Business

Manufacturing levels in the Philadelphia area fell back to a near-flat level this month following a big jump in January, the Federal Reserve Bank of Philadelphia said Thursday.

Diesel engine manufacturer Caterpillar Inc. plans to repurchase $7.5 billion of its stock in the five years, its fourth buyback since 1995, the company said Thursday.

Tire maker Michelin said Thursday it earned about $750 million or $5.20 a share in 2006, down from $1.17 billion or $8.04 in 2005.

Industrial production fell 0.5% in December, the most in more than a year, the Federal Reserve said Thursday.

Manufacturing growth in New York state rebounded in February from January, the Federal Reserve Bank of New York said Thursday.

The price of goods imported to the United States fell 1.2% in January, the most in three months, the Labor Department said Thursday.

First-time U.S. jobless jumped last week by 44,000, the biggest increase since September 2005, the Labor Department said Thursday.

A time-honored axiom of business is that everything begins with a sale. It’s a truism that seems especially apt in the transportation industry. After all, motor carriers need to find freight to fill their trailers. Shippers need to find carriers to haul their commodities.

The big snow storm that paralyzed parts of the Midwest Wednesday shut down traffic on Interstate 78 for about 50 miles near the junction with Interstate 81 in Lebanon County, Pa., the Allentown Morning Call reported Thursday on its Web site.

The U.S. Transportation Department’s transportation services index fell 0.4% in 2006, its first annual decline since 2001, DOT said Wednesday.