Business News

A Second Down Morning

Cascade Natural Gas has filed for a natural gas rate increase. It would increase residential customers’ monthly bill by an average of $2.07 a month. That is a 2.76% overall increase. The proposed increase for each rate class would be; residential 4.1%, commercial no increase, industrial 9.2% and transportation 6.8%.  Cascade Natural Gas is a subsidiary of MDU Resources also the owners of Knife River Construction. (Bend Bulletin)
Total mortgage applications fell 3.4% this week. Total applications are 14% higher than one year ago. Refinance apps fell 6% for the week, but are 15% higher than one year ago. Applications to purchase a home were flat for the week but 13% higher than a year ago. The 30-year fixed-rate mortgage rate is 3.87%. (Mortgage Bankers Association)
Anheuser-Busch InBev, owners of Bends 10 Barrel Brewing, saw profits decline to $844 million for the quarter, down from $2.3 billion a year ago.  Lower profits were mostly due to weak sales in Brazil. (CNBC)
Royal Dutch Shell first-quarter profits plunged 58%. Sales fell 89%.  Shell forecast capital investments 36% less than 2014 levels. (AP)
MSCI International Index is down 0.84%.
Oil is up 31 cents at $43.98 a barrel.
Gold is down $10 at $1282 a Troy ounce.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.

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