3M Co. and Deere & Co. are among U.S. employers seeing pension costs drop from a $76 billion peak, freeing up cash to spend or return to investors, as the Federal Reserve’s pullback on bond buying boosts interest rates.
3M Co., whose products range from Scotch tape to dental braces and Ace bandages, is investing in TaKadu, whose water-network monitoring services help utilities curb losses, reduce costs and increase efficiencies.
U.S. stocks slumped for the week, with the Standard & Poor’s 500 Index heading toward its first monthly decline since May, as companies from 3M Co. to DuPont Co. reported disappointing quarterly results and forecasts.
Two Russian-born scientists won the Nobel Prize in Physics for discovering graphene, a one-atom- thick “wonder material” that may transform electronics, allowing for speedier computers and folding touchscreens.
Growth in the world’s largest economy was less than originally estimated in the first quarter as an increase in the U.S. payroll tax took a bigger bite out of consumer spending than previously calculated.
U.S. stocks rose for the week, capping the longest stretch of daily gains since 2004, amid better-than-estimated corporate earnings and economic data as lawmakers voted to temporarily suspend the federal debt limit.
Congress’s top tax-writers usually chat in the Capitol, in offices just steps from the House and Senate floors. Today, Senator Max Baucus and Representative Dave Camp are 1,100 miles away, trying to build public momentum for a tax-code rewrite amid many obstacles back in Washington.
U.S. stocks retreated, giving the Dow Jones Industrial Average its biggest decline since June, amid disappointing results at companies from 3M Co. to DuPont Co. and as commodities erased their gain for the year.