Business Briefs

Reported by Star-Bulletin staff & wire

Monday, July 8, 1996

Bank of America-Hawaii
wins state contract

The state has awarded a three-year contract to Bank of America-Hawaii to provide cash management services for the state Treasury.

Under the contract, which went into effect July 1, Bank of America will offer depository, check processing, electronic payment and balance reporting services for more than $6 billion in state treasury funds each year.

The contract is worth about $400,000 a year in fees for the bank, according to the state.

"We ... look forward to working with the state at providing highly efficient, cost effective services for managing the state's cash," said Hugo Ferrero, vice president at Bank of America.


Survey: June layoffs fell
from 1995 numbers

CHICAGO - The number of planned job cuts by major U.S. businesses declined 0.5 percent in June from a year earlier, a survey showed on Monday, further evidence the U.S. economy is expanding.

Announced firings totaled 40,163 last month, down from 40,375 during June 1995, according to the survey by the employment firm Challenger, Gray and Christmas.

Still, the total for the month was the highest since January, and compared to a month earlier, planned job cuts increased by 31.0 percent, Bloomberg Business News reported.

Additionally, for the first six months of the year, planned firings were running 27.7 percent ahead of the first six months of last year.


For more local, national and international business news,
see the Hawaii Inc. section in today's Honolulu Star-Bulletin.



Text Site Directory:
[News] [Business] [Features] [Sports] [Editorial] [Community] [Info] [Stylebook] [Feedback]