3M Nears Settlement for About $5.5 Billion to Resolve Earplugs Complaints

3M Company has agreed to pay over $6.5 million to settle charges that it violated the Foreign Corrupt Practices Act by arranging overseas trips for Chinese government officials as a means to induce them to purchase 3M products.

Unions are gaining momentum as workers across various industries threaten strikes and demand better compensation and conditions, with the potential for significant economic losses and impacts on industries such as autos and Hollywood. Meanwhile, U.S. Commerce Secretary Gina Raimondo visits China to discuss trade and investment, and 3M settles a lawsuit over defective combat earplugs for over $5.5 billion. Additionally, the Biden administration is expected to announce the first ten drugs subject to Medicare price negotiations.

3M stock surges after reaching a reported $5.5 billion settlement over earplugs, providing a win for investors.

Manufacturing giant 3M will pay $6 billion to settle claims from veterans who said the company's faulty earplugs resulted in hearing loss, marking one of the largest mass torts in US history.