Business news

Textile firm to hire 120 at Barnwell site


A&K Textiles, a maker of safety clothing, announced plans Wednesday to create 120 jobs in Barnwell County, S.C., by relocating operations from Alexandria, Egypt.

The company expects to bring the new operations online by April. Hiring should begin in March.

A&K Textiles will set up a new cut-and-sew operation in part of the former Hanesbrands building, investing $150,000.

Productivity rises, but at slower pace

WASHINGTON — U.S. workers increased their productivity over the summer by the most in a year-and-a-half but the gain was smaller than initially thought.

A more productive and less-costly work force can boost corporate profits. But unless companies see more demand, they’re unlikely to step up hiring.

Productivity rose at an annual rate of 2.3 percent in the July-September quarter, the Labor Department said. That was slower than the
3.1 percent the government estimated a month ago. Labor costs fell at a 2.5 percent rate, a slightly larger decline than first estimated.

In other news

THE PRICE OF OIL finished trading above $100 for the first time in two weeks Wednesday, as the U.S. and other countries made it easier for banks to lend money and keep the global economy growing. Gasoline pump prices are holding at a national average of $3.295 a gallon, according to AAA, Wright Express and Oil Price Information Service.

– Staff and wire reports