Hawaii Legislature pumps up nonprofit grant funding
Hawaii nonprofits stand to receive a lot more grant funding from the Legislature this year due to expectations of federal aid cuts by President Donald Trump. Read more
Business
The latest business, finance and economic news from Hawaii, across the nation and around the world. Coverage includes airlines, businesses and more.
State unemployment rate for March dips to 2.9%
Hawaii’s unemployment rate keeps hovering around multiyear lows even as job and funding cuts by the Trump administration continue to roil the U.S. economy. Read more
On the Move: Ryan K.S. Lambert and Lukas Kaplan
Honolulu architecture firm AHL has promoted Ryan K.S. Lambert and Lukas Kaplan to associate from project manager. Read more
Trump to extend TikTok deadline if no deal reached by June 19
“I would … I’d like to see it done,” Trump told the NBC News program “Meet the Press with Kristen Welker” in an interview taped on Friday at Trump’s Mar-a-Lago estate in Palm Beach, Florida, that is airing across the United States on Sunday. Read more
Hawai‘i Tourism Authority under scrutiny amid allegations of hostile work environment
Former interim HTA president and CEO Daniel Naho’opi’i sent a resignation letter on March 19 to the HTA board alleging that the work environment was “at times, outright hostile.” Read more
Warren Buffett to step down as Berkshire CEO at year’s end
Buffett, 94, also offered a fervent defense of trade today, saying tariffs should not be a “weapon” and the United States would be better off if other countries shared its prosperity. Read more
Hawaii island bike-share ridership climbs more than 10%
Cyclists took 12,463 rides on rented bikes from HIBIKE kiosks across Hawaii island in 2024, up over 10% from 11,305 rides in 2023. Read more
Trump ends tariff exemption, prompting retail exits from U.S.
The removal of “de minimis” — duty-free treatment of e-commerce packages worth less than $800 — for products originating from China and Hong Kong exposes those goods to tariffs of 145% on most Chinese goods following President Donald Trump’s decision last month. Read more
Lawmakers urge SEC to delist Alibaba, Chinese companies
The chair of the House China committee, John Moolenaar, and the chair of the Senate committee on ageing, Rick Scott, wrote to SEC chair Paul Atkins to take action against 25 Chinese groups, listed on U.S. exchanges, FT said. Read more
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Wall Street rallies on strong economic data, possible U.S.-China talks
Beijing said it is evaluating an offer from Washington to hold talks over President Donald Trump’s 145% tariffs, which he had imposed on Chinese imports. Read more
U.S. labor market resilient ahead of tariff turbulence
The Labor Department’s closely watched employment report, published today, which also showed the unemployment rate held steady at 4.2% last month, helped to assuage fears that the economy was nearing recession after gross domestic product contracted in the first quarter amid a tariff-induced flood of imports. Read more
Trump signs executive order to end federal funding for NPR, PBS
Trump instructed the Corporation for Public Broadcasting, which funds public broadcasters in the United States, to end federal funding for NPR and PBS, to the extent allowed by law. Read more
Hawaii sues big oil companies over climate change
Hawaii sued major oil companies in state court Thursday, accusing them of a “successful campaign of climate deception” that has led to devastating impacts in the islands. Read more
Work begins on affordable-housing project in Lihue
Rents at Uahi Ridge were established in compliance with federal guidelines aimed to support households earning 50% and 60% of the area median income. Read more
GM cuts 2025 profit forecast, expects up to $5B tariff impact
CEO Mary Barra told shareholders in a letter that the company would maintain dialogue with the Trump administration on trade and other policies as they evolve. Read more
Apple estimates tariffs will add $900M to costs in June quarter
While the results were better than analysts had expected, investors are focused on how tariff concerns will play out in the coming quarter. Read more
White House rejects Chamber plea for small business tariff relief
The U.S. Chamber of Commerce, in a letter to President Donald Trump’s administration, asked for small companies to be excluded from tariffs if they can show it would harm U.S. workers and for products that cannot be made in the United States or are not readily available. Read more
Kohl’s fires new CEO for personal relationship with vendor
Buchanan engaged in transactions with this person’s company on “highly unusual terms,” Kohl’s said in a filing, and also caused the company to agree to a multi-million-dollar consulting agreement with a team that included this person he was involved with. Read more
Farm agency to require DOGE approval for some loans
Farmers rely heavily on loans to pay for operational expenses, including seeds, fertilizers and pesticides, or to buy land. Read more
Tariff fears extend to Hawaii shipping
Looming tariff hikes that have already begun to affect shipping routes and consumer behavior could have outsized effects in Hawaii, where nearly all goods must be imported — many of them from China. Read more
On the Move: Brenda Pa and Tyler Hodson
Atlas Insurance Agency has promoted Brenda Pa to senior account manager in the firm’s AOAO unit and Tyler Hodson to associate account executive, surety. Read more
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More Business
Hawaii Legislature pumps up nonprofit grant funding
State unemployment rate for March dips to 2.9%
On the Move: Ryan K.S. Lambert and Lukas Kaplan
Trump to extend TikTok deadline if no deal reached by June 19
