Business news briefs: Consumer borrowing rises for sixth month, Fed says

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Consumer borrowing rises for sixth month, Fed says

Americans took out more loans in February but used their credit cards less frequently for the second straight month. The Federal Reserve says consumer borrowing increased by $8.7 billion, the sixth straight monthly increase. The jump was driven by $11 billion increase in the category that mostly measures demand for auto and student loans. Borrowing on credit cards fell $2 billion after a $3 billion decline in January. In February, total consumer borrowing rose to seasonally adjusted $2.52 trillion.

Quick Car Wash wins state environmental grant

Nine of the state's small businesses, including one in Allegheny County, have been awarded more than $57,000 in grants from The Pennsylvania Department of Environmental Protection. Oakland-based Quick Car Wash has been awarded $6,062 through the Small Business Advantage Grant program, which provides 50 percent reimbursement up to $7,500 for projects that will save a business at least $1,000 and 25 percent in pollution prevention or energy costs per year.

Eastman Kodak seeks OK to pay executive bonuses

Eastman Kodak Co. is seeking permission to pay about 300 executives and other employees a total of $13.5 million in bonuses to persuade them to stay with the company as it reorganizes under bankruptcy protection. The Rochester, N.Y.-based company also told 16,000 Medicare-eligible retirees it has withdrawn for now its motion to end supplemental health care benefits.

Facebook to list shares with Nasdaq

Facebook will list its shares with Nasdaq, according to media reports. That would be a big win for the Nasdaq, which competes fiercely with NYSE Euronext Inc., especially for an initial public offering as large as Facebook's, pegged at $5 billion. The New York Times and CNBC cited anonymous sources on the potential listing.


First Published April 7, 2012 12:00 AM


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