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WASHINGTON >> Orders to U.S. factories fell for the second straight month in May, a potentially worrisome sign for American industry.
The Commerce Department reported Wednesday that factory orders declined 0.8 percent in May, the biggest drop since last November. They fell 0.3 percent in April.
Excluding the volatile transportation sector, factory orders fell 0.3 percent in May. Orders for civilian aircraft plunged 11.6 percent. Computer orders slid 2.1 percent.
Rio Olympics asks IOC for help with $40M debt
RIO DE JANEIRO >> Almost a year after the Rio de Janeiro Olympics, Brazilian organizers are asking for help from the International Olympic Committee to satisfy creditors who are still owed about $40 million.
Mario Andrada, a spokesman for the Rio organizing committee, said Brazilian Olympic Committee President Carlos Nuzman would meet officials next week at IOC offices in Switzerland. However, the IOC was cautious in a statement Wednesday to The Associated Press. Contractually, host cities and countries are obligated to pay Olympic debts.
The Rio Olympics were battered by organizational problems and variable attendance, while the country faced corruption scandals and the worst recession in decades.
ON THE MOVE
Chun Kerr LLP has announced that Nathaniel A. Higa is a partner with the law firm. His responsibilities include advising clients in tax controversies and commercial litigation. He will also represent clients in the 9th U.S. Circuit Court of Appeals as well as the Hawaii state and federal courts. Before Higa joined the law firm he was an extern with 9th Circuit Judge Sandra Ikuta. He also served in two other Honolulu law firms.
Bank of Hawaii has announced that Christopher Marumoto has been promoted to vice president of client services training and operations manager from assistant vice president in the Client Services Administration. Marumoto served seven years in operations training and continues to manage training for agents in the Client Services Division. Marumoto also worked two years as a consumer banking representative at Times Mililani and Safeway Kahului in-store branches before becoming a senior training instructor at Training & Support in 2010.