Business

WASHINGTON (Reuters) —  U.S. consumer spending surged in June as vaccinations against Covid-19 boosted demand for travel-related services, but part of the increase reflected higher prices, with annual inflation accelerating further above the Federal Reserve’s 2% target. Though personal income…

(Press Release) —  Bank of Hawaii is now accepting applications for the I Kinometi Para I Kumunidåt I Islå-ta Small Business Revitalization and Development Grant for projects that stimulate small business development and economic activity on Saipan. Small business owners with a successful track rec…

(Reuters) — Amazon.com Inc needs to spend billions of dollars to expand its warehouse and delivery system, adding pressure to its shares which dropped 7% on Friday after it forecast lower sales growth. The company is racing to meet demand even though shoppers are venturing more outside the home and…

(Reuters) — Led by Facebook, social media platforms from Alphabet’s YouTube to Snap Inc and Twitter are investing heavily in shopping features to drive revenue growth, a major theme that emerged during second-quarter results over the past week. The companies are vying for a piece of the so-ca…

WASHINGTON (Reuters) — The U.S. economy grew solidly in the second quarter, pulling the level of gross domestic product above its pre-pandemic peak, as massive government aid and vaccinations against Covid-19 fueled spending on goods and travel-related services. The pace of GDP growth reported by t…

WASHINGTON (Reuters) — The U.S. economy contracted at a record average annualized rate of 19.2% from its peak in the fourth quarter of 2019 through the second quarter of 2020, government data showed on Thursday, confirming that the Covid-19 recession was the worst ever. The pace of recovery from th…

(Reuters) — Global sales and profit for McDonald’s Corp surged past Wall Street targets on Wednesday as restaurants reopened despite staffing shortages and consumers lapped up a wildly popular celebrity meal inspired by South Korean pop band BTS. The fast-food chain also raised its guidance f…

WASHINGTON (Reuters) — The Federal Reserve will conclude its latest policy meeting on Wednesday weighing the risks of a Covid-19 resurgence in the United States and a potentially slower economic recovery against a developing inflation threat that had been its main focus. Fed officials are expected …

OVER 140 businesses have expressed interest in being included in the Safe Travels Marianas program, according to Saipan Chamber of Commerce president Joseph Guerrero. “I think that the more businesses that we have registered as a safe place  would make our visitors and residents feel comfortable th…

(Reuters) — United Parcel Service Inc shares fell to a three-month low on Tuesday on worries that growth from the pandemic-fueled e-commerce boom may be fading. The company said second-quarter domestic volume fell 2.9%, with ground —  composed largely of e-commerce deliveries — dropping 4% versus t…