Territorial repurchases 400,000 shares

The parent of Territorial Savings Bank said Thursday it has completed its sixth repurchase program.

Territorial Bancorp Inc. repurchased 400,000 shares of its common stock at an average price of $23.46 per share.

The company announced the buyback after the stock market closed. Territorial shares finished the day down 42 cents, or 1.5 percent, at $28.18.

Walmart to begin own mobile pay system

NEW YORK >> Wal-Mart Stores Inc., the world’s largest retailer, said it’s launching its own mobile payment system that will allow shoppers to pay with any major credit or debit card or its own store gift card through its existing smartphone app at the cash register.

It started testing the new payment feature Thursday at its stores in the Bentonville, Ark., area, where the retailer is based. It plans to launch the payment system, called Walmart Pay, in all 4,500-plus U.S. stores early next year.

Yahoo CEO gives birth to twin girls

SAN FRANCISCO >> Yahoo CEO Marissa Mayer has followed a major business announcement with some big personal news. She gave birth to twin girls Thursday, the day after unveiling plans to hatch a new company to control Yahoo’s Internet business. This is the second time that the 40-year-old Mayer has given birth since Yahoo hired her as CEO in July 2012.

Americans see household wealth plummet

WASHINGTON >> The stock market’s sharp decline in August and September took its toll on Americans’ finances in the third quarter: Household net worth dropped for the first time in four years.

The Federal Reserve said Thursday that Americans’ stock and mutual fund portfolios plunged $2.3 trillion in the July-September quarter. That far outweighed a $482 billion increase in home values. Overall, household net worth fell to $85.2 trillion from $86.4 trillion in the second quarter.

World economic growth slows to 2.4%

UNITED NATIONS >> The world economy stumbled in 2015, with growth estimated at just 2.4 percent this year following a nearly 60 percent drop in oil prices and a more than 20 percent fall in commodity prices in the past 18 months, according to a U.N. report released Thursday.

The report on the World Economic Situation and Prospects 2016 said many developing and former Soviet bloc countries suffered a broad slowdown to the weakest pace since the global financial crisis in 2008. The growth rate compares with 2.6 percent in 2014.

On The Move

>> HomeStreet has promoted Mona Choy-Beddow to senior vice president and region manager in retail banking from first vice president and retail banking manager. She oversees the bank’s Honolulu branch and has served HomeStreet for 16 years, with more than 25 years of banking and management experience.

>> Aqua-Aston has announced the following new promotions: Jeff Caminos to vice president of operations from director of operations; Robin Harlow to vice president of sales from senior director of sales; Cathy Mak to vice president of finance from associate vice president of financial reporting and planning; and Keith York to vice president of revenue and distribution from senior director of revenue and distribution.

Ship Ahoy!

Today’s ship arrivals and departures: