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U.S. industrial conglomerate 3M Co. on Tuesday beat Wall Street expectations for first-quarter profit on cost cutting, sending its shares up 7% even as it warned of a potential hit to 2025 earnings from trade tensions.Bill Brown, who succeeded Mike Roman as CEO in May, laid out a restructuring plan in July focused on reining in spending and redirecting funds from mitigating legal liabilities.In February, 3M said it was targeting […]

Treasury Secretary Scott Bessent told an investor summit on Tuesday that he expects the U.S. and China will de-escalate the impasse over tariffs because it's unsustainable for both countries, FOX Business has learned.Bessent said that while negotiations haven't started, a deal is possible, a source who attended the investor summit told FOX Business. The summit was closed to the media and public and hosted by JPMorgan Chase. Bloomberg first reported […]

Beijing has asked South Korean companies to cease exporting products containing Chinese-originated heavy rare earth metals to U.S. defense firms, warning that Seoul could face sanctions. China’s Ministry of Commerce sent official notices to at least two South Korean companies recently, the Korea Economic Daily reported on Tuesday, citing sources in the South Korean transformer industry.The outlet said the letters did not specify what type of penalties South Korean companies could […]