Construction and Real Estate

Reuters | |

Caterpillar Inc on Friday reported a rise in second-quarter adjusted profit, as a recovery in global economic activity from pandemic lows fueled demand for its heavy machinery and construction equipment.

The company, an industrial bellwether and proxy for global economic activity, has been benefiting from higher infrastructure spending around the globe, particularly in China.

Kimberly Redmond | |

Simon Property Group Inc, the biggest mall owner in the U.S., is optimistic that retail will make a strong rebound in 2021 after a tumultuous 2020.

The country's largest operator of shopping malls reported net income of $271.5 million, or $0.86 per diluted share, for the fourth quarter, just missing the $0.87 estimate by analysts. Funds from operations (FFO) were $786.6 million, or $2.17 per diluted share, missing estimates of $2.22.

Simon chief exec...