Union Pacific, Norfolk Southern plan $85 billion merger; Mars boosts US manufacturing investment; Office attendance edges lower

Union Pacific and Norfolk Southern announced plans for an $85 billion merger that would create the nation’s first-ever provider of coast-to-coast rail freight services. The companies touted potential benefits such as lower supply chain costs and shortened transit times enabled by a unified railroad network.

Subject to regulatory approval, Union Pacific will acquire Norfolk Southern in a stock and cash transaction, as the railroad firms plan to connect more than 50,000 route miles across 43 states, linking about 100 ports across North America.

“This combination will transform the U.S. supply chain, unleash the industrial strength of American manufacturing, and create new sources of economic growth and workforce opportunity that preserves union jobs,” the companies said in a joint statement Tuesday.

Company executives said the planned Union Pacific Transcontinental Railroad is expected to “compete more effectively with Canadian railroads to win back U.S. freight volume and American jobs.” The firms said the merger will “unlock rail options for shippers in regions where railroad connections are less efficient,” such as the Ohio Valley and both sides of the Mississippi River.

The railroad industry for decades has been operated primarily by regional-focused carriers. Omaha, Nebraska-based Union Pacific operates in 23 western states, while Atlanta-based Norfolk Southern serves 22 mostly eastern states, according to company statements. 

Food products maker Mars, whose wide-ranging brands include Snickers, M&Ms, Dove and several pet foods, plans to invest $2 billion into U.S. manufacturing through 2026, adding to its $6 billion in spending during the past five years. The latest plans are tied to “building a stronger, more resilient business in the U.S.,” Mars Chief Financial Officer Claus Aagaard said in a statement Tuesday

McLean, Virginia-based Mars said it plans to follow up on this week’s opening of a Nature’s Bakery facility in Salt Lake City, Utah, which marked a $240 million investment in its snack bar production, though upcoming projects were not specified. Mars said 94% of its products sold in the U.S. are now produced at facilities nationwide.

Company officials said the new Nature’s Bakery plant, spanning more than 339,000 square feet, will eventually create more than 230 new jobs. Mars earlier this year opened a $450 million production facility for its Royal Canin pet food brand in Lewisburg, Ohio, creating up to 270 jobs.

Mars’ latest increase in domestic production comes after firms in several industries have recently announced significant developments of domestic manufacturing plants. Those include makers of pharmaceuticals, computer chips, motor vehicles and related components, as companies seek to minimize financial effects from current and pending tariffs on imported products. 

Average office attendance for 10 large U.S. regions dipped below a post-pandemic peak reached in the prior week but still posted at 54.7% of the pre-pandemic level in the week ended July 23, according to the latest Kastle Systems figures.

Based on anonymous keycard data from the security technology firm’s office property clients, the average reached 54.9% in the week ended July 16, topping the previous post-pandemic high of 54.5% registered in early March. Average attendance has consistently topped 51% in 2025 as companies ramp up in-office work requirements.

Austin, Texas, led the latest traffic figures at 68.8%, reaching its own post-pandemic high. Dallas was at 60.8%, with Houston and Chicago tied at 60.4%. Next came New York at 55.8% and Washington, D.C., at 52.5%

The latest numbers showed eight of the 10 tracked regions reaching at least 50.1%, the exceptions being San Francisco at 44.5% and Philadelphia at 43.6%.