U.S. companies including Ford Motor Co. and Microsoft Corp. are poised to boost business investment to a record in 2014, using a growing cash hoard to propel corporate spending past last year’s $2 trillion.
Chief Executive Officer David Farr is focusing Emerson Electric Co. on four businesses with worldwide growth potential while shrinking his most profitable unit: the maker of wet-dry vacuums and InSinkErator disposals.
Mergers and acquisitions among manufacturers are poised to accelerate, building on the biggest quarter for global deal making since 2007, as companies focus on growth after years of cost cuts, consultant PwC said.
Emerson Electric Co., a maker of air- conditioner compressors and equipment for power plants and data centers, cut its 2013 profit forecast after a sluggish worldwide economy curbed demand in the first quarter.
Schneider Electric SA, the world’s largest maker of low- and medium-voltage equipment, is in talks about a 3.3 billion-pound ($5 billion) offer for Britain’s Invensys Plc to add industrial software and control systems.