NEW YORK (Reuters) – St. Paul-based 3M Co, one of the world’s largest manufacturers and the maker of Post-it notes, will take new steps to ensure that its suppliers of paper, pulp and packaging provide materials that come from sustainably logged timber.
The new paper-sourcing policy, aimed at preventing the destruction of forests, comes after pressure on 3M from environmental activists, who accused the company of outdated practices that jeopardized fragile forests.
(Reuters) – U.S. chief executive officers are modestly more upbeat about the economy and almost half plan to increase capital spending over the next six months, a business group survey said on Tuesday.
CEOs expect U.S. gross domestic product to rise by 2.8 percent this year, compared to a projection of a 2.4 percent increase a quarter earlier, according to the first-quarter survey by the Business Roundtable.
NEW YORK, Feb 25 (Reuters) – German automaker Daimler AG
plans to offset higher costs for technology to cut
carbon dioxide emissions with material cost savings for at least
the next several years, Chief Financial Officer Bodo Uebber said
The cost of fuel-efficiency technology is a challenge for
big automakers, particularly as tumbling energy prices encourage
consumers to buy larger, less-efficient models.
Feb 23 (Reuters) – Congestion at the U.S. West Coast ports
could take as much as two months to unwind, according to port
and trade group officials, with retailers and other companies
bracing for further shipment delays after the apparent
resolution of a months-long labor dispute.
A tentative labor agreement involving 29 ports was announced
late on Friday involving 20,000 dockworkers. Tensions over their
lack of a contract since July had led to chronic cargo backups.
But port officials and companies warned it will take time to
restore a normal flow of traffic. [ID: nL1N0VV0KZ]
NEW YORK, Feb 19 (Reuters) – Diversified U.S. manufacturer
Emerson Electric Co is “moving to being more of a buyer”
- after shedding businesses worth $3.5 billion in recent years -
and would consider multi-billion-dollar acquisitions, the
company’s president said on Thursday.
Emerson is still exploring $500 million to $1 billion worth
of divestitures to focus the business, but President Edward
Monser said in an interview: “We’re moving to the acquisition
phase. I think we’ve done the clean-up that we needed to do.”
By Lewis Krauskopf
(Reuters) – United Technologies Corp’s (UTX.N: Quote, Profile, Research) chief executive officer said on Wednesday that he was interested in international deals that would use the company’s “trapped cash” overseas, as the U.S. conglomerate focuses on exploring acquisition opportunities of at least $5 billion.
Speaking at an investor conference, United Tech CEO Greg Hayes said: “You’d love to do an M&A deal internationally to take advantage of all that trapped cash that’s over there. That’s not to say we wouldn’t do a U.S. deal.”
By Lewis Krauskopf
(Reuters) – ADT Corp Chief Executive Officer Naren Gursahaney expects the home security company to increase its subscriber base in North America this fiscal year, excluding acquisitions, for the first time since it was spun off from Tyco International Plc more than two years ago.
“We have been in a net customer loss position through last year,” Gursahaney told Reuters in an interview. “We are closing that gap, and we expect this year to be able to turn the tide there.”
NEW YORK (Reuters) – Westinghouse Electric is hoping to take further steps toward supplying nuclear power plant equipment to India even if issues about liability are not yet resolved, the head of the company said on Thursday.
During President Barack Obama’s visit to New Delhi last month, the two countries announced a “breakthrough” designed to open India’s nuclear power sector to U.S. firms by addressing concerns for liability borne by suppliers.
(Reuters) – The falling cost of industrial robots will allow manufacturers to use them to replace more factory workers over the next decade while lowering labor costs, according to new research.
Robots now perform roughly 10 percent of manufacturing tasks that can be done by machines, according to the Boston Consulting Group. The management consulting firm projected that to rise to about 25 percent of such “automatable” tasks by 2025.
Feb 4 (Reuters) – United Technologies Corp could see
savings of as much as $75 million this year from lower prices
for oil and other commodities, although it may have to cede some
of those benefits to customers, its finance chief said on
Speaking at an investor conference, United Tech Chief
Financial Officer Akhil Johri said the benefit, which could
equate to about 5 cents to 6 cents per share, was not included
in the U.S. conglomerate’s outlook for 2015. United Tech last
month forecast 2015 earnings in a range of $6.85 to $7.05 per