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Household spending climbed more than forecast in August and incomes also rose as the biggest part of the U.S. economy continued to power past a global slowdown.

Caterpillar Inc., the world’s biggest mining and construction machinery manufacturer, reduced its sales forecast and said it will cut as many as 10,000 jobs over four years in response to a slowdown in the mining and energy industries.

Add diesel to the commodities flooding global markets from China.

The momentum in orders for business equipment stalled in August after gains the prior two months as U.S. investment took a breather amid volatility in financial markets and concerns that global growth is slowing.

Volkswagen AG CEO Martin Winterkorn, who during nearly a decade at the helm catapulted VW to the top spot in global sales, stepped down after admitting the automaker cheated on U.S. emissions tests.

Govs. Chris Christie of New Jersey and Andrew Cuomo of New York want the federal government to pay half of a $20 billion commuter rail tunnel under the Hudson River.

New-home construction in the United States fell in August, indicating the real estate recovery will take time to evolve.

Manufacturing in the New York region contracted in September for a second straight month, reflecting declining orders and employment.

OPEC trimmed estimates for supplies from outside the group in 2016 as the slump in prices takes its toll on the U.S. shale-oil industry.

Oil jumped the most in more than six years, caught up in a relief rally that swept the globe as the U.S. economy grew more than predicted.