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Hawaiian Electric.
HEI posts profit as customers struggle to make payments

Hawaiian Electric Industries Inc.’s net income rose 15% in the second quarter as it postponed utility maintenance work and made accounting adjustments to make up for customers behind on their electricity bills and homeowners in arrears on their mortgages. Read more

Hawaiian Telcom parent posts wider loss

Hawaiian Telcom, which has been a subsidiary of Cincinnati Bell for just over two years, will soon start contributing revenue to another owner. Read more

American Savings reserves $15.1M for potential loan losses

American Savings Bank set aside $15.1 million for potential loan losses and incurred $3.7 million in COVID-19 related expenses in the second quarter as it continued to navigate the uncertainty stemming from the COVID-19 pandemic. Read more

Central Pacific Bank.
Central Pacific Bank tops estimates, reserves $10.6M

Central Pacific Bank set aside $10.6 million in the second quarter for potential loan losses but trounced analysts’ earnings estimates even as the pandemic wreaks havoc on Hawaii’s economy. Read more

Life of the Land opposing Honua Ola Bioenergy’s bid for reversal

Life of the Land, whose 2017 appeal to the state Supreme Court led to the state Public Utilities Commission rejecting Honua Ola Bioenergy’s power purchase agreement with Hawaii Electric Light Co., filed a motion Wednesday with the PUC saying that Honua does not meet the standard for reconsideration. Read more

                                <strong>“It’s a big improvement. It indicates that the economy is improving. … When tourism opens in September, there will be more businesses open and more people hired. It will be better than today.”</strong>
                                <strong>Eugene Tian</strong>
                                <em>Chief economist for the state Department of Business, Economic Development and Tourism</em>
Hawaii unemployment rate improves to 13.9%

The seasonally adjusted rate was significantly better than the revised 23.5% rate in May and the all-time high in April of 23.8%, which appears likely to stand as the peak as the local economy gradually reopens. Read more

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