Latest News Updates From Jacob Lorinc

The decision resolves a conflict between Cleveland-Cliffs and the Canadian government, which accused the company of failing to follow through on commitments it made to preserve jobs when it acquired Stelco in 2024. 

Bernie Hall, a steelworker leading negotiations with U.S. Steel, said it’s “highly unlikely” the union will continue negotiations into 2027, putting a rough deadline on talks.

The construction industries business that makes the firm’s signature yellow construction machinery increased sales 35% as dealers stocked up on equipment.

The facility at the Big River Steel Works in Osceola will supply an intermediate product known as direct reduced iron to the site’s existing electric arc furnaces.

Caterpillar’s shares more than doubled over the past year on demand for energy equipment to power data centers.

The Appalachian region holds enough lithium — a key ingredient in EV batteries — to curb U.S. reliance on imports for centuries, the U.S. Geological Survey says.

The company’s power and energy segment — now Caterpillar’s biggest and fastest-growing segment — posted a 25% profit jump compared to the year-earlier period.

Caterpillar laid out new growth targets to boost revenue and double capital spending in a bid to capitalize on rising demand for energy to power data centers. 

The companies also identified more than 200 initiatives to boost efficiencies by adding Nippon Steel’s technological expertise to U.S. Steel operations.

Alcoa said U.S. tariffs on Canadian aluminum cost it $69 million more than the prior quarter, although higher domestic prices for the metal helped offset the hit.