Walmart’s strong forecast sparks stock surge to record high
Some U.S. retailers in recent weeks have fanned concerns that consumer spending is waning, but behemoth Walmart is not one of them. Read more
Business
Hawaii, national and international business and economic news.
FDA approves Amgen drug for small cell lung cancer
Patients in the study lived for a median of 14.3 months, compared with a typical survival rate of about five months. Read more
GameStop and AMC tumble as meme stocks rally deflates
Shares of the videogame retailer GameStop tumbled 30% to close at $27.67 after jumping as high as $64.83 on Tuesday. Read more
U.S. blocks imports from 26 Chinese firms amid Uyghur labor concerns
The companies are the latest additions to the Uyghur Forced Labor Prevention Act Entity List. Read more
Dow tops 40,000, world stocks hit record amid rate cut hopes
U.S. jobless claims fell in the latest week and figures showed U.S. import prices increased 0.9% last month. Read more
Why is car insurance so expensive?
Car insurers are still raising prices steeply: The price of motor vehicle insurance rose more than 22% in the year through April, the fastest pace since the 1970s. Read more
Musk’s Neuralink faces long-standing wire problems, sources say
The FDA declined to comment on whether it was aware of the issue or its possible significance. Read more
Cirque du Soleil’s Hawaii-themed ‘Auana set for December
Sal Salangsang plays a comedic trickster in ‘Auana, the new Cirque du Soleil show slated to debut Dec. 15 in Waikiki. Read more
Honolulu planning panel considers next step on landfill alternative
The Planning Commission will have until June 3 to issue its final written decision. Read more
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On the Move: Gaven Sugai and Sara Maripuu
Kupu, Hawaii’s leading conservation and youth education nonprofit organization, has announced the addition of the following members to its team. Read more
Japan’s economy skids, clouding BOJ’s rate hike plans
Japan’s economy fell faster than expected in the first quarter as the weak yen continued to batter consumers, throwing a fresh challenge to the central bank’s push to get interest rates further away from near zero. Read more
SoftBank Corp aims to help workers by ‘softening’ angry customer calls with AI
Dealing with irate customers can be extremely stressful for call centre workers but Japan’s SoftBank Corp thinks it has a solution: artificial intelligence-enabled software that softens the tone of customers’ voices. Read more
U.S. charges two brothers with novel $25M cryptocurrency heist
An indictment charged them with conspiracy to commit wire fraud, wire fraud, and conspiracy to commit money laundering. Read more
How Boeing could face the criminal prosecution it avoided in 2021
Boeing failed to “design, implement, and enforce a compliance and ethics program” to prevent violations of U.S. fraud laws, the Justice Department said in a letter. Read more
Wall Street boasts record closes amid latest inflation data
The blue-chip Dow also boasted a record closing level and drew closer to the 40,000 milestone. All three of Wall Street’s major indexes hit intraday records. Read more
U.S. consumer inflation resumes downward trend
Hopes of the Federal Reserve starting its easing cycle this year were further bolstered by other data today showing retail sales were unexpectedly flat last month. Read more
Inside Tesla’s Supercharger staff firings
The departures have upended a network widely viewed as a signature Tesla achievement and a key driver of its EV sales. Read more
Southwest marks fifth year of Hawaii service
Southwest Airlines marked its fifth anniversary of Hawaii service with “Hawaii Heart Beats,” a program and concert the carrier said focused “on connecting the people of Hawaii to one of the things that is important in their lives — music.” Read more
Tech View: Avoid the echo chamber by being truly informed
Once upon a time, a social media company (whose name might start with “F”) got the idea that if you put information in front of people that was similar to what they had looked at in the past, their engagement in your app would increase. Read more
On the Move: Hannah Watanabe
The Hawaii Youth Symphony has promoted Hannah Watanabe to programs director, following a three-year tenure as the organization’s programs manager. Read more
Airlines forecast record 2024 summer travel, up 6.3% over 2023
Airlines for America said Tuesday that U.S. carriers plan to fly more than 26,000 daily flights this summer, up nearly 1,400 over 2023, or 5.6%, when they carried 255 million passengers. The summer travel season forecast is for June 1 to Aug. 31. Read more
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Walmart’s strong forecast sparks stock surge to record high
FDA approves Amgen drug for small cell lung cancer
