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Consumer Durables and Apparel

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  • Business events scheduled for the coming month Friday, 26 Jun 2015 | 6:27 AM ET

    WASHINGTON— Institute for Supply Management releases its manufacturing index for June, 10 a.m.; Commerce Department releases construction spending for May, 10 a.m.. WASHINGTON— Labor Department releases weekly jobless claims, 8:30 a.m.; Labor Department releases employment data for June, 8:30 a.m.; Freddie Mac, the mortgage company, releases weekly mortgage...

  • HONG KONG, June 24- China's GOME Electrical Appliances Holding Ltd plans to buy Beijing Dazhong Home Appliances Retail Co Ltd for 3.83 billion yuan, formalizing its control of a company it has been managing for around eight years. GOME said it would buy the whole of Beijing Dazhong from Beijing Zhansheng Investment Co Ltd in a deal set off against a 3.6 billion...

  • June 15- Lumber Liquidators Holdings Inc terminated the employment of its chief merchandising officer, making him the latest top-level executive to leave the wood floorings retailer amid allegations it sourced laminates from China that contained excessive levels of a known carcinogen. A report by CBS's "60 Minutes" in March alleged that the company's...

  • *Dollar drops on optimism of Greece deal with creditors. *Intel drops after rating cut; biggest drag on indexes. June 2- U.S. stocks erased earlier losses to turned positive on Tuesday afternoon on optimism that Greece would strike a deal with its creditors, while weak U.S. data and bearish comments from a Federal Reserve board member allayed fears of a near-term...

  • *Juno jumps on report of AstraZeneca interest. June 2- U.S. stocks were lower in late morning trading, paring some of their losses earlier in the session, as weak factory orders data and bearish comments from a Federal Reserve board member allayed fears of a rate hike coming sooner rather than later. "Interest rates are not going to matter if they're rising because of...

  • Greece must repay four loans totaling 1.6 billion euros to the International Monetary Fund this month, starting with a 300 million euro payment on June 5. The leaders of Germany, France and Greece's international creditors agreed late on Monday to work with "real intensity" as they try to reach a deal that would prevent a default. "Stocks have been trying to break...

  • May 21- Lumber Liquidators Holdings Inc said Chief Executive Robert Lynch had resigned unexpectedly, even as the company continues to face fire over reports that it sourced flooring laminates with excessive levels of a known carcinogen. Lynch took over as Lumber Liquidators' CEO in January 2012. Lumber Liquidators named founder Thomas Sullivan as acting CEO...

  • Flooring retailer Lumber Liquidators' CEO resigns Thursday, 21 May 2015 | 8:38 AM ET

    May 21- Hardwood flooring retailer Lumber Liquidators Holdings Inc said Chief Executive Robert Lynch had resigned unexpectedly, sending its shares down 17 percent in premarket trading on Thursday. The company named founder Thomas Sullivan as acting CEO. Lumber Liquidators is facing U.S. government investigations after CBS's "60 Minutes" show alleged that...

  • UPDATE 1-Hangzhou shows the way to China's new economy Thursday, 21 May 2015 | 2:17 AM ET

    *Zhejiang capital Hangzhou a high-tech and software sector. *Hangzhou is home to Alibaba, taxi app Kuaidi Dache. HANGZHOU, China, May 21- Signs that China's reforms may be paying off have sprung up in the eastern coastal city of Hangzhou, where a booming high-tech and software sector has fired up the local economy in defiance of a nationwide slowdown.

  • Hangzhou shows the way to China's new economy Wednesday, 20 May 2015 | 5:00 PM ET

    *Zhejiang capital Hangzhou a high-tech and software sector. *Hangzhou is home to Alibaba, taxi app Kuaidi Dache. HANGZHOU, China, May 21- Signs that China's reforms may be paying off have sprung up in the eastern coastal city of Hangzhou, where a booming high-tech and software sector has fired up the local economy in defiance of a nationwide slowdown.

  • SAO PAULO, May 19- Whirlpool Corp and Anheuser-Busch InBev on Tuesday started selling a countertop appliance that makes soda, juice and coffee with single-serve capsules, marking the start of a joint venture worth more than $70 million. Last year, the Coca-Cola Co invested an initial $1.25 billion in Keurig Green Mountain Inc as part of a plan to sell its soft...

  • M&A activity in Israel shifts beyond high tech Thursday, 14 May 2015 | 7:28 AM ET

    TEL AVIV, May 14- When one of China's biggest food companies was looking to boost its dairy output it turned to Israel's tiny market, paying about $1.1 billion for control of the country's largest food maker. Even though the company Tnuva is focused on the Israeli market, China's Bright Food was attracted to its efficiency in milk production and cutting-edge...

  • In recent years, Haier has bought New Zealand's Fisher& Paykel Appliances and Japan's Sanyo Electronics to compete against worldwide home appliances leader Whirlpool Corp and other global brands, including Electrolux AB. He is now driving production and sales at one of China's most successful consumer brands closer to customers, flattening the management...

  • May 7- Hardwood retailer Lumber Liquidators Holdings Inc said it would suspend sales of all laminate flooring sourced from China, following allegations that the products contained excessive levels of cancer-causing formaldehyde. Lumber Liquidators' shares rose as much as 7.2 percent in early trading on Thursday. "Despite the initial positive air quality...

  • *Beijing urging banks to support small businesses. BEIJING, April 30- Private entrepreneurs in China are voicing unprecedented criticism of government, encouraged by policies and rhetoric from Beijing emphasising support for the most productive sectors of the economy. In the past two weeks, Premier Li Keqiang has exhorted Chinese banks to cut their fees and...

  • CHICAGO, April 28- Whirlpool Corp posted a higher quarterly net income on Tuesday but lowered its profit forecast and sales outlook for 2015, predicting a significant drop in Latin American sales owing largely to Brazil's stagnating economy. In a conference call with analysts, Whirlpool said it has introduced price increases in a number of markets including...

  • Electrolux Q1 profit falls less than expected Friday, 24 Apr 2015 | 3:32 AM ET

    Home appliances maker Electrolux reported a smaller-than-expected fall in first-quarter earnings on Friday.

  • UPDATE 2-Osram paves way for possible lamps spin-off Tuesday, 21 Apr 2015 | 12:00 PM ET

    *Osram to separate 2 bln-euro lamps business. FRANKFURT, April 21- Germany's Osram plans to transfer its 2 billion-euro general lamps business into an independent legal structure, it said on Tuesday, paving the way for a possible spin-off or sale. Osram's new chief executive Olaf Berlien has been reviewing the company's strategy, and Chief Financial Officer...

  • April 21- Under Armor Inc reported a 13.4 percent fall in first-quarter profit as costs rose following a pair of acquisitions and the sports apparel maker issued an updated full-year revenue forecast that fell short of market expectations. The company, which recently dislodged Adidas AG as the No. 2 sports footwear and clothing brand by sales in the United...

  • Under Armour profit falls 13.4 pct Tuesday, 21 Apr 2015 | 7:15 AM ET

    April 21- Sports apparel maker Under Armour Inc reported a 13.4 percent fall in quarterly profit, hurt by higher costs related to its recent acquisitions. Under Armour in February acquired two fitness tracking services, Endomondo and MapMyFitness, for about $560 million. Under Armour's revenue rose about 25.5 percent to $804.9 million.