WASHINGTON » U.S. manufacturing growth accelerated in May for the first time in six months, propelled by more new orders and an increase in hiring.
The Institute for Supply Management, a trade group of purchasing managers, said Monday that its manufacturing index rose to 52.8 last month, from 51.5 in April. That’s the highest reading since February. Any reading above 50 signals expansion.
Construction spending up 2.2% in April
WASHINGTON » U.S. construction spending climbed in April to the highest level in more than six years, fueled by healthy gains in housing, government spending and non-residential construction.
Construction spending advanced 2.2 percent in April to a seasonally adjusted annual rate of $1 trillion, the highest level since November 2008, the Commerce Department said Monday. Spending rose a more modest 0.5 percent in March.
Health plans go big with ’16 rate requests
WASHINGTON » Dozens of health insurers want price hikes well beyond 10 percent for individual coverage next year, as some juggle higher-than-expected costs and rising prescription drug expenses.
Blue Cross and Blue Shield of North Carolina is seeking a roughly 26 percent premium increase, while plans in Illinois and Florida, among other states, are asking for hikes of
20 percent or more, according to preliminary rate information released Monday on the federal government’s HealthCare.govwebsite.
Malaysia Air CEO upbeat about future
Kuala Lumpur, Malaysia » The new CEO of Malaysia Airlines said the ailing carrier could break even by 2018 after cutting staff, selling surplus aircraft and refurbishing its international fleet.
Christoph Mueller said Monday the airline is trying to sell two of its A380 super jumbo jets and has gone ahead with its plan to cut 6,000 of its 20,000 staff.
The remaining 14,000 employees have been offered jobs in a new company that will take over the legacy Malaysia Airlines business.
The former chief executive of Ireland’s Aer Lingus said during a news conference that Malaysia Airlines is "technically bankrupt" but can re-emerge as Southeast Asia’s leading airline.
ON THE MOVE
Servco Automotive has appointed a new management team to lead Servco Auto Waipahu:
>> Scott Yonesaki has been promoted to group vice president and general manager. He will lead and manage the entire dealership, overseeing variable and fixed operations.
>> Charlie Wong has been hired as general sales manager, to be in charge of new and used car sales as well as the finance and lease departments.
Catholic Charities Hawaii has named Glenn Yee as vice president of administration. He has more than 25 years of experience in finance and operations management within the insurance, commercial, construction, media and service industries, including serving as chief financial officer and secretary at Hawaii Island Air.
Windward Ford of Hawaii has promoted Mickey Vierra to general manager. He joined the company last year as a general sales manager and has been in the industry for more than 13 years.