Spencer Musick

2 weeks ago | virginiabusiness.com | Spencer Musick |Katherine Schulte

SUMMARY: Hooker aims to cut $25M in fixed costs by fiscal 2027 Phase 1 involved downsizing and other cuts for $10M in cost savings Phase 2 focuses on logistics, operational consolidation Company facing headwinds like soft consumer sentiment, weak housing market Martinsville-based Hooker Furnishings is moving ahead with a multi-phase restructuring plan aimed at cutting $25 million in annual fixed costs by fiscal 2027, roughly 25% of its baseline, company executives revealed in an earnings call...

3 weeks ago | giftsanddec.com | Spencer Musick

U.S. President Donald Trump held a phone conversation with his Chinese counterpart Xi Jinping on Thursday, according to a brief report from China’s official Xinhua News Agency. The call took place at Trump’s request, but no further details about the content or length of the conversation were released as of Thursday evening Beijing time. The call comes as tensions escalate between the two major economic powers following mutual accusations of breaching a recent trade agreement reached in Geneva.

3 weeks ago | giftsanddec.com | Spencer Musick

President Donald Trump issued a proclamation on June 3 doubling tariffs on imported steel and aluminum articles, raising duties from 25 percent to 50 percent. The new duties went into effect at midnight today, June 4. The decision comes as part of a continuing effort under Section 232 of the Trade Expansion Act of 1962, which allows for tariff adjustments on national security grounds.

3 weeks ago | designerstoday.com | Spencer Musick

Outdoor living is no longer a seasonal sport: People now view it as a year-round feature and extension of the home, according to renovation resource provider Fixr’s “Outdoor Living Trends Report 2025.”The report noted that more than half of industry experts (56%) say homeowners are prioritizing outdoor upgrades more than they did in 2024, with updated backyards increasingly viewed as both lifestyle enhancements and smart investments.

3 weeks ago | hfndigital.com | Spencer Musick

Washington - U.S. Customs and Border Protection (CBP) has extended its "goods on the water" tariff exception through June 16, offering importers temporary relief from the reciprocal tariffs imposed by President Trump under the International Emergency Economic Powers Act (IEEPA). The extension, outlined in CBP's Cargo Systems Messaging Service, updates the prior cut-off date of May 27.