Caterpillar cuts 2016 profit outlook, sees China improvement
(Reuters) – Caterpillar Inc, the world’s largest maker of heavy machinery, on Friday lowered its 2016 sales and earnings outlook as steep declines in revenue from its construction, oil and gas and rail business segments hurt quarterly profit.
Wall Street inspects new pay proposal, wondering who will get dinged
(Reuters) – Wall Street bankers and traders are scrutinizing a new regulatory proposal that could restrict their pay for longer periods of time and require them to give back bonus money if deals, loans or trades they work on go bust.
U.S. regional banks brace for losses from energy loans
(Reuters) – The five U.S. regional banks most exposed to the energy sector set aside millions of dollars more in the first quarter to cover potential losses from bad loans to the struggling oil industry.
SunEdison plans to keep investments in Latam solar market
SAO PAULO (Reuters) – U.S. renewable energy company SunEdison Inc hopes to maintain its investments in Latin America’s solar energy market despite filing for bankruptcy on Thursday, a senior executive said on Friday.
GE underlying revenue falls, but company sticks to target
NEW YORK (Reuters) – General Electric Co reported lower first-quarter underlying revenue, citing weak sales of oil and gas drilling equipment, but it forecast a second-half upturn for power generation products that should help it meet its full-year ta…
Lenders ask Greece to prepare contingency package of extra reforms
AMSTERDAM (Reuters) – International lenders asked Greece on Friday to prepare a package of additional savings measures which would be passed into law now but implemented only if needed, to make sure the country reaches agreed fiscal targets.
Norfolk Southern on track to achieving 2016 savings goal: CEO
CHICAGO (Reuters) – The top executive of Norfolk Southern Corp said the railroad was on track to achieve its planned savings target of $200 million this year and that the No. 4 U.S. railroad could further trim capital spending if freight volumes remai…
Volkswagen takes $18 billion hit over emissions scandal
WOLFSBURG/FRANKFURT (Reuters) – Volkswagen (VW) said on Friday it would take a 16.2-billion-euro ($18.2 billion) hit to its 2015 results and slash its dividend to help pay for its emissions-test cheating scandal.
Don’t expect German criticism of the ECB to die down
BERLIN (Reuters) – If you look at the facts, for Germany to lay into the European Central Bank makes little sense.
GM CEO Barra’s compensation $28 million for 2015, up 72 percent
DETROIT (Reuters) – General Motors Co Chief Executive Mary Barra’s compensation for 2015 rose 72 percent from the prior year to $28 million as she guided the company to record profits, the company said on Friday.
