NYK adds Asia-Hawaii cargo service

Japan-based transportation firm NYK Group said it plans to adjust its ocean cargo service to Hawaii.

The company announced a new Asia-Hawaii service running to Honolulu from ports in Asia every 10 days, using three ships starting May 5.

Presently, NYK stops in Honolulu in the middle of a route linking Asia with ports in Central and South America on a weekly basis, a route that will cease later this month.

HMSA signs exclusive deal with Longs

Hawaii Medical Service Association has signed a three-year deal for Longs Drugs to be its exclusive pharmaceutical provider.

The agreement between HMSA, the state’s largest health insurer, and CVS Caremark, doing business as Longs in Hawaii, takes effect on Jan. 1, 2013, and runs through 2015.

HMSA had contracted since 2010 with Medco Health Solutions, now known as Express Scripts, as its pharmacy benefits manager.

CVS also has plans to build four Minute Clinics in Hawaii that will employ nurse practitioners and physician assistants who will treat common illnesses, minor injuries and skin conditions, and offer health screenings, vaccinations and physicals.

$1 billion in fines levied for Risperdal risks

LITTLE ROCK, Ark. » An Arkansas judge on Wednesday fined Johnson & Johnson and a subsidiary more than $1.1 billion after a jury found that the companies downplayed and hid risks associated with taking the anti-psychotic drug Risperdal.

Circuit Judge Tim Fox determined that Johnson & Johnson and its subsidiary, Janssen Pharmaceuticals Inc., committed nearly 240,000 violations of the state’s Medicaid fraud law — or one for each Risperdal prescription issued to state Medicaid patients over a 3 1/2-year period. Each violation carried a $5,000 fine, the state’s mandatory minimum amount, bringing the total to more than $1.1 billion.

Fox issued an additional $11 million fine for more than 4,500 violations under the state’s deceptive practices act, but he rejected the state’s request to levy fines in excess of the $5,000 minimum for the Medicaid violations.

Sands launches new casino in Macau

MACAU » U.S. billionaire Sheldon Adelson’s Macau casino operator on Wednesday launched its long-delayed fourth resort, a $4.4 billion complex that is its latest bet on continued strong growth in the world’s biggest gambling market.

Sands China Ltd. executives opened the doors to the Sands Cotai Central after a traditional Chinese lion dance, high-wire tightrope performance and the unveiling of a 5,500-pound bronze and gold "God of Fortune" statue. Completion was delayed several years by the global financial crisis and worker shortages.

People started lining up to get in about five hours before the grand opening, security guards said, and the queue snaked around the building by the time the doors opened.

Hiring slowdown might not last, Fed says

WASHINGTON » A Federal Reserve survey of business conditions across the U.S. suggests that last month’s pullback in hiring may prove to be temporary.

The survey released Wednesday showed that each of the Fed’s 12 bank districts grew steadily from mid-February through April 2. And the survey noted that hiring was stable or increased in most of the country.

The Labor Department last week said hiring slowed in March, to half the pace of the previous three months. The Fed survey, which is anecdotal and contains no numbers, didn’t reflect that slowdown.

U.S. budget deficit heads toward $1 trillion

WASHINGTON » The U.S. budget deficit is running slightly lower than last year’s through the first six months of the budget year but is still on track to top $1 trillion for a fourth straight year.

The Treasury Department said Wednesday that the deficit in March totaled $198.2 billion, a record for that month. That left the gap through the first half of 2012 at $779 billion, down 6.1 percent from a year ago.

The Congressional Budget Office forecasts a deficit of $1.17 trillion for the entire 2012 budget year, which began Oct. 1. That would be a small improvement from last year’s $1.3 trillion deficit. Still, the chronic budget deficits are likely to be a top issue in the presidential election.

ON THE MOVE

American Savings Bank has announced the following promotions and hires: 

» Jason Lazzerini as director of consumer sales and operations support.

» Auli‘i Graf to vice president and director of government relations and corporate advancement.

» Morty Carter as business relationship manager in charge of business development and servicing customers on Hawaii island.

» Raymond Matsuura as treasury operations manager.