Briefcase
Train carrying BMWs derails in Upstate; trucks fill gap
Automaker BMW is temporarily transporting export vehicles to the Port of Charleston by truck because of a train derailment at its Upstate plant Friday, a spokeswoman said.
A part of a train transporting BMW X5 and X6 sport utility vehicles jumped the tracks at BMW’s facility in Greer just before 6 a.m., according to BMW spokeswoman Sky Foster. Nobody was injured in the incident and none of the vehicles were damaged, she said.
She said distribution was not halted, but the company has turned to alternative transportation like trucks to send the vehicles to Columbus Street Terminal in Charleston for shipping overseas.
Foster said it was not immediately known what caused the derailment, but Norfolk Southern is in the process of repairing the damage to the rail line.
Duke to close N. Carolina coal electric plants sooner
Duke Energy said Friday it will shutter two aging coal-fired power plants near Charlotte in April, two years ahead of schedule. The Buck and Riverbend plants have been in operation for nearly eight decades, though they have been operating with less frequency in recent years.
They were scheduled for mothballing in 2015, ahead of stiffer environmental regulations, but Duke’s modernization with more efficient plants combined with low natural gas prices hastened the move.
In South Carolina, both state-owned utility Santee Cooper and investor-owned South Carolina Electric & Gas Co. announced decisions last year to phase out their older coal units.
U.S. gains 157,000 jobs; jobless rate up to 7.9%
WASHINGTON — The U.S. job market is proving sturdier than expected at a time when the economy is under pressure from Washington gridlock and the threat of government spending cuts.
Employers added 157,000 jobs in January, and hiring was much stronger at the end of last year than the government had previously estimated.
Still, unemployment remains persistently high. The unemployment rate ticked up to 7.9 percent last month from 7.8 percent in December.
The Labor Department’s estimated job gains for the final two months of 2012 rose from 161,000 to 247,000 for November and from 155,000 to 196,000 for December.
Detroit, Toyota see big U.S. sales gains for January
DETROIT — American consumers ignored tax increases and trudged through winter weather to buy new cars and trucks at an unusually strong pace last month.
Analysts said it will likely be the best January in five years once all automakers report sales. Toyota posted a 27 percent increase, while Ford sales jumped 22 percent. GM and Chrysler each reported 16 percent gains compared with a year earlier.
The results left the industry optimistic about the new year. Businesses bought more trucks. Consumers are ready to buy — their cars have reached a record average of 11.3 years old — and banks are making it easier with low interest rates and looser credit terms.
Refining margins boost profits for Exxon Mobil
DALLAS — Exxon Mobil Corp. said Friday that fourth-quarter earnings rose 6 percent to $9.95 billion with help from higher refining profit margins.
The oil giant barely missed a record for full-year earnings. It earned $44.88 billion in 2012, about $340 million shy of its 2008 mark of $45.22 billion, an all-time high for a publicly traded company.
Exxon still makes most of its money by producing oil and gas, but that end of the business was less profitable than a year ago because of lower prices and production. The company made up the difference in the refining business.
Staff and wire reports
Comments { }
Postandcourier.com is pleased to offer readers the enhanced ability to comment on stories. We expect our readers to engage in lively, yet civil discourse. Postandcourier.com does not edit user submitted statements and we cannot promise that readers will not occasionally find offensive or inaccurate comments posted in the comments area. Responsibility for the statements posted lies with the person submitting the comment, not postandcourier.com. If you find a comment that is objectionable, please click "report abuse" and we will review it for possible removal. Please be reminded, however, that in accordance with our Terms of Use and federal law, we are under no obligation to remove any third party comments posted on our website. Read our full Terms and Conditions.