WASHINGTON >> Inflation at the wholesale level jumped in April by the largest amount in three months, fueled by rising prices of food and energy. Even excluding the volatile energy and food categories, core inflation was up sharply as well, raising concerns about whether inflation is starting to edge higher after being quiet for years.
The Labor Department said Thursday that its producer price index, which measures inflation before it reaches the consumer, rose 0.5 percent in April. That represented a sharp rebound following a 0.1 percent decline in March. It was the largest one-month gain since January.
Number seeking unemployment aid falls
WASHINGTON >> Fewer Americans sought jobless benefits last week, and the number of people collecting unemployment checks fell to the lowest level since 1988. The Labor Department says initial claims for jobless aid fell by 2,000, to 236,000.
Microsoft to upgrade operating system
SAN FRANCISCO >> Microsoft will try to make Windows 10 more versatile with a wave of new features for creating memories, exploring digitally manufactured settings and hopscotching from personal computers to mobile devices. The new “Fall Creators Update” that will be rolled out later this year will be provided for free to 500 million personal computers, smartphones and tablets powered by Windows 10.
China, U.S. agree to trade beef, poultry
WASHINGTON >> China will finally open its borders to U.S. beef, while cooked Chinese poultry is closer to hitting the American market as part of a U.S.-Chinese trade agreement.
Trump administration officials hailed the deal as a significant step in their efforts to boost U.S. exports and even America’s trade gap with the world’s second-largest economy.
The United States would also allow U.S. companies to ship liquefied natural gas to China as part of the bilateral agreement reached following President Donald Trump’s meeting with Chinese President Xi Jinping in April. The agreement covers a number of long-standing barriers in areas ranging from agriculture to energy to the operation of American financial firms in China.
ON THE MOVE
>> Porter McGuire Kiakona and Chow LLP have announced the hiring of Jason Adaniya as an associate attorney in the firm’s condominium and community association section. Adaniya was previously an associate at Myhre & Tsuchida.
>> Central Pacific Bank has appointed John Miller to senior vice president and Special Assets Department manager. Miller has more than 20 years of experience in the financial industry, including serving as vice president and Special Assets officer for American Savings Bank.
>> Atlas Insurance Agency has announced the promotion of Richard Fukeda to senior vice president of Corporate Training/Large Account Support. Fukeda has been with Atlas since 1995. He has served as a Special Account Unit supervisor, Operations director and vice president of Corporate Training and Large Account Support.
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