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.» Read More
PORCIA, Italy, March 9- The boxy white and grey factory of this rainy northern town makes fewer than half the washing machines it did when Italy joined the euro. Home appliance maker Electrolux, which owns the factory, wants to cut the salaries of some 5,000 workers at the plant and three other factories across Italy by up to 15 percent over the next three years.
BEIJING, March 4- China's decision last month to sell a stake in a subsidiary of Sinopec Corp signals more privatisation of its bloated state-owned sector will take place soon, with plans likely to be discussed at this week's parliament session, officials and experts said.
TOKYO, Feb 26- Goldman Sachs Group Inc is considering putting money into a major Japanese airport, the latest foreign investor to eye infrastructure projects as Prime Minister Shinzo Abe seeks to open up the market.
*Sears, Whirlpool were sued over moldy washers. By refusing to hear the appeals in three lawsuits, the court allowed claims against Whirlpool Corp, Sears Holdings Corp and a unit of Germany's BSH Bosch und Siemens Hausgeraete GmbH to move forward as class actions in lower courts.
By declining to hear the cases, the court allowed claims against Sears Roebuck and Co, Whirlpool Corp and BSH Home Appliance Corp to move forward in lower courts.
NEW YORK, Feb 11- Procter& Gamble Co, the world's largest household products maker, cut its sales and earnings outlook for the year on Tuesday to reflect unfavorable foreign exchange rates in Venezuela and the devaluation of currencies in various developing markets.
CHICAGO/ LONDON, Jan 31- International companies are taking steps to mitigate the effects of the turmoil in emerging markets, including hedging foreign currency exposure more aggressively, reducing some investment plans, cutting costs, and raising prices frequently.
*Electrolux falls after posting lower earnings. Shares in Electrolux slid 6.8 percent lower after the Swedish home appliances maker posted a bigger-than-expected drop in quarterly earnings.
*Electrolux falls after posting lower profits. Shares in Electrolux fell 4.5 percent after the Swedish home appliances maker posted a bigger-than-expected drop in quarterly earnings. Electrolux's earnings were hit by a slump in Brazil, whose economy has had to deal with a fall in the country's currency.
NEW YORK, Jan 30- The arctic cold sweeping across the United States has caused rare winter power interruptions for U.S. spinning mills in North and South Carolina, including Frontier Spinning Mills, the second-largest yarn producer in the United States.
Jan 30- Whirlpool Corp posted a higher profit on Thursday, citing especially strong sales gains in North and South America. The company, the world's largest maker of home appliances, reported a fourth-quarter net profit of $181 million, or $2.26 a share, up from $122 million, or $1.52 a share, a year earlier.
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.
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Swedish home appliances maker Electrolux said booming emerging markets and an improvement in North America would help offset poor sales and price pressure in Europe in 2013.
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Jim Lucas, Janney Montgomery Scott, discusses homeowners' need to clean up and repair their homes following this year's extraordinarily harsh winter, and he says that will benefit a number of companies.