China Financial Daily

February 18, 2009

Room & Board layoffs, Ashley Furniture layoffs

Filed under: Financial News — Tags: , — Nancy @ 2:24 am -0800

Furniture industry sweeps layoff storm
Room & Board Company laid off 116 employees, Carol Schuler company spokesman said the company-wide layoffs only aimed at the internal range, but still eight retail stores and seven delivery centers had been influenced.

Ashley Furniture claimed to lay off 90 employees in the Wisconsin region, which accounted for 3% of its employees. CEO Todd Wanek said, the main reason for this layoff was that the depressed real estate industry, which caused the corresponding decline in the demand for domestic products.

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Dumex melamine inspection result and kidney stones

Filed under: Financial News — Tags: , — Nancy @ 1:46 am -0800

AQSIQ notification on February 17: Dumex milk powder does not contain melamine
In the recent consumer complaints involving Dumex milk powder product quality problem, the AQSIQ on the 17th released the media about the investigation.

Recently, the quality inspection department conducted a supervision and inspection on Dumex Infant Foods Co., Ltd., and asked the company to make self-inspection and submit the report. Through the inspection, Dumex milk powder does not contain melamine.

Experts: In addition to melamine, the other material things in the milk powder can also cause kidney stones
At present, infant formula has been spread the quality problems, the children have been identified with kidney stones, the parents of children said they had eaten Dumex milk powder, if there are no melamine threat in milk powder, there may be two reasons:

Expert, He Jiguo said: firstly, Dumex may really be none of the business, the children was caused by other things. Secondly, the kidney stones were caused by Dumex, but the other material things in the milk powder can also cause the kidney stones

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February 17, 2009

European Commission Action

Filed under: Financial News — Tags: — Nancy @ 11:42 am -0800

The European Commission may take action to control the budget deficit of the members
Xinhua in Brussels on February 16th, the member of European Commission responsible for economic and monetary affairs Joaquin Almunia warned that on 16th, the European Commission may soon take action for member states who let the deficit increase. In accordance with the EU’s “stability and growth pact” requirement, except in special circumstances, the fiscal deficit should be controled by the EU member states the gross domestic product (GDP) ratio below 3%.

Plenary session of the European Parliament urged the EU to say no to protectionism
BRUSSELS, on February 16th (Xinhua Shang Jun) on 16th the European Parliament held a plenary session in Brussels, in which delegates urged the EU to adhere to the principles of economic liberalization, say no to the rise of an increasingly protectionist.On the same day, the European Parliament on behalf of Member countries were invited to Parliament and held a joint meeting to discuss how to save the EU economy into a serious recession.

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