CHICAGO, Dec 13 (Reuters) – Don’t believe the gassy hype.
The United States may be floating on an ocean of cheap,
domestically sourced natural gas. But its transportation sector
is more reliant on diesel fuel – and is using less natural gas -
than it was in the 1960s and 1970s. And industry executives say
regulatory and logistical challenges and uncertainties make it
unlikely the picture will change anytime soon.
That may come as a surprise to many investors. Over the past
decade, energy companies using hydraulic fracturing and
horizontal drilling have unlocked huge gas deposits trapped in
rock thousands of feet underneath the United States.
CHICAGO (Reuters) – U.S. manufacturers are pumping money into domestic operations again, according to government figures. But their outlay on machines, plants and other long-term investments has not returned to pre-recession levels and has failed to translate into a significant rebound in industrial jobs.
The figures on so-called “capex” spending from the U.S. Commerce Department’s Bureau of Economic Analysis offer a glimpse of the investment priorities of a sector that some argue is poised for growth after decades of contraction.
CHICAGO (Reuters) – Deere & Co (DE.N: Quote, Profile, Research, Stock Buzz) offered an unexpectedly upbeat forecast for 2014 on Wednesday, saying sales of construction and forestry equipment should offset an anticipated slowdown in demand for agricultural machinery.
Shares in the world’s largest maker of tractors and harvesters rose nearly 4 percent in premarket trading as the company also reported higher-than-expected fourth-quarter results.
CHICAGO (Reuters) – A fast-moving storm system triggered multiple tornadoes in Illinois and Indiana on Sunday, killing at least two people, injuring about 40 and flattening large parts of the city of Washington, Illinois as it crashed across the Midwest, officials said.
The storm created tornadoes in Bone Gap and Miller City, Illinois, in Mount Carmel, Noblesville and Vincennes in Indiana, and in Paducah, Kentucky, the National Weather Service said.
CHICAGO (Reuters) – A fast-moving storm system that produced at least one tornado in Illinois threatened some 53 million people across 10 Midwestern states on Sunday, U.S. weather officials said.
“A confirmed large and extremely dangerous tornado” was spotted near Washington, Illinois, located about 145 miles southwest of Chicago, the National Weather Service said.
CHICAGO (Reuters) – Caterpillar Inc (CAT.N: Quote, Profile, Research, Stock Buzz) said on Friday that it will close another plant and lay off 240 additional workers as it continues to respond to a sharp drop in demand for its earth-moving products from customers in the mining industry.
The planned shutdown of the Pulaski, Va. facility, which makes coal haulers and other equipment, is expected to be completed by mid-2014. It is the latest in a series of such closures announced by the Peoria, Ill-based heavy equipment maker.
CHICAGO, Nov 3 (Reuters) – Call it concealed-carry chic:
With all 50 U.S. states now permitting people to pack pistols in
public, it was only a matter of time before some company came to
market with an apparel line targeting the gun-toting crowd.
Remington Arms Co , which has been making
firearms for nearly 200 years, has just unveiled a collection of
clothing and accessories, including the “Smoothbore Field Coat”
($1,295) and the “Double Derringer Leather Vest” ($300).
CHICAGO, Oct 29 (Reuters) – Cummins Inc, the U.S.
maker of engines and other vehicle components, reported
lower-than-expected quarterly profit on Tuesday and cut its
full-year outlook, citing weak sales to most of the industries
its serves, including mining.
The news sent Cummins shares tumbling as much as 9.2
The Columbus, Indiana-based company said sales of all its
products had also contracted sharply in India in the most recent
quarter as a result of declining business confidence and
manufacturing activity there.
Oct 24 (Reuters) – Timken Co reported a
lower-than-expected quarterly profit on Thursday and cut its
full-year outlook yet again, citing a “slower-than-expected
economic recovery” that it said had depressed demand for its
ball bearings and specialty steel across all markets.
The news sent the company’s shares skidding as much as 11
percent on Thursday morning on the New York Stock Exchange.
CHICAGO, Oct 23 (Reuters) – Caterpillar Inc posted a
lower-than-expected quarterly profit on Wednesday and cut its
full-year forecast yet again as weak demand from mining
customers continued to bedevil the heavy equipment maker.
The Peoria, Illinois-based company also provided its first
forecast for 2014 sales, saying it expects essentially flat
results to up or down 5 percent compared with 2013.