Alphabet unveils beefed-up AI chatbot as competition heats up
CEO Sundar Pichai said the company is rolling out AI Overviews to all users in the U.S. this week after a long period of public testing since last year. Read more
Business
Hawaii, national and international business and economic news.
IMF endorses Japan’s commitment to flexible yen
The IMF’s executive board also said further hikes in the Bank of Japan’s (BOJ) short-term policy rate should “proceed at a gradual pace and be data-dependent.” Read more
HART director receives support at Council
The embattled leader of Honolulu Authority for Rapid Transportation received support this week from four members of the nine-member City Council. Read more
On the Move: Hawaii Foundation
Hawaii Foundation has announced the appointment of two people to its board of governors. Read more
Melinda Gates to exit the Gates Foundation
“Under the terms of my agreement with Bill, in leaving the foundation, I will have an additional $12.5 billion to commit to my work on behalf of women and families,” Melinda Gates said on social media platform X, without disclosing more details about her plans. Read more
OpenAI unveils new AI model as competition heats up
The new audio capabilities enable users to speak to ChatGPT and obtain real-time responses with no delay, as well as interrupt ChatGPT while it is speaking, both hallmarks of realistic conversations that AI voice chatbots have not had until now, the OpenAI researchers showed at a livestream event. Read more
Kraft Heinz exploring sale of Oscar Mayer business, WSJ reports
The packaged food maker has tapped Bank of America and Centerview Partners to gauge interest in the business, the report said. Read more
Tesla settles factory worker’s sexual harassment lawsuit
U.S. District Judge William Orrick in San Francisco dismissed Tyonna Turner’s 2023 lawsuit on Monday, one day after she and Tesla informed the judge of the settlement. Terms of the deal were not disclosed. Read more
Biden plans tariffs on China’s EVs, solar, medical supplies
In revising the so-called “Section 301 tariffs,” the Biden administration has zeroed in on industries that it says are of strategic competitive and national security areas. Read more
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Highgate morphs into most rapidly growing hotel company in Hawaii
BJ Kobayashi, chairman and CEO of BlackSand Capital, said, “It’s one of the fastest growth trajectories that I’ve seen in a short period of time not just in hospitality, but in any industry.” Read more
Trash company plagued with staffing shortages
Missed and delayed trash pickups by a private refuse company that brought pests and foul odors to housing complexes across the island were the result of ongoing staffing shortages. Read more
Massive Los Angeles real estate project has Hawaii connection
Nathan Fong, a Colliers executive vice president who is based in Hawaii and California, is joined by Hawaii-based company vice president Andy Y. Kazama as part of the Oceanwide Plaza sales team. Read more
Billionaire investor calls on Harvard to embrace ‘Western values’
Griffin, the founder of U.S. hedge fund Citadel, said that the U.S. had “lost sight of education as the means of pursuing truth and acquiring knowledge” over the past decade. Read more
Musk’s Starlink satellites disrupted by major solar storm
Starlink owns around 60% of the roughly 7,500 satellites orbiting Earth and is a dominant player in satellite internet. Read more
McDonald’s considering $5 meal deal launch to draw diners
Global restaurant chains such as McDonald’s and Starbucks have seen lower-income customers opting to eat more meals at home amid a cost-of-living crisis. Read more
Miss USA resignation reveals toxic work culture
Some people believed Voigt’s Instagram post announcing her resignation contained a secret message. Read more
Hawaii’s first Tokyo Central opens in Kailua
Doors opened at 10 a.m. to a crowd of curious customers, who entered beneath an archway of balloons. Read more
Fed debates rate adequacy amid inflation surge
Many U.S. central bank officials, including Fed Chair Jerome Powell, have said they still think further rate hikes will prove unnecessary. Read more
Japan closely monitoring weak yen, prime minister warns
Japanese authorities are suspected to have intervened in the currency market last week to prop up the yen, which has been languishing at lows not seen for more than three decades. Read more
Agency investigates 210K Ford trucks over fuel leaks, fires
The National Highway Traffic Safety Administration said its Office of Defects Investigation has received 27 complaints, including 12 reports of fires and a total of four injuries. Read more
Personal income in Hawaii might contract this year
A shrinking population and a weak labor force will constrain Hawaii’s economy this year and cause inflation-adjusted personal income growth to slow along with broader measures of economic health. Read more
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