More than 100 Oahu charities received a portion of $330,000 in Hawai‘i Lodging & Tourism Association Visitor Industry Charity Walk funds on Wednesday.

The funds were raised in May through the Charity Walk, where walkers raised more than $2 million for 346 charities statewide. This year’s total topped last year’s for both the number of charities helped and money raised. Since its inception, the Charity Walk has raised more than $30 million. All of the money raised on each island stays on that island to benefit local charities.

“We had a record number of charities apply for Charity Walk funding this year, and they were all very deserving,” said Mufi Hannemann, HLTA president and CEO. “The good these charities do for our communities is why we continue this tradition of giving, and it’s so great to see many of them getting involved with our Charity Walk.”

The American Red Cross, Hawaii Foodbank and Mental Health Kokua remained among the walk’s beneficiaries. Ho‘ola Na Pua, Honolulu Community Action Program and Waipahu High School’s Academy of Hospitality & Tourism were among first-time beneficiaries.

Ho‘ola Na Pua is committed to the healing and empowerment of youth victims of sex trafficking. The HCAP Kumuhonua Transitional Living Center provides support and temporary shelter for single adults and couples who are homeless or at risk of becoming for homeless. The Academy of Hospitality & Tourism at Waipahu High puts high school students on the path to a successful hospitality career.

Yellen says rate increase likely this year

WASHINGTON >> Federal Reserve Chairwoman Janet Yellen said Wednesday that the central bank has no “fixed timetable” for raising interest rates but she believes the economy is ready for a rate hike by the end of the year.

She said during an appearance before the House Financial Services Committee that when the Fed met last week, a majority of her colleagues believed it would be appropriate to raise rates before the end of this year.

The Fed boosted its key policy rate in December 2015 to a range of 0.25 percent to 0.5 percent. But since then, officials have left the rate unchanged.

Feds asked to investigate EpiPen maker

WASHINGTON >> Senators are asking the Justice Department to investigate whether pharmaceutical company Mylan acted illegally when it classified its life-saving EpiPen as a generic drug and qualified for lower rebate payments to states.

The chairman of the Senate Judiciary Committee, Sen. Charles Grassley, R-Iowa, and Democratic Sens. Richard Blumenthal of Connecticut and Amy Klobuchar of Minnesota sent a letter to Attorney General Loretta Lynch on Wednesday and suggested the company may have gamed the system to divert millions of dollars from taxpayers.

Mylan CEO Heather Bresch has come under fire in Congress as the price of the emergency allergy shots has skyrocketed in recent years.

‘Artificial pancreas’ device approved

WASHINGTON >> Federal regulators have approved a first-of-a-kind “artificial pancreas,” a device that can help some diabetes patients manage their disease by constantly monitoring their blood sugar and delivering insulin as needed.

The device from Medtronic was approved Wednesday for patients with Type 1 diabetes. About 5 percent of the nation’s 29 million Americans with diabetes have this type.

Type 1 diabetes patients now have to manage their insulin through multiple injections throughout the day or a drug pump that delivers it through a tube.

Anheuser-Busch pays $6M to settle charges

WASHINGTON >> Anheuser-Busch InBev will pay $6 million to settle charges by U.S. regulators that a joint venture in India paid off government officials to boost sales and production, then tried to quiet an employee who raised the issue.

The joint venture in which AB InBev had a 49 percent interest used third-party sales promoters to make payments to Indian officials in violation of the Foreign Corrupt Practices Act, the Securities and Exchange Commission said.

Biggest beer makers get OK to merge

LONDON >> A deal worth $103 billion to combine the world’s two biggest beer companies cleared its last major hurdle Wednesday when the shareholders of SABMiller approved the takeover by Budweiser maker Anheuser-Busch InBev.

Regulators around the world have already approved the deal, and the takeover is expected to be formally completed on Oct. 10.

ON THE MOVE

  Bank of Hawaii has promoted Jenny Kajioka to vice president from assistant vice president in the Hawaii Commercial Banking Center. She previously served as a portfolio management officer in corporate banking at Bank of Hawaii. 

 Hawaii State Federal Credit Union has promoted Aaron Vallely to vice president of sales and branch administration. He previously served as director of sales and branch administration since 2012 as well as branch manager for the main branch of Hawaii State FCU. Prior to joining the credit union in 1996, he served as branch manager of Bank of Hawaii and Central Pacific Bank.