New York mulls shutting Tesla dealerships over Musk ties
Lawmakers, mostly powerless to counteract Trump administration policies, have found that targeting Tesla and Musk can be more effective. Read more
Business
Hawaii, national and international business and economic news.
Some Amazon sellers pull out of Prime Day over Trump tariffs
Some third-party merchants who previously sold China-made goods during Amazon’s premier July shopping event are sitting it out this year or reducing the amount of discounted merchandise they offer. Read more
Risk of global economic recession surges on U.S. tariff shockwaves
Just three months ago, the same group of economists covering nearly 50 economies had expected the global economy to grow at a strong, steady clip. Read more
Megacaps drag Wall Street lower as traders brace for earnings
The tech-heavy Nasdaq led declines, as megacap stocks lost ground. Tesla fell 3.2% and AI darling Nvidia dipped 3.6%. Read more
Consumers in Hawaii prepare for tariffs’ impact
The jaw-dropping prices are bound to increase even more for Hawaii consumers if President Donald Trump’s 145% tariff on Chinese goods and 10% tariff on nearly all foreign imports continue. Read more
Hawaii Career Expo to feature over 100 government, private employers
This week’s Career Expo will provide former federal workers an opportunity to learn about dozens of Honolulu and state of Hawaii agencies that are in the market for skilled employees. Read more
State bill would change oversight of Hawai’i Tourism Authority
At least four conference drafts emerged throughout last week, indicating that Senate and House conferees were engaged in robust discussion. Read more
Boeing poised to resell jets as tariffs hit China trade
Boeing is looking to resell potentially dozens of planes locked out of China by tariffs after repatriating a third jet to the United States in a delivery standoff that drew new criticism of Beijing from U.S. President Donald Trump on Thursday. Read more
Starbucks union rejects 2% annual raise offer as insufficient
“Starbucks’ current offer is insufficient to finalize a deal,” the workers’ union said. Read more
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Wall Street ends higher for the week as trade, earnings boost stocks
The S&P 500 and the Nasdaq were bolstered by gains in the “magnificent seven” group of artificial intelligence-related megacaps, while the blue-chip Dow was more muted. Read more
HART eyes Iwilei, Kakaako properties to condemn for rail
The Civic Center station, scheduled to open to the public by 2031, is slated for construction near Halekauwila and South streets. The station will serve Kakaako, Makiki, Ward and outlying residential areas, the rail agency states. Read more
On the Move: Madhu Lundquist
ALTRES has promoted Madhu Lundquist to chief information officer, succeeding Jeff Oki, who will retire after serving 30 years at the company. Read more
Ex-Tesla DEI leaders urge federal workers to defy Musk
Kristen Kavanaugh and Mike Randolph, speaking in a Reuters interview, said their experiences at Tesla prompted them to write a new book, “Courage over Fear,” which they described as a guide for navigating the “fear-based leadership” that they say they encountered at Musk’s company and that increasingly characterizes other U.S. corporations and government. Read more
Dollar rally unravels as investors shrug off Trump U-turns
The dollar has been the biggest casualty of Trump’s on-off tariffs, dropping 4.8% so far in April, which would mark its largest monthly decline since November 2022. Read more
Wall Street ends higher on tech boost, easing tariff tensions
All three major U.S. stock indexes posted sharp gains, with the “magnificent seven” group of artificial intelligence-related megacaps, boosted by AI-powered software firm ServiceNow’s better-than-expected quarterly results, giving the Nasdaq the edge. Read more
Hawaii auto sales fall amid economic uncertainty
Hawaii auto sales continued to fall this year and badly trailed the rest of the country — with an uncertain future ahead because of President Donald Trump’s economic policies, the Hawaii Automobile Dealers Association reported Wednesday. Read more
Hawaiian Airlines helps buffer Alaska’s $166M loss
Alaska Air Group posted weaker-than-expected first-quarter earnings Wednesday due to negative impacts of macroeconomic factors on air travel demand. Read more
On the Move: Anthology FINN Partners
Anthology FINN Partners has announced the following promotion and new hires. Read more
CEO steps down at Discord, the social chat app
Discord is in talks to go public as early as this year, and was valued by private investors in 2021 at roughly $15 billion. Read more
Wall Street ends higher on hopes of trade war de-escalation
All three major U.S. stock indexes pared gains by the closing bell. Read more
Kennedy calls sugar poison, pushes ban on food dyes by 2026
Kennedy’s comment came during a highly publicized news conference where he also asserted that he has “an understanding” with major food manufacturers to remove petroleum-based food colorings from their products by 2026. Read more
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