Staff at a homeless charity were stunned when they opened a packet of washing powder donated to them by Customs & Excise – and discovered it was packed with cannabis resin.
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Maytag Postpones Shareholder Meeting
Maytag said Wednesday it has postponed a meeting of shareholders from Aug. 30 to Sept. 9, to permit the company additional time to distribute proxy information.
Airrider tipped to clean up in vacuum market
A GLASGOW inventor and his friends are aiming to hoover up the vacuum-cleaner market and beat Sir James Dyson with a new machine. After 11 years of development in a garden shed, Gorbals-born Mike Rooney and Maryhill’s Matt Neely have created the Airrider – a hovercraft-inspired vacuum cleaner.
Analysts expect antitrust review of Maytag/Whirlpool merger
Skepticism is growing about whether appliance giant Whirlpool Corp. is serious about buying rival Maytag Corp. or is just looking to weaken a competitor by dragging it through a lengthy antitrust process. “There’s something odd about this purchase,” said Steve Sleigh, spokesman for the Internatio…
Shorts make Whirlpool a tough bet
Credit investors may be best served by avoiding Whirlpool for now unless they know something the rest of the market doesn’t, analysts and traders said on Tuesday. Whirlpool’s plan to absorb its smaller U.S. rival Maytag, a weaker credit, is one of several reasons to short the credit quality of th…
Turkey Exports 64.6 Percent of Durable Goods
In the first 6 months of 2005, Turkey exported 64.6 percent of its durable goods output. In January to June 2004, the total durable goods production was 5.52 million and 3.56 million of those goods were exported and 2.40 million of them were sold in the country.
Moody’s says may cut Whirlpool on Maytag purchase
NEW YORK, Aug 16 – Moody’s Investors Service on Tuesday said it may cut Whirlpool’s debt ratings, citing the expectation that Whirlpool will finance part of its Maytag acquisition with debt. Moody’s also revised its outlook on Maytag to “direction uncertain” from “review for possible downgrade
Videocon board approves merger of Electrolux
Electronics goods major Videocon Industries said Tuesday its board of directors has approved the proposal to merge Electrolux Kelvinator Ltd with the company. The merger is subject to necessary approvals of the creditors of both the companies and other necessary approvals from different authoriti…
Chinese Refrigerator Maker Fires Chairman
Chinese refrigerator maker Guangdong Kelon Electrical Holdings Co. said it has fired chairman Gu Chujun, whom securities regulators suspect has overstated the company’s profit since 2002. Kelon’s board voted unanimously to remove Gu at a meeting over the weekend, the company said in a statement o…
Whirlpool Pays $850,000 in Back Wages to Settle Discrimination Claims
The U.S. Department of Labor announced that Whirlpool Corp. has agreed to settle findings of discrimination against about 800 African-American job applicants. The company will pay a total of $850,000 in back wages as part of the settlement. “Federal contractors should be upholding the highest sta…