2023 US recession now expected to start later than predicted
WASHINGTON — A majority of the nation’s business economists expect a U.S. recession to begin later this year than they had previously forecast, after a series of reports have pointed to a surprisingly resilient economy despite steadily higher interest rates.
4-day workweek trial in UK: Shorter hours, happier employees
LONDON — Work less, get more.
Tom Yamachika: PILOT for real property tax
In late 2021, the City & County of Honolulu’s Real Property Assessment Division inspectors took a look at several parcels of land on which solar farms and other renewable energy projects had been built. The inspectors noted that the land had been granted a super-duper low rate for agricultural use. We’re not sure of the details, but we do know that under section 8-7.3 of the Revised Ordinances of Honolulu, land that has been dedicated to agricultural use for 10 years is assessed for property tax purposes not at fair market value, but at one percent of fair market value.
Bird flu costs pile up as outbreak enters second year
OMAHA, Neb. (AP) — The ongoing bird flu outbreak has cost the government roughly $661 million and added to consumers’ pain at the grocery store after more than 58 million birds were slaughtered to limit the spread of the virus.
US housing market is overvalued by billions due to ignored flood risk
U.S. homes in areas prone to floods may be currently overvalued in the range of $121 billion to $237 billion, according to a report published Thursday in the journal Nature Climate Change.
Google case at Supreme Court risks upending the internet as we know it
An upcoming Supreme Court case could answer one of the toughest questions of the internet age: Should online companies be held responsible for promoting harmful speech?
AutoNation expects used-car price drop as volumes recover
AutoNation Inc., one of the biggest car dealership chains in the U.S., expects prices for new and used cars to decline this year as manufacturers crank up volumes and offer more incentives to price-sensitive buyers.
AP source: QB Derek Carr meeting with Jets this weekend
Free agent quarterback Derek Carr is meeting with the New York Jets this weekend, according to a person familiar with the situation.
Tom Yamachika: Get out, evil! Stay in, good fortune!
At around this time of year, the Japanese celebrate a festival known as Setsubun. While there are regional variations on how to celebrate it, many of them involve roasted beans and an Oni, or demon. According to tradition, people in the household pelt the Oni with the beans while saying, “Oni wa soto! Fuku wa uchi!” which means, “Get out, evil! Stay in, good fortune!”
Business news at a glance
UK economy sputters and barely avoids a recession
Report: Companies’ climate targets not what they claim to be
BERLIN — Climate commitments by companies aren’t always as green as they seem. A new report concludes major brands are exaggerating how ambitious their efforts to cut greenhouse gas emissions are — in effect misleading consumers, investors and governments.
Tom Yamachika: Did you meet your goals this year? Pff, we don’t care
Our Legislature’s 2023 session is definitely cranked up now. Committees are revving up and sending out gobs of notices of hearing for the bills before them. The Legislature is dealing with over 3,000 bills introduced this year, definitely a lot more than usual and may be a record number.
AP source: MLB forms economic group as regional TV in peril
NEW YORK — Concerned about a possible bankruptcy for the company that owns local broadcasting rights to 14 of the 30 Major League Baseball teams, the league has formed a new economic study committee that will gather next week at the owners’ meetings in Palm Beach, Florida.
Europe bans Russian diesel, other oil products over Ukraine
FRANKFURT, Germany — Europe imposed a ban Sunday on Russian diesel fuel and other refined oil products, slashing energy dependency on Moscow and seeking to further crimp the Kremlin’s fossil fuel earnings as punishment for invading Ukraine.
Senate calls on Southwest Airlines operations chief to answer for holiday meltdown
Southwest Airlines chief operating officer Andrew Watterson is slated to testify at a U.S. Senate Committee hearing next week amid calls for the carrier to answer for December’s holiday meltdown when it canceled 16,700 flights.
Tom Yamachika: What’s in the governor’s bill package
Gov. Josh Green recently gave his State of the State address. His office and his agencies dropped a bill package into the legislative hopper. It really feels like we’re in the legislative session now!
Wall Street adds more to its big January after strong week
NEW YORK — A strong week for Wall Street closed out with modest gains Friday, sending the stock market to its highest level since early December.
Japan firm opens whale meat vending machines to push sales
YOKOHAMA, Japan — A Japanese whaling operator, after struggling for years to promote its products amid protests from conservationists, has found a new way to cultivate clientele and bolster sales: whale meat vending machines.
US union membership rate hits all-time low despite campaigns
The U.S. union membership rate reached an all-time low last year despite high-profile unionization campaigns at Starbucks, Amazon, Apple and other companies.
Lawsuit claims woman’s death stemmed from Disneyland fall
SANTA ANA, Calif. — A lawsuit claims Disneyland employees snickered at a disabled woman struggling to get off a Jungle Cruise boat before she fell and broke a leg, leading to her death from an infection five months later.