in June. Earlier this month, the company made several management changes and and added Trian Partner’s founding partner and
0 Comments
Passengers on an Indonesia AirAsia flight from Australia to the holiday island of Bali described a panicked flight crew announcing an emergency and oxygen masks dropping from the ceiling after their airliner lost cabin air pressure and rapidly descended. Flight QZ535 returned safely on Sunday to the airport at Perth city where many of the
0 Comments
British police are investigating three new allegations of sexual assault against film producer Harvey Weinstein, all made by the same woman. London’s Metropolitan Police force said Sunday that the woman reported being assaulted in London in 2010, 2011 and 2015. The force said officers from its Child Abuse and Sexual Offenses Command are investigating. The
0 Comments
Italy began winding up two failed regional banks in June in a deal that committed up to 17 billion euros ($19 billion) of public money and put the lenders’ good assets in the hands of Intesa Sanpaolo. The government will pay 5.2 billion euros to Intesa, and give it guarantees of up to 12 billion
0 Comments