Maui Land narrows third-quarter losses
Maui Land & Pineapple Co. cut its net loss in the third quarter to $700,000 from $1.6 million a year earlier largely by cutting expenses, according to a news release Wednesday.
The Kapalua-based company said revenue for the three months ended Sept. 30 remained almost flat at $2.7 million compared with $2.8 million a year earlier.
Maui Land owns about 23,000 acres of real estate on the Valley Isle and was once a major pineapple producer and resort developer. Most of the company’s business now is leasing property to others.
Banks settle for $3.4B for alleged rigging
LONDON » Traders with nicknames like the "Three Musketeers" and the "A-Team" plotted over Internet chat rooms to manipulate currency markets for years, profiting at the expense of clients — and then congratulating themselves for their brilliance — regulators said Wednesday, as they fined five banks $3.4 billion.
Using profanity-laced banter, the traders coordinated their financial positions in the multi-trillion-dollar currency market, securing profits for those inside their circles. "YESsssssssssss," one of them wrote in a chat message. "Yeah baby" and "nice work gents … I don my hat," wrote others, according to documents of their exchanges.
Citibank, JPMorgan Chase, Royal Bank of Scotland, HSBC Bank and UBS agreed to settlements totaling almost $3.4 billion with the U.S. Commodity Futures Trading Commission, U.K. Financial Conduct Authority and Swiss Financial Market Supervisory Authority. The British regulator said Barclays remains under investigation.
Lower attendance cuts SeaWorld earnings
ORLANDO, Fla. » SeaWorld Entertainment Inc. said Wednesday that its third-quarter earnings fell 28 percent from a year ago as attendance to its theme parks fell.
Shares of the Florida-based company fell 10 percent in morning trading Wednesday
SeaWorld has been battling negative publicity surrounding its treatment of killer whales after "Blackfish," a documentary that aired last year, suggested its treatment of the mammals provokes violent behavior in them and has led to the death of trainers.
Attendance to its theme parks fell 5.6 percent to 8.4 million in the third quarter from 8.9 million in the same period a year ago, SeaWorld said.
The Orlando, Fla.-based company said it earned $87.2 million, or $1 per share, in the quarter ended Sept. 30, compared with $120.7 million, or $1.34 per share, a year ago.
YouTube offers higher-quality audio for fee
For nearly a decade, YouTube has offered a smorgasbord of free music, making just about every song imaginable — from Top 40 to ukulele covers — available at a click. But soon the site, whose more than 1 billion monthly visitors make it the world’s most popular music platform, will start charging for additional perks.
On Wednesday, YouTube unveiled YouTube Music Key, a long-awaited upgrade of its music offerings that will include higher-quality audio for most songs and give users the option of paying $8 a month for extra features, chief among them removing YouTube’s ubiquitous ads.
With its new service, YouTube hopes to reform its reputation in the music industry as a phenomenal free site to promote songs, but one that pays a pittance in royalties.
"We want to give fans more ways to enjoy music on YouTube, but also give artists more opportunities to connect with fans and earn more revenues," said Christophe Muller, its music partnerships director.
Hasbro in discussions to buy DreamWorks
Shrek could soon share a home with the Transformers and My Little Pony, if their corporate parents are able to seal a deal.
Toymaker Hasbro is in advanced talks to buy DreamWorks Animation, potentially gaining a new big-screen outlet for its wares, people briefed on the matter said Wednesday.
Under the current terms of the proposed deal, Hasbro would pay a mix of cash and stock, though an exact price has not yet been determined, one of the people said. Jeffrey Katzenberg, chief executive of DreamWorks Animation, is seeking more than $30 a share, a significant premium over his company’s current stock price of $22.37.
ON THE MOVE
Shawna Makala Paakaula has been appointed principal of Puohala Elementary School in Kaneohe, where she has served as temporary principal since July 2013. Prior to that, Paakaula taught kindergarten through sixth grade in the Hawaiian Language Immersion Program at Hauula Elementary School.
MMI Realty Services has named Stephanie England as general manager for Kahala Mall, Kapolei Shopping Center, Hunakai Office Building and Hawaii Opera Plaza. England was previously general manager of Kamehameha Shopping Center and has worked with MMI Realty Services for a number of years.
The Plaza Assisted Living has hired Janel Higuchi as business officer manager for the Plaza at Pearl City. She was previously an appointment/registration clerk in Kaiser Permanente’s rehabilitation and internal medicine department.
