Infrastructure

Caterpillar Pares Its Guidance Amid Sluggish Demand

Caterpillar pared its earnings and revenue forecasts for the year as demand for its construction and mining equipment remained sluggish through the first quarter, with little sign of challenges easing this year.

Nokia Could Cut 10,000-15,000 Jobs Worldwide - Union

Telecom network equipment maker Nokia is likely to cut 10,000 to 15,000 jobs globally as part of a cost-cutting program following its acquisition of Franco-American rival Alcatel-Lucent, a Finnish union representative said.

Nokia's Network Sales Miss Forecast, Ups Savings Target

Nokia's net sales of telecoms equipment fell more than expected in the first quarter and the Finnish company warned earnings in its mainstay business would decline this year due to weakening demand for mobile gear in key markets.