Hawaiian Airlines said Friday it will begin offering daily nonstop flights between Sacramento, Calif., and Maui beginning in April on its new 189-seat Airbus A321neo.
The initial flight from Kahului to Sacramento will be April 1 with a 12:45 p.m. departure and an 8:55 p.m. arrival. Flights from Sacramento to Kahului will start April 2 and will leave at 8:30 a.m. and arrive at 11:15 a.m.
Alaska Airlines is the only other carrier to fly between Sacramento and Maui.
Matson increases dividend by a penny to 21 cents
Matson Inc., the state’s largest ocean transportation company, said Friday it is increasing its dividend by 1 cent a share, to 21 cents. It will be paid Sept. 6 to shareholders of record as of the close of business Aug. 2.
The quarterly payout represents an annualized dividend yield of 2.2 percent as of Friday’s close. Matson’s stock ended the day up 23 cents to $38.38.
Citigroup to refund $335M to credit cardholders
NEW YORK >> Citigroup said Friday it plans to refund $335 million to a group of customers who may have been overpaying interest on their credit cards.
In a settlement with the Consumer Financial Protection Bureau, Citi will refund 1.75 million customers in overpaid interest by the end of the year.
Earlier this year Citi disclosed that it had used a flawed methodology in determining whether credit card customers were eligible for an interest rate reduction on their cards.
Consumer spending weak and inflation up in May
WASHINGTON >> U.S. consumers increased their spending just 0.2 percent in May, a disappointing result after two months of much stronger gains. Meanwhile, inflation — as measured by a gauge monitored by the Federal Reserve — rose at the fastest pace in six years.
The Commerce Department said Friday that the tiny rise in spending last month followed much stronger increases of 0.6 percent in March and 0.5 percent in April.
Inflation, by a gauge that is preferred by the Federal Reserve, was up 0.2 percent in May and 2.3 percent over the past 12 months. That is the fastest 12-month pace since 2012.
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ON THE MOVE
>> Metaurus Advisors, a leading innovation and financial technology company, has appointed Michael K. Hirai a senior managing director and partner. He has more than 30 years of asset management experience, including serving as senior vice president of First Hawaiian Bank’s Institutional Advisory Services Division.In 1990 Hirai founded HCM Capital, a fixed income asset management firm, which merged with CIC Asset Management in 2000. The firm was then acquired by Bishop Street Capital Management in 2004, where Hirai served as president, CEO and chief investment officer for 13 years.
