NEW YORK (AP) — Strong demand for machinery drove up Caterpillar's profit 44 percent in the third quarter and the company expects even stronger sales next year. Caterpillar's stock rose almost 5 percent in premarket trading, increasing $4.26 a share to $91.65. The world's largest maker of construction and mining equipment earned $1.
REDMOND, Wash (AP) — Microsoft Corp. said Sunday it reached a patent licensing agreement with Taiwan-based Compal, giving the software giant royalty-generating deals with more than half of the world's manufacturers of mobile devices that run Android and Chrome. Microsoft maintains that Android and Chrome use certain Microsoft patents and that manufacturers must pay to run the technology on their products.
NEW YORK (AP) — Solar energy may finally get its day in the sun. The high costs that for years made it impractical as a mainstream source of energy are plummeting. Real estate companies are racing to install solar panels on office buildings. Utilities are erecting large solar panel "farms" near big cities and in desolate deserts.
KANSAS CITY, Missouri (AP) — Ford Motor Co. confirmed its plan to build a North American version of its popular European commercial Transit van on Friday, saying it would spend $1.1 billion on upgrading its Claycomo plant to build the new model. The move will add 1,600 jobs at Claycomo, near Kansas City, where Ford hopes to have the Transit ready to join its North American lineup in 2013.
SAN FRANCISCO (AP) — California is poised to formally adopt the nation's most comprehensive so-called "cap-and-trade" system, designed to provide a financial incentive for polluters to reduce greenhouse gas emissions. State officials hope other states and Washington D.C. will follow suit with similar plans.
LONDON (AP) — Scientists are warning officials negotiating a global treaty on mercury that banning the deadly chemical completely would be dangerous for public health because of the chemical's use in vaccines. The ban option is one of several proposals on the table for a meeting later this month in Nairobi, but a final treaty isn't expected until 2013.
NEW YORK (AP) — General Electric Co.'s third-quarter profit rose 18 percent as its lending business continued to rebound. GE is a barometer of the economy because it reaches so many industries. It builds everything from jet engines to refrigerators, and its GE Capital lending arm is involved in a variety of businesses including credit cards and real estate.
WINDSOR, Ont. — Chrysler will begin rotating layoffs next week at its minivan plant in Windsor, Ont. as it reacts to a supply problem with its new engines, the company said Friday. The automaker said production of the Pentastar 3.7-litre V-6 engine has slowed at a plant in Trenton, Mich.
HELSINKI (AP) — About 30,000 Finnish metals and engineering industry workers began a strike Friday, expected to hit the country's vital export trade, with fears it could spread in two weeks' time. The industrial action came after unions and management rejected National Conciliator Esa Lonka's mediation proposal on wages and working conditions, following days of negotiations.
MINDEN, Neb. (AP) — Federal labor officials want to impose nearly $170,000 in fines on a Nebraska fiberglass company for violations of safety and health standards. The U.S. Department of Labor's Occupational Safety and Health Administration says Wednesday that America's Fiberglass Animals was cited for eight repeat and seven serious violations found during an inspection at its plant in Minden.
HELSINKI (AP) — Finnish metals group Outokumpu Oyj says it will lay off 1,300 workers worldwide to cut costs and improve profitability. The world's second largest stainless steel maker said Thursday that the layoffs and streamlining operations are aimed at saving $140 million (euro100 million) by 2012.
ONEONTA, Ala. (AP) — Potato farmer Keith Smith saw most of his immigrant workers leave after Alabama's tough immigration law took effect, so he hired Americans. It hasn't worked out: Most show up late, work slower than seasoned farm hands and are ready to call it a day after lunch or by midafternoon.
TOKYO, Oct. 20 (Kyodo) — Mitsubishi Fuso Truck and Bus Corp. will recall about 380 trucks for a third time to replace a defective part that prompted the first recall -- only to be reinstalled during a second recall to fix another problem, the transport ministry said Thursday. The trucks are part of about 46,000 trucks of the Super Great and The Great models which were recalled in 2005 and 2007 to change a defective clutch part which could make it impossible to shift gears or drive.
BUCKHANNON, W.Va. (AP) — A Pennsylvania man has died from injuries suffered in a fall at a Buckhannon wood products plant. The Inter-Mountain (http://bit.ly/pGSJjs ) reports that 44-year-old Mike Atkinson fell 40 feet to the bottom of a silo Monday while doing routine maintenance a the Weyerhaeuser plant, which was shut down at the time.
WASHINGTON (AP) — The U.S. economy appears slightly healthier than many had feared it was a few weeks ago, raising hopes that it can end the year on an upward slope. A raft of data Thursday show layoffs are trending down to a six-month low and factories in the Mid-Atlantic are growing again after contracting for two months.
STOCKHOLM (AP) — The owner of Saab Automobile says the administrator of the cash-strapped car maker's reorganization under bankruptcy protection wants to terminate the process. Swedish Automobile N.V., the Netherlands-based company that owns Saab, said Thursday that lawyer Guy Lofalk will file an application to end the reorganization process to a Swedish court.
WASHINGTON (AP) — A group of seven U.S. solar panel companies filed a federal trade complaint Wednesday against Chinese companies they accuse of "dumping" solar products on global markets to depress prices. The U.S. solar companies filed their case with the Department of Commerce and International Trade Commission.
DETROIT (AP) — A new contract between Ford Motor Co. and the United Auto Workers union will raise the automaker's labor costs by less than 1 percent a year, reaching a company goal of holding costs fairly steady, executives said Thursday. The four-year deal will raise costs by $280 million this year and around $80 million per year after that, but the increases will be offset by higher factory efficiency, other wage and benefit changes, and by hiring more workers at lower wages, the executives told reporters and industry analysts.
MAUMELLE, Ark. (AP) — A factory that produces artificial fingernails and related products in central Arkansas caught fire Thursday morning, prompting employees to evacuate the plant and several nearby small businesses. The Arkansas Department of Emergency Management said 40,000 gallons of acetone was burning at the Onyx Laboratories plant in Maumelle, just north of Little Rock.
BEIJING (AP) — China's biggest producer of rare earths is suspending production for one month in hopes of boosting slumping prices of the exotic minerals used in mobile phones and other high-tech products. This week's move by Inner Mongolia Baotou Steel Rare-Earth (Group) Hi-Tech might fuel tensions with the United States and Europe.