Five Washington communities, including Mukilteo and Mount Vernon, have made a Yahoo News list of the nation’s 25 most affordable suburbs. They were chosen based on home prices, crime statistics and quality of local schools. In addition to Mukilteo and Mount Vernon, the writer chose Bellingham, Olympia and Spokane. It’s hard to figure out why Spokane was selected as a suburb, since the article lists the nearest major city to Spokane as Seattle, which is 338 miles away.
Buyer boosts bid for Chicago Trade
Chicago Mercantile Exchange Holdings Inc. sweetened its offer Friday for the Chicago Board of Trade’s parent company in an attempt to end a bidding war, bumping the bid up 16 percent to nearly $10 billion and pledging a hefty stock buyback if the deal goes through. CBOT Holdings Inc., which operates the Board of Trade, swiftly deemed the bid superior to the unsolicited one by IntercontinentalExchange Holdings Inc., even though ICE’s offer is still higher – $10.5 billion versus $9.9 billion, based on Friday’s closing stock prices. It recommended that shareholders accept the revised bid from the Merc.
Gas prices slow April spending
Consumers, battered by surging gasoline prices, cut back spending for clothes, cars and other items in April, raising worries about the already weak economy. Retail sales fell 0.2 percent in April, the first decline in seven months, the Commerce Department reported Friday.
China trade gap widens in April
China’s monthly trade surplus more than doubled in April to nearly $17 billion, the government said Friday, adding to pressure on Beijing ahead of closely watched talks with Washington on its swollen trade gap. The April trade gap of $16.88 billion was below February’s $23.7 billion – the second-highest level on record – but in line with steady increases in monthly trade surpluses over the past year. Chinese and U.S. trade envoys are due to meet May 23-24 in Washington for talks on Beijing’s surpluses, currency controls, product piracy and other contentious issues.
Nigeria violence shuts down Chevron
Chevron Corp. temporarily shut down some operations in Nigeria’s offshore waters Friday as the second-largest U.S. oil company scrambled to protect its workers and equipment from rampant violence that threatens to drive up gasoline prices. The San Ramon-based company’s lockup in the Niger Delta came just a few days after gunmen seized four of its American subcontractors from an offshore vessel amid an outbreak of militant attacks that have disrupted Africa’s biggest oil-producing country.
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