BRIEFLY

Permit woes stall Kailua Target construction

The building of Target Corp.’s Kailua store, which was originally expected to open in 2012, continues to be delayed in the state’s permitting process.

Target is currently conducting field tests for an archaeological inventory survey, which requires trenching and other light earthmoving activities.

The company is working with the State Historic Preservation Division and Native Hawaiian cultural descendants of Kailua on the field tests and upcoming construction.

Target will evaluate its construction plans based on the results of the survey to determine when it can open the store, said company spokes­woman Mya Walters.

Horizon Lines lowers fuel surcharge

Horizon Lines Inc., the state’s second-largest ocean shipper, said Thursday it is lowering its fuel surcharge by 3 percentage points to 39 percent, effective Sunday.

The move by Horizon matches a similar downward adjustment and fuel surcharge announced Tuesday by Matson Navigation Co., Hawaii’s largest shipper. Matson’s decrease also goes into effect Sunday.

Pasha Hawaii Transport Lines announced Wednesday it was lowering its fuel surcharge by 3 percentage points to 35 percent beginning Sunday.

Halekulani finishes property revitalization

Halekulani has completed a propertywide revitalization called "Renewal" that includes "refreshing" each of the hotel’s 453 guest rooms. All rooms have been outfitted with new furnishings, providing a more spacious feel with more contemporary conveniences such as new accessories and amenities, sophisticated lighting design, revitalized bedding and linens, enhanced in-room technology, as well as reconceived new bathrooms and new lanai furniture.

As part of the Renewal, new and enhanced culinary programs and menus are also being unveiled, including a unique new bar concept, L’Aperitif at La Mer, newly styled Afternoon Tea experience, and new menus throughout the property. New related guest experiences, services, amenities and epicurean programs will continue to be unveiled throughout the summer and fall.

30-year mortgage rate drops to record 3.56 percent

WASHINGTON » Average rates on fixed mortgages fell again to record lows, giving would-be buyers more incentive to brave the housing market.

Mortgage buyer Freddie Mac says the average rate on the 30-year loan fell to 3.56 percent. That’s down from 3.62 percent last week and the lowest since long-term mortgages began in the 1950s. The rate on the 30-year loan has fallen to or matched record low levels in 11 of the past 12 weeks.

The average rate on the 15-year mortgage, a popular refinancing option, dipped to 2.86 percent, below last week’s previous record of 2.89 percent.

Cheaper mortgages have contributed to a modest housing recovery this year. Home sales were up in May from a year ago. Home prices are rising in most markets. And homebuilders are starting more projects and spending at a faster pace.

Fewer auto closings pare jobless claims

WASHINGTON » The number of people seeking U.S. unemployment benefits plunged last week. But a big reason is that automakers have skipped some of their usual summer shutdowns to keep up with demand, causing fewer temporary auto layoffs. The Labor Department adjusts the number of applications for unemployment aid to account for seasonal factors. But it didn’t anticipate fewer temporary shutdowns of auto plants this summer — and fewer auto layoffs. That distorted the seasonally adjusted data it released Thursday.

And that may largely explain why applications for unemployment aid tumbled 26,000 last week to a seasonally adjusted 350,000 — the fewest since March 2008.

Yahoo confirms theft of 450,000 passwords

LONDON » Some 450,000 Yahoo users’ email addresses and passwords have been leaked because of a security breach, the company confirmed Thursday, adding that just a small fraction of the stolen passwords were valid.

The company said an "old file" from the Yahoo Contributor Network was compromised Wednesday. Among the stolen emails and passwords were many from Yahoo’s own email service along with those of other companies. The Yahoo Contributor Network is a content-sharing platform.

ON THE MOVE

» Lester Kodama has been promoted to print retail marketing manager for the Hono­­lulu Star-Advertiser. For the past two years Kodama held the position of single-copy manager at the Star-Advertiser, which is the same position he held at the Hawaii Newspaper Agency and The Hono­lulu Advertiser for 18 years. Kodama has 25 years of newspaper experience in Hawaii. In his new role he will continue to capitalize on his long-term relationships with retailers and the visitor industry, and to enhance the sales and marketing of the Star-Advertiser and its many print publications. He is a longtime member and contributor to the Hawaii Hotel and Lodging Association.

» Sharene Chun has been promoted to print distribution manager for the Hono­lulu Star-Advertiser. Chun will now oversee the entire delivery for the Star-Advertiser, which includes home delivery and retail copies. Chun was most recently home delivery manager for the Star-Advertiser and has 24 years of newspaper experience. She started her newspaper career at the Hawaii Newspaper Agency in 1988. In 2001 when the Hono­lulu Star-Bulletin was purchased by Black Press, Chun was hired as single-copy manager, and in 2007 was named assistant circulation manager.

SHIP AHOY!

Today’s ship arrivals and departures: