In brief: Horizon dropping flights to Boise

Horizon Air will terminate service between Spokane and Boise Jan. 4, spokesman Dave Russo said Friday.

The twice-a-day flights have been unprofitable for some time despite schedule adjustments intended to make them more attractive to business travelers, he said.

Russo said travelers who had flights booked after Jan. 4 can get full refunds.

Horizon will continue to serve Boise by way of Seattle and Portland, he said.

Southwest Airlines also serves the Spokane-Boise market.

Bert Caldwell

UPS to increase rates for 2010

Atlanta – UPS Inc., the world’s largest shipping carrier, is hiking 2010 rates for ground packages by an average of 4.9 percent.

The company, based in Atlanta, said Friday there also will be an average net rate increase of 4.9 percent next year on all air express and U.S. origin international shipments.

The new rates take effect on Jan. 4.

Rival FedEx Corp., based in Memphis, Tenn., said in September that it will raise express shipping rates an average of 5.9 percent in January.

Associated Press

Mexico emerges from recession

Mexico City – Mexico’s economy grew 2.93 percent in the third quarter, the government announced Friday, marking an end to the recession.

Mexico has suffered a severe economic crisis for more than a year, but the new figures released Friday confirm what officials have been saying in recent weeks: The rebound has begun.

The gross domestic product was 6.2 percent lower for July through September 2009 than it was for the same period in 2008.

Associated Press

Another Florida bank shut down

Washington – Florida banking regulators on Friday shut down Commerce Bank of Southwest Florida, marking the 124th U.S. bank to succumb this year to the struggling economy and rising loan defaults.

The Federal Deposit Insurance Corp. took over the small bank in Fort Myers, Fla., with $79.7 million in assets and $76.7 million in deposits. Central Bank, based in Stillwater, Minn., agreed to assume the deposits and assets of Commerce Bank of Southwest Florida.

It was the 12th failure of a Florida bank this year. Failures also have been concentrated in California, Georgia and Illinois.

Associated Press