Caterpillar's latest restructuring move could cut 880 jobs

By Rajesh Kumar Singh CHICAGO (Reuters) - Caterpillar Inc will close two facilities in Texas and Panama and is also considering shutting its engine manufacturing plant in Illinois as part of a strategy to boost profitability and better handle business cycles, but the move could cut 880 jobs. The plant closures, which were announced internally over the past two months, were confirmed to Reuters by a company spokeswoman on Friday.

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  Caterpillar could cut nearly 900 jobs

  CNN Money
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  Caterpillar to close facilities, could cut 880 jobs

  Yahoo Finance Video

Qualcomm Board To Dump Jacobs, Jacobs Fires Back

Qualcomm Incorporated today announced that Dr. Paul Jacobs will not be re-nominated to the Qualcomm Board of Directors at Qualcomm’s Annual Meeting of Stockholders on March 23, 2018. The Board reached that decision following his notification to the Board that he has decided to explore the possibility of making a proposal to acquire Qualcomm. Following the withdrawal of Broadcom’s takeover proposal, Qualcomm is focused on executing its business plan and maximizing value for shareholders as an independent company. Dr. Jacobs has been a valued employee and director of Qualcomm since 1990, rising to the level of Chief Executive Officer and Chairman of the Board, and he has been one of the great innovators in our industry.

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  Former Qualcomm chairman Jacobs to exit board of directors

  Reuters
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  REFILE-Former Qualcomm chairman Jacobs seeking funds to buy out the...

  Reuters

U.S.-China Trade War Tensions Escalate: 5 Stocks At Risk

President Donald Trump’s deliberation of imposing indefinite tariffs on Chinese imports has placed the U.S.-China trade relations on tenterhooks. Trump is also considering investment as well as travel restrictions on China. Per CNBC, Trump has rejected a tariff proposal worth $30 billion (Euro 24.23 billion roughly) on Chinese imports for a much steeper figure of almost $60 billion (approximately Euro 48.46 billion).

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  Trump to consider trade measures against China 'in coming weeks':...

  Daily Mail
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  Indonesia pushes for Southeast Asian patrols of disputed waters

  Reuters

Trump Moves Stormy Daniels 'Hush Money' Suit to Federal Court

Stormy Daniels may face more than $20 million in damages for violating a "hush agreement" that requires her to remain silent about an affair she alleges she had with President Donald Trump in 2006 and 2007. The potential damages against Daniels, an actress in adult films whose real name is Stephanie Cliffords, were disclosed Friday in a filing in federal court in Los Angeles by Essential Consultants LLC, an entity that was set up by Trump’s personal lawyer, Michael Cohen, in 2016 to pay her $130,000 in exchange for her silence. The company moved the lawsuit, filed by Daniels last week in California state court against Trump, to federal court, saying that neither Daniels, Trump nor the LLC are

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  New Stormy Daniels claim raises dark questions

  Yahoo Lifestyle
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  CBS will air Stormy Daniels '60 Minutes' interview: report

  The Hill

Long-term US mortgage rates fall for first time this year

Long-term U.S. mortgage rates fell this week for the first time this year as the spring home buying season begins. Mortgage buyer Freddie Mac said Thursday the average rate on 30-year fixed-rate mortgages slipped to 4.44 percent from 4.46 percent last week. The benchmark rate averaged 4.30 percent a year ago.

This expert says millennials are not working enough to sa...

CNBC’s Sharon Epperson speaks with Diane Oakley, National Institute on Retirement Security executive director, about millennials facing problems with saving for retirement.

Wells Fargo in more trouble, Disney restructures, iHeartMedia files for bankruptcy, Apple helps parents

Reuters reports that Wells Fargo (WFC) is facing fresh sanctions after it tricked customers, this time in the auto sector. Regulators found that while Wells already requires its customers to have auto insurance, it was using a loophole to force more than half a million consumers who had a lapse in insurance, to double up and then made profits on those payments. Disney (DIS) is prepping for CEO Bob Iger’s retirement.

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  Consumer Confidential: Consumer Bill of Rights, iHeartMedia Files for Bankruptcy

  KTLA - Los Angeles
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  iHeartMedia Turns The Dial To Bankruptcy

  NPR.org

Pipeline Sector Rallies After `Overreaction' to New Tax Policy

Companies from billionaire Kelcy Warren’s Energy Transfer Partners LP to pipeline giant Enterprise Products Partners LP issued a slew of statements following Thursday’s declines on Wall Street as they sought to downplay the significance of the Federal Energy Regulatory Commission’s ruling that master-limited partnerships can no longer get credit for income taxes they don’t actually pay. The affected assets are large, interstate pipelines that, generally speaking, were built in an era of little competition in shipping America’s fossil fuels -- back when government oversight of shipping rates was essential. “The initial sell off was an overreaction that assumed all pipelines in the U.S. are FERC-regulated and that their cash flows were immediately going to fall,” said Rob Thummel, managing partner at Tortoise Capital Advisors.

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  Energy MLP shares plunge on revised U.S. pipeline tax rules

  Reuters
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  U.S. Pipeline Fund Hit by its Third-Largest Outflow

  Bloomberg

J&J's (JNJ) Erdafitinib Gets Breakthrough Therapy Status

Johnson & Johnson JNJ announced that the FDA has granted breakthrough therapy designation to its late-stage pipeline candidate, erdafitinib for the treatment of urothelial cancer, a type of bladder cancer. The designation from the FDA is intended to expedite the development and review of drugs with early evidence of substantial potential clinical benefit to patients, or benefit patients without current treatment options. The designation for erdafitinib was primarily based on efficacy findings from a phase II study, evaluating it in advanced urothelial cancer indication and showed an overall response rate of 42%.

