Meanwhile, most traders expect the Fed to raise the short-term rate by another quarter of a percentage point this week.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness, Nation & World, News
Bill would let 14-year-olds serve alcohol in Wisconsin
Two GOP lawmakers say their idea ‘creates a simple solution’ to the state’s workforce shortage problems in the food and beverage industry.
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Posted inBusiness, Nation & World, News
World’s workers rally for economic justice on May Day
While marchers were largely peaceful, violence by radicals marred the message, notably in Paris.
Posted inBusiness, Maine, Nation & World
Supreme Court to consider case involving fishing boat monitor pay
The lawsuit over fishing monitors is part of a long-standing fight between commercial fishing groups and the federal government over who pays for data collection and regulatory compliance.
Posted inBusiness, News
Maine’s medical cannabis market seeing a ‘mass exodus’ of caregivers
A new report from the state shows more than one-fourth of the individuals in the occupation have quit since 2021, often in response to an overabundance of cannabis supply.
Posted inBusiness, Maine, News
CMP, public advocate in negotiations to settle rate hike request
A meeting is slated for Wednesday in confidential talks between Central Maine Power and the public advocate over a proposed increase that would take effect Sept. 1.
Posted inBusiness, Nation & World, News
First Republic Bank seized, sold to JPMorgan Chase
Regulators have seized troubled First Republic Bank and sold all of its deposits and most of its assets to JPMorgan Chase Bank in a bid to head off further banking turmoil in the U.S.
Posted inBusiness, Community
Good Shepherd Food Bank appoints interim president
Good Shepherd Food Bank has appointed Bryan O’Connor of Cumberland to be interim president of the organization effective July 1. O’Connor is vice president of finance and administration. As interim president, O’Connor will work in partnership with the board of directors and senior leadership to ensure organizational continuity as the nationwide search for a permanent […]
Posted inBusiness
Fed says it must strengthen banking rules after SVB’s collapse
The Federal Reserve and the FDIC faulted managers at Silicon Valley Bank and Signature Bank – and also federal regulators – for the crisis last month.
Posted inBusiness
New report blames airlines for most flight cancellations
Weather was the leading cause of cancellations in the two years before the pandemic, but the percentage of airline-caused cancellations began increasing in early 2021.