The Washington Utilities and Transportation Commission will host a public hearing at 4 p.m. today in Everett on Verizon Communications Inc.’s proposed increase in residential and business telephone rates. Under a proposed compromise with state regulators, Verizon would raise its rates by $3.90 a month for residential and business customers in two steps between this year and July 2007. The hearing is scheduled to take place in the Weyerhaeuser Room on the fourth floor of Everett Station, 3201 Smith Ave.
NetMusic to offer video on demand
NetMusic Entertainment Corp. of Edmonds said it will launch its new video on demand service in mid-May after successfully presenting the previously unreleased movie online last week. NetMusic’s service will offer a large selection of music videos, archival footage, films and television shows. The company did not say how much the service will cost.
Bothell biotech wins antibody patent
Bothell-based Northwest Biotherapeutics has received a patent for antibodies to a protein that plays a role in a majority of cancers. The patent provides broad coverage for the use of antibodies that may prevent and block the spread of cells that contain the protein.
Interest rate hike expected from Fed
Federal Reserve policy-makers, wanting to prevent a broader outbreak of inflation as oil prices surge, are likely to raise interest rates. The Fed is poised to boost its key federal funds rate by one-quarter percentage point to 2.75 percent today.
Verizon’s Seidenberg paid $17.3 million
Verizon Communications Inc. paid Chairman and Chief Executive Ivan Seidenberg $17.3 million in cash, equity and perks during 2004, according to a company Securities and Exchange Commission filing.
T-bill rates rise in Monday auction
The Treasury Department auctioned three-month bills at a discount rate of 2.8 percent, up from 2.735 percent last week. Six-month bills were auctioned at a discount rate of 3.035 percent, up from 3 percent last week. The new discount rates understate the actual return to investors – 2.859 percent for three-month bills with a $10,000 bill selling for $9,929.22 and 3.125 percent for a six-month bill selling for $9,846.56. The Federal Reserve also said Monday that the average yield for one-year Treasury bills, a popular index for changing adjustable rate mortgages, rose to 3.31 percent last week from 3.24.
From Herald staff and news services