Local & State | Coast
Guy Harvey’s Island Grill opening in Mount Pleasant
MOUNT PLEASANT -- Guy Harvey’s Island Grill, a chain of family-friendly restaurants with retail stores, will open its sixth venture, in Mount Pleasant on Monday. The 10,000-square-foot space in a former Earth Fare grocery store site will include a restaurant, retail store and art gallery. Harvey — a world-renowned artist, photographer, diver and scientist — has five coastal locations in Florida, Alabama and Grand Cayman.
Southern First takes required steps
GREENVILLE -- Southern First Bancshares Inc., the holding company for Greenville First Bank, said it has taken steps required by federal regulators to reduce its level of credit risk, improve liquidity and revise lending policies. Art Seaver, the bank’s chief executive officer, said the main issues identified in the agreement — the bank’s levels of bad loans and wholesale funding — have already been addressed.
Nation & World
Toyota to restart building new Corolla plant in Mississippi
TOKYO -- Toyota will resume construction of a dormant plant in Mississippi, hiring 2,000 workers with the goal of building compact Corolla sedans by the fall of 2011, the Japanese automaker said Thursday. The plant in Blue Springs, Miss., has been on hold since late 2008, when Toyota suspended construction as the economy fell apart and sales of new cars and trucks collapsed in the U.S. The decision to finish the Mississippi plant also comes just weeks after the company sold off a shuttered factory in California that itself used to build Corollas.
Gauge shows slow growth in economy
NEW YORK -- A gauge of future economic activity rose 0.4 percent in May, signaling slow growth in the U.S. economy lies ahead in the summer and fall. The index has been mostly rising since April 2009, tugged higher by the increasing amount of money in the economy, the rebound in manufacturing and slow improvements in the job market. A stock market rally for much of last year and a boost to the housing market from a federal tax credit, now expired, has helped.
AOL selling Bebo social networking site
NEW YORK -- AOL Inc. is paring its ambitions in online social networking, selling a website called Bebo that it bought a little more than two years ago for $850 million when AOL was still part of Time Warner. Bebo, which launched in 2005, has failed to match the huge popularity of sites like Facebook and Twitter. It has been strong in foreign markets. Worldwide, it had about 12.6 million users in April, less than half of the 26.9 million it had in the same month a year ago.
The (Charleston) Post and Courier, The Greenville News and The Associated Press contributed.