News Summary: Social indexes nix Caterpillar

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COMPANY REMOVED: A U.S. investment firm has removed Caterpillar Inc. from three of its popular indexes that track socially responsible investments, citing concerns about the Israeli military’s use of company bulldozers in the Palestinian territories.

QUICK IMPACT: MSCI Inc.’s decision led mutual fund giant TIAA-CREF to divest itself of $72 million in Caterpillar stock from its “Social Choice” fund, which tracks one of MSCI’s indexes. Both decisions were made in March, but only recently disclosed.

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