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Household Durables

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  • Japan's households start opening their wallets Thursday, 25 Jun 2015 | 8:59 PM ET

    Japan's households opened their wallets a bit wider than expected in May, with household expenditures jumping for the first time in more than a year.

  • 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...

  • 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...

  • China's incredible shrinking factory Thursday, 16 Apr 2015 | 5:00 PM ET

    HUIZHOU, China, April 17- Eight years ago, Pascal Lighting employed about 2,000 workers on a leafy campus in southern China. Cankun, an appliances factory in southern China featured in the documentary Manufactured Landscapes, had more than 22,000 manufacturing employees in 2005, according to its annual report. Some Hong Kong- owned factories in southern China...

  • Finding that her top toy choice, Shopkins- tiny grocery store characters made by Australia's privately-held Moose Enterprise- was sold out, Catie went directly to the Barbie row and picked out one of Mattel Inc.' s iconic dolls. Though Mattel, Hasbro and Lego control about 40 percent of the U.S. toy market, there's a growing niche for smaller companies such as Alex...

  • STOCKHOLM, April 8- White goods maker Electrolux said on Wednesday its North American appliances business would make an unexpected loss in the first quarter, partly due to costs related to adjustments to product lines in the region. Electrolux, a rival of Whirlpool Inc, makes nearly a third of its sales in North America and has been benefiting from firm demand in...

  • Race to the bottom: Cotton vs polyester prices Tuesday, 7 Apr 2015 | 6:15 AM ET

    By Henning Gloystein SINGAPORE, April 7- Bulging cotton inventories in China and slumping oil markets have triggered a race to the bottom between cotton and polyester prices. Futures prices in China, both the world's largest producer and importer, are also down a third. That significantly reduced U.S. exports to China, and added supply to a global cotton market...

  • *Vestel says facing surge in mobile phone imports to Turkey. GENEVA, March 23- The European Union and Taiwan have said a bid by Turkish appliance manufacturer Vestel to get Ankara to impose emergency import tariffs on mobile phones would probably be illegal if it is approved, according to documents published on Monday. Turkey notified the World Trade...