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Hawaii Energy, the state’s ratepayer-funded energy efficiency program, said Friday that Hawaii residents have saved more than $21 million through energy efficiency year to date in 2016.
“Most families want to do the right thing. But sometimes, it’s just a matter of having a clear understanding of how to make smart energy choices,” said Brian Kealoha, executive director of Hawaii Energy.
Hawaii Energy offers rebates to residents who upgrade appliances such as window air conditioners, refrigerators and fans. In April, the program also offered electric utility ratepayers of Hawaii, Honolulu and Maui counties free energy-saving kits which included lightbulbs and low-flow shower heads and faucet aerators to help residents cut their use. The promotion is offered annually.
To see the available rebates, visit Hawaii Energy’s website at hawaiienergy.com/for-homes/rebates.
Stability fears rattle Deutsche Bank shares
BERLIN >> Shares in Deutsche Bank swung wildly on Friday, touching a record low before roaring back to life, amid speculation about the stability of Germany’s biggest bank and the European financial system.
Having initially fallen 8 percent, the shares rallied to close more than 6 percent higher on hopes the bank will be able to negotiate down the massive cost of settling a U.S. investigation.
The U.S. government had been asking for $14 billion to settle claims over the bank’s sales of mortgage securities, complex investments that were one of the causes of the global financial crisis in 2008. The U.S. government says Deutsche Bank was among several companies that misled investors about the quality of these investments.
That price was so huge — just below the bank’s total market value as of Friday — that it raised speculation that Deutsche Bank would have to raise new capital, diluting the value of its shares.
Those concerns, as well as broader worries about the bank’s ability to turn around its ailing businesses, hammered its shares in recent weeks. They closed up 6.4 percent at 11.57 euros — a strong close after earlier in the day trading below 10 euros for the first time ever.
The rally was prompted by an unsourced report by Agence France Press that the U.S. government had agreed to a settlement worth $5.4 billion.
BMW recalls SUVs for new air bag problem
DETROIT >> Another potentially deadly problem has surfaced with Takata air bags, this one forcing BMW to recall over 4,000 SUVs in the U.S. and Canada.
The new problem was traced to improper welds, and it’s separate from the trouble that has caused the largest automotive recall in U.S. history.
Subaru recalls vehicles over wiper motors
DETROIT >> Subaru is recalling nearly 593,000 vehicles, some for a second time, because windshield wiper motors can overheat and increase the risk of a fire.
The recall affects certain Legacy and Outback cars from the 2010 to 2014 model years. The company says that due to contamination, parts in the wiper motor cover can interfere with one another. If snow or ice stops the wiper arms from stopping in the proper position, the wiper motor could overheat. That could disable the wipers and melt the cover.
Eurozone inflation rises as oil impact fades
LONDON >> Inflation in the 19-country eurozone doubled in September to near two-year highs as the impact of lower oil prices began to fade, official figures showed Friday, in a development that’s likely to ease pressure on the European Central Bank to provide more stimulus next month.
Eurostat, the European Union’s statistics agency, said the annual rate of inflation rose to 0.4 percent in September. The increase, which was in line with market expectations, took inflation to its highest level since October 2014, when it was also 0.4 percent.
ON THE MOVE
Central Pacific Bank has promoted Anna Hu to executive vice president and chief credit officer. She was previously a senior vice president and interim chief credit officer. Prior to joining CPB in 2015, Hu served as a vice president and corporate banking officer at Bank of Hawaii.
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Shou Ling Kenny has joined Berkshire Hathaway HomeServices Hawaii Realty as a multilingual real estate agent. Kenny has more than 30 years of experience.
Sofos Realty Corp. has announced that Anthony Provenzano has been promoted to senior vice president of commercial brokerage. His responsibilities include overseeing approximately 800,000 square feet in sales and leasing assignments. Provenzano is one of the state’s productive brokers as well as a rising star and ranked as one of Sofos Realty’s top performers since joining the firm in 2010.
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