Initial Jobless Claims Fall to Three-Month Low
Washington, DC, July 10, 2008--Initial jobless claims for U.S. unemployment benefits fell by 58,000 in the latest week, the Labor Department reported Thursday.
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S&P Maintains Ratings, Outlook on Mohawk
New York, NY, July 10, 2008--Standard & Poor's Rating Services said its ratings and outlook on Mohawk Industries Inc. would remain unchanged.
Freddie, Fannie May Need Federal Bailout
Washington, DC, July 11, 2008--The New York Times reported Friday the government was considering taking over the operations of one or both Fannie Mae and Freddie Mac, adding to fears that have mounted this week.
Dow Acquiring Chemical Maker Rohm and Haas
Midland, MI, July 10, 2008--Dow Chemical Co. will buy chemicals maker Rohm and Haas Co. for more than $15 billion.
June Foreclosure Filings Fall Slightly From May
Irvine, CA, July 10, 2008--Foreclosure filings last month grew by more than 50 percent compared with June 2007, according RealtyTrac Inc.
Analyst Downgrades H.B. Fuller
New York, NY, July 10, 2008--An analyst downgraded the shares of H.B. Fuller, a maker of sealants, paints and other specialty chemicals, citing a weak economy.
Mohawk Cuts Second Quarter Earnings Estimates
Calhoun, GA, July 9, 2008--Mohawk Industries cut its earnings outlook for the second quarter to $1.23 to $1.26 per share, down from its previous estimate of $1.36 to $1.45.
Mortgage Applications Up as Interest Rates Rise
Washington, DC, July 9, 2008--Applications for mortgages rose 7.5 percent last week compared with the week before as mortgage interest rates rose, according to the weekly survey by the Mortgage Bankers Association.
New Fed Rules To Crack Down on Shady Lending
Washington, DC, July 9, 2008--In its most significant response to the current housing crisis, the Federal Reserve will issue new rules next week aimed at protecting future homebuyers from dubious lending practices.
Universal Fibers Again Sponsoring CARE
Bristol, VA, July 9, 2008--Universal Fibers has renewed its corporate sponsorship of Carpet America Recovery Effort (CARE) for a second straight year.