Caterpillar Inc. Chairman Douglas R. Oberhelman and 13 directors failed to heed “red flags” that should have alerted them the company was overpaying for a Chinese mine-equipment maker, a shareholder said in a lawsuit.
U.S. stocks rose, after the Standard & Poor’s 500 Index snapped an eight-day rally yesterday, as Federal Reserve Chairman Ben S. Bernanke said the central bank’s asset purchases are not on a preset course.
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.
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.
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.
Caterpillar Inc. paid more than $9 million to settle a paralyzed worker’s lawsuit over a tractor accident that generated one of last year’s largest product- liability verdicts, people familiar with the accord said.
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.
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.