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HAWAII

Judiciary presents tips on avoiding scams

The state judiciary will host a free public information session May 28 to help consumers be more aware of deceptive business practices.

The noon to 1 p.m. session in the Supreme Court courtroom, called "Consumer Alert: Scams and Breach of Contracts," will feature Anne Deschene, president of the Better Business Bureau of Hawaii. She will explain how to file a complaint with the BBB, what happens after a complaint is filed and will give tips on how to avoid common consumer mistakes.

The session is part of the state courts' "Lunch 'n' Learn the Law" program.

The courtroom is in the historic building behind the Kamehameha statue at 417 S. King St.

E Noa, Missouri sign tour deal

The caretaker of the Battleship Missouri Memorial in Pearl Harbor has signed a three-year contract with E Noa Tours to continue providing shuttle services for visitors between the Might Mo and different sites around Oahu.

The Mighty Mo's visitor numbers were up 9 percent in the first quarter from the same period last year, despite the war with Iraq and weak visitor arrivals.

The value of the contract was not disclosed.

MAINLAND

Greenspan says deflation unlikely

WASHINGTON >> Federal Reserve Chairman Alan Greenspan said that forecasts for the U.S. economy to pick up speed in the second half are "not unreasonable" and that the risk of deflation is remote.

The chairman's testimony to Congress suggests central bankers will refrain from lowering interest rates at their late-June meeting. The economy may grow at a 3.8 percent annual rate in the fourth quarter, up from 1.6 percent in the first three months, based on the median forecast in a Bloomberg News survey.

"The consensus expectation for a pickup in economic activity is not unreasonable, though the timing and extent" are uncertain, Greenspan said. "Readings on production and employment have been on the weak side, but the economic fundamentals -- including the improved conditions in financial markets and the continued growth in productivity -- augur well for the future."

The "central question" remains whether companies have enough confidence to increase spending and resume hiring, he told the Joint Economic Committee.

JAPAN

Daiei gets OK for revised plan

TOKYO >> Daiei Inc., Japan's most indebted retailer, said the Ministry of Economy, Trade and Industry approved its revised restructuring plan after Daiei failed to achieve its operating profit target.

Daiei, Japan's third-largest retailer, will strengthen the operations of its food stores through an alliance with Maruetsu Inc. under the revised restructuring plan, the company said in a release distributed today through the Tokyo Stock Exchange.

The Kobe-based company cut its debt repayment goal after reporting on April 18 that second-half operating profit missed its target by a tenth and sales for the period fell 14 percent.

The supermarket chain operator had a group operating profit of ¥20.3 billion ($169 million) for the six months ended Feb. 28, from ¥18.8 billion a year earlier. This was below the company's target of operating profit of ¥22.5 billion for the period.

American to add seats, reduce legroom

FORT WORTH, Texas >> American Airlines, which pulled seats from 875 planes in the past three years to distinguish itself as the carrier with more legroom, will add back seats in 174 aircraft.

The move by AMR Corp.'s American, which affects 23 percent of its current fleet, will help boost revenue while holding down prices as it competes against low-cost carriers, Chief Executive Gerard Arpey said at AMR's annual meeting. "Customers have made it clear in certain markets that price is more important than legroom," Arpey said. He also announced fare cuts on some New York-California nonstop flights.

In other news ...

>> A Florida appellate court tossed out a record-setting $145 billion verdict for thousands of Florida smokers against the tobacco industry, saying the case should not have been tried as a class-action lawsuit.

>> Starwood Hotels & Resorts Worldwide Inc. said today it agreed to sell 14 hotels to a group of investors for about $312 million. None of the hotels are in Hawaii.

>> Hewlett-Packard Co. posted a $659 million second-quarter profit yesterday as the computer giant beat Wall Street's sales and earnings expectations.