Hawaii among top renewable energy states

Hawaii ranked among the top 10 states in the first quarter for the number of new jobs related to renewable energy, an industry trade group reported Wednesday.

The exact ranking and number of jobs created in Hawaii will be released Thursday in a report prepared by Environmental Entrepreneurs, a group of business leaders, investors and others that promote renewable energy development.

Hawaii ranked third in 2013 for growth of jobs related to renewable energy, according to Environmental Entrepreneurs. The top 10 states for new renewable energy jobs, in alphabetical order, are Arizona, California, Hawaii, Idaho, Kansas, Louisiana, Missouri, New Mexico, New York and Texas.

The first-quarter rankings will be available Thursday at www.CleanEnergyWorksforUS.org.

Lowe’s results rise, but miss expectations

MOORESVILLE, N.C. » Home-improvement retailer Lowe’s fiscal first-quarter net income climbed 16 percent, bolstered in part by a lower tax rate.

But its revenue and its profit adjusted to exclude the effect of one-time items missed analysts’ estimates as poor weather kept customers from stores during the beginning of the key spring selling season.

Nonetheless, the company raised its full-year earnings forecast on Wednesday.

Spring is the most important season for home improvement retailers as Americans start spending more on outdoor projects. But a wet and cold spring has put a damper on shoppers starting on yard and garden products.

For the three months ended May 2, Lowe’s Cos. earned $624 million, or 61 cents a share, compared with $540 million, or 49 cents a share, in the year-earlier period. The lower tax rate added 4 cents a share to the latest quarter’s earnings. Revenue rose 2 percent to $13.4 billion from $13.09 billion.

Netflix coming to 6 European countries

SAN FRANCISCO » Netflix will expand into Germany, France and four other European countries later this year as the Internet video service tries to build an international following that might eventually surpass its U.S. audience.

The additional markets announced Wednesday will extend Netflix’s reach into nearly 50 countries, including 13 in Europe. Besides Germany and France, the latest countries on Netflix’s list are Switzerland, Austria, Belgium and Luxembourg. The Los Gatos, Calif., company entered Europe in 2012 when its Internet video service debuted in the U.K. and Ireland.

PetSmart to stop selling treats from China

NEW YORK » PetSmart is the latest major pet food retailer to say it will stop selling dog and cat treats made in China because of ongoing fears that they are making pets sick. The company plans to have the treats off all its store shelves by March 2015.

"This is something we’ve been working toward for some time, and feel it’s the right thing to do for pets and our customers," said PetSmart spokeswoman Erin Gray.

Investigators at the U.S. Food and Drug Administration haven’t been able to prove that treats made in China are making pets ill. But since 2007, it has received more than 4,800 complaints of pet illnesses and more than 1,000 reports of dog deaths after eating Chinese-made chicken, duck or sweet potato jerky treats.

PetSmart Inc., based in Phoenix, owns more than 1,300 stores in North America.

Target profit falls 16% as breach takes toll

NEW YORK » Target cut its annual profit outlook Wednesday and said its first-quarter earnings fell 16 percent as it took another hit from a massive customer data breach and a troubled expansion in Canada.

The third-largest U.S. retailer, based in Minneapolis, also issued a second-quarter profit projection below analysts’ expectations. Target says it earned $418 million, or 66 cents a share, in the quarter ended May 3. That compares with $498 million, or 77 cents a share, a year earlier.

Revenue rose 2.1 percent to $17.1 billion.

Fed is weighing options for rate rise

WASHINGTON » The Federal Reserve has begun to discuss the tools it could use to finally pull back the extraordinary stimulus it’s provided the U.S. economy since 2008. But Fed officials plan further discussions and have set no timetable for any increase in interest rates.

Minutes of the Fed’s April 29-30 meeting released Wednesday show that officials discussed how to unwind the support they’ve given the economy once they decide to begin raising the Fed’s key short-term rate. That rate has remained at a record low near zero since December 2008.

ON THE MOVE

YWCA of Oahu will honor the following female leaders during a luncheon June 3 in the Hawaii Ballroom at the Sheraton Waikiki Hotel:

» Marilyn Moniz-Kahoohanohano is associate athletics director at the University of Hawaii and has served the UH athletic department for almost 25 years.

» Karen Radius is a retired Girls Court judge at the Family Court of the of the First Circuit. Radius also was the founding judge of the Juvenile Drug Court in 2001 and the Girls Court in 2004.

» Dr. Cecile Sebastian, a general and implant dentist and founder of Smiles for Success, an organization that offers dental services and supplies to economically disadvantaged women.

» Helen N. Wai is a financial literacy consultant, speaker and trainer. She has the ability to connect far-reaching topics to a full spectrum of participants and has attracted opportunities to facilitate, speak, network, consult and train throughout Hawaii, Alaska, Michigan and Washington, D.C.