Scotch Tape News
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Four years into an expansion, the productivity of American workers has slowed and some economists say there are few signs it will soon rebound.
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The productivity of U.S. workers rose in the first quarter as companies focused on containing labor expenses.
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U.S. stocks rose as jobless claims fell and earnings topped forecasts, while the pound strengthened against the dollar after data showed the U.K. economy avoided a triple-dip recession. Gold rallied for a second day.
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3M Co., the maker of products ranging from Scotch tape to dental braces, cut its annual earnings forecast after quarterly profit trailed estimates for the first time in 1 1/2 years amid a slowing global economy.
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U.S. stocks rose, extending a rally in the Standard & Poor’s 500 Index to a fifth day, as earnings from United Parcel Services Inc. to Cliffs Natural Resources Inc. topped estimates and jobless claims fell.
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Jacob J. Lew pivots to Europe, a region fraught with risks to the world economy, after making China his first overseas destination as Treasury secretary last month in a nod to the strongest engine of global growth.
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The trade deficit in the U.S. unexpectedly shrank in February as stabilizing overseas markets boosted exports and Americans imported less oil.
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Orders placed with U.S. factories increased in February, boosted by a pickup in demand for motor vehicles and commercial aircraft.
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Orders for U.S. durable goods probably rose in February by the most in five months, helped by a rebound in demand for commercial aircraft, economists said before a report today.
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Orders for U.S. durable goods climbed more than forecast in February as companies looked past budget squabbles in Washington and focused on expanding capacity to meet growing demand.
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