Riverstone site has new owner
Bliss Development bought the “Riverstone 1” building from Pacific Coast Properties in a $4.1 million transaction that closed earlier this month, company officials said Friday.
Riverstone 1 is located in the Riverstone development between the Spokane River and Northwest Boulevard, in Coeur d’Alene. Bliss Development is owned by Richard Brooke, the chief executive officer of Oxyfresh Worldwide Inc. Oxyfresh occupies the third floor of the Riverstone 1 building.
Other building tenants include law firms, a counseling center, a mining company and a physical therapy practice.
New York
Five-year CD yield hits 4 percent
The average yield on five-year savings certificates of deposit has risen to 4 percent for the first time in nearly four years, Bankrate.com said Friday.
The last time five-year CDs were paying that rate was in July 2002, according to Bankrate.com, a financial information service based in North Palm Beach, Fla.
The yields on savings accounts have been rising steadily since the Federal Reserve began boosting short-term interest rates in June 2004. The Fed is scheduled to meet Tuesday and Wednesday next week, and most analysts expect a further increase.
San Francisco
Google’s S&P tap boosts share price
Google Inc.’s shares surged 7 percent Friday as Wall Street reacted to the company’s impending addition to the Standard & Poor’s 500 index.
S&P announced its decision Thursday to include Google.
Google’s shares soared $23.91 to close at $365.80 on the Nasdaq Stock Market.
The inclusion into the S&P 500 provides Google’s stock with an immediate catalyst because so many large mutual funds are based on the index’s composition. Once a stock is added to the index, money managers typically must buy shares to readjust their portfolios.
Online S-R offers financial data
Readers can now access a wide range of stock market and mutual fund information on The Spokesman-Review’s Web site.
The information includes stock and mutual fund price quotes, market indexes, most-active shares and gainers and loser on all the major exchanges.
To find the market information, go to “News” in the blue column on the left side of The Spokesman-Review’s Web site, at www.spokesmanreview.com, then click the category “Business.”
The online tools are free to current subscribers of The Spokesman-Review or spokesmanreview.com.