Caterpillar shuts plant in Aurora, Illinois, that employs 800
(Reuters) – 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.
Beyond jobs, car sales to give insight on consumer health
NEW YORK (Reuters) – Forget the jobs report. The most interesting bit of U.S. economic data next week is Monday’s auto sales release, which will offer a measure of the middle-class consumer and a sector of the stock market that has had a rough ride so …
Fannie, Freddie may write down $21 billion due to U.S. tax cut: BMO
NEW YORK (Reuters) – U.S. mortgage finance giants Fannie Mae and Freddie Mac may write down $21 billion of tax-related assets if there is a deep cut in the federal corporate tax rate as promised by President Donald Trump, according to an analyst at B…
BlackRock’s active gambit ups pressure on rivals
NEW YORK/BOSTON (Reuters) – BlackRock Inc’s decision to revamp part of its stock-picking business puts further pressure on active U.S. equity managers to cut fees, change products and merge to stem a relentless, 12-year decline in assets.
Snapchat adds more accessible search feature
(Reuters) – Snap Inc said on Friday its Snapchat messaging app would add an option for users to search through photos and videos that users have posted to the public.
Toshiba likely to miss quarterly earnings deadline for 3rd time-sources
TOKYO (Reuters) – Toshiba Corp will likely miss a third deadline to report its quarterly business results, two sources told Reuters, forcing the Japanese conglomerate to ask for a fresh extension or face a possible delisting from the Tokyo Stock Exchan…
Major internet providers say will not sell customer browsing histories
WASHINGTON (Reuters) – Comcast Corp, Verizon Communications Inc and AT&T Inc said Friday they would not sell customers’ individual internet browsing information, days after the U.S. Congress approved legislation reversing Obama administration era internet privacy rules.
Fed signals it could promptly start shedding bonds from portfolio this year
NEW YORK (Reuters) – The Federal Reserve could begin shrinking its $4.5-trillion balance sheet as soon as this year, earlier than most economists expect, New York Fed President William Dudley said on Friday in the central bank’s most definitive comment…
Oil retreats, set to become first quarter’s worst-performing asset
NEW YORK (Reuters) – Oil prices fell on Friday after a three-day rally ran out of steam as a higher U.S. rig count signaled rising production from shale, contributing to the global supply glut.
Boeing’s newest, largest Dreamliner jet makes first test flight
NORTH CHARLESTON, South Carolina (Reuters) – Boeing Co’s newest and largest Dreamliner model, the 787-10, took off successfully on its first flight on Friday, kicking off a flight test program for the high-tech jet.
