Trump threatens 200% tariffs on European wine, spirits
Stocks fell on the news, as investors worried that Trump would enact stiffer trade barriers around the world’s largest consumer market. 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.
Wall Street slides on trade war fears; S&P 500 confirms correction
A broad selloff sent all three major U.S. stock indexes tumbling, with losses in tech and tech-related megacap shares dragging the Nasdaq nearly 2%. Read more
Tesla warns it could face retaliatory tariffs
The Tesla comments reflect those of many U.S. businesses concerned by Trump’s tariffs, but is notable because it is from Tesla. Read more
Farmers sue Trump over frozen Inflation Reduction Act funds
The USDA has frozen a broad swath of grants as it conducts an agency-wide spending review, including money for conservation and other farm programs funded by the IRA. Read more
Donatella Versace steps down as design chief as Prada circles
Donatella, who was the chief creative officer at Versace, has been its driving force since her brother Gianni, the company founder, was gunned down in Miami in 1997. Read more
Musk’s layoffs slow Trump’s energy agenda, delaying permits
The cuts since mid-February have hit employees at agencies that play a crucial role in the process needed to issue permits for new federal and tribal energy production, including the Bureau of Land Management, the Bureau of Indian Affairs, and the Bureau of Ocean Energy Management. Read more
SpaceX scrubs flight that was to retrieve stuck astronauts
NASA had been set to launch a SpaceX rocket from Florida carrying a replacement crew for the International Space Station in a mission that would set up the return to Earth of Wilmore and Williams — stuck in space for nine months after a trip on Boeing’s faulty Starliner. Read more
North American coffee industry seeks answers amid trade war
Companies have roasting, packaging and trading bases in both the United States and Canada in order to better supply clients. Read more
Canadians, stung by Trump’s tariffs and rhetoric, balk at U.S. travel
Canadians have been stung by Trump’s actions and words since he returned to the White House, both around tariffs and suggestions that Canada should be annexed by the United States. Read more
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U.S. inflation eased more than expected in February
Egg prices rose another 10.4% in February, as an outbreak of bird flu continued to exacerbate a nationwide egg shortage. Read more
Trump: Violence against Tesla is domestic terrorism
Activists have lately staged so-called Tesla Takedown protests to voice displeasure over Musk’s role in sweeping cuts to the federal workforce at the behest of Trump and cancellation of contracts that fund humanitarian programs around the world. Read more
Law firm targeted by Trump executive order sues his administration
The lawsuit, filed in federal court in Washington, D.C., asked a U.S. judge to declare Trump’s March 6 executive order unlawful and to bar its enforcement. Read more
Musk launches appeal to restore $56B Tesla payday
The 2018 pay package resulted in spectacular growth for the electric vehicle maker and yet it was determined by the lower Court of Chancery to be unfair to shareholders, who voted twice to approve the plan, Musk argued. Read more
Stocks fall further on President Trump’s latest tariff talk
Airline stocks also wobbled today after Delta Air Lines and American Airlines issued warnings about a worsening economy. Read more
Notice: SEC revokes staff’s authority to launch formal probes
The new rule rescinds an authority that was first delegated to the head of enforcement in 2009 to issue formal orders, such as a subpoena. The move will “more closely align the Commission’s use of its investigation resources with Commission priorities,” it said in a notice published on the SEC’s website on Monday. Read more
U.S.-Canada trade war escalates as Trump doubles tariffs on metals imports
Trump’s latest salvo was in response to the premier of Ontario’s threat that he would place a 25% surcharge on the electricity Canada’s most populous province supplies to 1.5 million U.S. homes. Read more
City’s proposed $5.14B budget under Honolulu Council review
The Honolulu City Council’s budget hearings began Monday with an administrative overview of Mayor Rick Blangiardi’s proposed $5.14 billion budget package for fiscal year 2026. Read more
On the Move: Morris M. Atta
SSFM International has hired Morris M. Atta as a senior project manager effective in February. Read more
Musk says X is facing cyberattack following outage
The number of outage reports rose to around 26,579 after falling briefly, user-submitted data on the outage-tracking website showed. The number was as high as 40,000 earlier in the day. Read more
Coffee theft surges in U.S. as prices for beans soar
The issue was discussed by market participants over the weekend in Houston, where the U.S. National Coffee Association held its annual conference. Read more
Ontario imposes 25% surcharge on electricity exports to U.S.
“President Trump’s tariffs are a disaster for the U.S. economy. They’re making life more expensive for American families and businesses,” Premier Doug Ford said in a statement. Read more
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