Business Briefs: News on manufacturing breaks skid in Dow, S&P

NEW YORK — Stocks rallied Wednesday, breaking a four-session loss streak for the Dow Jones industrial average and S&P 500, lifted by Chinese and European data and an expansion in U.S. manufacturing.

Equities around the globe surged after China’s official manufacturing survey advanced, topping expectations, and Europe’s performed better than anticipated.

A parallel read on the U.S. economy, from the Institute for Supply Management, showed that business at U.S. manufacturers expanded in January at the fastest pace in eight months.

The Dow rose 83.55, or 0.7 percent, at 12,716.46.

The S&P 500 rose 11.68, or 0.9 percent, to 1,324.09.

The Nasdaq index rose 34.43, or 1.2 percent, to 2,848.27.

S.C. hospice operator sold to Tennessee firm

A Berkeley County hospice center and seven others around South Carolina have been sold to a Tennessee company.

Knoxville-based Caris Healthcare said it acquired Solaris Hospice for undisclosed terms. It will generate about $14 million in annual revenue and add 150 employees for Caris, which now has 25 locations in the Tennessee, South Carolina and Virginia.

The deal included a hospice at 3751 Live Oak Dr. in Moncks Corner. The others are scattered around the state.

Oceana pleasure ship is due in port today

P&O Cruises’ Oceana is scheduled to arrive with 1,944 passengers at Union Pier in downtown Charleston today.

The port-of-call precedes a trans-Atlantic crossing to Ponta Delgada in the Azores archipelago, off the coast of Portugal. The ship is set to arrive around 7:30 a.m. and sail at 4:30 p.m. No street closings are associated with the visit.

Most major automakers report strong Jan. sales

DETROIT — U.S. auto sales are off to a strong start this year, continuing their brisk pace from late 2011.

Chrysler had its best January in four years. Toyota and Honda were back in the game, getting boosts from new vehicles. Volkswagen, which wants to aggressively expand in the U.S., reported big increases.

The only loser among the major carmakers was General Motors, where sales fell 6 percent from a strong January last year.

Sales of cars and trucks rose 11 percent to 913,287 in January, kicking off what is expected to be the strongest year for the industry since the recession.

American Airline’s parent to reduce labor force 15%

DALLAS — The parent of American Airlines wants to eliminate about 13,000 jobs — 15 percent of its workforce — as the airline remakes itself under bankruptcy protection.

AMR Corp. aims to cut labor costs by 20 percent and will soon begin negotiations with its three major unions. Some management jobs would also be cut. AMR also proposes to end traditional pensions.

AMR lost $884 million in the first nine months of 2011, and on Tuesday it disclosed a $904 million loss for December.

Kansas lawmakers ask for study of Boeing pullout

WICHITA, Kan. — Sen. Jerry Moran and U.S. Rep. Mike Pompeo are asking the Secretary of the Air Force to study whether Boeing Co.’s closure in Wichita will create a national security issue.

“We write to inquire about any potential degradation of our national security because of this action,” the Republicans wrote last week to

Michael Donley.

Boeing announced Jan. 4 plans to close its defense facility in Wichita by 2014. Wichita workers are part of programs requiring specialized security clearances that include extensive, costly background checks.

Boeing spokesman Forrest Gossett said the company is aware of the security requirements and is “committed to meeting those requirements for our customers.”