On Tuesday, Shares of Wells Fargo & Company (NYSE:WFC), gained 1.03% to $56.70.
Wells Fargo & Company, declared an uptick in the percentage of employees participating in 401(k) plans administered by the firm. The number of eligible employees participating in Wells Fargo-administered plans rose 13% between 2011 and 2015. Wells Fargo administers 401(k) plans for 3.8 million eligible participants employed by U.S. companies. The enhance in participation correlates to an enhance in plan sponsors opting for automatic enrollment of their participants, which now stands at 40% of Wells Fargo-administered plans as compared to 30% in 2011.
The data show increasing participation rates among younger employees, new hires and lower-earning workers over the past four years. Participation in the 401(k) plan among millennials has reached 55% contrast to 45% in 2011. For newly hired eligible employees (meaning those who have reached the one year mark of employment), participation has raised from 36% four years ago to 48% in 2015. In addition, employees in a pay range of $20,000 to $40,000 in salary are participating at a rate of 59% as compared to 47% four years ago.
Wells Fargo & Company provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. Its Community Banking segment offers checking, savings, market rate, individual retirement, and health savings accounts, in addition to time deposits and remittances; and lines of credit, auto floor plan lines, equity lines and loans, equipment and transportation loans, education and residential mortgage loans, and debit and credit cards.
Shares of AK Steel Holding Corporation (NYSE:AKS), declined -0.39% to $5.08, during its last trading session.
AK Steel Holding Corporation, declared plans to introduce one of the first commercially accessible Next-Generation Advanced High Strength Steels in the world. The new technology produces significantly improved formability at higher ultimate tensile strength levels, which provides automotive customers greater opportunities for lightweighting.
The $29 million project comprises modifying the current Hot Dip Galvanizing Line (HDGL) at AK Steel’s Dearborn Works, using new process technology to produce both coated and cold-rolled Next- Generation Advanced High Strength Steels on the same line. Modification of the HDGL is predictable to be accomplished by the Fall of 2016, with new products being shipped to customers by early 2017.
AK Steel Holding Corporation, through its partner, AK Steel Corporation, produces flat-rolled carbon, stainless and electrical steel, and tubular products in the United States and internationally. It produces flat-rolled value-added carbon steels, counting coated, cold-rolled, and hot-rolled carbon steel products; and specialty stainless and electrical steels in sheet and strip forms.
Finally, CSX Corp. (NYSE:CSX), ended its last trade with -0.79% loss, and closed at $33.76.
CSX Corporation, was again named to Newsweek’s Green Rankings for environmental efficiency and sustainable business practices. CSX has been comprised of on the ranking since it was created in 2009, and in 2015, the company ranked 96th among U.S. companies.
“Rail is the most environmentally efficient way to move freight on land, and CSX is continually pursuing new technologies and initiatives to further enhance our sustainability,” said Michael Ward, CSX chairman and chief executive officer. “We appreciate this recognition of our efforts to offer our customers a safe, reliable transportation solution that simultaneously reduces their environmental footprint.”
Recent sustainability initiatives at CSX comprise incorporating environmentally friendly development features in new facilities and undergoing an LED lighting retrofitting program in existing buildings and terminals. The company also continues to invest in technological advances in fuel efficiency, such as the Trip Optimizer locomotive fuel efficiency software created with GE and Evolution Series locomotives. As a result, CSX moved one ton of freight an average of 483 miles on one gallon of fuel in 2014, the company’s most fuel-efficient year ever.
CSX’s sustainability strategy is focused on three main areas: reducing the environmental footprint of operations, engaging openly on sustainability issues, and supporting sustainable development. The company discloses performance data through the Carbon Disclosure Project and Dow Jones Sustainability Index. CSX also releases an annual Corporate Social Responsibility Report, which measures progress on environmental performance and sets aims for the future.
CSX Corporation, together with its auxiliaries, provides rail-based transportation services in the United States and Canada. It offers traditional rail services, and transports intermodal containers and trailers.
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