Hawaii, national and international business and economic news.
December arrivals of foreign visitors for business and leisure rose from 3.19 million in November, breaking the previous monthly record of 3.31 million set in October, data from the Japan National Tourism Organization (JNTO) showed. Read more
From 2017 to 2022, the companies — UnitedHealth Group’s Optum, CVS Health’s CVS Caremark and Cigna’s Express Scripts — marked up prices at their pharmacies by hundreds or thousands of percent, netting them $7.3 billion in revenue in excess of the acquisition costs of the drugs, the FTC said in its second report on the industry. Read more
Nurses at Wilcox Medical Center on Kauai began a three-day strike Tuesday after negotiations with their employer reached an impasse. Read more
Cades Schutte LLP has announced the following promotions to partners. Read more
Research has found that biosolids can contain per- and polyfluoroalkyl substances (PFAS), known as forever chemicals, which have been tied to cancers, liver damage, and other illnesses. Read more
Veteran Chinese users, with some sense of bewilderment, welcomed their American counterparts and swapped notes with them on topics like food and youth unemployment. Read more
“Better than expected is not necessarily what the Fed wants to see before easing monetary conditions into a fast-growing economy, with tariffs and tax cuts on the agenda of the incoming administration,” said Carl Weinberg, chief U.S. economist at High Frequency Economics. Read more
“The negative outlook reflects our view that the company’s creditworthiness will continue to deteriorate if profitability does not improve and positive free cash flow is not secured,” S&P said in a statement. Read more
A strike by union nurses at two Queen’s hospitals on Oahu was averted Monday after a tentative agreement on a new, three-year contract was reached during the early morning hours. Read more
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Avalon Group has announced the following promotions and new hire to its leadership team. Read more
The utility has faced intense scrutiny in the past for its role in the deadly 2023 Maui wildfire. Read more
On Sunday, the world’s richest person showed up in the Pacific Palisades neighborhood of Los Angeles for his next mission after maligning the emergency response to the wildfires that have devastated the city and its surrounding areas. Read more
Demand for its COVID vaccine has been waning after the pandemic, while adoption of its RSV shot — its second approved product- has been slower than expected, forcing Moderna to cut costs. Read more
The deal would increase Pershing Square’s stake in Howard Hughes to somewhere between 61% and 69%, depending on how many investors agree to be bought out, from the 38% it currently holds. Read more
Hawaii’s top source of international visitors, Japan, is not projected to recover to pre-pandemic levels this decade. Read more
Honolulu Mayor Rick Blangiardi’s administration says it’s begun negotiations with the owner of the Queen Theater regarding the Kaimuki landmark’s possible eminent domain as well as its future use. Read more
Kauai nurses were disappointed that the hospital has refused to staff their medical/surgical units at the same rates as their facilities on Oahu, according to the nurses’ union. Read more
The FDIC may open an investigation into BlackRock and demand more information from the company if it fails to make sufficient progress toward resolving the issues, the report said. Read more
The Governor’s Office said the decision to reduce the salary for HTA’s president and CEO “reflects the agency’s streamlined operations and redefined responsibilities.” Read more
The justices signaled through their questions during the arguments that they were inclined to uphold the law, although some expressed serious concerns about its First Amendment implications. Read more
As hundreds of Los Angeles residents return to find homes reduced to ashes due to a devastating wave of wildfires, many are fearful that their insurance policies may not cover the rebuild cost. Read more
