Diversified manufacturer 3M Co (MMM.N) reported lower-than-expected quarterly sales on Thursday, hurt by declines in its consumer business and slowing growth in Latin America.
Revenue rose 2.5 percent to $7.57 billion in the fourth quarter, below the analysts’ average estimate of $7.71 billion.
Analysts expressed disappointment in the region that includes Latin America and Canada, where sales growth slowed significantly, and in the decline in revenue in the consumer business, which includes stationery and office supplies.
U.S. employers can use arbitration agreements to require employees to resolve disputes on an individual basis, a federal appeals court has ruled, marking a victory for companies and a setback for labor groups
In a 2-1 ruling on Tuesday, the 5th U.S. Circuit Court of Appeals overturned a January 2012 National Labor Relations Board (NLRB) decision that had invalidated such an arbitration agreement used by homebuilder D.R. Read more
LONDON — Overcapacity threatens to derail a fragile recovery in the global shipping sector as ship owners and investors place orders for new vessels betting on better times, a survey showed on Thursday.
Ship owners ordered large numbers of vessels between 2007 and 2009, just as the global economy sank into its biggest crisis since the 1930s.
NEW YORK — Deutsche Bank has suspended the head of its emerging markets foreign exchange trading desk in New York in connection with ongoing investigations into the alleged manipulation of the global currency market, a source familiar with the matter said.
Diego Moraiz, who has been with the bank since 2004 and has specialized in trading the Mexican peso, was told by the bank on December 18 that he was suspended, the source said.
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