Maine exports set record as sales reach $3.15 billion

The state of Maine in 2010 set a record for exports, according to the Maine International Trade Center in Portland.

Janine Bisaillon-Cary, president of the Trade Center, announced Thursday that Maine exporters made $3.15 billion of sales in 2010, outpacing the previous record of $3.02 billion set in 2008.

The 2010 export total also represents a 41 percent increase over 2009 exports of $2.23 billion.

Some of the strongest gains occurred in the state’s semiconductor, wood pulp, and paper industries. Those industries, Bisaillon-Cary said, represent over $1.66 billion in sales.

Seafood ranks as Maine’s fourth largest export product, with exports totaling $287 million for 2010. Lobster sales topped the seafood category with over $178 million in product sent to overseas markets.

European Central Bank says loans may cost more

The European Central Bank’s chief shocked markets Thursday by saying interest rates could be raised as soon as the next policy meeting in April — far earlier than expected — to fight inflation across the 17-nation eurozone.

Speaking after the bank left its main interest rate unchanged at the record low of 1 percent, President Jean-Claude Trichet said an interest rate increase next month was “possible” though “not certain.”

Treasuries lead to drop in fixed mortgate rates

The average rate on the 30-year fixed mortgage dropped this week, following lower yields on Treasury bonds.

Freddie Mac said Thursday the average rate on the 30-year loan slipped to 4.87 percent from 4.95 percent. It hit a 40-year low of 4.17 percent in November.

The average rate on the 15-year fixed home loan fell to 4.15 percent from 4.22 percent. It reached 3.57 percent in November, the lowest level dating back to 1991.

Wal-Mart raising dividend 21 percent for year ahead

Wal-Mart Stores Inc. said Thursday that it is increasing its annual dividend 21 percent, to $1.46 from $1.21.

The world’s largest retailer said it will pay quarterly dividends of 36.5 cents in April, June, September and January in fiscal 2012, which ends Jan. 31. The next dividend will be paid on April 4 to shareholders of record on March 11.

Popularity of tablets may hurt sales of laptops

Market research firm Gartner Inc. has reduced its PC shipment forecast for this year and next, predicting the growing popularity of tablet computers such as Apple Inc.’s iPad will cut into the demand for consumer laptops.

Gartner said Thursday that it expects global PC shipments of 387.8 million in 2011, up 10.5 percent from 2010. Previously, Gartner predicted 15.9 percent growth.

Gartner said the availability of Internet access on various mobile devices means that consumers are not as tied to laptops for getting on the Web.

Grocer’s sales increase despite change in habits

The nation’s largest traditional grocery chain says more households are buying most of their groceries at its stores while stretching out their spending over more trips as they face higher food and gas prices.

Kroger Co. on Thursday reported that its fourth-quarter profits and sales jumped, as the company saw increased customer loyalty and gained on the competition in most of its markets.

The grocer said shoppers are paying more at checkout as its food and dairy prices rise, and they made more trips to the store in the fourth quarter, though each transaction was worth less than a year earlier.