NEW YORK - With the broad S&P 500 Index gliding once again into uncharted territory and posting four straight weeks of gains, the talk of Wall Street's rally inevitably hitting a ceiling is starting to get old.
LONDON - From ketchup to hot drinks, family-run investment firms are shaking up the consumer deals market, squeezing out private equity players and forcing them to change strategy.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.
Caterpillar to sell some South African Bucyrus units
(Reuters) - Caterpillar Inc (CAT.N) reached a $115 million deal to sell South African industrial group Barloworld Ltd (BAWJ.J) its Bucyrus distribution and support business in South Africa and Botswana.
The move follows Caterpillar's $7.6 billion 2011 takeover of Bucyrus, a maker of mining equipment, and follows the world's largest maker of earth moving equipment's normal approach of selling through independent dealers.
Barloworld also agreed to acquire other Bucyrus distribution businesses in South Africa and Botswana that had been licensed to Eqstra Holdings Ltd (EQSJ.J) affiliates for about $60 million.
The companies expect the deals to close in the third quarter.
(Reporting By Scott Malone; Editing by Gerald E. McCormick)
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