Scuttlebutt Brewing Co. at the Everett Marina will donate all the proceeds from beer sales on Friday to the recovery efforts in Japan following the earthquake and tsunami. The money will be directed to the community of Ishinomaki, the Port of Everett’s friendship port. Much of the area is still unde
rwater. Phil Bannan, a co-founder of the Scuttlebutt brew pub, was a member of the Everett delegation that traveled to Japan when the friendship arrangement was initiated. “I have been to Ishinomaki,” Bannan said in a prepared statement, “and I know some of the people affected by this tragedy. Some of them have been to our brewery and home. Maybe we can do a little to help them.” Scuttlebutt will have Happy Hour prices on beer all day Friday.
United, Continental raising fares in U.S.
United and Continental airlines are raising fares on many U.S. routes by $10 per round trip. The increase was confirmed Monday by Mike Trevino, a spokesman for the airlines. U.S. airlines have raised fares at least a half-dozen times this year as they try to offset rising jet fuel costs. The last attempt failed when other airlines decided not to follow American Airlines when it raised prices earlier this month, also by $10 per round trip. Rick Seaney, CEO of travel website FareCompare.com, said consumers also got a break last week when U.S. airlines offered more discount seats for early-summer travel. Still, he said, cheap seats will be harder to find this year.
Schwab to buy online brokerage for $1B
Charles Schwab is buying online brokerage services provider OptionsXpress for $1 billion. OptionsXpress stock jumped $2.51, 16.4 percent, to $17.84 in pre-market trading. Schwab shares added 9 cents to $17.65. The discount broker said OptionsXpress shareholders will receive 1.02 shares of Schwab stock for each share of OptionsXpress share. Based on Schwab’s closing price Friday of $17.91, the transaction is valued at $1 billion. OptionsXpress Holdings Inc., based in Chicago, provides brokerage services for equity options and futures trading. The company has 385,200 accounts and $8.1 billion in assets.
T-bills rates rise in Monday auction
The Treasury Department auctioned three-month bills at a discount rate of 0.095 percent, up from 0.09 percent last week. Six-month bills sold at a discount rate of 0.15 percent, up from 0.135 percent last week. For a $10,000 bill, the three-month price was $9,997.60 while a six-month bill sold for $9,992.42. That would equal an annualized rate of 0.097 percent for the three-month bills and 0.153 percent for six-month bills. Separately, the Federal Reserve said Monday that the average yield for one-year Treasury bills, a popular index for changing adjustable rate mortgages, fell to 0.23 percent last week from 0.25 percent the previous week.
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