Economy Grew Less Than Thought In First Quarter
Washington, DC, June 26--The economy grew more slowly than previously estimated during the first three months of the year as business spending slowed and inventories dwindled.
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1,500 Laid Off At May's
St Louis, MO, June 26--May Department Stores Co. said Wednesday it laid off about 1,500 workers in sales management and support positions. That's about 1.3 percent of its overall work force.
Record Pace For New Home Sales
Washington, DC, June 25--Sales of new U.S. homes hit a record pace in May, the government said on Wednesday, buoyed by continued low lending rates and the end of the war in Iraq.
Shaw Wins EPA's Presidential Green Chemistry A
Dalton, GA, June 24--Shaw Industries, Inc. was honored Monday with the Environmental Protection Agency's Presidential Green Chemistry Challenge Award at a ceremony held at the National Academy of Sciences in Washington.
Home Depot Alters Urban Store Format
Atlanta, GA, June 23--One look at the new Home Depot in Lincoln Park in Chicago and you can see right away it's different, according to the Atlanta Journal-Constitution.
UK Firm Close To Buying Pillowtex
Kannapolis, NC, June 20--Pillowtex Corp. a maker of sheets and towels which emerged from bankruptcy protection 13 months ago, is close to being bought by UK-based Homestead Fabrics Ltd. in a $300 million deal, a source familiar with the situation said on
Economists Expect Small Rate Cut
Washington, DC, June 19--A small cut in interest rates from the Federal Reserve next week should be the last with the U.S. economy soon pulling out of its doldrums, a top bankers' group forecast on Wednesday
Housing Starts Rise
Washington, DC, June 18--Builders ramped up the pace at which they started work on new homes and apartments in May to a seasonally adjusted annual rate of 1.73 million units
Consumer Price Index Flat
Washington, DC, June 17--Consumer prices were flat in May as falling costs for energy products and clothing offset rising prices for medical care and lodging.
Formica's Restructuring Plan Progressing
WARREN, NJ, June 13--Formica Corp. announced that it has taken an important step necessary to implement the restructuring of its balance sheet and emerge from Chapter 11.