Latest News Updates From Joe Deaux

Business

U.S. Steel Foreshadows Blue-Collar Pain With 2,700 Layoffs

U.S. Steel Corp. expects to lay off about 2,700 employees as the virus forces the company to idle most of its blast furnaces.

May 1, 2020
BusinessEquipment

Caterpillar Sees Virus Pain Intensifying After Profit Trails

The world’s biggest maker of mining and construction equipment is predicting that the pain from the coronavirus crisis is far from over.

April 28, 2020
BusinessEquipment

Alcoa Cuts Supply and Pulls Outlook for Reeling Aluminum Market

One of the most recognizable names in the aluminum market offered little optimism for the industry as it’s rocked by the coronavirus crisis.

April 23, 2020
BusinessEquipment

Caterpillar Posts Worst Machine Sales Since 2016

In a further indication of the stress rippling through the construction and mining sectors, Caterpillar Inc. reported its biggest decline in global machine sales since the end of 2016.

March 12, 2020
BusinessEquipment

Caterpillar’s 2020 Outlook Adds More Gloom to Markets

Caterpillar Inc., a worldwide barometer for manufacturing, is warning of more pain to come for the global economy in 2020.

January 31, 2020
GovernmentBusiness

GM Strike Sends Another Knock to Wobbly US Steel Sector

With its midyear recovery already in doubt, the American steel industry now has a little more to worry about with each passing day a strike drags on at General Motors Co.

October 8, 2019
Business

Aluminum Giant’s CEO Sees Trade War’s Lasting Impact on Use

The trade war between the U.S. and China that’s clouded the global growth outlook will have a lasting negative effect on aluminum demand, Norsk Hydro ASA CEO Hilde Merete Aasheim said.

July 26, 2019
BusinessTechnology

Caterpillar Tops Estimates, but Investors See ‘Cracks’ in Other Businesses

Impressive results in Caterpillar Inc.’s mining business weren’t enough to assuage investor concerns about the outlook for its other businesses for the rest of the year.

April 24, 2019
Business

Caterpillar 4Q Profits Tumble; Trade With China Cited

Caterpillar Inc. posted the biggest quarterly profit miss in a decade as a China slowdown hit demand for its signature yellow construction and mining equipment.

January 28, 2019
GovernmentBusinessEquipment

Caterpillar Sales Boom Can’t Save It From Trade-War Carnage

The world on the cusp of a trade war has spooked investors, and few companies are feeling the fright more than Caterpillar Inc.

June 20, 2018

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