Advertisement - Click to support our sponsors.

Business Briefs

Reported by Star-Bulletin staff & wire

Thursday, September 28, 2000

Retail Merchants plan annual meeting

Retail Merchants of Hawaii plans to hold its annual conference on Oct. 19 at the Hilton Hawaiian Village Coral Ballroom. The meeting's theme is "Quarterbacking the Future of Retail"

Highlights will include the "Ho"okela" Awards luncheon for retailers. The conference also will include workshops on security tactics, creative media strategies, and on how to increase foot traffic.

The meeting costs $95 for nonmembers and $75 for members. Oct. 12 is the deadline for registering. For more information, call Carol Pregill, president of Retail Merchants, at 592-4200.

Mortgage rates fall to 7.88 percent

McLEAN, Va. -- The average rate on a 30-year mortgage stayed below 8 percent for the seventh week in a row, Freddie Mac said today. The 30-year, fixed-rate mortgage fell to 7.88 percent this week from 7.90 percent last week, said mortgage broker Freddie Mac said today.

Freddie Mac also said the average rate on a one-year adjustable mortgage fell to 7.21 percent this week from 7.27 percent last week.

The average rate on a 15-year mortgage was 7.53 percent, compared with 7.57 percent a week earlier.

In other news . . .

CUPERTINO, Calif. -- Apple Computer Inc. warned late today that its fiscal fourth-quarter profit will fall short of analysts forecasts due to slow sales of new products and computers for students. Apple expects to report a profit of 30-to-33 cents a share compared to analysts estimates of about 45 cents. The company's shares plummeted to near the $30 level in after-hours trading.

SANTA CLARA, Calif. -- Exodus Communications Inc. agreed to buy Global Crossing Ltd.'s GlobalCenter unit for $6.53 billion in stock, strengthening its position as the world's biggest operator of companies' Web sites.

COPENHAGEN, Denmark -- A majority of voters refused to adopt the European Union's beleaguered currency as their own today, reflecting Denmark's traditional go-slow approach toward European integration.