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Caterpillar profit beats estimates on buoyant global demand

Caterpillar Inc’s profit trounced forecasts for the seventh straight quarter on Thursday as buoyant global demand from construction, mining and energy industries drove a 35-percent surge in equipment sales. Caterpillar said it saw “positive economic indicators across most of the world.” It forecast stronger home and non-residential construction in North America

Hyundai Motor earnings miss forecasts on weak China sales

Seoul, South Korea (AP) - Hyundai Motor said Thursday its fourth-quarter earnings rose a lower-than-expected 3 percent, hurt by weaker overseas sales, while its operating income slumped to its lowest level since 2010. South Korea’s largest automaker said its October-December net profit was 1.03 trillion won ($970 million) on sales of

VW’s Scania backs Northvolt’s $5 billion Swedish battery plant

Northvolt's $5 billion electric-car battery plant Stockholm (Reuters) - Volkswagen-owned truckmaker Scania is to invest 10 million euros in a 4 billion euro ($5 billion) project to build Europe’s biggest battery cell plant in northern Sweden. Sweden’s Northvolt, whose CEO Peter Carlsson used to work for Tesla, is racing against rivals such as

Toyota South Africa recalls more than 700,000 vehicles

Cape Town (Reuters) - Japanese carmaker Toyota’s South African unit recalled more than 700,000 vehicles because of an issue with safety bags used in the cars, an official at Toyota South Africa said. “Toyota South Africa has initiated an immediate recall in excess of 700,000 vehicles across 10 models, including Lexus. This

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