Solutia Completes Repricing of Debtor-In-Possessio
St. Louis, MO, June 2--Solutia Inc. today announced it has reached agreement with its lenders to amend its debtor-in-possession (DIP) financing, pending approval by the U.S. Bankruptcy Court.
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Pending Home Sales Index Hits Record
Washington, DC, June 2--The Pending Home Sales Index, a leading indicator for the housing market, has risen to the highest level on record, according to the National Association of Realtors.
Factory Orders Up in April
Washington, DC, June 2--Demand for new factory goods increased 0.9% in April, the fastest gain in five months, the Commerce Department reported Thursday.
ISM: Manufacturing Sector Losing Momentum in May
Tempe, AZ, June 2--Economc activity in the manufacturing sector grew in May for the 24th consecutive month, while the overall economy grew for the 43rd consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Bus
Retailers Report May Results
New York, June 2—-Some of the nation’s top retailers reported results for May. Wal-Mart confirmed that May sales rose 2.5 percent at its U.S. stores open at least a year, with demand for groceries making up for sluggish sales of summer merchandise.
1Q Productivity Revised Up to 2.9%
Washington, DC, June 2--Productivity in the first quarter was revised up to reflect a 2.9 percent annual growth rate, according to the Labor Department.
Electric Aquagenics Launches Antimicrobial Cleanin
Lindon, UT, June 2--Electric Aquagenics Unlimited and its joint venture partner, American MoldGuard, have launched Zero Plus, Inc., a Safe Living Initiative incorporating EAU's Empowered Water as a new cleaning technology for carpet and living surface
Australia’s Boral Makes Hardwood Acquisitions
Sydney, Australia, June 1--Boral today announced that it has invested around $21 million to acquire the Davis & Herbert (D&H) timber operation and the hardwood business of Fennings Timber.
Hovnanian 2Q Earnings Up 50%
Red Bank, NJ, June 1--Luxury home builder Hovnanian Enterprises reported earnings in the second fiscal quarter that rose about 50 percent, driven by higher home prices and greater market penetration.
Sherwin-Williams President Resigns
Cleveland, OH, June 1--Sherwin-Williams's president and chief operating officer, Joseph M. Scaminace, resigned Tuesday after 22 years with the nation's largest paint maker to take the top post at OM Group Inc., a specialty chemical manufacturer.