Fed Hikes Rates
Washington, DC, December 14--The Federal Reserve raised its benchmark short-term interest rate Tuesday to 2.25% from 2%, for the fifth quarter-point increase in as many meetings since June.
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.
Forbo Stock Issue Completed
Eglisau/Zurich, Switzerland, December 15- Forbo Holding AG said it has successfully completed its capital increase, raising gross proceeds of 200 mln sfr ($175.3 million) for the further development of its adhesives, belting and flooring businesses.
Armstrong Expands its Residential Vinyl with New D
Lancaster, PA, December 14--Armstrong Floor Products has expanded its offering of resilient residential sheet flooring for home builders and property managers interested in increased design options for their residential customers.
Athens Invista Plant Lays Off 12% of Workers
Athens, GA, December 15--Managers with the Athens Invista facility on Voyles Road notified approximately 35 employees with the textile manufacturing facility that their jobs were eliminated, effective Monday, according to the Athens Banner-Herald.
Chain Store Sales Up Last Week
New York, NY, December 14--Chain store retail sales rose 1.2 percent in the week ended December 11, compared with a 1.7 percent decline in the previous week, according to the International Council of Shopping Centers and UBS joint report.
Summitville Tiles Emerges from Bankruptcy
Summitville, OH, December 14-- The struggling tile manufacturer Summitville Tiles announced Friday it has emerged from bankruptcy protection, according to the Lisbon Morning Journal.
Mohawk Names Avalon Carpet Tile and Flooring '
Cherry Hill, NJ, December 14–-Mohawk honored Cherry Hill-headquartered Avalon Carpet Tile and Flooring with its annual Mohawk Floorscapes Dealer of the Year Award at the Mohawk national annual convention in San Francisco this month.
Invista Investigates Canadian Plant Explosion
Ogdenburg, NY, December 14--Invista continues to investigate the explosion that occurred at 11 p.m. Thursday at its former DuPont-owned plant, Maitland, Ontario.
Business Inventories Up in October
Washington, DC, December 14--Business inventories in the United States increased by 0.2 percent in October, according to a Commerce Department reported released Monday.
Survey: Hiring Set to Rise in the New Year
Milwaukee, WI, December 14--U.S. employers plan to ring in the new year with strong hiring activity, according to the seasonally adjusted results of the latest Manpower Employment Outlook Survey, conducted quarterly by Manpower Inc.