Business News & Headlines | Honolulu Star-Advertiser

Affordable rental units open in Kapolei

Victoria Budiono — Mon, 23 Dec 2024 10:05:00 +0000

Parkway Village at Kapolei, a major affordable rental housing initiative under the Low-Income Housing Tax Credit Program, celebrated its grand opening Tuesday, marking a significant milestone in addressing Oahu’s housing crisis. The first 167 units are now available to house individuals and families.

State’s jobless rate holds for sixth straight month

Dave Segal — Mon, 23 Dec 2024 10:05:00 +0000

Hawaii’s unemployment rate hasn’t budged in half a year.

Starbucks workers expand strike in U.S. cities, including New York

Reuters — Sun, 22 Dec 2024 22:05:00 +0000

Starbucks workers have expanded their strike to four more U.S. cities, including New York, the union representing over 10,000 baristas said late on Saturday.

Hawaii to start a series of income tax cuts in 2025

None — Sat, 21 Dec 2024 10:05:00 +0000

Hawaii taxpayers should have a happy new year as the first of a series of historic tax cuts takes effect in January.

Hawai‘i Tourism Authority seeks 2-year deal with NFL’s Rams

Allison Schaefers — Sat, 21 Dec 2024 10:05:00 +0000

The Hawai‘i Tourism Authority staff is pursuing a two-year partnership with the Los Angeles Rams that could start as early as the 2025-2026 season and is expected to cost more than $3.86 million.

Latest renderings of new Aloha Stadium envision entertainment wonderland

None — Sat, 21 Dec 2024 10:05:00 +0000

The latest renderings for the New Aloha Stadium Entertainment District project were shown Thursday to the Aloha Stadium Authority by representatives of development group Aloha Halawa District Partners.

Democrat accuses GOP of protecting Musk’s Chinese investments

Reuters — Sat, 21 Dec 2024 02:00:00 +0000

WASHINGTON >> The top Democrat on the House of Representatives Appropriations Committee said today that Republicans in Congress were protecting Elon Musk’s Chinese investments by scrapping provisions restricting U.S. investments.

Stocks rally after inflation data but close lower for the week

Reuters — Sat, 21 Dec 2024 00:00:00 +0000

NEW YORK >> U.S. stocks rallied to close out the trading week today after two lackluster sessions as a cooler-than-expected inflation report and comments from Federal Reserve officials eased worries about the path of interest rates.

New weight-loss treatment becomes first FDA-approved drug for sleep apnea

Reuters — Fri, 20 Dec 2024 23:40:00 +0000

The Food and Drug Administration today approved Eli Lilly’s weight-loss treatment, Zepbound, for obstructive sleep apnea, making it the first drug greenlighted to directly treat patients with the common sleeping disorder.

Consumer spending solid; inflation showing progress as year ends

Reuters — Fri, 20 Dec 2024 21:20:00 +0000

WASHINGTON >> U.S. consumer spending increased in November amid strong demand for a range of goods and services, underscoring the economy’s resilience, which saw the Federal Reserve this week projecting fewer interest rate cuts in 2025 than it had in September.

Starbucks workers’ union goes on strike in 3 major cities

Reuters — Fri, 20 Dec 2024 19:00:00 +0000

Some members of the workers’ union representing over 10,000 baristas at Starbucks began a five-day strike at stores in Los Angeles, Chicago, and Seattle starting today, citing unresolved issues over wages, staffing and schedules.

Bird flu drives egg prices to all-time highs before Christmas

Reuters — Fri, 20 Dec 2024 16:30:00 +0000

U.S. wholesale egg prices are shattering records as an accelerating outbreak of bird flu in laying hens slashes supplies while shoppers buy more to bake Christmas cookies and other holiday treats.

United flight attendants rally at Honolulu airport before travel rush

Allison Schaefers — Fri, 20 Dec 2024 10:05:00 +0000

What do United Airlines flight attendants want for Christmas? A new contract, especially one that pays historic ground benefits.

Big Isle judge picks contractor to demolish house built on wrong lot

None — Fri, 20 Dec 2024 10:05:00 +0000

A contractor has been chosen to demolish a house built on the wrong lot in Hawaiian Paradise Park.

