Cancer clinic to open Oct. 7
Cancer Care Northwest is opening a new clinic and surgery center in Spokane Valley.
The new facility at 1204 N. Vercler Road will have medical and surgical oncology, radiation services and room for administrators in a neighborhood setting.
The building will be 38,000 square feet.
CCNW has other clinics, including those downtown and in north and south Spokane.
To assist the move, CCNW’s current Valley Office on Mission Avenue will be closed Oct. 4 and will reopen at the new location Oct. 7. Cancer Care Northwest will be making accommodations for patients who need care on Oct. 4.
U.S. factory production rises
WASHINGTON – U.S. factories increased output in August by the most in eight months, helped by a robust month at auto plants. The gains are a hopeful sign that manufacturing could help boost economic growth in the second half of the year.
Manufacturing production rose 0.7 percent last month from July, the Federal Reserve said Monday. That’s the biggest increase since December. It followed a 0.4 percent decline in July.
Factory output is the largest component of industrial production. The strong gain adds to other signs that manufacturing could be rebounding from a weak start this year.
Gold mine partner pulls out
JUNEAU, Alaska – One of the partners in a massive and contentious proposed gold and copper mine in Alaska is pulling out, raising questions about the future of the project.
London-based Anglo American PLC announced Monday that a subsidiary, Anglo American (US) Pebble LLC, is withdrawing from the Pebble Mine project, leaving Canada-based Northern Dynasty Minerals Ltd. as the sole owner.
Anglo’s subsidiary had spent about $540 million on the Pebble project through June, Northern Dynasty said in a release. To retain its 50 percent interest in the project, Anglo American would have been obligated to fund $1.5 billion in project costs through permitting and construction, Northern Dynasty has said.
Pandora to issue new shares
OAKLAND, Calif. – Internet radio giant Pandora Media Inc. said Monday it will issue new shares in a move that could raise three times as much investor cash as its initial public offering two years ago. The move will refresh the company’s dwindling cash reserves and give it more flexibility to invest or make acquisitions as it settles under its new CEO.
Investors panned the move, in part because it will dilute any profits for existing shareholders. Shares fell $1.14, or 4.8 percent, to $22.85 in after-hours trading Monday. The stock has more than doubled in the year to date.
The new share offering, targeted to raise more than $250 million in cash reserves, comes just days after the company said Wednesday that former aQuantive head Brian McAndrews is its new chief executive, replacing Joe Kennedy, who is retiring.
Rhapsody lays off staff
SEATTLE – Music streaming service Rhapsody on Monday laid off 15 percent of its staff and said its president, Jon Irwin, is stepping down. The company also announced investment firm Columbus Nova Technology Partners has become a major shareholder.
The company also said it had hired Ethan Rudin, a former Starbucks strategy executive, as Rhapsody’s chief financial officer, replacing Adi Dehejia.