AT&T’s 3-year isle investments hit $110M

AT&T Inc. said Monday it invested nearly $110 million in its Hawaii wireless and wired networks from 2013 through 2015.

In 2015, AT&T made several wireless network upgrades in Hawaii, adding new cell sites, increasing network capacity and adding new wireless high-speed Internet connections.

“We’re committed to providing our customers fast, reliable, highly secure connectivity,” AT&T Hawaii President Bob Bass said. “We want them to be able access the Internet at any moment, from almost any device and anywhere. Our continued investment in Hawaii brings a host of new, innovative opportunities for residents and businesses.”

The technology company said over the three-year period it invested in upgrades to reliability, coverage, speed and overall performance for residents and businesses. AT&T said the upgrades enhanced critical services that support public safety and first responders.

Pink coin to fund cancer research

NEW YORK >> U.S. officials are developing a new, pink commemorative coin to promote breast cancer awareness and raise money for cancer research, said U.S. Rep. Carolyn Maloney, who sponsored legislation for its creation.

The coin is expected to be released in 2018. It will be part of a set of three new coins aimed at promoting breast cancer awareness and helping fund research to find a cure for the disease. The Treasury Department will create 50,000 pink-gold $5 coins.

Takata anticipates loss linked to recall

TOKYO >> Japanese auto parts maker Takata Corp. is expecting a loss for its fiscal year because of ballooning costs from a massive global air bag recall.

Takata said Monday it is projecting an annual net loss of $120 million. The Japanese manufacturer had earlier forecast a profit of $46 million.

The company’s products are part of the largest recall in U.S. history. Inflators inside the air bags can explode with too much force and spew shrapnel. They are responsible for at least 11 deaths worldwide and more than 100 injuries.

It is still unknown exactly how many air bag inflators have to be recalled globally as each automaker must deal with the latest NHTSA decision. The global recall previously totaled about 50 million inflators, but it’s likely to expand to more than 100 million, adding to the already biggest recall in U.S. history. Because of the sheer numbers involved, it will take years to manufacture replacement parts.

Gap stock falls after downbeat outlook

SAN FRANCISCO >> Gap shares tumbled as much as 15 percent in after-hours trading Monday after the struggling retailer reported worse-than-expected sales, issued a profit warning for the first quarter and announced that it is mulling options for its business outside North America. The San Francisco-based retailer said sales in April at stores open for at least a year — a key metric of a retailer’s health — fell 7 percent. That fell short of analysts’ expectations for growth of 0.5 percent, according to Thomson Reuters.

LendingClub CEO resigns after probe

NEW YORK >> The chairman and CEO of the online lending company LendingClub stepped down after an internal review determined that the company’s business practices were violated with the sale of $22 million in loans to people with sketchy credit scores to a single investor.

The sudden departure of Renaud Laplanche, along with the firing or resignation of three senior managers involved in the sale, sent shares of the company plunging Monday.

It’s not immediately clear what role Laplanche played, but the company said that the transaction “failed to conform to the investor’s express instructions.”

J.C. Penney to expand major appliances

NEW YORK >> J.C. Penney says it will start to sell major appliances online and expand its rollout of the category to nearly 500 stores, or almost half of its stores, this summer.

The move comes after a successful test of offering major appliances such as washing machines and refrigerators in 22 markets in February. Penney got out of the major appliance business more than 30 years ago.

Penney also said Monday that it exceeded its own goal for one measure of profit.

ON THE MOVE

Gilbert & Associates has hired and promoted the following team members:

>> Michelle Laberge is the new accounting manager. She has extensive experience in office management and bookkeeping.

>> Autumn Wigley has been promoted to executive account manager.

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DTRIC Insurance has promoted Jon Muranaka to marketing director from marketing manager. He joins the company’s senior management team and will be responsible for creating and executingadvertising, marketing and communications plans in order to enhance DTRIC’s commercial and personal lines of business in the marketplace. Muranaka has 15 years of experience, includingworking for the Harris Agency, Servco Pacific, Bank of Hawaii and Laird Christianson Harris Advertising.

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