Summit Bank expanding

This week the focus will likely be on earnings. Corporate earnings are likely to overshadow the Federal Reserve amid the busiest week of earnings season with nearly 40% of the S&P 500 reporting. The Fed holds their two-day monetary policy meeting with no rate hike expected. The U.S. economic calendar includes housing, manufacturing, durable goods,…

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It took more than 17 years

Portland’s ban on new bulk fossil-fuel terminals has been rejected by the state Land Use Board of Appeals. LUBA said the zoning ordinance was an unconstitutional restraint on interstate commerce. The ordinance banned new storage facilities with capacities greater than 2 million gallons and prohibited existing terminals from expanding. (PBJ) Sears announced the launch of…

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It’s the Summer doldrums

Chinese gross domestic product came in at +6.9% year over year, above expectations, while industrial production and retail sales came in at +7.6% and 11.0%, respectively. (LPL Research) It’s the Summer doldrums. Trading volume has been very light lately. It was the second-lowest volume day of the year in the U.S. on Monday, as just…

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Business inventories increased

Pizza Hut, owned by Yum Brands, plans to hire 14,000 delivery drivers by the end of 2017, or about 3,000 a month. The chain is adding a new technology system to improve delivery reliability and accuracy. (CNBC) Business inventories increased 0.3% in May. At May’s sales pace, it would take 1.38 months for businesses to…

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An Oregon business icon has passed

An Oregon business icon has passed. Don Tykeson a pioneer in Oregon’s broadcasting industry was 90. At one time, he was the owner of Liberty Broadcasting in Eugene and until three years ago owned Bend Broad Band in Bend. Tykeson, was also a founding director of C-Span and grew up on a farm near Newberg….

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Industrial production rose in June

Microsoft is closing its Wilsonville Oregon facility where it builds giant touch-screen computers. The company will eliminate 61 jobs in September and another 63 in the following months. (OregonLive) The Consumer Price Index was unchanged in June as the cost of gasoline and mobile phone services declined. In the last 12 months, the CPI is…

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