Business

Federal agents raid Caterpillar offices in central IL

Federal agents raid Caterpillar offices in central IL

A statement from the company says only that a federal search warrant is indeed being executed at several Caterpillar facilities and that the company is cooperating to the fullest extent.

"Law enforcement is present in various Peoria-area Caterpillar facilities executing a search warrant", she said in an email.

To view the full article, register now.

The Dept. of Justice tells Fox News agents also showed up to Caterpillar's East Peoria and Morton locations.

Caterpillar has previously said it received subpoenas from a federal grand jury seeking information related to the Swiss subsidiary, known as Caterpillar SARL.

First LTE-U Devices Get Approved by the FCC
Cellular carriers in the U.S. generally hold exclusive licenses to spectrum, while Wi-Fi operates in unlicensed frequencies. These devices and Wi-Fi operations can co-exist in the 5GHz band, as has been demonstrated by voluntary industry testing.

Some Caterpillar employees were being interviewed by authorities, according to Peoria Public Radio.

Officials declined to provide details regarding the activity, but said they would not classify the actions as a "raid".

Shares of Caterpillar (CAT) fell sharply Thursday as federal investigators searched at least three of the US heavy equipment giant's IL facilities.

Caterpillar shares slid $4.73, or 4.8 percent, to $93.80 in afternoon trading. "However, we now believe that this matter will not have a material adverse effect on the Company's consolidated results of operations, financial position or liquidity", the company said in the disclosure.

In 2013 and 2014, Caterpillar subsidiary Progress Rail was the target of two investigations into environmental and other violations, at least one of which was settled with a California agency. At the time, Caterpillar denied any wrongdoing.


  • Los Angeles Kings get G Ben Bishop from Tampa Bay Lightning

    Los Angeles Kings get G Ben Bishop from Tampa Bay Lightning

    The Kings now boast two of the three 2015-16 Vezina Trophy finalists after Sunday's most unusual trade with the Lightning. Last year, he also posted a career-high.926 save percentage, just to see that number creep down to.911 this season.

    Martin Scorsese's 'The Irishman' Heads to Netflix From Paramount

    No other details have been given about the film at the time and Netflix would not comment on their purchase. The film's potential $100 million budget comes with possible risks.
    First Solar, Inc. (FSLR) Shares Up 5.1% After Better-Than-Expected Earnings

    First Solar, Inc. (FSLR) Shares Up 5.1% After Better-Than-Expected Earnings

    The Market Capitalization of the company stands at 3.73 Billion. 8,424,350 shares of the company traded hands. The company had revenue of $480.43 million for the quarter, compared to analyst estimates of $412.76 million.
  • World Rugby backs referee Poite over England v Italy ruck debate

    World Rugby backs referee Poite over England v Italy ruck debate

    And World Rugby have backed referee Romain Poite after he was criticised by Jones for his approach to Italy's tactics. We've experienced it against us a couple of times, but only once or twice in certain games.

    Abbas: Defend two-state-solution for a Palestine state

    The signatories expressed concern over President Donald Trump's hawkish views - specifically his stated intention to move the U.S. The PA, according to reports, is extremely concerned that President Trump will fulfill his promise to move the U.S.

    Hamilton says he is better prepared than ever

    With the new Formula One regulations stating that cars have to be wider, Hamilton said that he could already feel the difference. I feel more complete as a driver.
  • Kellyanne Conway & the Couch: All the Funny Memes You Need to See

    Kellyanne Conway & the Couch: All the Funny Memes You Need to See

    Criticism of Conway's behavior came on Twitter , with one user saying "What are you doing on that couch, Kellyanne Conway? ". The image was immediately decried as a show of disrespect toward Trump's assembled guests, and even to the office itself.
    Mnuchin says goal is to pass tax reform by August

    Mnuchin says goal is to pass tax reform by August

    However, experts believe that this is unrealistic considering the fact that lawmakers already have a complex agenda to deal with. The tax plan of Republican House leaders includes the border adjustment tax, which could be a major source of tax revenue.
    Disney Research Made a Room That Will Wirelessly Charge Any Phone

    Disney Research Made a Room That Will Wirelessly Charge Any Phone

    The devices will require additional hardware, as seen in the video above, in order to take advantage of the wireless technology. Their method, called quasistatic cavity resonance, has the potential to make wireless electrical power as ubiquitous as Wi-Fi.
  • NJ Dems want state protection for transgender students

    NJ Dems want state protection for transgender students

    The case goes to the Supreme Court on March 28, but Obama's transgender order was a part of that case. President Trump reversed former President Barack Obama's transgender bathroom order last week.
    Raptors' Kyle Lowry To Have Wrist Surgery, Aiming For Playoff Return

    Raptors' Kyle Lowry To Have Wrist Surgery, Aiming For Playoff Return

    One of the Celtics' biggest foes for the No. 2 seed in the Eastern Conference was dealt a giant blow on Monday. Lowry last played for the Raptors on February 15, right before the All-Star Game in New Orleans.
    Trump reiterates neutrality on two-state solution, but says he 'likes' it

    Trump reiterates neutrality on two-state solution, but says he 'likes' it

    On Friday, however, as I approached the booth after finishing class, I saw that my poster had been torn up. "We call on all artists and academics not to become an accessory to Israel's attempts at rebranding".