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Reported by Star-Bulletin staff & wire
Thursday, June 15, 2000
Canadian Air to fly Honolulu-Sydney
Canadian Airlines is set to inaugurate new daily flights between Honolulu and Sydney, Australia, beginning July 3. The new daily flight schedule also gives Hawaii more connections through Canada to major European cities, such as London and Rome, the Hawaii Visitors & Convention Bureau said yesterday."Last year brought an increase in the number of visitors from Australia, and with new air service, we anticipate a surge of renewed interest in Hawaii from Down Under," Tony Vericella, the HVCB's president and CEO said.
Canadian Airlines recently increased its Toronto-Honolulu service from five times a week to daily. More than 310,000 visitors arrived in Hawaii from Canada in 1998, a 5 percent increase over 1997. And more than 80,000 visitors from Australia arrived in Hawaii last year, a 14 percent increase over 1998.
30-year mortgages average 8.22%
McLEAN, Va. -- The average interest rate on a 30-year, fixed-rate mortgage fell this week to the lowest level since April, according to mortgage broker Freddie Mac's survey. The 30-year, fixed-rate mortgage fell to 8.22 percent this week from 8.32 percent. The average rate on a one-year adjustable mortgage fell to 7.21 percent this week from 7.24 percent. The average 15-year rate fell to 7.91 percent from 8.04 percent.
AT&T completes MediaOne deal
NEW YORK -- AT&T Corp. completed its purchase of MediaOne Group Inc. for almost $44 billion, becoming the largest U.S. cable television provider serving more than 40 percent of pay-TV households.The acquisition was completed for $23 billion in cash and 606 million shares worth $20.3 billion based on AT&T's share price of $33.50 yesterday, Bloomberg News reported. The Federal Communications Commission approved the combination last week, but required AT&T to dispose of some cable assets to comply with cable ownership rules limiting a single company to serving 30 percent of pay-TV homes.