(Reuters) -Caterpillar said on Tuesday that Chief Operating Officer Joe Creed would succeed Jim Umpleby as CEO, a move that comes as the construction equipment maker braces for an economic downturn brought on by President Donald Trump’s tariffs. Umpleby, who has been with the company for more than four decades, held the top job for…
By Tatiana Bautzer and Arasu Kannagi Basil NEW YORK (Reuters) – Citigroup beat Wall Street estimates for first-quarter profit on Tuesday as its traders reaped a windfall from volatile markets that fueled client activity. The third-largest U.S. lender’s earnings echoed those of Wall Street rivals, including JPMorgan Chase, Bank of America, and Morgan Stanley, whose…
(Reuters) – Barclays on Tuesday downgraded U.S. autos and mobility sector to “negative” from “neutral”, warning that President Donald Trump’s tariffs could pressure automakers’ earnings and curb investments. The comments echo those cited by Goldman Sachs last week, when the U.S. brokerage cut its estimate for automobile sales in the country for this year by…
By Abhirup Roy and Akash Sriram (Reuters) – Lucid is on track to launch its midsize electric SUV in 2026, company executives said on Tuesday, as the EV maker looks to tap an increasingly competitive segment dominated by rival Tesla’s bestselling Model Y crossover. “There are a lot of crazy things going on in the…
