Stocks mostly up after holiday, but Dow slips
NEW YORK - Stocks ended mostly higher on Wall Street as traders got back to work Tuesday after the holiday weekend.
The S&P 500 index rose about 2 to close at 1,840. The Dow Jones industrial average slipped 24 to 16,130. The Dow was held back by Coca-Cola, which fell 4 percent after reporting disappointing results. The Nasdaq increased 28 to 4,272.
Toray announces $1B investment in Upstate
COLUMBIA - Toray Industries plans to invest $1 billion and hire 500 people over the next decade in Spartanburg County.
S.C. officials announced Tuesday that the Tokyo-based manufacturer plans to build on 400 acres in Moore. The planned investment is among the largest in S.C. history.
The plant will make high-performance carbon fiber for the aerospace industry. Toray is among the world's largest producers of carbon fiber.
The Department of Commerce says more than 200 aerospace companies employ 20,000 people in the state.
Gov. Nikki Haley called Toray's decision a "real game-changer for the Upstate and all of South Carolina."
The state approved $10 million in up-front grants toward buying the land and infrastructure improvement. Toray will also receive tax breaks that would kick in after the state certifies the company has met its jobs and investment targets.
Delinquent credit card payments climb in 4Q
LOS ANGELES - Many Americans took on more credit-card debt and failed to make timely payments in the final quarter of 2013, when consumers typically crank up spending on holiday shopping.
Even so, the national late-payment rate remained close to its lowest level in six years, credit reporting agency TransUnion said Tuesday.
The rate of credit-card payments at least 90 days overdue was 1.48 percent in the October-December quarter. That's up from 1.36 percent in the previous three-month period, but down from 1.61 percent in the fourth quarter of 2012.
Average card debt per borrower rose 1.7 percent from the third quarter to an average of $5,325.
Oak Ridge Lab on team to improve 3-D printer
OAK RIDGE, Tenn. - Oak Ridge National Laboratory is partnering with Cincinnati Inc. to develop a 3-D printing system that can print faster, larger and more cheaply than current systems.
The lab says most 3-D polymer printers on the market can only fabricate small prototype parts. The lab and Cincinnati hope to build a system that is 200 to 500 times faster and capable of printing polymer components 10 times larger than today's common printers.
Duke Energy's profits up 58% for 4th quarter
CHARLOTTE - Duke Energy's fourth-quarter profit jumped 58 percent after rates were increased in the U.S. and a strong performance from some of its overseas operations.
Net income at Duke's regulated utilities increased 22 percent to $607 million thanks to the rate increases, as well as lower operating and maintenance expenses. Weather also played had a role in the strong quarter.
With 7.2 million customers, Duke Energy is the nation's largest electric utility.