Starbucks workers’ union plans to strike in 3 U.S. cities

Reuters — Fri, 20 Dec 2024 04:45:00 +0000

The workers’ union representing more than 10,000 baristas at Starbucks said its members will strike at stores in Los Angeles, Chicago, and Seattle on Friday morning, citing unresolved issues over wages, staffing and schedules.

FedEx to spin off its freight trucking business

Reuters — Fri, 20 Dec 2024 00:00:00 +0000

FedEx announced the much-anticipated spinoff of its freight trucking division today, as it restructures its operations to focus on its core delivery business.

Amazon workers strike at seven U.S. facilities

Reuters — Thu, 19 Dec 2024 18:00:00 +0000

NEW YORK/SAN FRANCISCO >> Amazon.com workers at seven U.S. facilities walked off the job early today during the holiday shopping rush as workers protest what they say is the retailing giant’s unfair treatment of its employees.

Powell says Fed cannot hold bitcoin, not seeking to change that

Reuters — Thu, 19 Dec 2024 00:03:00 +0000

NEW YORK >> Federal Reserve Chair Jerome Powell said on Wednesday the U.S. central bank has no desire to be involved in any government effort to stockpile large amounts of bitcoin.

Apple hits out at Meta’s numerous interoperability requests

Reuters — Thu, 19 Dec 2024 00:00:00 +0000

BRUSSELS >> Apple today hit out at Meta Platforms, saying its numerous requests to access the iPhone maker’s software tools for its devices could impact users’ privacy and security, underscoring the intense rivalry between the two tech giants.

U.S. to extend airbag probe rather than require vehicle recall

Reuters — Wed, 18 Dec 2024 23:35:00 +0000

WASHINGTON >> The National Highway Traffic Safety Administration said on Wednesday it will not seek an immediate recall of airbag inflators in about 50 million U.S. vehicles assembled by 13 automakers and instead will conduct further investigation.

Amazon workers to strike at multiple U.S. warehouses

Reuters — Wed, 18 Dec 2024 22:20:00 +0000

Thousands of Amazon.com workers will walk off the job on Thursday at 6 a.m. ET (1 a.m. Hawaii time), in the crucial final days of the holiday season, after union officials said the retailer failed to come to the bargaining table.

Wall Street tumbles over 1,100 points on Fed projection

Reuters — Wed, 18 Dec 2024 21:40:00 +0000

NEW YORK >> Wall Street closed sharply lower today, with the Dow falling over 1,100 points after the U.S. Federal Reserve delivered a rate cut as expected but signaled it will ease the pace of further cuts in the coming year.

Musk: Congress should not vote to extend funding

Reuters — Wed, 18 Dec 2024 21:00:00 +0000

WASHINGTON >> Elon Musk, tapped by President-elect Donald Trump to prune the federal government, today pressured Republicans in Congress to reject a stopgap spending bill, which would trigger a partial government shutdown.

Fed lowers key rate quarter-point; sees slower pace of cuts

Reuters — Wed, 18 Dec 2024 20:08:00 +0000

WASHINGTON >. The U.S. Federal Reserve cut interest rates a quarter percentage point today and signaled it will slow the pace at which borrowing costs fall any further, given a relatively stable unemployment rate and little recent improvement in inflation.

Supreme Court to hear TikTok’s attempt to stop U.S. ban

New York Times — Wed, 18 Dec 2024 18:33:00 +0000

WASHINGTON >> The Supreme Court agreed today to hear TikTok’s challenge to a law that could ban its U.S. operations, putting the case on an exceptionally fast track, culminating in oral arguments at a special session Jan. 10.

Japan breaks annual visitor record in 11 months

Reuters — Wed, 18 Dec 2024 09:00:00 +0000

TOKYO >> Japan set a new annual record for visitor arrivals with one month to spare, official data showed on Wednesday, as the weak yen helped propel the nation’s tourism boom.

Starbucks workers’ union authorizes potential U.S. strike

Reuters — Tue, 17 Dec 2024 20:33:00 +0000

The workers’ union representing more than 10,000 Starbucks baristas said they have authorized a potential strike, ahead of this year’s final round of bargaining talks with the coffee giant on Tuesday.

Japan’s Honda and Nissan to begin merger talks, Nikkei reports

Reuters — Tue, 17 Dec 2024 19:43:00 +0000

Japanese auto giants Honda Motor and Nissan Motor will start negotiations to merge as they face growing competition from bigger global electric vehicle makers, the Nikkei newspaper reported on Tuesday.

