Caterpillar Inc. ( CAT ) is selling the equipment, distribution and support business, formerly operated by Bucyrus International in South Africa and Botswana, to Barloworld for $115 million. Caterpillar has also assigned to Barloworld its agreements with Eqstra NH Equipment (Pty) Limited and Eqstra Botswana (Pty) Limited for the purchase of Eqstra's South Africa and Botswana Bucyrus distributorship and mining services businesses
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We maintain our long-term Neutral recommendation on Polo Ralph Lauren Corporation ( RL ) with a target price of $160.00 per share.
Posted 5/31/2012 6:30 PM by Zacks Equity Research from Zacks.com in Investing , Business , Stocks | Like it Don't like it Referenced Stocks: CLC , PKX , SHLO , SIM POSCO-CFPC, a processing entity of Korean steel maker POSCO ( PKX ), recently declared a positive end to its efforts to provide various high quality services to its clients through its self-sufficient platform. The center, located in Huanan, China, started its operation in 2004 with a capital base of $22.3 million, and it has several functional units such as Production, Carbon Steel Sales, Stainless Steel Sales, QSS Innovation and Management. POSCO-CFPC's sole purpose is to enhance the company's presence in China by establishing a supply chain for POSCO's manufactured steel products, along with lending support to its clients through several types of financial and operational assistance
Fears that Greek businesses may be unable to pay their euro-denominated debts intensified Thursday, when two big companies that sell policies to cover exporters against losses from businesses that don't pay their bills said they will stop insuring Greek transactions. The announcement signals increasing difficulties for Greek businesses to get trade credit, which is necessary to import goods and thus keep the nation's economy running, and is one of the latest -- and most dangerous -- developments in the country's chronic financial crisis. The situation is growing so dire, analysts have begun to wonder how exactly Greece will be able to keep the lights on if the current crisis and, more specifically, speculation about the country exiting the common euro currency union, keeps going on for much longer. People offering trade credit to Greece have been skittish in recent weeks as talks have intensified regarding a potential exit from the euro zone.
Follow The Daily Ticker on Facebook! A trio of reports Thursday -- ADP payrolls, weekly jobless claims and a downward revision to first-quarter GDP -- reinforced a perception the U.S. economy has slowed considerably since early 2012. Taken together, the reports simultaneously raised the stakes and lowered expectations for Friday's already crucial government jobs report.
Top 5 Highest Yielding Zacks #1 Ranked International Bond Mutual Funds – Highest Yielding Zacks #1 Ranked Funds
The international bond market has come to represent a particularly lucrative opportunity for investors. Though the U.S. bond market continues to attract investors, it has featured infrequently among the best performing international markets.
Posted 5/31/2012 2:31 PM by Zacks Equity Research from Zacks.com in Investing , Business , Stocks | Like it Don't like it Referenced Stocks: BP , CEO , LNG U.K. based energy giant BP Plc ( BP ) has inked a Memorandum of Understanding (MoU) with Indonesia's state electricity company - PT.PLN (Persero) - to make liquefied natural gas (LNG) available on a long-term basis. The supply of LNG is meant for domestic Indonesian requirements as well as to support PLN in providing electricity to Teluk Bintuni Regency, Papua Barat province
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Posted 5/31/2012 2:30 PM by Zacks Equity Research from Zacks.com in Investing , Business , Stocks | Like it Don't like it Referenced Stocks: BP , HES Hess Corporation ( HES ) has struck an asset sale deal with Royal Dutch Shell Plc ( RDS.A ) related to its stake in an oilfield off the Scottish coast. The company did not disclose the financial terms of the transaction, which is subject to the regulatory approval. Per the deal, Hess aims to offload its 15.67% stake in the BP Plc ( BP ) run Schiehallion field, a related share in the Schiehallion floating, production, storage and offloading vessel (FPSO) and the West of Shetland pipeline system.
Antonio Brufau, CEO of Spanish oil company Repsol renewed his resolve to seek punitive damages from Argentina 's government following its seizure of the company's subsidiary YPF. The company already has a $10 billion compensation lawsuit against Argentina and commenced arbitration proceedings with the World Bank's International Center for Settlement of Investment Disputes this month
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Thousands of Ecuadoreans this week are trying to force Chevron Corp., the second-largest U.S.