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Business Briefs

Reported by Star-Bulletin staff & wire

Thursday, July 6, 2000

Seminar to focus on cyber crime

A Silicon Valley expert on "cyber crime" -- criminal high-technology activities such as the theft of trade secrets through the Internet -- will be the keynote speaker at a seminar in Honolulu on July 18. Sergeant Don L. Brister is head of the high-technology crimes detail in the San Jose Police Department's fraud unit. Also at the seminar, Les McCarter, chief technology officer of Honolulu Internet security firm TeraBiz, will demonstrate how to make computers secure. The seminar is sponsored by TeraBiz, American Airlines and Outrigger Hotels & Resorts.

The 9 a.m.-to-noon event at the Neal Blaisdell Center costs $20 per person. For reservations call 540-5405.

Hawaii still high in retail survey

After a seven-month run showing the fastest retail-sales growth in the nation, Hawaii slipped back to second place behind Wisconsin last month, according to a nationwide survey.

TeleCheck Services Inc., a leading check-authorization company, said retail sales by check rose 5.3 percent in Hawaii last month, compared to the previous June. Sales in Wisconsin rose 5.4 percent and the national year-over-year increase for June was 3.4 percent. Each month, TeleCheck tallies the dollar value of purchases paid for by check in stores across the nation.

TeleCheck says purchases by check are a good indicator of overall retail sales because they account for one-third of all purchases.

30-year mortgages decline to 8.16%

McLEAN, Va. -- The 30-year, fixed-rate mortgage declined to 8.16 percent this week from 8.22 percent last week, mortgage brokerage Freddie Mac said today.

The average rate on a one-year adjustable mortgage rose to 7.27 percent from 7.26 percent. The average 15-year mortgage rate fell to 7.88 percent from 7.92 percent. Since reaching a five-year high in May, the 30-year mortgage rate has drifted lower on signs Federal Reserve interest-rate increases are starting to cool the economy. The Fed held the line on the overnight bank lending rate at their meeting last week.