Faraday is "excited to kick off these next steps at our Nevada facility, and bring our vision of future mobility closer to reality," the company said in a statement. Faraday announced it will work with the multinational, Los Angeles- based design firm AECOM for architecture, design and construction of the facility. Faraday unveiled a sleek, futuristic concept car in... » Read More
*China's economy shows signs of a pick up. BEIJING/ SINGAPORE, April 25- Caterpillar Inc, the world's largest maker of heavy equipment, has raised hopes that China's battered construction sector may be showing signs of life, pointing to its strongest post-holiday period in three years after a government boost. Ahead of a key week for the heavy equipment sector, with...
Caterpillar now expects 2016 earnings per share at $3.00, or $3.70 per share excluding restructuring costs. The previous forecast was $3.50 per share, or $4.00 per share, excluding restructuring costs. The company also trimmed it its 2016 sales outlook range to $40 billion to $42 billion against a previously forecast $40 billion to $44 billion.
CNBC "Halftime Report" investor Stephanie Link likes an industrial stock.
Deere shares were up about 0.06 percent at $79.66 and Caterpillar shares were 0.74 percent higher at $66.93 in late afternoon trading. Deere, a leading maker of farm and construction equipment, said 100 employees represented by the United Auto Workers will be laid off indefinitely starting April 1 at two factories in Iowa that make construction and forestry...
CHICAGO, Feb 22- Steve Irish used to farm 450 acres of rich crop fields in east-central Illinois, but that 15- year chapter of his life ended with a recent conversation with his banker. Irish was deep in debt from the farm equipment he bought, and needed to pay back the money he owed. So now Irish's tractor, combine and other machinery needed to run a grain farm is up for...
LOUISVILLE, Ky., Feb 17- Nathan Applebee's family in Seneca, Illinois has farmed using John Deere equipment since the 1930 s. "I have what I need," Applebee, 32, said after checking out a $355,000 Deere 8345 R tractor, with a 345 horsepower engine, and the latest in digital connectivity to enable precision planting. The Department of Agriculture has estimated U.S. net...
DUESSELDORF, Germany, Jan 29- Germany's anti-trust regulator said on Friday it was investigating a possible cartel of companies making agricultural machinery, particularly tractors. It did not name any targets of the probe. German agricultural trading group Baywa said the cartel office had searched its headquarters earlier this week on suspicion that some...
Caterpillar revenue slumped 23 percent as weak commodity prices and slowing economic growth in developing countries hit demand for its products.
The construction and mining equipment company saw retail sales of machinery fall for the quarter ended in December.
CNBC's Rick Santelli and Rebecca Corbin of Corbin Perception discuss a wall of worry surrounding the industrial sector and what to expect later this year.
Deere posted a sharp drop in earnings on Wednesday and forecast a further slump in agriculture and construction equipment sales in its new year.
CNBC's Rick Santelli reports the read on construction spending data from September, and the ISM manufacturing index.
South Korea's beef imports have soared as consumers balk at paying record levels for prized local Hanwoo meat.
Caterpillar ends its outsourcing deal with Navistar.
Caterpillar CEO Doug Oberhelman, discusses the company's quarterly results, buyback program and finding growth opportunities in infrastructure.
New Zealand's Fonterra is cutting jobs in an effort to shore up its cash flows amid a slump in global dairy demand, particularly from No. 1 buyer China.
Nicholas Pinchuk, Snap-On chairman & CEO, discusses how the high-end tools and equipment maker is expanding its brand.
Colin Evran, Yard Club CEO, discusses how his startup is helping contractors connect with heavy equipment owners through the online marketplace.
Japan's machinery orders rose 2.9 percent on month in March, slightly better than the 1.8 percent forecast from a Reuters poll of economists.
Doug Oberhelman, Caterpillar chairman & CEO, discusses the company's quarterly results, and how a strong U.S. dollar is impacting the top and bottom line.