• Adaptimmune Therapeutics shares soar 26% on news of positive early signs for cancer treatment

  MarketWatch
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  3 Revolutionary Cancer Treatments

  Motley Fool

Senate gives consumers free credit freezes — but also gifts for Equifax

On Wednesday evening, the Senate passed a bill that would roll back some banking regulations. Indirectly, the bill addresses Equifax’s historic data breach in which Social Security numbers and other personal data of 150 million people were exposed — a number that comprises well over half the U.S.’s adult population. Mark Warner (D-Virg.) and Elizabeth Warren (D-Mass.) had put forth a bill in January that would hold credit reporting agencies responsible for breaches, it did not progress and Congress had failed to issue a legislative response to the Equifax breach.

Goldman: These "secular growth" stocks should boom

Goldman tells its clients to buy high growth companies at reasonable valuations.

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  Best Growth Stocks To Buy

  Simply Wall St.
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  March Growth Stocks To Look Out For

  Simply Wall St.

Tech company Zuora files for $100 million IPO

Technology company Zuora released its IPO prospectus on Friday, revealing plans to trade on the public market. The cloud-computing company, which helps businesses manage subscription services, was backed by major investors like Blackrock and Benchmark. Its founder and CEO Tien Tzuo was an early Salesforce employee, and has been an outspoken advocate of subscriptions in the journalism business. It plans to list on the New York Stock Exchange under the symbol "ZUO." Here are stats for its most recent fiscal year, which ended January 31: - Revenue: $167.9 million, up about 49 percent from a year ago - Net loss: $47.2 million - Recurring profit margin: 28 percent - 950 customers in over 30 different

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  Zscaler IPO: 5 Things to Know About the New Tech Stock’s Debut

  InvestorPlace
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  Why Jay Chaudhry Decided to Take Zscaler Public

  Bloomberg

Microsoft hits back at claims it ignored sexual harassment

A senior executive said Microsoft Corp thoroughly investigates issues raised by women in the workplace and fired about 20 employees last year over complaints of sexual harassment as the company seeks to counter claims that it treats female workers unfairly. In an email to employees publicly released late on Thursday, Microsoft Chief People Officer Kathleen Hogan said Microsoft had 83 harassment complaints in 2017 out of a U.S.-based workforce of over 65,000 employees. Microsoft denies it has ever had such a policy.

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  Microsoft fired about 20 employees for harassment in one year

  CNN Money
• If you’re over 40 and work, you’re in for some big surprises

  MarketWatch

Why the U.S. Treasury Likes a Weak Dollar

The U.S. Treasury has been stealthily weakening the dollar. It isn’t clear if it is doing so consciously, but since a weaker dollar suits Treasury leadership, there probably isn’t too much concern. The key is that the Treasury is flooding the market with short-term debt that neither domestic nor foreign investors are very interested in buying.

• China's holdings of U.S. Treasurys slip to six-month low of $1.168 trillion

  MarketWatch
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  China's Holdings of U.S. Treasuries Drop to Six-Month Low

  Bloomberg

Dow’s Outgoing Chairman Got $65.7 Million in Pay for Last Year

Andrew Liveris, the outgoing chairman of DowDuPont Inc., nearly tripled his compensation last year to $65.7 million, bolstered by payments related to Dow Chemical’s merger with DuPont Co. Liveris’ compensation included a $1.9 million salary, $4.17 million annual bonus and equity grants of $16 million, some of which are tied to total-return performance, according to a regulatory filing Friday. He also got $43 million in deferred compensation and benefit distributions related to the merger. Liveris’s 2016 compensation was $23 million. Liveris, the longtime Dow CEO, initiated merger talks days after Ed Breen was named DuPont chief executive officer in October 2015. The deal temporarily created the

How to minimize your chance of an IRS audit

H&R Block says the IRS is actually six times more likely to challenge returns than what is commonly reported. One of the most intimidating things about filing your tax return is the possibility of getting audited. H&R Block, the tax preparation company, says the IRS is actually six times more likely to challenge returns than what is commonly reported.

UAL's Bad Week, Apple Magazine, Ford Recall, & Latest Trump Talk

(1:20) - United Airlines Pet Failures (9:00) - Apple Acquires Digital Magazine Texture: Apple Services Growth(13:20) - Ford Vehicle Recall and Analyst Upgrade(16:00) - Weekly White House Drama(21:00) - Episode Roundup: Podcast@Zacks.comOn today’s episode

Bear Stearns Lives On Inside JPMorgan

Ten years ago today, JPMorgan Chase & Co. announced it would buy collapsing investment bank Bear Stearns Cos. for pennies on the dollar after a weekend of emergency talks brokered by the government to avert a financial crisis. The collapse of a bigger investment bank -- Lehman Brothers Holdings Inc. -- six months later without any emergency takeover or government bailout tipped global markets into a tailspin. Goldman Sachs Group Inc. was once the global market leader in fixed-income trading, generating about twice as much revenue from that business as JPMorgan.

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  Ten years after JPMorgan/Bear Stearns deal banks may have already seen biggest gains

  Reuters
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  'Dean of Wall Street' on the fall of Bear Stearns

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