Despite much higher borrowing costs, thanks to the Federal Reserve’s aggressive streak of interest rate hikes, consumers keep spending, and employers keep hiring.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness, Nation & World
More than $200 billion in COVID-19 aid may have been stolen, federal watchdog says
A report by the U.S. Small Business Administration inspector general says at least 17 percent of loans were awarded ‘to potentially fraudulent actors.’
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Posted inBusiness, News
Maine home sales continued a familiar trend in May
The decline in sales volume and run-up in prices were similar to those in previous months, but an expert says there’s a ‘glimmer of hope’ for potential buyers.
Posted inBusiness
Still hiring: Big Tech layoffs give other sectors an opening
The federal government is making the most aggressive effort to hire thousands of software engineers, data scientists and cybersecurity specialists.
Posted inBusiness, Maine, Morning Sentinel
Photos: Cafe and bakery becomes mainstay in Pittsfield
PoponOvers has been operating for several years on Main Street in Pittsfield and has developed a loyal following for those looking for a fresh meal or tasty baked treat. And don’t forget about the ice cream, too. Photos by Morning Sentinel photographer Rich Abrahamson.
Posted inBusiness, Maine, News, Politics
Gov. Mills vetoes bill to attract offshore wind development, citing labor requirements
The bill originated from the governor’s office but was amended on the Senate floor this month to include a requirement that future projects include bargaining argreements, something she opposes.
Posted inBusiness, Nation & World
Judge gives preliminary approval to $290 million deal JPMorgan Chase reached with Epstein victims
Lawsuits are still pending between the U.S. Virgin Islands and JPMorgan Chase.
Posted inBusiness, Maine, News
Northern Maine power line project moves forward, slowly
If built as planned, the Aroostook Renewable Gateway Project could create hundreds of jobs and tens of millions of dollars in local tax revenue.
Posted inBusiness, Maine, Morning Sentinel
Inspection report reveals code, safety violations that forced closure of Waterville restaurant
A city official said the owner of Cancun Mexican Restaurant has not responded to an order issued earlier this month to fix several deficiencies before the eatery can reopen.
Posted inBusiness, Maine, News
Maine will get $272 million in federal funds to expand broadband
More than $42 billion has been allocated nationwide to expand high-speed internet access, and Maine’s share is the largest of any state in New England.