United States

Construction Equipment Maker Caterpillar Inc Will Shutter Five Plants

Construction Equipment Maker Caterpillar Inc Will Shutter Five Plants Peoria, Illinois based Caterpillar Inc, the maker of machinery and engines said on Thursday that the company will shutter five U. S. plants and trim approximately 820 positions.

The popular construction-equipment maker is cutting back production and employees as a response to continuous drop in demand.

Online Travel Booking Company Priceline’s CEO Resigns Over At-work Relationship

Online Travel Booking Company Priceline’s CEO Resigns Over At-work RelationshipPriceline, the online travel booking company announced on Thursday its CEO Darren Huston has resigned following an internal investigation into a personal relationship with an employee who was not under his direct supervision. However, still the relationship within the company was a violation to its code of conduct.

Sports Authority Gives Up Reorganization Plan; Will Hold Auction for the Company

Sports Authority Gives Up Reorganization Plan; Will Hold Auction for the CompanyFinancial troubles pushed Sport Chalet, the fifty seven year old, La Cañada Flintridge based chain to shutter forty seven of its of stores Southern & Northern California, Arizona, Nevada, and Utah, the company announced this month.

Federal Reserve Gives No Hint of Rate Hike; Will Closely Monitor Inflation Indicators and Global Economy

Federal Reserve Gives No Hint of Rate Hike; Will Closely Monitor Inflation Indic

There were changes in the interest rates this time but the Federal Reserve left doors open for a hike in June when the Federal Open Market Committee meets next on June 14 and15.

The recent from FOMC remained more or less the same as the earlier one and gave no strong indications regarding the decision that will be taken during the meeting in June. The intention of the Federal Reserve will surface in three weeks as the minutes for this meeting are released.

Sunverge Energy launched CenterStar Energy Services LLC that Meets HECO’s New Standard Requirements

Sunverge Energy launched CenterStar Energy Services LLC that Meets HECO’s New Standard RequirementsSunverge Energy, the well known solar renewable energy group launched CenterStar Energy Services LLC, which satisfies a significant requirement for the company that is counted among the leading companies in the fast growing industry.

For AT&T Wireless Margins Grows but Postpaid smartphone Subscriptions Drop in Q1

For AT&T Wireless Margins Grows but Postpaid smartphone Subscriptions Drop in Q1

On Tuesday, AT&T posted its first quarter earnings results that showed it lost 215,000 branded postpaid phone subscribers in the first three months of the year. AT&T has taken up a strategy to target high-end customers but it seems that did not work out well for the wireless company. However, the company revealed a prominent increase in margins for wireless consumers.

The Dallas, Texas based company said three million customers have signed in the company's unlimited mobile data plan that is accessible exclusively to the DirecTV subscribers.

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