Sears Canada Spurns Parent's Bid
Toronto, Ontario, February 23, 2006--Sears Canada Inc., urged its shareholders to reject the C$835.4 million ($726.4 million) buyout offer from U.S. parent Sears Holdings Corp., as inadequate.
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Illegal Logging Still Going Strong
Jakarta, Indonesia, February 23, 2006--When the world's biggest timber smuggling operation from Papua to China was exposed last year, it marked a turning point in the fight against illegal logging in the country.
Mortgage Purchase Applications Up, Refinances Down
Washington, DC, February 23, 2006--The Mortgage Bankers Association (MBA) released its Weekly Mortgage Applications Survey for the week ending February 17. The Market Composite Index--a measure of mortgage loan application volume--was 578.5, an increase
Jobless Claims Drop 20,000
Washington, DC, February 23, 2006--First-time seasonally adjusted claims for state unemployment benefits dropped by 20,000 to 278,000 last week, reversing the prior week's gains, the Labor Department reported Thursday.
Pennsylvania Governor Hastens Redevelopment of Fo
Harrisburg, PA, February 22, 2006--Pennsylvania governor Edward G. Rendell today announced plans to help speed up the redevelopment of 47 acres at the former Armstrong World Industries manufacturing site in Lancaster.
Chain Store Sales Up Last Week
New York, NY, February 22, 2006--Chain store sales rose slightly in the latest week after dipping in the prior week due to pent-up demand, according to a report on Wednesday.
Hovnanian Expects to Meet 1Q Guidance
Red Bank, NJ, February 22, 2006--Homebuilder Hovnanian Enterprises Inc., said its first-quarter net profit would meet or slightly exceed its previous forecasts of $1.10 per share to $1.25 per share.
Omission in Congoleum Case Costs Advisory Firm $13
Trenton, NJ, February 22, 2006--U.S. Bankruptcy Court Judge Kathryn Ferguson has stripped a Washington, D.C., insurance recovery firm of $13 million in legal fees because it failed to disclose conflicts of interest while conducting bankruptcy work for Mer
ASID Foundation Fundraiser to Take Place at Interi
Washington, DC, February 22, 2006--"Jubilation: The ASID Foundation Fundraiser," will take place during INTERIORS 06: The ASID Conference on Design, in Nashville, Tenn., on Friday, March 17, at the Country Music Hall of Fame and Museum.
Consumer Prices Rose 0.7%
Washington, DC, February 22, 2006--Consumer prices increased a larger-than-expected 0.7% in January, led by higher energy, food and housing costs, according to the Labor Department.