Caterpillar Inc., the world's largest maker of construction and mining equipment, on Tuesday reported a first-quarter loss of $112 million, hurt by sharp sales declines across the globe and a big charge for recent layoffs.
General Motors Corp. could get as much as $5 billion more in federal loans, while Chrysler LLC could get $500 million as they race against government-imposed deadlines to restructure, according to a government report filed Tuesday.
Bank of New York Mellon Corp. said Tuesday that its first-quarter profit dropped an unexpectedly steep 57 percent and that it was slashing its dividend in hopes of repaying a government investment.
Investors traded stocks cautiously Tuesday as lackluster corporate results renewed questions about how quickly the economy can recover from the recession.
Executives of the nation's largest credit-card companies will meet with President Barack Obama at the White House on Thursday to discuss growing concerns about questionable practices in the industry.
A private sector group's index of leading economic indicators fell more than expected in March, but the forecast called for the recession's intensity to ease this summer.
