The end of pandemic flight bargains? Air travel costs surging with more to come
Patrick De Haan has a bird’s-eye view of skyrocketing prices around the country. He’s the head of petroleum analysis at GasBuddy, a company that crowdsources gas price data. But more recently, he is feeling the pain of emptying his wallet for one of the latest trends of surging costs — air travel.
BBB study: Cryptocurrency scams on the rise
There’s a lot of buzz around cryptocurrency. The mystery, the thrill, the hype, and maybe above all, the confusion. While many of us have heard of cryptocurrency, many are unfamiliar with the ins and outs of this digital form of currency. It’s unregulated, untraceable and untouchable – it only exists as lines of computer code.
Business news at a glance
Mortgage rates climb to 5% for the first time since 2011
Modest-income buyers being priced out of new-vehicle market
DETROIT — Two years after the pandemic tore through the economy, America’s auto market looks something like this: Prices are drastically up. Supply is drastically down. And gasoline costs drastically more.
US jobless claims rise but remain near a half-century low
WASHINGTON — The number of people seeking unemployment benefits ticked up last week but remained at a historically low level, reflecting a robust U.S. labor market with near record-high job openings and few layoffs.
S&P downgrade indicates Russia headed for historic default
BOSTON — The credit ratings agency Standard &Poor’s has downgraded its assessment of Russia’s ability to repay foreign debt, signaling rising prospects that Moscow will soon default on external loans for the first time in more than a century.
This Seattle suburb banned cars from Main Street in response to COVID. They may never return
BOTHELL, Washington — Nearly two years ago, Bothell banned vehicles from a downtown street to promote outdoor dining and strolling during the COVID-19 pandemic.
US jobless claims fell last week to match lowest since 1968
Applications for U.S. state unemployment insurance fell last week by more than forecast, showing that employers are retaining workers in an increasingly tight labor market.
World’s EV fleet will soon surpass 20 million
The world is about to pass another important milestone in electric vehicle adoption: 20 million plug-in vehicles on the road globally, come June, according to BNEF estimates. That’s remarkable growth from only 1 million EVs on roads in 2016.
More opportunities: HCC students grow crops on Honua Ola land; 90% of harvest will go to The Food Basket
Big Island agriculture students are taking the opportunity to plant produce on three acres of land through a partnership with Honua Ola Bioenergy in Pepeekeo.
BBB releases annual Scam Tracker Risk Report
Scams related to cryptocurrency jumped from the seventh riskiest scam in 2020 to second riskiest in 2021, according to the 2021 BBB Scam Tracker Risk Report, released in March. Although cryptocurrency scams made up only 1.9% of the scams reported to BBB Scam TrackerSM in 2021, the average reported median dollar loss reported for these scams was $1,200, much higher than the overall median dollar loss of $169 for all scam types. The annual report analyzes scams reported to the Better Business Bureau.
Hawaii goes online to observe Financial Literacy Month
HONOLULU — The state Office of the Securities Commissioner is holding a month-long financial education campaign to mark Financial Literacy Month in Hawaii.
US hiring stays robust as jobless rate falls, wages pick up
The U.S. added close to half a million jobs in March and the unemployment rate fell by more than expected, highlighting a robust labor market that’s likely to support aggressive Federal Reserve tightening in the coming months.
Firms have pull $45B of deals since war in Ukraine
At least a hundred companies worldwide have delayed or pulled financing deals worth more than $45 billion since Russia’s invasion of Ukraine.
Business news at a glance
HCFCU announces temporary closure of Kailua-Kona branch
US pending homes sales unexpectedly decline for a fourth month
A gauge of U.S. pending home sales fell unexpectedly in February for a fourth straight month as limited inventory continued to restrict a real estate market that’s now facing another challenge — rising borrowing costs.
BBB Tips: A content marketing strategy establishes trust and credibility
A dynamic website that offers relatable, useful content for visitors can make your small business shine. In fact, offering unique content that gives users insight to enhance their lives and invites new customers to experience your brand can give your small business the leverage it needs to compete against big-box stores.
How Alaska Air plans to go bigger: new jets, frequent flyer rewards and more
Despite recent schedule cuts as omicron cases surged and the soaring cost of jet fuel that’s raising airplane ticket prices, Alaska Air executives are touting optimistic plans for accelerated growth as the airline industry emerges from pandemic travel restrictions.
Jobless rate falls in nearly every US state with 12 at record lows
The unemployment rate fell last month in more than half of U.S. states, including in 12 where jobless rates dropped to record lows.
Baker Hughes joins oil rivals in pausing Russian operations
NEW YORK — U.S. oil field services company Baker Hughes said Saturday that it was suspending new investments for its Russia operations, a day after similar moves were announced by rivals Halliburton Co. and Schlumberger.
