Commercial real estate vacancies remain high as employees choose to work from home, and leases and mortgages face renewal at higher interest rates, a TD Bank economist said Thursday.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness, Maine
Fidium parent company laying off nearly quarter of customer service staff in Maine
The cutting of 12 jobs at Consolidated Communications continues what union and congressional leaders have called a ‘troubling’ trend at Maine’s largest telecommunications company.
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Posted inBusiness, Nation & World
Biden orders U.S. investigation of national security risks posed by Chinese-made ‘smart cars’
The probe could lead to new regulations aimed at preventing China from using sophisticated technology in so-called connected vehicles to track drivers.
Posted inBusiness, Nation & World
Federal Reserve’s preferred inflation gauge picked up last month in sign of still-elevated prices
It’s the latest sign that the slowdown in consumer price increases is occurring unevenly from month to month.
Posted inBusiness, Nation & World, Outdoors
Climate change cost U.S. ski industry billions, study says, and future depends on emissions
A new study says U.S. ski areas lost $5 billion from 2000 to 2019 as a result of human-caused climate change.
Posted inBusiness, Maine, News
Maine’s only Macy’s will be spared from nationwide cuts
The department store that anchors The Maine Mall in South Portland will not be among the 150 locations the company plans to close over the next 3 years, officials said.
Posted inBusiness, Nation & World, News
Apple investors reject call for ethics transparency on company’s AI use
The AFL-CIO investment arm also is pressing other tech and media firms on the issue, including Walt Disney Co., Netflix Inc. and Warner Bros. Discovery Inc.
Posted inBusiness, Nation & World, News
Appellate judge refuses to halt Trump’s $454 million fraud penalty while he appeals
For every day he doesn’t pay, Trump said he’s facing $115,000 in accrued interest on the judgment, which is ‘beyond any permissible or constitutional scope of disgorgement.’
Posted inBusiness, Kennebec Journal, Maine, News
After December storm forced evacuation of Augusta’s Edwards Inn, city deems building unsafe
The Edwards Inn evacuated tenants after December’s pre-Christmas storm because of extensive damage, and the city has deemed it unsafe for occupancy until repairs are made.
Posted inBusiness, Maine, Politics
Maine House approves food waste recycling mandate
The bill would require some large producers of food waste to find beneficial uses rather than put it into the waste stream.