Artisans’ wares use reclaimed materials

Manukai Handboards by Keith Tallett and Kalakoa Designs by Sally Lundburg will be the featured artisans at a pop-up retail event at Na Mea Hawaii in Ward Village Shops on Sunday.

Manukai Handboards are made from castoff surfboards and reclaimed wood by Tallett, while waste resin from his work is used by Lundburg’s Kalakoa Designs in the creation of colorful jewelry. Some Kalakoa Designs jewelry incorporates found driftwood and other natural materials.

The companies were featured in the April 17 “Buy Local” column in the Honolulu Star-Advertiser.

The husband-and-wife artisans’ wares, created in the Hamakua district of Hawaii island, will be for sale from 11 a.m. to 3 p.m.

Average rate on 30-year mortgage rises to 4.08%

WASHINGTON » Average long-term U.S. mortgage rates rose this week, reaching high levels for the year.

Mortgage giant Freddie Mac said Thursday the average rate on a 30-year fixed-rate mortgage rose to 4.08 percent this week from 4.02 percent a week earlier. The rate on 15-year fixed-rate mortgages increased to 3.24 percent from 3.21 percent.

Mortgage rates have increased in recent weeks, in the midst of the spring house-buying season, as the economy has shown signs of improvement.

A year ago the average 30-year rate was 4.12 percent; the 15-year average was 3.22 percent.

The average fee for a 30-year mortgage declined to 0.6 point from 0.7 point last week. The fee for a 15-year loan was unchanged at 0.6 point.

U.S. to punish automaker over recall lapses

WASHINGTON » Fiat Chrysler will be punished soon for failing to follow the law in 23 recalls involving more than 11 million vehicles, the nation’s top auto safety regulator said Thursday.

But Mark Rosekind, administrator of the National Highway Traffic Safety Administration, wouldn’t say what action the agency will take until after a public comment period closes July 17.

FDA approves costly cystic fibrosis drug

WASHINGTON » Federal health officials have approved a new combination drug for the most common form of cystic fibrosis, the debilitating inherited disease that causes internal mucus buildup, lung infections and early death. But it will come at a steep price: more than $250,000 for a year’s treatment.

The Food and Drug Administration cleared the twice-a-day pill from Vertex Pharmaceuticals Inc. for a variation of cystic fibrosis that affects about 8,500 people in the U.S. who are 12 years and older. The approval notice was posted to the agency’s website Thursday.

Sizable stock holdings by justices revealed

WASHINGTON » New personal financial disclosures from the Supreme Court show that Chief Justice John Roberts and two other justices are maintaining significant investments in individual companies’ stock.

The details of investments held by Roberts, Justice Samuel Alito and Justice Stephen Breyer are in annual financial reports released Thursday by the federal judiciary.

Roberts holds stock worth $250,000 to $500,000 each in Time Warner Inc. and Microsoft Corp., and smaller investments in other technology and communications companies.

Tesla delivers record number of cars

PALO ALTO, Calif. » Electric car maker Tesla’s second-quarter deliveries surged 52 percent to set a company record exceeding 11,000 vehicles.

The Palo Alto, Calif., company had surpassed 10,000 vehicles for the first time in the first three months of the year and on Thursday said it had broken that record, delivering 11,507 vehicles.

Tesla makes only one car, the Model S sedan, but CEO Elon Musk said last month he expects to begin deliveries of an SUV, the Model X, in three or four months. Tesla began 2015 with 20,000 reservations for the Model X. The company has said it plans to deliver 55,000 Model S sedans and Model X SUVs this year.

On the Move

» King & Neel has announced the following additions and promotions to the company:

— Patrick Nii is the company’s new vice president/account executive, who will be responsible for strategic planning, department operations and business development. He was previously the vice president of Acclamation Insurance Management Services.

— Sean Keahi Spencer is vice president of King & Neel. He has more than 20 years of experience, including serving as senior claims representative of Gallagher Bassett Service as well as claims examiner of GAB Robins North America.

— Patricia M. “Tricia” Miyashiro has been promoted to vice president/operations manager, who will oversee business operations for King & Neel. She was previously the company’s assistant vice president/operations manager.

— Kathy McElrath returns to the company as a bond operations manager, overseeing the daily operations of the bond department as well as maintenance of current underwriting information.

Ship Ahoy!

Today’s ship arrivals and departures: