Starbucks enlarges cup
NEW YORK » Starbucks Corp. will begin a phased-in nationwide roll-out today of its Trenta cup size that can be filled with just shy of a quart’s worth of iced beverages such as coffee, tea and lemonade. The cups will be introduced in 14 states, including Hawaii. Trenta, which means 30 in Italian, will be 31 ounces and cost about 50 cents more than the 20-ounce Venti size.
Local job fair spotlights Disney
Walt Disney Co. will be the featured employer at tomorrow’s Job Quest job fair at the Neal Blaisdell Center as it looks to fill 1,100 positions at its Ko Olina resort scheduled to open in September.
Disney has reserved space equivalent to six stalls and is shipping in parts of its booth from California for the event.
More than 125 employers have reserved space at the job fair, including local businesses, mainland organizations, military branches and government agencies. Some of the larger employers will include Sumitomo, one of the contractors on the Oahu rail project, and Swinerton Builders, which has several contracts to renovate federal buildings in Honolulu.
The event runs from 10 a.m. to 3 p.m. and is sponsored by Success Advertising Hawaii, Oahu WorkLinks, ALTRES Staffing and CareerBuilder. Admission is $3; $1 for students, military and seniors with ID. For information, go to www.successhi.com.
Facebook private offering limited
NEW YORK » Goldman Sachs Group Inc. has prohibited U.S. investors from participating in a private offering expected to raise up to $1.5 billion for social networking site Facebook, citing widespread media coverage that could run afoul of securities guidelines.
The investment bank said yesterday it decided to restrict the fund to prospective shareholders in Asia and Europe because it determined that the news coverage could be inconsistent with the laws that govern private placements.
In a statement, Goldman Sachs said it made the decision on its own and "believes this is the most prudent path to take."
Although Goldman Sachs did not specify which laws it was concerned about, the Securities and Exchange Commission has guidelines that regulate the amount of solicitation and publicity that is allowed in connection with a private placement. Goldman Sachs has declined to specify when the offering might close. It is expected to raise as much as $1.5 billion for the privately held Facebook, the world’s largest Internet social network.
Canada mortgage rules get tougher
TORONTO » Canada is tightening mortgage rules over concerns Canadians are taking on too much debt, the country’s finance minister announced yesterday.
Finance Minister Jim Flaherty said the maximum amortization period for government-insured mortgages will be shortened to 30 years from 35 years. Ottawa is also lowering the limit on how much money Canadians can borrow using their homes as equity to 85 percent of the value, from 90 percent.
The new rules go into effect March 18.
Flaherty said some Canadians are "borrowing to the max at low interest rates." Canada’s central bank and the government have been urging Canadians for months to be wary of taking on too much debt.
South Africans accept Walmart bid
JOHANNESBURG » A South African chain’s shareholders have overwhelmingly accepted Walmart’s offer to buy 51 percent of their company, the chief executive said yesterday, paving the way for the giant U.S.-based retailer to enter Africa.
Massmart said the proposal was approved by 97 percent of shareholders who voted yesterday; 75 percent was needed. Walmart offered 148 rand (about $20) per share in a 17 billion rand (about $2 billion) deal.