Business briefs

February 6 Business briefs Consumers borrow less

Americans borrowed less for an 11th consecutive month in December, paying off credit cards while increasing borrowing for cars and other products.

The mixed picture raises hopes that Americans may soon return to spending, a necessary condition for economic recovery.

But the record 11-month decrease in overall borrowing shows consumers are still holding back amid lingering economic uncertainty and 9.7 percent unemployment.

The Federal Reserve said Friday that total borrowing dropped by $1.8 billion — far less than the revised $10.6 billion for November. it also was well below the $9 billion analysts had expected.

Borrowing on credit cards fell by $8.5 billion, while other types of loans increased by $6.8 billion.

Caterpillar and General Electric are among companies hiring workers as the global economy recovers, contributing to the first increase U.S. manufacturing payrolls in three years in January.

Caterpillar, the world’s biggest maker of bulldozers and excavators, has recalled more than 500 laid-off workers over the past two months. General Electric is hiring U.S. workers in energy, appliances, rail and research.

Factories unexpectedly added 11,000 workers to payrolls in January, the first increase since January 2007 and the biggest since April 2006.

China hikes chicken duty

China, the largest market for U.S. chicken, will impose preliminary anti-dumping duties of up to 105.4 percent on imports of American poultry products, threatening to deepen a trade rift.

Importers of U.S. broiler chicken products will be required to pay after an investigation showed they had caused “material damage” to local producers, the Ministry of Commerce said in a statement on its Web site. the measure will become effective Feb. 13, it said.

The investigation began two weeks after the U.S. imposed tariffs on tire shipments from the Asian nation.

More SBA lending urged

President Barack Obama on Friday asked Congress to temporarily expand two lending programs for the owners of small businesses.

Obama said he wants businesses to be able to refinance their commercial real estate loans under the Small Business Administration and he wants the agency to increase loans used for lines of credit and capital.

Dallas Geisinger reopening

The Geisinger – Dallas family practice office that has been closed since a Dec. 22 fire at the Dallas Shopping Center will reopen Monday.

Patients who have appointments scheduled for Feb. 8 or later are asked to report to the clinic site at 40 Dallas Shopping Center, Route 309.

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