Business News

HAGÅTÑA (BoG) —  Bank of Guam board of directors and management announced that Francisco M. Atalig, Joseph P. Bradley and Ernest P. Villaverde are retiring from Bank of Guam effective Dec. 31, 2021. Atalig also steps down from BankGuam Holding Company with the same effective date. Francisco “Frank”…

THE Fiesta Resort & Spa logo has been removed from its main building and will soon be replaced by the hotel’s new name, Crowne Plaza Resort Saipan which will open next year. Located in Garapan, the hotel was originally known as Dai-Ichi and was renamed Fiesta Resort & Spa in 2005 by its the…

WASHINGTON (Reuters) — U.S. retail sales increased less than expected in November, likely payback after surging in the prior month as Americans started their holiday shopping early to avoid empty shelves. A rotation in spending from goods back to services as well as shortages and the resulting high…

WASHINGTON (Reuters) — Major U.S. airlines Wednesday will defend a $54 billion Covid-19 government lifeline even as they face operational challenges and work to speed hiring to address rising demand. The Senate Commerce Committee will hear from the chief executives of American Airlines, Southwest A…

(Reuters) —  Apple Inc’s market value hovered just shy of the $3 trillion mark on Monday, following a stunning run over the past decade that has turned it into the world’s most valuable company. The company’s shares fell just over 2% on Monday to close at $175.74, reversing earlier gain…

SYDNEY (Reuters) — Asian stocks were mostly down and oil prices slipped on Tuesday as the spread of the Omicron coronavirus variant rattled investors who were already on edge ahead of a slew of central bank decisions this week, including a key Federal Reserve meeting. MSCI’s broadest index of…

SHANGHAI (Reuters) — Several companies in one of China’s biggest manufacturing hubs have suspended operations as local authorities try to contain a Covid-19 outbreak, halting production of goods from batteries to textile dyes and plastics. The coronavirus outbreak has disrupted activities in …

LONDON (Reuters) — OPEC on Monday raised its world oil demand forecast for the first quarter of 2022 and stuck to its timeline for a return to pre-pandemic levels of oil use, saying the Omicron coronavirus variant would have a mild and brief impact. The upbeat view from the Organization of the Petr…

(Reuters) — Tesla Chief Executive Officer Elon Musk was named Time magazine’s “Person of the Year” for 2021, a year that saw his electric car company become the most valuable carmaker in the world and his rocket company soar to the edge of space with an all-civilian crew. Musk is …

(Reuters) — The U.S. Federal Reserve, stung by persistently high inflation and encouraged by lower-than-expected unemployment, is set on Wednesday to chart a path of higher interest rates next year as policymakers show their hands on just how soon and how much they think borrowing costs will need t…