P&G predicts rise in costs
NEW YORK Buyers of Proctor & Gamble products could soon pay higher prices.
Dow Chemical, one of P&G’s main suppliers of the materials it uses to make its products, has had to increase costs by up to 20 percent to defray rising prices of energy and raw materials. P&G does not know how much that will affect prices of its own products, whose prices have already increased this year by between 6 and 10 percent.
The company reported that first-quarter spending on raw materials had increased by 42 percent, and that the increase in prices for its materials was the largest in its 111-year history.
Dow’s stock price was down by 0.03 percent at 2:57 p.m. Thursday on the New York Stock Exchange.
Akasha puts a new spin on mascara
SAN FRANCISCO Akasha has introduced the new Spinlash, a mascara with a rotating brush.
The Spinlash brush rotates to remove clumps, coat and separate with each turn, and it also applies a liquid line of eyeliner all at the same time.
“We sent out samples and our customers discovered the innovation: If you hold the wand at the base of the eyelashes and pause for just a moment, before stroking upwards, you actually get a perfect coat of mascara and a professional application of eyeliner—all at the same time,” stated Barbara Carey, inventor of the Spinlash.
Revlon announces plans to regain NYSE compliance
NEW YORK Beauty company Revlon announced on Friday that plans to regain compliance with the New York Stock Exchange’s criteria of $1 per share average closing price over 30 consecutive trading days through its pending reverse stock split.
As previously reported in its April 11, 2008 current report on Form 8-K filed with the SEC, the company was advised by the New York Stock Exchange in April 2008 that the price of its Class A common stock was below the NYSE’s price criteria, requiring at least a $1 per share average closing price over 30 consecutive trading days. The company’s Class A common stock continues to be listed on the NYSE.
In April 2008, Revlon advised the NYSE that its board of directors and stockholders had already approved a 1-for-10 reverse stock split of Revlon’s Class A and Class B common stock and that it intended to regain compliance with the NYSE’s price criteria, by, among other things, implementing the split.
Revlon has six months following the April 2008 notification to bring its share price and 30 trading day average share price to $1 or above, during which time the company’s Class A common stock will continue to be listed on the NYSE.