Construction Spending Off 0.3% in June
Washington, August 2--The Commerce Department said total construction spending in June fell 0.3%, the first decline since January, to a seasonally adjusted annual rate of $985.16 billion.
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.
GDP Growth Slows to 3%
Washington, DC, July 30--Economic growth decelerated to a slower-than-expected pace in the second quarter as consumer spending fell to its weakest rate since the recession three years ago.
Shell & BASF Set to Sell $6B Plastics Business
London, England, July 30--Shell and BASF, the German chemical company, are preparing to sell Basell, a $6 billion (£3.3 billion) global plastics business, marking the first strategic move for the Anglo-Dutch oil company since becoming mired in its oil res
Unifi to Close European Manufacturing Operations
Greensboro, NC, July 30--Unifi, Inc. announced that, as of November 2004, its European operations will focus solely on the sales, distribution and service of textured yarn.
Target to Sell Mervyn's for $1.65B
Minneapolis, July 30—Target Corp. said it will sell its struggling Mervyn's discount department-store chain to a group of private-investment firms for about $1.65 billion.
N.Y. Wa$teMatch & CarpetCycle Partner on Carpet-Re
New York, July 30--N.Y. Wa$teMatch and CarpetCycle are working together to eliminate thousands of pounds of used carpet from going directly to landfill.
Kronotex Breaks Ground for Laminate Plant
Barnwell, SC, July 30--With continued success and growth in the U.S. market, Kronotex USA is responding to product demand by breaking ground on its first U.S.-based manufacturing facility.
Wife of Warren Buffett Dies After a Stroke
Cody, WY, July 30--Susan T. Buffett, 72 years old, wife of Warren E. Buffett and a director of his investment empire, Berkshire Hathaway Inc., died from a stroke yesterday in Cody, Wyo., where she and Mr. Buffett were visiting friends.
Unifi Narrows Losses in 2Q
Greensboro, NC, July 29-- Unifi, Inc. released operating results for its fourth quarter and fiscal year ending June 27, 2004.
Growth in Hiring Costs Slows
Washington, July 30--Employers saw the growth rate in the cost of hiring and retaining workers slow in the second quarter, which could help contain inflation worries as oil-price pressures mount.