Shaw to lead Duke Endowment board
Minor Mickel Shaw has been elected to serve as chairwoman of the board for The Duke Endowment by its trustees. Shaw will be only the 10th person to hold the position since the endowment was funded in 1924, according to a release. The Greenville businesswoman succeeds the late L. Neil Williams Jr., who headed the board until August. The Charlotte-based endowment provides grants for the betterment of communities in South Carolina and North Carolina. Dr. Jean Spaulding, chair of the endowment’s Committee on Trustees and Governance, said Shaw will be a strong leader for the board, calling her “a leader in education, health care, children’s welfare, and spiritual life – the areas of special interest to our founder.”
Americans increase borrowing
WASHINGTON Americans boosted their borrowing in August by the largest amount in three months with strong gains in the category that covers auto and student loans and in credit card debt. The Federal Reserve says that total consumer borrowing increased $18.1 billion in August compared to July. In July, consumer borrowing had fallen for the first time in nearly a year. The rebound in August along with a separate report that showed the nation’s unemployment rate dropped to 7.8 percent in September were viewed as encouraging signs for an economy that has been struggling in recent months. The August borrowing gains reflected a $4.2 billion increase in borrowing on credit cards and a $13.9 billion increase in auto and student loans.
FDA targets counterfeit drugs sold online
WSHINGTON The Food and Drug Administration is stepping up its fight against counterfeit and other potentially harmful medicine sold over the Internet. The agency is ordering operators of about 4,100 websites to immediately stop selling unapproved medications to U.S. consumers. The FDA has sent warning letters to three companies behind most of the websites. It’s also seized some illegal medicines, filed civil and criminal charges against companies and people, and contacted Internet registrars and service providers, asking them to suspend the 4,100 websites. Those efforts are part of a global crackdown on online sellers of counterfeit and illegal medical products. Interpol, the international police agency, says about $10.5 million worth of medicines were seized worldwide last week and more than 18,000 illegal pharmacy websites were shuttered.
The Associated Press contributed.