Business

(Reuters) — U.S. worker productivity in the second quarter fell at its steepest pace on an annual basis since 1948 when the Labor Department began tracking it, while growth in unit labor costs accelerated, suggesting strong wage pressures will continue to help keep inflation elevated. Nonfarm produ…

(Reuters) — U.S. consumer prices are expected to have risen at a much slower pace in July due to a sharp drop in the cost of gasoline, delivering the first notable sign of relief for Americans who have watched inflation climb over the past two years. The Consumer Price Index or CPI likely rose 0.2%…

(Reuters) — Another day, another hack, and another blockchain bridge burned. When thieves stole an estimated $190 million from U.S. crypto firm Nomad last week, it was the seventh hack of 2022 to target an increasingly important cog in the crypto machine: Blockchain “bridges” —  strings…

(Press Release) —  Matson has announced that Stephen Gatewood was promoted to sales and customer service manager for Guam and Micronesia, effective July 1, 2022. Gatewood brings a wealth of business and sales and marketing experience to his new position and previously served in an operations role o…

(HANMI) — The Hotel Association of the Northern Mariana Islands reported a 34% average occupancy rate among its 12 member hotels for July 2022, compared to the 16% average occupancy in July 2021. A total of 15,232 of 45,259 available room nights sold during July 2022, compared to 6,042 of 36,753 av…

(NMC) — Summit Auto Repair Shop is the latest company to sign on as a Northern Marianas College ProaPerks Partner. All card-carrying members of the NMC ProaPerks program can now receive a 10% discount on oil change, tune up, body and car repairs. Summit Auto Repair Shop, joins the growing list of P…

(Marianas Visitors Authority) — Arrivals to Saipan, Tinian and Rota grew 1,618% percent to 10,411 visitors in June 2022, compared to 606 visitors received in June 2021. The figure marks the first month of arrivals exceeding 10,000 visitors since the start of the coronavirus pandemic in 2020. The fi…

(Reuters) —  Business investment appears to be an early victim of red-hot U.S. inflation and rising interest rates. Nonresidential fixed investment, which is how the Commerce Department lumps together things like spending by businesses on new buildings and renovations of existing ones, slipped 0.1%…

(Reuters) — The slide in U.S. stock prices punished Berkshire Hathaway Inc’s bottom line in the second quarter, as the conglomerate run by billionaire Warren Buffett on Saturday reported a $43.8 billion loss. Berkshire nevertheless generated nearly $9.3 billion of operating profit, as gains f…

(Reuters) — The U.S. Federal Reserve should consider more 75 basis-point interest rate hikes at coming meetings in order to bring high inflation back down to the central bank’s goal, Fed Gov. Michelle Bowman said on Saturday. “I supported the FOMC’s decision last week to raise the…