Posts From King World News

Caterpillar's global woes ripple out through supplier base

Caterpillar Inc’s (CAT.N) suppliers were feeling the pain of slumping sales at the world’s largest mining and construction equipment maker long before it announced an extensive cost-cutting program. J-TEC Chief Executive Officer Gary Roling said Peoria, Illinois-based Caterpillar, his single largest customer, had recently pushed back a big order due this month to December. “We’ve been selling to Caterpillar for a long, long time, and this year will likely be

VW scandal exposes cozy ties between industry and Berlin

Angela Merkel learned early in her political career that taking on the German car industry carries risks. It was the spring of 1995 and the newly appointed environment minister was trying to convince her cabinet colleagues to back a bold new set of anti-smog rules that included tougher speed limits and summer driving bans. Wissmann’s argument won the day, reducing Merkel to tears, according to a 2010 biography by Gerd