Gov. Josh Green’s state budget accounts for tax cuts, fire settlement

Dan Nakaso — Tue, 17 Dec 2024 10:06:00 +0000

Gov. Josh Green has unveiled his proposed state budget for the next two fiscal years, which accounts for record tax cuts for residents that begin in January, the state’s $800 million share of a proposed $4.037 billion settlement to settle lawsuits in the aftermath of the 2023 Maui wildfires and includes likely raises for unionized workers.

On the Move: Dec. 17

None — Tue, 17 Dec 2024 10:05:00 +0000

Anthology Finn Partners has announced the following promotions and new hire:

Pohoiki Bay dredging projected to begin in February

None — Tue, 17 Dec 2024 10:05:00 +0000

Puna residents and lawmakers are eager to get boats back in the water when the Pohoiki Boat Ramp reopens in late 2025.

TikTok turns to Supreme Court in last-ditch bid to avert ban

Reuters — Mon, 16 Dec 2024 20:50:00 +0000

WASHINGTON >> TikTok made a last-ditch effort today to continue operating in the United States, asking the Supreme Court to temporarily block a law intended to force ByteDance, its China-based parent company, to divest the short-video app by Jan. 19 or face a ban.

Bitcoin rallies past $107,000, hopes grow for strategic reserve

Reuters — Mon, 16 Dec 2024 18:30:00 +0000

Bitcoin’s record rally topped $107,000 today after President-elect Donald Trump reiterated that he plans to create a U.S. bitcoin strategic reserve similar to its strategic oil reserve, stoking the enthusiasm of crypto bulls.

Trump, SoftBank CEO announce $100 billion U.S. investment

Reuters — Mon, 16 Dec 2024 17:30:00 +0000

PALM BEACH, Florida >> President-elect Donald Trump, with SoftBank Group CEO Masayoshi Son at his side, announced today that SoftBank would invest $100 billion in the U.S. over the next four years in what would be a boost to the U.S. economy.

Trump team eyes reversal of Biden EV, emissions policies

Reuters — Mon, 16 Dec 2024 16:30:00 +0000

Incoming President Donald Trump’s transition team is recommending sweeping changes to cut off support for electric vehicles and charging stations and to strengthen measures blocking cars, components and battery materials from China, according to a document seen by Reuters.

Lamborghini delays first EV launch to 2029 as market not ready

Reuters — Mon, 16 Dec 2024 16:00:00 +0000

SANT’AGATA BOLOGNESE, Italy>> Italy’s Lamborghini will always make cars in Italy as it plans to launch its first electric model only in 2029, amid a market for luxury sports cars that is not ripe for full electrification, CEO Stephan Winkelmann said today.

UH partnership will target disparities in cancer outcomes

Allison Schaefers — Mon, 16 Dec 2024 10:06:00 +0000

The University of Hawaii Cancer Center and the John A. Burns School of Medicine today are launching a historic partnership called Ka ‘Umeke Lama, which aims to erase the disparities that affect cancer outcomes and ensure all people have access to high-quality cancer care, regardless of background or geography.

On the Move: Kainoa Casco

None — Mon, 16 Dec 2024 10:04:00 +0000

Maui Land &Pineapple Co. has named Kainoa Casco vice president of land productivity and asset management. Casco joins with more than 15 years’ experience in sustainability, renewable energy and responsible development.

Queen’s plans new hospital in Kailua-Kona with helipad, housing

Dan Nakaso — Sun, 15 Dec 2024 10:06:00 +0000

The Queen’s Health Systems plans to build an 80-bed hospital next to the Kailua-Kona Costco on Hawaii island that would include a helipad to cut travel time to its trauma center on Oahu and, critically, construct adjacent, below-market-rate housing to recruit and retain some of the estimated 300 hospital staff, nurses and doctors.

On the Move: Michelle Bartell and Anahita Mostafavi

Michelle Ramos — Sun, 15 Dec 2024 10:04:00 +0000

Aloha United Way has named Michelle Bartell its new chief executive officer effective Jan. 1. Bartell currently serves as senior vice president and director of community advancement, and will succeed CEO John Fink, who will retire.