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Caterpillar Profit Rises 4.3 Percent
Caterpillar Inc. (CAT) said Friday its net quarterly profit rose 4.3 percent, helped by increased sales of engines and other machinery, and it stuck by its full year forecast, sending its shares higher.
Although the company has been pressured by higher operating costs and weak demand from U.S. builders — pressures that are expected to continue [...]
CAT, NMA at odds over mandatory U.S. emissions caps
As mining heavy equipment giant Caterpillar joined with the U.S. Climate Action Partnership (USCAP) Monday to proclaim their support for mandatory U.S. emissions reductions, the National Mining Association declared its opposition to the group’s policy proposals.
In a news conference, CAT Chairman and CEO Jim Owens said his company believes in the need for a market-based [...]
SanCasT products compete globally
A manufacturing company on Clow Lane has discovered its niche and made it work in a competitive global market.
“Our niche is service,” said Don Hutchins, vice president and general manager of SanCasT.
Situated on 22 acres off Clow Lane, the company is starting its 31st year in Coshocton, and in recent years has grown from 40 [...]
Newmont sells mine stake to Trakindo-sources
Newmont Mining and other foreign owners are selling a combined 3 percent stake in a big copper and gold mine in Indonesia to local firm PT Trakindo Utama for about $100 million, two sources told Reuters on Friday.
“They will sell 3 percent to Trakindo. That is quite certain,” said one source who is familiar with [...]
U.S. October Trade Deficit Probably Narrowed for a Second Month
The U.S. trade deficit probably narrowed for a second month in October as oil prices fell, economists project a government report today will show.
The trade gap narrowed by $1.3 billion to $63 billion, the smallest since March, based on the median of 62 forecasts in a Bloomberg News survey. The deficit shrank 6.8 percent in [...]
Tires big pain in mining world
Makers, including Goodyear, can’t keep up. Shortage boosts prices.
For those digging and hauling their way through the commodity boom, “naked” and “barefoot” are anything but sexy.
The terms refer to monster trucks without tires — a painful sight to companies scrambling to keep pace with soaring demand in the energy, mining and construction industries.
For small-time miners, [...]
Cleaner Diesel Fuels Concerns
Six weeks ahead of the rest of the nation, California will roll out a new kind of diesel fuel today that promises to be easier on the environment but may be harder on trucking company profits.
Those higher costs could end up squeezing consumers who buy the products carried by truck or drive diesel-powered cars.
The cleaner [...]
Wall Street Retreats Amid Mixed Signals
Investors concerned about erratic oil prices and a slowing economy sent stocks lower Wednesday despite strong earnings from Cisco Systems and the Federal Reserve’s pause in raising interest rates.
The stock market fell as crude futures fluctuated widely during the session. After nearing record highs after the Energy Department reported falling crude inventories, a barrel of [...]
