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Capital Goods Machinery

  • BUENOS AIRES, April 3- Argentine growers have been energized by the country's new tax and trade policies, setting the stage for increased grains planting and farm investment, the head of the local unit of agricultural machinery company Deere& Co said on Monday. The free-trade policies of President Mauricio Macri, elected in 2015 after an eight-year feud between...

  • March 31- Caterpillar Inc said on Friday it will shut its Aurora, Illinois, plant, costing about 800 employees their jobs as the world's largest construction and mining equipment maker shifts production to other U.S. facilities. The company said it will transition its large wheel loaders and compactors to its plant in Decatur, Illinois, and medium wheel loaders...

  • Earlier this month, U.S. law enforcement officials raided three of the heavy machinery manufacturer's Illinois facilities as part of an Internal Revenue Service probe related to profits earned by the company's Swiss parts unit, Caterpillar SARL. The IRS has demand that the company pay $2 billion in taxes and penalties for profits assigned to the Swiss unit.

  • March 16- Caterpillar Inc said it had retained former U.S. Attorney General William Barr as outside counsel and tasked him to help the company address an ongoing government investigation of its import and export practices. Earlier this month, U.S. law enforcement officials raided three of the heavy machinery manufacturer's Illinois facilities as part of an...

  • *BOJ seen keeping policy steady at two-day meeting, March 15-16. TOKYO, March 13- Japan's core machinery orders unexpectedly fell in January from the previous month and dipped the most in five months, adding to worries about whether recent signs of economic recovery will be sustainable. I am somewhat worried, but machinery orders are volatile so it's necessary to...

  • *BOJ seen keeping policy steady at two-day meeting, March 15-16. TOKYO, March 13- Japan's core machinery orders unexpectedly fell in January from the previous month and dipped the most in five months, adding to worries about whether recent signs of economic recovery will be sustainable. I am somewhat worried, but machinery orders are volatile so it's necessary to...

  • This company wants to save New Zealand's beaches by pulverizing beer bottles into sand

    A brewery in New Zealand designed a machine that crushes beer bottles into a sand substitute to save the country's beaches.

  • Dual cameras are a trend now: ASM Pacific CEO

    Lee Wai Kwong, CEO of ASM Pacific Technology, talks about the precision technology needed to produce high-tech camera equipment.

  • CHICAGO, March 2- Federal law enforcement officials searched three facilities of heavy machinery manufacturer Caterpillar Inc on Thursday, a spokeswoman for the U.S. Attorney Office for the Central District of Illinois said, prompting a sharp selloff in the company's stock. The spokeswoman, Sharon Paul, confirmed that federal law enforcement activity was...

  • CHICAGO, March 2- Federal law enforcement officials searched three facilities of heavy machinery manufacturer Caterpillar Inc on Thursday, a spokeswoman for the U.S. Attorney Office for the Central District of Illinois said, and the company's stock fell. The spokeswoman, Sharon Paul, confirmed that federal law enforcement activity was conducted at...

  • CHICAGO, March 2- Federal law enforcement officials searched facilities of heavy machinery manufacturer Caterpillar Inc in Peoria, Illinois, on Thursday, and the company's stock tumbled. Sharon Paul, spokeswoman for the U.S. Attorney Office for the Central District of Illinois, confirmed that federal law enforcement activity was conducted at three...

  • SAO PAULO, Feb 24- Chinese heavy machinery maker Xuzhou Construction Machinery Group Co Ltd is in talks with Brazilian engineering firm OAS SA to form a joint venture for construction in Africa and Latin America, a person with direct knowledge of the matter said on Friday. The venture would be the first major step in OAS's efforts to rebuild itself almost three...

  • CHARLOTTETOWN, Prince Edward Island, Dec 15- For years, heavy equipment operator Ashley Underhill has tried to defy the notion that one could only make a good living in Canada's poorer east coast by spending most of the time away from the family in the nation's western oil patch. "People are really scrounging out here in the Maritimes, looking for work," said...

  • Japan's October core machinery orders rose for the first time in three months to beat expectations.

  • *Oct core orders +4.1 pct m/m vs forecast +1.0 pct. TOKYO, Dec 12- Japan's October core machinery orders rose for the first time in three months to beat expectations, government data showed- a tentative sign of a pickup in capital expenditure. "Machinery orders are basically flat but picking up slightly," said Takeshi Minami, chief economist at Norinchukin Research...

  • Yen depreciation favorable for corporate profits: Economist

    The authorities are likely to be comfortable with the current level of the Japanese yen, says Nomura's Takashi Miwa.

  • Dec 1- Caterpillar Inc, the world's largest construction and mining equipment maker, said Wall Street's earnings expectations for 2017 were "too optimistic" as oil prices continued to remained volatile. Analysts on average were expecting 2017 earnings of $3.25 per share and revenue of $38 billion, according to Thomson Reuters I/B/E/S. For 2016, the company had...

  • Dec 1- Cummins Inc, a U.S. manufacturer of engines for large trucks, is preparing to explore the sale of a business that makes filters and coolants, potentially valuing it at more than $1.5 billion, according to people familiar with the matter. The move comes as weak heavy-duty truck production in North America and poor global demand for power generation equipment...

  • SHANGHAI, Nov 25- After five years of falling revenue, forecourts overcrowded with unsold machinery and idle factories, China's push to build a modern day Silk Road is fuelling a recovery for the country's heavy equipment industry, according to executives from many companies gathered in Shanghai this week. Industry sales in China peaked that year at $35...

  • *Durable goods orders increase 4.8 percent in October. WASHINGTON, Nov 23- New orders for U.S. manufactured capital goods rebounded in October, driven by rising demand for machinery and a range of other equipment, the latest indication of an acceleration in economic growth early in the fourth quarter. The brightening economic outlook received a further boost...