The policymakers said the economy is growing at a solid pace, while hiring has ‘remained strong’ and there has been ‘modest’ further progress toward its 2% inflation target.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness, Maine, News
CMP bills to rise at least $10 a month; destructive storms blamed
State regulators approve the increase to cover the $220 million cost of restoring power after recent storms, and promise a proceeding in the ‘near future’ to consider how to balance storm response with affordability.
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Posted inBusiness, Nation & World
A brew of ancient coca is Bolivia’s buzzy new beer. But it’s unclear if the world will buy in
A United Nations convention classifies coca leaf as a narcotic and imposes a blanket prohibition on drugs. However, last fall the World Health Organization announced it would launch a scientific review of coca’s non-narcotic benefits.
Posted inBusiness, Maine
Maine to receive $4.8 million in multistate baby powder settlement with Johnson & Johnson
The $700 million settlement resolved disputes over deceptive marketing practices by Johnson & Johnson for talcum powder.
Posted inBusiness, Lewiston-Auburn, News
Lewiston Planning Board approves massive Continental Mill redevelopment
The project includes 377 market rate apartments, commercial spaces and restaurant space at the massive mill complex.
Posted inBusiness, Nation & World
Watchdog investigates UAW president, accuses union of being uncooperative
The monitor says the union has made employees and senior leaders available for interviews but hasn’t provided relevant documents in a timely manner.
Posted inBusiness, Nation & World
U.S. gas prices falling. Experts point to mild demand ahead of summer travel
If there are no major unexpected interruptions, prices could keep trending down.
Posted inBusiness, Maine
CMP agrees to small cut in storm reimbursement request after criticism over unjustified spending
Maine’s largest utility also agreed to improve how it documents its preparation for storms and recovery afterward to better justify reimbursement from ratepayers.
Posted inBusiness, New England, News
Martha’s Vineyard is about to run out of pot. That’s led to a lawsuit and a scramble by regulators
Although Massachusetts voters opted to legalize marijuana more than 7 years ago, the state’s Cannabis Control Commission has taken the position that transporting pot across the ocean risks running afoul of federal laws.
Posted inBusiness, Nation & World, News
Promotions are becoming rarer, blocking entry-level workers from even starting
A main feature of the 2024 labor market is that fewer workers are quitting. A lesser-known one is that fewer are getting promoted.