Business Notebook

Available office space in the Capital City area hit a five-year low during the second quarter of the year, Colliers International said Wednesday in its occupancy report.

The overall vacancy rate is 16.6 percent, down 0.7 percent from the first quarter of 2015 and 0.8 percent below the second quarter of 2015, according to Colliers.

Columbia’s central business district and the St. Andrews area market had the lowest vacancy rates, 10.5 and 9 percent, respectively.

The St. Andrews submarket – stretching from St. Andrews Road at I-26 to Irmo – has the most expensive suburban office space, with an average of $15.04 per square foot because of a tightening market, the report states.

The number of people seeking U.S. unemployment aid rose slightly last week, but remained at a historically low level that signals an improving job market.

The Labor Department says applications rose 3,000 last week to a seasonally adjusted 271,000. That’s not far from the 15-year low reached in April of 262,000. The four-week average, a less volatile measure, declined to 273,750.

Toyota public relations chief quits after drug arrest

The U.S. public relations chief of Toyota Motor resigned Wednesday, the automaker said, offering her notice from a Japanese jail following her arrest nearly two weeks ago on suspicion of illegally bringing a restricted painkiller into the country.

The arrest of the executive, Julie Hamp, has been an embarrassment for the automaker, which had only recently promoted her as part of an effort to introduce more diversity into its executive suite. She was the highest-ranking woman at the company and one of the most senior executives who was not Japanese.

Hamp has been in custody since June 18 and has not been formally charged.

IN BRIEF

▪  Maximum fines for carnival ride accidents in North Carolina would rise exponentially in legislation that’s now passed both chambers in one version or another. The Senate voted unanimously Wednesday for a measure that increases the top civil penalties fivefold, reaching $5,000 per violation in some situations. The House approved different increases in March and must decide whether to accept the Senate’s changes.

▪  Shareholders of Kraft Foods Group on Wednesday morning in Pittsburgh voted overwhelmingly to approve the merger of their Illinois company with Pittsburgh ketchup maker H.J. Heinz Co., clearing the way for a pairing of the historic food industry names. More than 98 percent of votes cast at the special meeting in Chicago favored the deal, according to an official announcement.

▪  Shyp, the quickly growing San Francisco startup that provides on-demand courier services, said Wednesday it would reclassify its contract workers as employees, becoming the latest high-profile tech company to change how it compensates its workforce. Among the benefits will be workers’ compensation, couriers’ vehicle expenses – an enormous cost to anyone driving for delivery or car-booking services.

From Staff and Wire Reports.

This story was originally published June 30, 2015 at 8:00 PM.