Inflation rises as economy grows sparks price pass-through
Inflation is broadening as major manufacturers like Procter & Gamble Hershey Foods and Whirlpool pass higher raw material costs to shoppers. Fed minutes hint at higher rates to curb price gains while CPI shows a 3.5 percent yearly rise and wholesale costs up 5 percent. Analysts warn the inflation trend may persist as supply chains tighten and inventories fall.
MENTIONED IN THIS ARTICLE
Harrisburg, Pa
Procter & Gamble Co
Hershey Foods Corp
Whirlpool Corp
Federal Reserve
Fed
Labor Department
Nigel Gault
U.S. Economic Service of
Global Insight
Lexington
Mass
Procter & Gamble
Hershey
Whirlpool Raises Prices On Large Scale To Offset Costs
In the 12 months to November 2004 wholesale prices rose 5 percent while consumer prices gained 3.5 percent. Whirlpool announced a 5 to 10 percent price hike to cover steel, transport and resins costs, affecting appliances under the Kenmore label at Sears. Harrisburg shoppers note broad price pressures but stay unconcerned as increases appear gradual.
MENTIONED IN THIS ARTICLE
Whirlpool
Kenmore
Sears, Roebuck and Co
Harrisburg
Berkshire Hathaway Subpoena on General Re by New York AG
Berkshire Hathaway received a subpoena from New York State Attorney General seeking information on General Re Corp and affiliated entities. The request mirrors SEC inquiries into loss mitigation insurance products and awaits cooperation from Berkshire and General Re. It also notes a parallel Virginia federal probe related to a former client.
MENTIONED IN THIS ARTICLE
New York AG
Berkshire
General Re
Omaha, Neb
Warren Buffett
Berkshire Hathaway Inc
New York State
SEC
Berkshire Hathaway
New York
Eliot Spitzer
Marc Violette
U.S. Attorney
Eastern District of Virginia
Richmond
China’s CNOOC Eyes Unocal Bid After Talks Reportedly Begin
China National Offshore Oil Corp. considered bidding for all or part of U S rival Unocal Corp. with reports saying a takeover could top 13 billion dollars. Unocal officials declined comment as shares rose and talks remained in early stages amid China’s surge in overseas energy interest.
MENTIONED IN THIS ARTICLE
New York
China
U.S
Unocal Corp
The
Financial Times
China National Offshore Oil Corp
Unocal
el Segundo
Calif
Ry Lane
New York Stock Exchange
CNOOC
Wall Street Journal
Recall of Adams Trail-A-Bike and Slipstream Attachments
A British Columbia company recalls 80 000 bicycle hitch attachments after reports of hardware loosening and a minor injury. The Adams Trail-A-Bike and Adams Slipstream models Starter Folder Shifter Shocker Ultimate Tandem Deluxe Folder Me 2 Original are included. Stop using the product and contact a dealer for a free inspection and repair kit. Call 1 800 663 8916 for details.
MENTIONED IN THIS ARTICLE
Washington
British Columbia
Canada
Consumer Product Safety Commission
Norco Products Ltd
CPSC
Also Mentioned on This Page
A. Sears
Larry Hopkins
David Jaycox
Sears
Camp Hill
Jay LaRue
Bureau of Labor Statistics
Yale Sales
Northtowne Cycling & &Fitness
Blairs Ferry Rd
Cedar Rapids
Admills
Chinese Oil Company
Southeast Asia
Lenovo Group
International Business Machines Corp
Irwin
Pyrite
BIA
Ayr Eae
7Th Ave
Marion
Iowa
Pentord Corp
Columbus McKinnon
PepsiCo
Feds
Qwest Commun
RF Micro Devices
Ds Inc
Raicorp Holding
Astenal Co
Featherlite Inc
Fndi New Fiserv
Rockwell Collins
Genencor Inti Inc
Saks Inc
Gen Mills
Sealed Air
Gillette Co
Skyworks Solution
HM Corp
Tanger Factory
Terex Co
Heartland Exp
Toyota Met
Heinz
ING Glob RE Inc
Old Fire Cas Intl Paper
US Bancorp
Keane Inc
US Cellular
Kohis Corp
Unova Inc
ORECK
CS Raa
Oreck Center
Scherer Aai
Oreas
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