The stock market has been struggling under the weight of the bond market, where the yield on the 10-year Treasury briefly topped 5% late Thursday for the first time since 2007.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness, Maine
The Island Institute receives grant to boost small business
The Rockland-based organization received a $86,988 grant from the USDA and plans to use the money to support small businesses located on Maine’s island or coastal towns.
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Posted inBusiness, Nation & World
Long lines at gas pump unlikely, but Middle East crisis could disrupt oil supplies, raise prices
International benchmark Brent crude closed at $93 a barrel on Friday, up from $85 on Oct. 6, the day before Hamas attacked Israel.
Posted inBusiness
$30 million grant to bolster CMP grid a down payment on big projects
The money will be spent installing new devices that allow power to be restored more quickly and often remotely. The limited number of new devices already in service restored power to 74,000 customers in less than five minutes, said CMP.
Posted inBusiness, Nation & World
‘Forever chemical’ bans face hard truth: Many can’t be replaced
Minnesota and Maine have passed legislation to effectively outlaw the use of per- and polyfluoroalkyl substances, or PFAS, in nearly all products by the early 2030s.
Posted inBusiness, Nation & World
Health providers say AI chatbots could improve care. But research says some are perpetuating racism
Experts worry these systems could cause real-world harm and amplify forms of medical racism that have persisted for generations as more physicians use chatbots for help with daily tasks such as emailing patients or appealing to health insurers.
Posted inBusiness
Maine unemployment ticks up in September, but still near record low
September’s jobless rate of 2.7% is a slight increase over August’s 2.5 %.
Posted inBusiness, Nation & World, News
UAW’s chief says strikes will continue in bid for better offers from companies
The union’s strikes at targeted plants at each company, began on Sept. 15 and are nearing the start of their sixth week.
Posted inBusiness, News
Wilton enacts moratorium on cannabis licenses
A special town meeting was held on Tuesday to enact a moratorium on cannabis licenses in the town of Wilton.
Posted inBusiness, Nation & World, News
Feds OK natural gas pipeline expansion in Pacific Northwest over environmentalist protests
The project, known as GTN Xpress, aims to expand the capacity of the Gas Transmission Northwest pipeline – which runs through Idaho, Washington and Oregon – by about 150 million cubic feet of natural gas per day.