American economic growth slows to 1.5%

WASHINGTON » U.S. economic growth slowed to an annual rate of just 1.5 percent from April through June, as Americans cut back sharply on spending. The weaker growth adds to worries that the economy could be stalling three years after the recession ended.

The Commerce Department also said Friday that the economy grew a little better than previously thought in the January-March quarter. It raised its estimate to a 2 percent rate, up from 1.9 percent.

Growth at or below 2 percent isn’t enough to lower the unemployment rate, which was 8.2 percent last month.

Ala Moana, Windward Mall get new tenants

Ala Moana Center and Windward Mall are adding a variety of new stores and restaurants.

Coming to Ala Moana later this year will be a restaurant called GRYLT, the Teavana tea shop and the Balenciaga boutique featuring Italian luxury goods and apparel. They will join the recently opened Boardwalk candy shop, Lids Locker Room sports merchandise store and Uno de 50 jewelry boutique.

At Windward Mall two new stores are scheduled to open in August: local pottery retailer Jeff Chang Pottery and national bakery chain Great Harvest Bread Co.

HECO to buy electricity from Waianae project

Hawaiian Electic Co. has signed an agreement to buy electricity from a planned solar project in Wai­anae that will provide enough energy to supply the needs of about 40 homes.

Nevada-based Blue Earth Inc. has formed a local subsidiary called Wai­anae PV-2 that will develop and own the 497-kilowatt project on Kuwale Road. Construction on the $2 million ground-mounted project is expected to begin in the third quarter of 2012 and be completed by the first quarter of 2013. The project is the first for Blue Earth in Hawaii.

HECO will buy electricity from Wai­anae PV-2 for 18.9 cents a kilowatt-hour under a 20-year contract. The project is being developed under HECO’s "feed-in tariff" program, an initiative launched in 2010 to streamline the regulatory process for independent power producers that want to sell electricity to the utility.

Kids to share biz ideas at Windward Mall

Young entrepreneurs will be participating in a business showcase today at Windward Mall.

The top 10 ideas from the mall’s Kids Inc. will be open for business from 10 a.m. to 4 p.m. in Center Court. The entrepreneurs ranging from 6 to 15 years old submitted their business plans via Windward Mall’s Facebook page where fans voted for their favorite business ideas. The business showcase will feature products such as cupcakes, jewelry, cellphone accessories, T-shirts and more.

In addition to the business showcase, there will be live entertainment, balloons from Balloon Monsoon, crafts and face painting with Little People Hawaii and a Big Brothers Big Sisters information table.

Kids Hurt Too Hawaii seeks donations

Kids Hurt Too Hawaii is seeking volunteers and donations for its Kid’s Heart Project, which provides outreach to children and families in the tsunami-affected regions of Japan.

A golf tournament, co-sponsored by Acura of Hono­lulu, will raise money for the effort on Aug. 18. The event will begin at 11:30 a.m. with registration and lunch at the Ko Olina Golf Club. The shotgun start will be at 1 p.m., and the evening will conclude after a 6:30 p.m. awards ceremony and concert at the Aulani, A Disney Resort & Spa.

Contact Yumi Adachi at golf@acurahawaii.com or at 791-4617. For more information on other support opportunities for the Kid’s Heart Project, visit www.kids­hurt­too.org or call 545-5683.

Delta to shut down Comair and lay off 1,700

CINCINNATI » Delta Air Lines is shutting down its shrunken, 35-year-old regional carrier Com­air at the end of September as it switches to bigger jets, and it is sending termination notices to its 1,700 remaining employees.

Comair is down to 290 flights a day. More than 1,000 Com­air employees are in the Cincinnati and northern Kentucky region, with about 700 of those in Kentucky.

Comair has slashed its fleet, flights and workforce in the past seven years. Delta said the smaller regional planes are expensive to fly because they are not as fuel-efficient and cost more to maintain as the fleet ages.

Delta, based in Atlanta, had about 500 of the 50-seat regional jets in 2008 and plans to reduce that to 125 within two years. Most of that flying will be done by new 76-seat jets as well as the 117-seat Boeing 717s that Delta is leasing from Southwest Airlines.

Chevron’s net income declines 7%

NEW YORK » A soaring profit at Chevron’s refineries eased some of the pain of a weaker second quarter. The oil giant said Friday net income fell nearly 7 percent to $7.21 billion, or $3.66 per share. But the results beat expectations thanks to a strong performance from its refinery business.

Apple buying AuthenTec for about $356M

NEW YORK » Apple has agreed to buy fingerprint reader AuthenTec Inc. for approximately $356 million as the maker of iPhones and iPads looks to strengthen its digital security capabilities. Apple’s acquisition comes as consumers use their smartphones for more daily activities, including shopping.

ON THE MOVE

» Aaron Miyashiro has joined Servco Auto Windward as assistant service and parts manager. He has more than 20 years of experience in the automotive industry and was previously part of the Servco management associate training program.

» SpeediShuttle has announced the appointment of Tetsuya "G-San" Goto to handle Far East sales. He has more than 40 years of experience in the Hawaii ground transportation industry.

» Yamamoto & Settle has announced the appointment of Joanna J.H. Markle as its new executive director. Her experience includes work as director of human resources for Sopogy and as director of human resources and government relations specialist for Goodsill Anderson Quinn & Stifel.

SHIP AHOY!

Today’s ship arrivals and departures: