IN BRIEF
BRADFORD — A northwestern Pennsylvania company is helping Green Bay Packer fans celebrate their Super Bowl victory over the Pittsburgh Steelers.
Zippo Manufacturing in Bradford is selling a commemorative version of its windproof lighter featuring logos of the Packers and Super Bowl XLV.
Zippo is based about 125 miles northeast of Pittsburgh, near the New York border.
The company is best known for its metal-jacketed cigarette lighters that make a distinctive “click” when their lid is opened.
WASHINGTON — Americans are putting more money on their credit cards after two years of cutting back, helping fuel the third straight monthly increase in consumer borrowing.The Federal Reserve reports consumers increased their borrowing by $6.1 billion in December to a seasonally adjusted annual rate of $2.41 trillion. That represented a gain of 3 percent.Borrowing in the category that includes credit cards rose 3.5 percent, the first advance after a record 27 straight monthly declines. Borrowing on auto loans was up 2.8 percent.Even with the December gains, consumer borrowing is just 0.7 percent higher than the more than three-year low hit in September. It is 6.6 percent below the high set in July 2008.
NEW YORK — Hasbro's earnings slipped 16 percent in the fourth quarter as U.S. demand for board games waned later in the year.But the toy maker's net income still beat Wall Street expectations, and the company said it expects earnings and revenue growth in 2011.Hasbro, which raised its quarterly dividend by 20 percent four days ago, admits it had some missteps in its games category in the fourth quarter, including trying to promote too many products at the same time. It makes many of the classics, including Life, Clue, Cranium and Battleship.The fourth quarter is a crucial one for toy makers because it includes the holiday season. The period can often make up nearly a third of annual revenue.Hasbro's quarterly net income fell to $140 million, or 99 cents per share, for the three months ending Dec. 26. That compares with $165.6 million, or $1.09 per share, a year ago.
TOKYO — Toyota reported a 39 percent slide in quarterly profit but raised its full-year forecasts as business booms in Asia and other emerging markets while image problems linger in the U.S.The results show a mixed picture for the world’s biggest automaker, which is enjoying robust sales in Asia, Africa and South America while still trying to repair its reputation in the key U.S. market following quality lapses.Toyota reported today a net profit of 93.63 billion yen for its fiscal third quarter, down from 153 billion yen a year earlier. Quarterly ales at the Japanese automaker declined 11.7 percent to 4.673 trillion yen.The drop was largely due to damage from the strong yen, which erodes the value of Japanese exports, and the end of government-backed incentives for green cars in Japan, according to Toyota — the world’s No. 1 carmaker for three years straight since dethroning Detroit-based General Motors in 2008.The maker of the Lexus luxury model, Camry sedan and the Prius hybrid now expects to sell 7.48 million vehicles worldwide in the year ending March 31, up from the previous forecast for 7.1 million vehicles. The forecast would mark a 3 percent increase from 7.24 million vehicles.
