Business | page 14

FRIDAY, JULY 1, 2016

U.S. income gap widened last year as top 1 percent gained most 

Financial inequality became even wider in the United States last year, with average income for the top 1 percent of households surging 7.7 percent to $1.36 million. Income for the richest sliver rose twice as fast as it did for the remaining 99 percent of households, according to an updated analysis of tax data by Emmanuel Saez, an economics professor at the University of California, Berkeley.

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Nanci Brum, 62, of Post Falls, works in the heat treat department at Buck Knives in Post Falls on Wednesday, May 20, 2009. Buck Knives  launched an initiative called the “American Commitment,” with the primary focus on making as many knives as possible in the Post Falls plant and reducing offshore outsourcing, which at its peak totaled half of all knives. (Kathy Plonka / The Spokesman-Review)

Domestic outsourcing wipes out middle class jobs, data show

Globalization and the offshoring of U.S. manufacturing jobs to China and other cheap-labor countries are commonly blamed for driving down the wages and living standards of ordinary American workers, but there is another, less-known factor behind the shrinking middle class: domestic outsourcing.

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Clockwise from upper left: A customer receiving a facial massage at an Elizabeth Arden Red Door Spa in New York; Revlon lipstick displayed at a Brooklyn pharmacy in New York; the LinkedIn logo on a screen at the post where it trades on the floor of the New York Stock Exchange, and the Microsoft Visitor Center in Redmond, Wash. (Mark Lennihan, Richard Drew, Ted S. Warren / Associated Press)

As desire to acquire mounts, so does risk of losses

The word suggests compassion, benevolence. It even sounds nice. Goodwill. Mankind needs more of it. But in the financial world, there may be far too much already. Goodwill is the accounting term for the premium that companies pay when they buy each other, over the value of the actual assets being purchased, such as factories, products in a warehouse and office equipment.

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Walmart Pay expanded to Washington state stores

Starting Thursday, Wal-Mart customers in Washington state will be able to pay for their purchases using the Walmart app on their smartphones. The feature, called Walmart Pay, works with any iOS or Android smartphone that can download the Walmart app, ...

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Hershey rejects kiss from chocolate competitor

NEW YORK – Hershey on Thursday rejected a takeover offer from Oreo maker Mondelez that would bring some of the world’s best known cookies and chocolates under one company. It confirmed receiving a preliminary offer from Mondelez for a mix ...

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The Dirt

Here's the dirt

See the latest new construction, business openings and closures and progress on ongoing projects here.


Parting Shot — 7.27.16

People play Pokemon Go near the Atomic Bomb Dome at Hiroshima Peace Memorial Park in Hiroshima, Japan. Pokemon Go” players are descending on an atomic bomb memorial park in Hiroshima, ...

An editor’s mea culpa

Hillary Clinton made history Tuesday evening when she became the first woman nominated for the presidency by a major party. Our headline and story in today's print editions made it ...

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Saving for the future

sponsored According to two 2015 surveys, 62 percent of Americans do not have enough savings to handle an unexpected emergency, much less any long-term plans.



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