The cloudy outlook for the year came as Caterpillar reported a fourth-quarter profit less than half as big as a year ago because of a deal in China that went bad and slower growth around most of the world.
Caterpillar Inc. is the largest maker of construction and mining equipment, so its performance rises and falls with the world's economy. It tries to predict where the economy is headed so it knows how many excavators, bulldozers and mining trucks to build.
Boeing 787 probe shifts to monitoring system makerTOKYO (AP) â¿¿ The joint U.S. and Japanese investigation into the Boeing 787's battery problems has shifted from the battery-maker to the manufacturer of a monitoring system. Japan transport ministry official Shigeru Takano said Monday the probe into battery-maker GS Yuasa was over for now as no evidence was found it was the source of the problems. Ministry officials said they will inspect Kanto Aircraft Instrument Co. on Monday as part of the ongoing investigation. It makes a system that monitors voltage, charging and temperature of the lithium-ion batteries. ___ Barnes & Noble executive plans more store closings NEW YORK (AP) â¿¿ Barnes & Noble plans to continue to shrink its store base. The head of Barnes & Noble's retail group, Mitchel Klipper, said in an interview published Monday in The Wall Street Journal that the company will have 450 to 500 stores in a decade. That's down from about 689 currently. Klipper said the chain plans to close about 20 stores a year over the period. The largest traditional U.S. bookstore has been facing tough competition from online retailers and discounters ___ By The Associated Press(equals) The Dow closed down 14.05 points, or 0.1 percent, at 13,881.93. The S&P 500 fell 2.78, or 0.2 percent, to 1,500.18. The Nasdaq composite index added 4.59, or 0.2 percent, to 3,154.