The Boeing Co. moved its second 787 Dreamliner jet from its factory in Everett to the flight line, signaling another step toward first flight. The first 787 has undergone rigorous tests and flight simulations since moving to the flight line in May. The company still needs to finish “final gauntlet” tests and taxiing on the first 787 before it’s ready to fly sometime before the end of June. Boeing workers will begin testing the fuel systems of the second 787, which is painted in the livery of launch customer All Nippon Airways of Japan.
U.S. builder confidence slips by 1 point
The National Association of Home Builders says its housing market index slipped by 1 point in June, reflecting many builders’ uncertainty about when their business prospects might improve. The Washington, D.C.-based trade association said Monday the index fell to 15 — the first decline since January, when the index dropped to an all-time low of 8. Index readings lower than 50 indicate negative sentiment about the market. The report reflects a survey of 548 residential developers nationwide, tracking builders’ perceptions of market conditions. The index readings for current sales conditions and traffic by prospective buyers remained unchanged from May. The reading on expectations for sales over the next six months also dropped by 1 point.
Seattle Times Co. sells its Maine newspapers
The Seattle Times Co. has sold its Blethen Maine newspapers, including the Portland Press Herald and Maine Sunday Telegram, to an investor group led by Bangor native Richard Connor. Terms of Monday’s sale haven’t been disclosed. The Seattle Times reportedly paid upward of $200 million for the former Guy Gannett chain in 1998, but the price that newspapers fetch has declined sharply amid a drop in ad revenues and the migration of readers to the Internet. Connor is editor and publisher of the Times Leader in Wilkes-Barre, Pa. He signed a purchase agreement in November, but the sale was put off while he scrambled to line up financing.
T-bill rates decline in Monday auction
The Treasury Department on Monday auctioned three-month bills at a discount rate of 0.16 percent, down from 0.19 percent last week. Six-month bills were sold at a discount rate of 0.29 percent, down from 0.345 percent last week. For a $10,000 bill, the three-month price was $9,995.96, while a six-month bill sold for $9,985.34. That would equal an annualized rate of 0.162 percent for the three-month bills, and 0.294 percent for the six-month bills. Separately, the Federal Reserve said Monday that the average yield for one-year Treasury bills, a popular index for making changes in adjustable-rate mortgages, rose to 0.56 percent last week from 0.5 percent the previous week.
From Herald news service
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