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Newspaper
Holland Sentinel
Location
Holland, Michigan, United States of America
Date
Oct 10, 2019
Page
8
Market summary notes Dow Jones at 26346.01 up 181.97 points or 0.70 percent and Nasdaq at 7903.74 up 79.96 points. Local shares listed in the stocks of local interest gain along with broad market movement.
Washington faces a tough 13th round of U S China trade negotiations with Xi Jinping and Donald Trump under pressure from weakening economies. The talks aim to resolve technology and trade disputes but prospects look dim amid U S blacklisting of Chinese tech firms and Beijing’s threats of retaliation.
Herman Miller to acquire an additional 34 percent equity in HAY for about 78 million dollars, raising its ownership to a majority stake. HAY, founded in Copenhagen in 2002, designs ancillary furnishings for Europe and Asia with contracts and residential markets. The deal, expected to close December 2, will consolidate HAY’s results and leave a 33 percent minority stake with founders Mette and Rolf Hay. Revenue for HAY last fiscal year ended July 2019 at about 160 million dollars.
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