The specialty textile manufacturer battled through COVID-19 and took on the Chinese for targeting her business.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness, Nation & World
U.S. economy accelerated unexpectedly to 2.4% growth rate despite Fed hikes
Driving the gain was a burst of business investment.
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Posted inBusiness, News
Wex will invest $100 million in the future of electric vehicles
The strategy might seem like a shift for the Maine-based payment processing company, but it’s long been involved in the EV industry.
Posted inBusiness, Nation & World, News
DeSantis appointees reach deal with Disney World’s firefighters, capping years of negotiations
The contract, among other provisions, would increase wages by 5%, including raising the starting annual wage for firefighter and paramedics from $55,000 to $66,000.
Posted inBusiness, Nation & World, News
Residents are at a loss after newspaper that bound community shuts in declining coal county
Months after the last newspaper closed in a declining coal community in West Virginia, residents say they are already experiencing challenges getting and sharing information.
Posted inBusiness, Nation & World, News
Federal Reserve raises its key rate for 11th time by a quarter-point in its drive to slow inflation
Coming on top of its previous rate hikes, the Fed’s latest move could lead to further increases in the costs of mortgages, auto loans, credit cards and business borrowing.
Posted inBusiness, Lewiston-Auburn, Maine, Nation & World, News, Politics
Biden will be first sitting president to visit Auburn since 1912
When Biden speaks at Auburn Manufacturing on Friday, he will be only the fifth president to visit the Twin Cities while in office.
Posted inBusiness, Nation & World, News
Auto loan rejections are up as Federal Reserve keeps raising rates
Mortgage rates, which have surged since the Fed began lifting rates in March 2022, could rise further. So could rates on credit cards and some business loans.
Posted inBusiness, Maine, News
The Portland Phoenix publishes final issue
The owners of the weekly newspaper, which restarted after a shutdown in 2019, said the pandemic kept them from attracting enough advertisers.
Posted inBusiness, Nation & World, News
UPS reaches contract with 340,000 unionized workers, averting calamitous strike
The Teamsters called the tentative agreement ‘historic’ and ‘overwhelmingly lucrative’ in a prepared statement. It includes, among other benefits, higher wages and air conditioning in delivery trucks.