West Coast ports brace for imminent slowdown amid tariff turmoil
It takes about two weeks for vessels to travel to the West Coast from China — about how long ago the tariff escalations between the United States and China kicked in. 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.
Honolulu City Council scrutinizes empty-homes tax
The City and County of Honolulu’s $500,000 Ernst & Young LLP study over a proposed empty-homes tax measure asserts the city could garner tens of millions of dollars annually in new revenues. Read more
On the Move: Aimee Lorenzo
Outrigger Hospitality Group has hired Aimee Lorenzo as director of human resources at Outrigger Kauai Beach Resort & Spa. Read more
White House accuses Amazon of ‘hostile act’ displaying tariff costs
The Seattle retailer spent a chaotic morning denying a report from Punchbowl News that it planned to display prices showing tariffs’ impact on Amazon.com. It acknowledged it had considered it for certain inexpensive China-made products on Haul but then rejected the idea. Read more
GM recalling 721,000 vehicles over engine issue
GM said the connecting rod and crankshaft engine components may have manufacturing defects that can lead to engine damage or failure. The recall includes nearly 600,000 vehicles in the United States. Read more
Deep-sea miner seeks Trump approval to work Pacific seabed
Environmental groups are calling for the activity to be banned, warning that industrial operations on the ocean floor could cause irreversible biodiversity loss. Read more
UPS slashes 20,000 jobs as Trump trade war rattles corporate world
About 40 companies worldwide have pulled or lowered their forward guidance in the first two weeks of the first-quarter earnings season, a Reuters analysis showed. Read more
Dollar regains poise on easing trade worries, month-end buying
The greenback also benefited from month-end buying, as investors sought to rebalance their portfolios after President Donald Trump’s reciprocal tariff announcement led to massive selling in U.S. equities and bonds in April. Read more
Hawaii borrowers in default are among millions nationwide affected by end of payment pause
The pending change is causing anxiety for Hawaii residents not only in default on their student loans, but also those who are relying on them now for their education. Read more
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On the Move: Claire Tong
Hawaii Pacific Health has promoted Claire Tong to vice president of marketing and communications from director of marketing. Read more
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
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
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
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
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
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
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