More Japanese consumers turning to foreign rice amid price surge
Wholesale prices for domestic rice have surged about 70% over the past year to hit their highest levels since current records began in 2006. 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.
Tesla’s U.S. sales plunge as GM and others make gains
Car buyers are moving away from Teslas and toward models like General Motors’ Chevrolet Equinox electric vehicle, which starts around $35,000 and can travel more than 300 miles on a charge, Cox Automotive, the research firm, said in a report. Read more
Wall Street sinks as Powell flags slowing growth, Nvidia slumps
Powell, in remarks for the Economic Club of Chicago, said larger-than-expected tariffs likely mean higher inflation and slower growth. Read more
Powell: Fed to hold rates as tariffs fuel economic uncertainty
“For the time being, we are well-positioned to wait for greater clarity before considering any adjustments to our policy stance,” Powell said in prepared remarks to the Economic Club of Chicago. Read more
Pre-tariffs buying fuels U.S. retail sales; weakness lies ahead
With the stock market selling off and consumer sentiment tanking amid a darkening economic outlook wrought by President Donald Trump’s tariff campaign, the robust sales pace reported by the Commerce Department today will probably fizzle in the months ahead as consumers hunker down. Read more
Trump jumps in on tariff talks with Japanese officials
Tokyo sent its economic revitalisation minister Ryosei Akazawa to kick-start the talks, expecting to face Trump’s Treasury Secretary Scott Bessent in Washington, and had hoped to limit the scope of discussions to trade and investment matters. Read more
CDC advisers discuss narrowing use of COVID-19 booster shots
COVID is still a leading cause of death among both adults and children. Read more
Hawai‘i Tourism Authority probed for late payments, ethics violations
The Hawai‘i Visitors and Convention Bureau at one time was owed $11 million, and is now owed about $6 million and is pursuing $780,000 in interest for late payments, a state official said. Read more
Hawaii economists offer bleak take on Trump tariffs
Hawaii’s economy is in store for reduced growth due to indirect impacts on tourism from President Donald Trump’s global tariffs, according to two local economists. Read more
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Heineken beats first quarter forecasts as tariff risks loom
Shares in the world’s second-largest brewer by global volumes rose almost 3% as investors welcomed another quarter of delivery after Heineken cheered investors with its 2024 performance in February. Read more
White House limits newswire access to Trump
The decision comes after the Trump administration last week lost a court challenge brought by another wire service, the Associated Press, over its earlier exclusion from the press pool. Read more
Japan seeks full removal of U.S. tariffs ahead of trade talks
Japan, a long-time U.S. ally, has been hit with 24% levies on its exports to the United States, although these tariffs have, like most of Trump’s sweeping “reciprocal” tariffs, been paused for 90 days. Read more
Katy Perry joins all-female crew in Blue Origin spaceflight
The crew lifted off from West Texas at 9:31 a.m. ET (3:31 a.m. Hawaii time) and traveled to the edge of space, where they experienced a brief period of weightlessness before returning to Earth in a flight lasting around 11 minutes, according to a live broadcast by Blue Origin, the space company founded by billionaire Jeff Bezos. Read more
Apple takes top spot for first-quarter smartphone sales
Apple had 19% of the smartphone market, despite flat or declining sales in the U.S., Europe and China, followed by Samsung with 18% of the market, according to Counterpoint. Read more
Meta’s Zuckerberg takes the stand at antitrust trial
The FTC seeks to force Meta to restructure or sell parts of its business, including Instagram and WhatsApp. Read more
LVMH misses forecast as core business slumps in first quarter
The decline in first-quarter sales, after 1% growth in the fourth quarter and analyst expectations for 2% growth in January to March, sent LVMH depositary receipts traded in the U.S. down 7.5%. Read more
Tech stocks surge as Trump eases tariffs on electronics
Information technology led sub-sector gains and was up 2.3%. Most megacap and growth stocks rose, with Apple leading the bunch with a 5.4% gain. Read more
City fails to collect millions in fines from Oahu rentals
The city has issued over $100 million worth of fines for short-term rental violations over the past three fiscal years but has collected less than $2 million — or barely 2% — even after hiring a collection agency in 2023 that was tasked with bringing in every dollar owed to the city. Read more
Trump: Chips from China will face national security probe
Those electronics “are just moving to a different Tariff ‘bucket,’” Trump said in a social media post. “We are taking a look at Semiconductors and the WHOLE ELECTRONICS SUPPLY CHAIN in the upcoming National Security Tariff Investigations.” Read more
U.S. businesses already seeing impact of Trump tariffs
Some businesspeople said they have canceled purchase orders, halted expansion plans and delayed hiring. Read more
Trump spares smartphones, computers from 125% China tariffs
Trump’s prior 20% duties on all Chinese imports that he said were related to the U.S. fentanyl crisis remain in place. Read more
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