Wholesale Inventories Rise More Than Expected
Washington, DC, January 11, 2008—The Labor Department said wholesale inventories in November increased by a little more than economists had been expecting.
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.
Chain Store Sales Grew Slightly in December
New York, NY, January 10, 2008--U.S. chain store sales for December grew 0.9 percent year on year, according to International Council of Shopping Centers index. This was in line with ICSC's expectation of 1 percent growth for the month.
Jobless Claims Fall Slightly in Week
Washington, DC, January 10, 2008—Initial jobless claims fell by 15,000 last week, according to the Labor Department.
Sika AG Buys Valspar Polymer Flooring Business
Baar, Switzerland, January 11, 2008--Sika AG has acquired the commercial and industrial polymer flooring business of The Valspar Corporation. The price was not disclosed.
Mortgage Rates Hit Two-Year Low
Washington, DC, January 11, 2008—Interest rates on 30-year fixed rate mortgages fell to their lowest level since September 2005, according to Freddie Mac.
Consumer Confidence Takes Another Blow
Washington, DC, January 11, 2008—Consumer confidence hit an all-time low in early January, according to the RBC Cash Index.
Solutia Plans Bankruptcy Exit Financing Package
St. Louis, MO, January 9, 2008-- Solutia Inc. is planning to offer $400 million in senior unsecured notes as part of a $2 billion exit financing package when it emerges from Chapter 11 bankruptcy.
Mortgage Applications Up on Refinancings
Washington, DC, January 8, 2008—Propelled by heavy refinancing activity, mortgage applications rose 32.2 over the previous week, according to the weekly survey by the Mortgage Bankers Association.
Omnova Solutions Raises Latex Prices
Fairlawn, OH, January 10, 2008-- Omnova Solutions has announced a price increase of 5 cents per dry pound on styrene butadiene latex for carpet and related markets, effective Feb. 4.
Dow Increasing Latex Prices in U.S., Canada
Midland, MI, January 8, 2008--Effective Feb. 4, the Dow Carpet Latex business is increasing the prices.