Bloomberg News is reporting Cargill Inc. plans to develop industrial palm-oil plantations and processing facilities in Ivory Coast within five years. The Minnetonka-based agribusiness giant may invest $380 million in the project. Cargill is one of the biggest cocoa exporters in the West African nation, the world’s top grower of the crop.

A 3M executive says the $50 million investment is part of a "five-year strategy for China to increase annual sales 15 to 20 percent." The Maplewood-based manufacturer plans to develop new technology and products for the China market -- 3M's biggest overseas market.

The Wayzata-based agribusiness employs 6,600 employees in Minnesota, and although the cuts are not focused in any one area, Cargill won't say how many Minnesota workers will be laid off.

Wayzata-based Cargill says it has acquired the global Envirotemp FR3 fluid business and brand from Milwaukee-based Cooper Power Systems.

Minnetonka-based Cargill Inc., one of the world's largest commodities traders, claims in a new lawsuit that it was duped in a business fraud that involves the sale of fake renewable energy credits, the Star Tribune reports. The company says it arranged to buy 1.2 million biodiesel credits from a New York broker in 2010, and learned later the credits were invalid.

Viterra is a grain marketing and distribution firm powerful in North America, China, and Australia. Its stock price soared last week after it revealed it's getting buyout offers. The Wall Street Journal says Cargill is in the running against a Swiss firm, Glencore.