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Household Appliances

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  • *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.

  • This doubles our size in the U.S., says Keith McLoughlin, Electrolux CEO, discussing the acquisition of General Electric's appliance business amid growing global competition in the industry.

  • 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.

  • 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.

  • GE in talks to sell appliances business: Report Wednesday, 16 Jul 2014 | 2:40 PM ET

    General Electric is in talks with potential suitors about selling its appliances business for up to $2.5 billion, Bloomberg reported.

  • 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.

  • "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.

  • Google's Nest recalls 440,000 fire alarms in US Wednesday, 21 May 2014 | 5:20 PM ET
    Nest Thermostat

    Nest is recalling 440,000 smoke detectors, according to a notice that provides public knowledge of how many of the smart home appliances have shipped.

  • 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.

  • Currency headwinds hurt: Electrolux CEO     Friday, 31 Jan 2014 | 5:10 AM ET

    Keith McLoughlin, Electrolux CEO, tells CNBC he is pleased with the group's "broad growth" and "rich pipeline," and discusses currency headwinds impacting the group.

  • Comeback companies: Whirlpool's recent rise     Wednesday, 21 Aug 2013 | 6:43 AM ET

    Whirlpool took a hit when the housing bubble burst but the stock is showing signs of recovery as consumers begin spending again to furnish new homes and upgrade older appliances, reports CNBC's Jackie DeAngelis.

  • Electrolux's CEO on retail growth strategy     Friday, 19 Jul 2013 | 8:24 AM ET

    Keith McLoughlin, Electrolux president & CEO, discusses his company's quarterly results, housing and the strength of the consumer.

  • Home Warranties Don't Always Provide Peace of Mind Monday, 17 Jun 2013 | 8:09 AM ET

    Home warranties are supposed to provide peace of mind. But in many cases, people who try to use them when something breaks experience disappointment and frustration.

  • Court Blocks Faulty Washers Ruling Against Sears Monday, 3 Jun 2013 | 1:17 PM ET

    The Supreme Court on Monday strikes down an appeals court ruling that favored consumers who bought Sears front-loading washing machines.