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First-quarter profit shrank 45 percent and Caterpillar has lowered its expectations for full-year sales and profit because its mining business is slowing. Sales of Caterpillar-branded mining machines such as large trucks and bulldozers will drop by half this year, the company said on Monday.

Four of the region’s foremost corporate leaders discuss the economic landscape and how our workforce can succeed in it.

Caterpillar is selling a majority stake in a logistics division for about $750 million to better focus on its core businesses.The world's largest maker of construction and mining equipment said Thursday that it is selling a 65 percent interest in Caterpillar Logistics Services LLC to Platinum Equity

Equipment maker Caterpillar Inc. plans to spend $20 million to expand one of its South Carolina manufacturing plants to handle growing demand.Caterpillar said Wednesday that the expansion in Sumter, S.C., will add more than 80 jobs at the plant over the next two years.

Business groups are complaining to lawmakers about taxes in Illinois.The first in a series of hearings on the state's tax structure was held Tuesday in Chicago.Senate President John Cullerton and House Speaker Michael Madigan called for the hearings after major companies, including Caterpillar and t

Manufacturing giant Caterpillar has received approval to acquire a Chinese mining equipment maker in an $8.8 billion deal.The Peoria-based company said Friday that it had cleared the final major regulatory hurdle necessary to close the deal: approval from the Chinese government.