Jim Dugan News
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Caterpillar Inc., the largest maker of construction and mining equipment, said it’s considering “all options” to recover losses from false accounting at a Chinese business that led to a $580 million writedown.
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Somewhere in the vast interior of China last year, almost a half-billion dollars of cash belonging to Caterpillar Inc. vanished. So how did the company soften the blow when it broke the news to investors?
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Caterpillar Inc., Komatsu Ltd. and other construction-equipment makers have built enough capacity in China to satisfy global demand twice over while sales in the country are falling, according to a research company.
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Caterpillar Inc., which is studying where to build a factory in North America, is disappointed with the Illinois legislature’s failure this week to pass a research and development tax credit.
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Caterpillar Inc. used offshore subsidiaries in Switzerland and Bermuda to avoid about $2 billion in U.S. taxes from 2000 to 2009, boosting its earnings through a “tax and financial statement fraud,” according to a Caterpillar executive’s lawsuit.
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Caterpillar Inc., the world’s largest construction and mining-equipment maker, expects to pick a site for a U.S. factory by the end of the first quarter next year.
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Fininvest SpA, the investment company of Prime Minister Silvio Berlusconi, was ordered to pay Compagnie Industriali Riunite SpA more than 540 million euros ($770 million) by an Italian court. Fininvest said it will appeal.
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Xu Biao could sit in his office waiting for orders to roll in during a Chinese building boom two years ago. Now, he’s hitting the road trying to drum up business.
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Caterpillar Inc. Chief Executive Officer Doug Oberhelman said he will campaign later this year for a cut in U.S. government debt because the issue affects customers of the largest maker of construction and mining machinery.
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Caterpillar Inc. and Vulcan Materials Co., struggling with a near three-year construction decline, are among companies that may benefit most from a $50 billion proposal to rebuild U.S. roads, railways and runways.
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