PEORIA, Ill.— Caterpillar's second-quarter net income rose 4.1 percent even as revenue slipped. Caterpillar earned $999 million, or $1.57 per share, in the quarter. Caterpillar Inc.' s stock fell slightly in Thursday premarket trading.» Read More
Benchmark crude for November delivery was down fell 37 cents to $89.51 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract closed down $1.83 to $89.88 per barrel.
NEW YORK-- PARTNERSHIP: Wal-Mart Stores Inc. and American Express Co. are rolling out a prepaid card that they say offers checking and debit services designed to help customers manage and control their everyday finances. BEHIND THE NEWS: The move comes as American Express is looking for new ways to expand its customer base beyond its wealthy clientele.
LOS ANGELES-- The statewide average price for a gallon of regular gasoline in California rose to an all-time high Monday, the third record-setting day in a row that is prompting calls for a federal investigation into the price spike.
SUSSEX, Wis.-- Quad/Graphics says it has agreed to a new deal worth more than $900 million to print the majority of publisher Time Inc.' s magazines. Time Inc. is a division of Time Warner Inc., based in New York. Shares of Quad/Graphics added 45 cents, or 2.4 percent, to $18.95 in afternoon trading.
AMES, Iowa-- Shares of Renewable Energy Group Inc. plunged in trading Friday after the biodiesel producer said it expects to post a loss for its fiscal third quarter. As a result, it expects to report an adjusted loss of $2 million to $7 million before interest, taxes, depreciation and amortization.
PARIS-- A major Edward Hopper retrospective in Paris reveals that the 20th century painter famed for his rendering of American life drew inspiration from France.
JOHANNESBURG-- The National Union of Mineworkers accused Anglo American Platinum Monday of "racism" as the impasse between striking miners and the world's top platinum producer escalated.
MORGANTOWN, W.Va.-- Republican Senate candidate John Raese filled in wetlands and damaged more than 2 miles of streams when he rerouted them to create waterfalls on a private, 18- hole West Virginia golf course that federal regulators say he built without the required permits.
SEATTLE-- The computers Alaska Airlines uses to check in passengers stopped working at 7:40 a.m. Monday, causing long lines of frustrated passengers who were unable to board flights that were delayed. Alaska Airlines President and CEO Brad Tilden said there might be a partial solution by noon Pacific time and a full resolution by 5 p.m..
BEDFORD, Mass.-- Progress Software Corp. said Monday that Jay Bhatt, its president, CEO and board member, is resigning to lead another software firm. Progress shares fell $2.81, or 13.1 percent, to $18.67 by midday, with more than three times the typical number of shares changing hands.
CAIRO-- Egypt's central bank says the country's net foreign reserves have dropped again in September, despite a boost from Qatar. The London- based Capital Economics research and consultancy firm says Egypt's "dangerously low" reserves level means the nation of 82 million people does not have enough to cover three months' worth of imports.
BATON ROUGE, La.-- Louisiana state agencies have released a 43- page report that provides an overview of the state's tax structure and the $6.8 billion in tax breaks on the books. The report, released Monday, was put out by the Department of Revenue and Department of Economic Development. Bobby Jindal has said a revamp of Louisiana's tax code will be his top priority.
BANGKOK-- Asian stocks fell Monday as Europe's debt crisis continued to roil markets and the World Bank cut its growth forecasts for Asia. Benchmarks in Singapore, Taiwan and mainland China also fell. Andrew Sullivan, principal sales trader at Piper Jaffray in Hong Kong, said protests in Spain and IMF concerns over Greece continue to worry investors.
BEIJING-- The World Bank cut its growth forecast for Asia on Monday in a new sign of the impact of weakening global demand and warned China's cooling economy faces the risk of a "more pronounced slowdown." The bank cut its forecast for China, the region's biggest economy, to 7.7 percent from May's 8.2 percent.
WASHINGTON-- American companies should avoid doing business with China's two leading technology firms because they pose a national security threat to the United States, the House Intelligence Committee is warning in a report to be issued Monday.
ATHENS, Greece-- Greek police say they have detained 18 union members of the state electricity company's union, including the union president, for illegally occupying a building housing the company's computer systems. The unionists had occupied the building for about four hours when riot police stormed the premises shortly before midnight.
LONDON-- The French and German governments must reduce their stakes in defense company EADS NV for the U.K. to allow a proposed merger with BAE Systems PLC to go ahead, Britain's defense secretary warned Sunday. Philip Hammond said Britain would veto the mega-merger of the aeronautics and defense companies if this requirement wasn't satisfied.
NEWARK, N.J.-- An internal report shows screeners at Newark Liberty International Airport are properly executing standard pat-downs of passengers only 16.7 percent of the time. The report obtained by The Star-Ledger of Newark also shows that screeners identify and take appropriate action on prohibited items in only a quarter of all cases.
LOS ANGELES-- California motorists faced another day of record-breaking gasoline prices Sunday, though relief appeared to be on the way. Jerry Brown ordered state smog regulators Sunday to allow winter-blend gasoline to be sold in California earlier than usual to help drive prices down.