LABOR

Strike Set for Caterpillar: A strike at Peoria, Ill.-based Caterpillar Inc. looms at midnight Sunday after United Auto Workers negotiators rejected a revised contract proposal from the earth-moving equipment manufacturer. Caterpillar spokesman Bill Lane said the company’s latest proposal represented “significant improvement” from its initial offering. But UAW spokesman Karl Mantyla said the union’s central bargaining committee was not impressed. The extension of the labor contract expires at midnight Sunday. No further negotiations were scheduled.