Business News

WASHINGTON (Reuters) — The U.S. economy unexpectedly contracted in the first quarter amid a resurgence in Covid-19 cases and drop in pandemic relief money from the government, but the decline in output is misleading as domestic demand remained strong. The first decrease in gross domestic product si…

(Reuters) —  U.S. Federal Reserve officials have aligned around plans to accelerate the pace of interest rate hikes this year but remain split over what could be the make-or-break decision of where to stop to avoid dragging the economy into recession. That debate is only beginning but will become m…

P&A Corp.’s amusement park offers horseback riding, a water play zone and an international roller skating rink. Located at the Winners residence compound on Afetna Road in San Antonio, the amusement park is open from Tuesday to Sunday to provide children, teenagers and adults  enjoyable activit…

(Reuters) — Cryptocurrency companies said they remain unsure of U.S. regulations governing products that allow customers to earn interest on holdings instead of trading them, months after such an interest-bearing product drew a $100 million fine from a federal regulator and state governments. In Fe…

(Reuters) — U.S. new vehicle sales is expected to fall in April, as low inventories and rising interest rates boost prices amid high demand, consultants J.D. Power and LMC Automotive said. U.S. retail sales of new vehicles could fall 23.8% to 1.1 million units in April from a year earlier, accordin…

(MVA) — Riman Cosmetics of South Korea recently hosted its top sales representatives in the Marianas, one of the first Meetings, Incentives, Conferences, and Exhibitions or MICE large group tours to the destination since before the pandemic.  One hundred top sales reps of the company were on Saipan…

(Reuters) — Twitter Inc and its advisers were not sure at first how seriously to take him. Elon Musk’s $54.20-per-share offer price for the social media company on April 14 contained the digits 420, a reference to a trope for smoking marijuana. Financing documents he submitted last week in su…

HAGÅTÑA (BoG) —   It  is  with  deep  sadness  that  Bank  of  Guam announces that Martin D. Leon Guerrero, board treasurer and assistant secretary, passed away on April 21, 2022 at the age of 70. Martin was appointed to the Bank of Guam board of directors in 1990. During his 32 years of service, h…

(MVA) — Arrivals to Saipan, Tinian and Rota grew 1,603% percent to 4,155 visitors in March 2022, compared to 244 visitors received in March 2021, according to the Marianas Visitors Authority. The figure is an overall decrease of 88% from 35,295 visitors received in March 2019, marking another moth …

(MVA) — In celebration of May Tourism Month, the Marianas Visitors Authority has organized a series of community events to celebrate and support the primary economic driver of the Marianas. Events will kick off with proclamation signing ceremony declaring May as Tourism Month will be held on April …