Retail Sales Up 0.1% in November
Washington, DC, December 13--Retail sales in November increased 0.1%, according to the Commerce Department. Excluding automobiles, sales for the month rose solid 0.5%.
Today's Flooring News
Keep up to date with the most recent news in the flooring industry. Today's News...As it happens! We update this news several times a day so you can stay connected.
Lanxess Agrees To Credit Line
Leverkusen, Germany, December 13--Lanxess AG, a chemical company that is part of Bayer AG, said it has arranged a credit line of EUR 1.5 billion ($2B)with an international bank consortium led by Bank of America, Citibank, Commerzbank and Deutsche Bank.
Trade Panel Approves China Furniture Duties
Washington, DC, December 13--A U.S. trade panel on Friday approved anti-dumping duties of up to 198 percent on $1.2 billion worth of wooden bedroom furniture from China.
Sumitomo Enters PVC Recycling Business
Tokyo, Japan, December 10--Sumitomo Corporation has announced its entry into the recycling business with the allocation of new shares to a third-party from Refineverse Inc., a polyvinyl chloride interior waste material recycling venture business.
Forbo Board Member to Step Down, May Increase Inve
Eglisau/Zurich, Switzerland, December 10--The Board of Directors of Forbo announced that Michael Pieper has stepped down from his directorship at Forbo Holding effective immediately.
Consumer Sentiment Up to 95.7 in November
Ann Arbor, MI, December 10-- The University of Michigan's preliminary sentiment index rose to 95.7 from 92.8 in November. Economists were expecting the index to rise to 93.5.
Forbo-Nairn Says Harmful Micro-Organisms Can’t Bre
Kirkcaldy, Scotland, December 10--Forbo-Nairn said research indicated that MRSA and other harmful micro-organisms cannot live or breed on its Marmoleum.
S&P Ups Lowe's Ratings
New York, NY, December 10--Standard & Poor's Ratings Services today raised its long-term ratings on Lowe's Cos. Inc. (LOW) to 'A+' from 'A'. The outlook is stable. The 'A-1' short-term ratings on the company were affirmed.
Producer Prices Rise 0.5% in November
Washington, DC, December 10—The producer price index rose 0.5 percent in November, after a 1.7% increase the October, according to a Labor Department report.
Homebuilder Toll Brother Earnings Nearly Double
Huntingdon Valley, PA, December 9--Luxury homebuilder Toll Brothers said Thursday that fourth-quarter earnings nearly doubled year-over-year, and the company predicts that profit will grow by at least 40 percent in fiscal 2005.