Consumer prices in the Seattle metropolitan area, which includes Snohomish County, increased by a full 1 percent during the past two months, according to the U.S. Department of Labor. Rising significantly were transportation, food, clothing and housing costs. The consumer price index for the region is now at 196.5, meaning that a market basket of goods and services that cost $100 in 1982-84 would have cost $196.50 in October.
Audits of wealthy bring in $43 billion
The IRS increased its audits of wealthy taxpayers this year, helping the agency haul in a record $43 billion in unpaid taxes. The tax collectors released the audit statistics with a prod at lawmakers to give the agency an extra $500 million the president requested for expanding efforts to track down tax evaders.
Insurance company kickbacks alleged
Four major insurance companies paid a broker tens of millions of dollars in hidden kickbacks in exchange for winning contracts with some of the largest U.S. companies, California Insurance Commissioner John Garamendi charged Thursday. A lawsuit filed in San Diego Superior Court names MetLife Inc., Prudential Financial Inc., Cigna Corp. and UnumProvident Corp. Company officials denied any wrongdoing.
Warning drops Google shares
Shares of Google Inc. slipped nearly 3 percent Thursday after the world’s most popular Internet search engine warned for the second time in a week that its fourth-quarter revenue growth may be less than the previous quarter. In a regulatory filing with the Securities and Exchange Commission, the Mountain View, Calif.-based company said its growth rate would probably decline in the fourth quarter because of intensifying competition and an “inevitable” slowdown as the business gets bigger.
Airbus officials deny alliance
Airbus parent EADS said Thursday it was not planning any alliance with defense group Thales SA, dampening speculation that a French government-backed deal was imminent. Philippe Camus, co-chief executive of European Aeronautic Defence and Space Co., made the comments at a meeting with fund managers in Paris. “He said that a consolidation between EADS and Thales was not on the agenda,” a spokeswoman said. Senior managers will nevertheless continue to pay close attention to any changes to Thales’ ownership structure, she added.
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