Dick's, foundation launch $25M youth athletics effort
Findlay retailer Dick's Sporting Goods and its foundation have committed to a $25 million multiyear effort to support youth athletic programs, including the launch of a crowd-funding initiative in which the Dick's foundation will match community donations to award up to $2 million in grants to disbanded or financially challenged youth sports teams.
Foreign goods rise helps widen U.S. trade deficit
The U.S. trade deficit widened slightly in January as a rise in imports of oil and other foreign goods offset a solid increase in exports. The trade deficit increased to $39.1 billion, up 0.3 percent from December's revised $39 billion deficit, the Commerce Department reported Friday. Exports climbed 0.6 percent to $192.8 billion, led by increased sales of U.S.-made machinery, aircraft and medical equipment. Imports also rose 0.6 percent to $231.6 billion, reflecting a 9 percent jump in imports of petroleum.
Consumer borrowing rises $13.7 billion in January
Consumers increased their borrowing in January on autos and student loans but cut back on their credit card use. Consumer borrowing rose $13.7 billion in January following an even larger $15.9 billion rise in December, the Federal Reserve reported Friday. The category that includes auto and student loans increased $13.9 billion while the category that covers credit cards fell $226 million, marking the third time in the past five months that credit card loans have declined.
Agency pushes Graco to explain Feb. recall
The National Highway Traffic Safety Administration said Friday that child seat maker Graco has until March 20 to explain why last month's recall of 3.8 million child seats didn't include infant seats, which have the same buckles that can get stuck as the child seats. The February recall covered 11 models of child seats made from 2009 through 2013 by Graco Children's Products.