Reported by Star-Bulletin staff & wire
Thursday, May 28, 1998
Polynesian center cutting staff by 38
The Polynesian Cultural Center is cutting its work force by 6 percent because of a drop in business, particularly among Asian tourists.Thirty-eight full-time employees will lose their jobs, the center said yesterday.
More than 25 have indicated they will take advantage of a benefits package offered those wanting early retirement or an opportunity to see employment elsewhere, it said.
Fixed mortgage rates fall to 3-month low
WASHINGTON -- The average rate on 30-year fixed-rate mortgages fell to a three-month low of 7.07 percent this week, Freddie Mac, the mortgage company, said today.The decrease from 7.10 percent last week brought the average to the lowest level since mid-February.
Fifteen-year mortgages fell to a nine-week low of 6.72 percent, from 6.75 percent.
On one-year adjustable-rate mortgages, lenders were asking an average initial rate of 5.70 percent, the same as the previous week.
United HealthCare acquiring Humana
MINNEAPOLIS -- United HealthCare Corp. is acquiring Humana Inc. in a $5.5 billion merger of managed health care giants, the companies said today.The merger is part of a steady wave of consolidation in the health care industry, spurred by rising medical costs and intense competition.
The combined company will operate initially under the United HealthCare name and will be based in Minneapolis.
Reports: Government preparing to sue Intel
WASHINGTON -- The government is drawing up a civil antitrust case against Intel Corp., claiming the company abused its monopoly of the computer chip market, according to published reports.The New York Times and The Washington Post today quoted unidentified lawyers familiar with the case as saying the government was expected within the next week to recommend that the Federal Trade Commission pursue a case against Intel, whose microprocessors are used in roughly 90 percent of the world's computers.
See expanded coverage in today's Honolulu Star-Bulletin.
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