PEORIA, Ill. (AP) — Caterpillar Inc. said Malaysian conglomerate Sime Darby is paying $360 million for part of the former Bucyrus distribution business, which Caterpillar acquired through its $7.6 billion acquisition of the surface mining equipment maker last year. Sime Darby, one of the world's largest palm oil companies, is also a Caterpillar dealer in Asia.
WASHINGTON (AP) — Two-thirds of chief executives of the largest U.S. companies don't plan to hire in the next six months, mainly because of sluggish growth in the United States and financial turmoil in Europe. The Business Roundtable said Tuesday that about one-third of its member CEOs expect to add employees and spend more on large equipment in the next six months.
NEW YORK (AP) — Eight former Siemens senior executives and agents were charged with plotting to pay $100 million in bribes to secure a $1 billion contract to produce national identity cards for Argentine citizens, in a scam involving a "shocking level of deception and corruption," an assistant U.
WASHINGTON (AP) — Textron Inc. division E-Z-Go is recalling 21,900 TXT golf carts, Cushman shuttle vehicles and Bad Boy off-road utility vehicles due to a potential crash hazard. The U.S. Consumer Product Safety Commission and the company said Wednesday that the threaded end of a rack rod ball joint can break and the ball joint can become displaced, causing the driver to lose control of steering and possibly crash.
WASHINGTON (AP) — The U.S. Postal Service on Tuesday agreed to delay the closing of 252 mail processing centers and 3,700 local post offices until mid-May. In a statement, the cash-strapped agency said it would hold off on closings by several weeks to give Congress more time to pass legislation that would give it more authority and liquidity to stave off bankruptcy.
NEW YORK (AP) — Fertilizer maker Agrium Inc. said Wednesday that it will spend $1.5 billion to expand annual potash production capacity by 50 percent, helping it meet growing demand for fertilizer. The company also said it is significantly raising its dividend. The Calgary, Alberta, company says it is the third largest potash producer in North America.
TOKYO, Dec. 14 (Kyodo) — Nissan Motor Co. has suspended the construction of a plant in Portugal for producing lithium-ion batteries for electric vehicles as the plant has turned out to be unnecessary for the immediate future, company officials said Wednesday. The other plants, including a Japanese facility now in operation, and U.
NAPLES, Italy (AP) — Fiat and Chrysler CEO Sergio Marchionne on Wednesday heralded a modernized car plant south of Naples as the best in the Fiat-Chrysler system and an example of how Italy can emerge from the financial crisis that is threatening to engulf it. Marchionne was applauded by about 100 workers who temporarily idled production as he strode down the pristine new manufacturing line for the presentation of the new Panda subcompact, which Fiat began producing here last month.
SEATTLE (AP) — Microsoft Corp. co-founder Paul Allen and aerospace pioneer Burt Rutan are building the world's biggest plane to help launch cargo and astronauts into space, in the latest of several ventures fueled by technology tycoons clamoring to write America's next chapter in spaceflight.
SHANGHAI (AP) — China has imposed duties on imports of some U.S.-made vehicles, claiming damage from foreign automakers due to dumping and subsidies in the latest round of trade friction between the two countries. The Commerce Ministry said Wednesday that the duties would be imposed for two years on imported cars and sport utility vehicles with engine displacements of over 2.
VIRGINIA BEACH, Va. (AP) — Power tool maker Stihl Inc. plans to double the manufacturing capacity of its Virginia Beach plant. City officials plan to announce the $10.3 million expansion Tuesday. Fifty-two jobs are expected to be created. Stihl director of manufacturing Lorraine Wagner tells The Virginian-Pilot (http://bit.
ROME (AP) — Fiat says it has signed flexible labor contracts that the Italian automaker says are conditions for €20 billion (more than $26 billion) in investments over the next three years. Fiat SpA CEO Sergio Marchionne says in a statement that the deal reached Tuesday between Fiat and the unions marks "a historic development for our company and its workers.
WASHINGTON (AP) — U.S. businesses increased their stockpiles in October after slowing inventory growth in the previous month. The buildup in inventories should help the economy grow modestly in the final months of the year. The Commerce Department said Tuesday that business inventories rose a seasonally adjusted 0.
SALT LAKE CITY (AP) — Microsoft Corp. purposely duped a Utah company into believing its writing application would be included in the Windows 95 rollout, then pulled the plug so Microsoft could gain market share with its own product, an attorney said Monday in closing arguments of a $1 billion antitrust lawsuit against the software giant.
WASHINGTON (AP) — AT&T Inc. and two of its rivals have agreed to postpone their lawsuits over AT&T's acquisition of T-Mobile USA now that the $39 billion deal is in jeopardy. A federal judge quickly approved motions filed jointly Tuesday morning by AT&T and Sprint Nextel Corp.
WASHINGTON (AP) — Economic growth is picking up in the final three months of the year, fueled by higher consumer spending, rising business stockpiles and modest increases in hiring. The start of the holiday shopping season in November helped produce the sixth straight monthly increase in retail sales.
SPRINGDALE, Ark. (AP) — Cargill Inc. says the remaining laid off workers at its poultry plant in Springdale may be recalled by Christmas. Cargill spokesman Michael Martin told the Springdale Morning News (http://bit.ly/s9vTve) that the company hopes to resume production of ground turkey at the plant before Christmas.
NEW YORK (AP) — Southwest Airlines Co. on Tuesday said it ordered 208 new Boeing 737 aircraft with a value of nearly $19 billion. The Dallas airline, which operates an all-Boeing fleet, placed a firm order for 150 of the 737 Max, a new version of Boeing's most popular plane with more fuel-efficient engines.
JACKSON, Miss. (AP) — Federal workplace safety officials said Monday that they are again citing a Mississippi electrical and lighting maker for unsafe practices. The U.S. Occupational Safety and Health Administration accused Laurel-based Howard Industries of eight rules violations, which could carry a fine of up to $59,000.
OAKLAND, Calif. (AP) — Heady with their successful attempts to block trucks and curb business at busy ports up and down the West Coast, some Occupy Wall Street protesters plan to continue their blockades and keep staging similar protests despite requests to stop because they're hurting wage earners.