Business News

• Saudi crown prince says satisfied with investment conference in Riyadh October 23, 2018
  Saudi Crown Prince Mohammed bin Salman said on Tuesday he was satisfied with the Future Investment Initiative conference as he toured the venue.
• Saudi signs deals worth $50 billion at investment event despite boycott October 23, 2018
  Saudi Arabia signed deals worth $50 billion on Tuesday, showing it can still attract investment at a conference boycotted by Western politicians and global business chiefs after the killing of journalist Jamal Khashoggi.
• Caterpillar's shares tumble on disappointing profit outlook October 23, 2018
  Caterpillar Inc disappointed investors on Tuesday by not raising its 2018 earnings forecast yet again, raising fears that the heavy-duty equipment maker may be signaling a slowdown despite posting better-than-expected quarterly profits.
• Long-time Tesla critic Citron Research goes 'long' on stock October 23, 2018
  Tesla Inc's shares rose nearly 7 percent on Tuesday, after long-time critic and short-seller Citron Research reversed its opinion on the stock to "long" from "short".
• Wall Street tumbles as weak industrials add to dour mood October 23, 2018
  Wall Street sank more than 1 percent on Tuesday as disappointing forecasts from industrial bellwethers Caterpillar and 3M piled on to concerns over Saudi Arabia's diplomatic isolation, Italy's finances and trade-war fears.
• SoftBank CEO Son won't speak at Saudi conference: source October 23, 2018
  SoftBank Group Corp Chief Executive Masayoshi Son, whose $93 billion Vision Fund drew nearly half its money from Saudi Arabia, canceled a speaking engagement at the kingdom's investment conference this week, a person close to the matter told Reuters.
• McDonald's global strength offsets U.S. weakness, shares rise October 23, 2018
  McDonald's Corp topped Wall Street estimates for same-restaurant sales on Tuesday as strong demand in international markets made up for a continued slow-down in the United States in the face of stiff competition.
• Lockheed Martin profit rises 17 percent in third quarter, sees '19 sales up 5-6 percent October 23, 2018
  Lockheed Martin Corp , the Pentagon's No. 1 weapons supplier, reported a 17 percent rise in quarterly profit on Tuesday, driven by increased production of its F-35 fighter jets.
• UTC beats profit estimates on airplane boom, lifts forecast October 23, 2018
  United Technologies Corp reported a better-than-expected quarterly profit and raised its full-year profit forecast on Tuesday as it benefited from higher sales of aircraft parts, driven by record production at planemakers Boeing and Airbus.
• United Technologies expects higher cost in 2019 due to tariffs October 23, 2018
  United Technologies Corp said on a conference call on Tuesday it expects tariffs to cost about $200 million in 2019, double its prior estimate of about $100 million.