09202018Thu
Last updateWed, 19 Sep 2018 3pm

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Companies Will Spend on Travel Aimed at Boosting Revenue

The chief financial officers at eight of 10 companies surveyed globally this spring by American Express' Global Commercial Card Group and CFO Research Services said they're spending less to send employees to staff meetings, conferences, management retreats, training and feel-good corporate gatherings.

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Marty Kittrell, CFO at Dresser, a maker of industrial valves, told researchers that requests to travel internationally on business now go to a team of senior executives that includes the CEO.

Source: USA Today

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Lawmakers Hear Testimony on Importance of Manufacturing Sector to Economy

Lawmakers on the Senate Banking, Housing & Urban Affairs Committee heard testimony Wednesday on the importance of the manufacturing sector to economic stability.

Senator Sherrod Brown (D-OH) said that a "continuing loss of US manufacturing means a greater dependence on foreign factories to produce both everyday consumer goods and the key elements of our national security, including the building blocks of our nation's infrastructure and the equipment crucial to our nation's military."

Source: RTT News

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Manufacturers Disappointed in Trade Report

The United States’ largest manufacturing group says the country’s deepening deficit suggests the economic downturn has further to go.

“The March data do not show signs that the trade decline has yet hit bottom,” said Frank Vargo, vice president for international economic affairs at the National Association of Manufacturers.

Source: Journal of Commerce

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Manufacturers Lobby Against Obama Tax Plan

Major U.S. manufacturing companies, including 3M Co and Ingersoll-Rand Co Ltd, lobbied U.S. lawmakers this week to hold back tax law changes proposed by President Barack Obama.

More than 300 executives of the National Association of Manufacturers met more than 100 lawmakers and staff on Capitol Hill, to persuade lawmakers to oppose Obama's tax proposals that many companies say will hamper their competitiveness in global markets.

Source: Reuters

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U.S. Trade Deficit Widens First Time in Eight Months

The U.S. trade deficit widened in March for the first time in eight months as the global economic slump pushed exports to the lowest level in more than two years.

The gap expanded 5.5 percent to $27.6 billion, smaller than forecast, from a nine-year low of $26.1 billion in February, Commerce Department figures showed today in Washington.

Source: Bloomberg

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