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Household Durables

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  • AMSTERDAM, Sept 23- Philips said on Tuesday it would break its 120- year-old company in two, creating a stand-alone lighting business and merge consumer and healthcare divisions into a 15- billion euro business.

  • Samsung: LG, stop vandalizing our washing machines! Monday, 15 Sep 2014 | 6:56 AM ET
    A Samsung employee holds a smartphone remotely controlling a WW9000 washing machine at the IFA consumer technology fair in Berlin, September 5.

    Samsung has accused the head of rival LG Electronics' appliances business of damaging Samsung washing machines at retail stores.

  • *Electrolux to issue shares after deal completed. STOCKHOLM, Sept 8- Sweden's Electrolux AB said on Monday it would double U.S. sales by paying $3.3 billion in cash for General Electric Co's appliances business in its biggest ever deal, giving it the scale to go head-to-head with larger rival Whirlpool.

  • NEW YORK/ STOCKHOLM, Sept 4- Sweden's Electrolux AB is near a deal to buy General Electric Co's iconic appliance business for more than $2.5 billion, in a move that would significantly expand its reach in North America, people familiar with the matter said. Representatives for GE and Electrolux declined to comment.

  • Aug 21- Home Depot Inc named retail industry veteran Craig Menear as its chief executive, four months after he was appointed as head of the home improvement chain's U.S. retail business. Menear, 56, joined Home Depot in 1997 as a merchandising manager.

  • NEW YORK, Aug 14- General Electric Co is in talks with Sweden's Electrolux AB and other parties to sell its household appliances unit, people familiar with the matter said on Thursday. Bloomberg News earlier reported that GE's appliances unit had drawn interest from Electrolux and consumer development startup Quirky.

  • *Game Digital re-emerges after old firm nearly went bust. Although overall growth trends still firmly favor online shopping, higher share prices flag investor faith in chains such as UK video-game retailer Game Digital, electrical-appliance group Dixons, and Swiss Mobilezone.

  • July 25- U.S. companies are reporting sluggish financial results in Latin America, showing the risks they face in relying on Brazil and other emerging markets in the region for growth. Several companies reported tepid performance in Brazil, the biggest economy in Latin America, where some economists fear the country is on the verge of a recession.

  • The U.S. appliance maker said its sales in China plummeted 80 percent last quarter as retailers in that country, anticipating its pending merger with Hefei Rongshida Sanyo Electric Co and the new line the merged entity will produce, stopped buying Whirlpool-branded products.

  • July 23- Whirlpool Corp on Wednesday reported a lower quarterly profit as sales fell in every region except North America. The world's largest maker of home appliances posted a second-quarter profit of $179 million, or $2.25 a share, down from $198 million, or $2.44 a share, a year earlier.

  • July 16- General Electric Co is in talks to sell its century-old household appliances business for as much as $2.5 billion, Bloomberg reported, citing people familiar with the matter. The business, which had revenue of more than $8 billion in 2013, may fetch $1.5 billion to $2.5 billion in a sale, Bloomberg quoted the people as saying.

  • MILAN, July 11- Whirlpool, the world's largest maker of home appliances, has agreed to pay 758 million euros to buy a 60 percent stake in smaller Italian rival Indesit to further expand beyond its U.S. home market.

  • July 10- Whirlpool Corp, the world's largest maker of home appliances, said it will buy 66.8 percent of voting stock of Italian white goods maker Indesit Company SpA for about 758 million euros to spur its growth in Europe.

  • MILAN, July 3- Italy's fashion designers have long been plagued by cheap copies of their bags and clothing but there is also a flourishing market for reproductions of high-end furniture for those that covet "Made in Italy" architectural style at low prices. Some have taken legal action, but now a new law introduced this year in Italy may help their cause.

  • June 30- Philips is to merge its lighting components businesses into a separate unit worth up to 2 billion euros which may be listed- a major step in its ongoing strategy to refocus on healthcare and high-end lighting systems.

  • Under Chief Executive Frans van Houten, the Dutch company- which started out 120 years ago as a pioneer in electric lighting- has been shifting away from the consumer electronics sector in a restructuring which has involved more than 5,000 job cuts and the sale of its television business.

  • "We all feel strongly that something should be done and we should get on with this," said William Ruckelshaus, the first EPA chief, who served under EPA founder, President Richard Nixon, and again under Ronald Reagan.

  • SAN FRANCISCO, May 21- Google Inc's Nest Labs is recalling 440,000 smoke detectors, according to a U.S. government notice on Wednesday that provides the first public revelation of how many of the smart home appliances have shipped since sales started in November.

  • April 25- Whirlpool Corp said on Friday that its quarterly operating profit rose as strong sales increases in much of the world, including Europe and North America, offset weakness in Asia. The world's largest maker of home appliances reported a first-quarter net profit of $160 million, or $2.02 per share, down from $252 million, or $3.12 a share, a year earlier.

  • US household net worth reaches all-time high Monday, 9 Dec 2013 | 12:52 PM ET

    U.S. household net worth hit a record high in the third quarter as home prices marched higher and the value of stocks and mutual funds surged.