Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness, Nation & World, News
Powell’s stark message: Inflation fight may cause recession
The Federal Reserve also forecast more jumbo-size hikes to come, raising their benchmark rate to roughly 4.4 percent by year’s end.
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Posted inBusiness
Stocks slump on Wall Street as Fed steps up inflation fight
The major indexes are on pace for their fifth weekly loss in six weeks.
Posted inBusiness, Nation & World
Alaskans pocket over $3,000 in annual oil-wealth payments
The fund was established during construction of the trans-Alaska pipeline in the 1970s and now is worth $73.6 billion.
Posted inBusiness
U.S. gas prices tick up, ending 99-day streak of lower costs
The nationwide average for a gallon rises less than a penny to $3.68.
Posted inBusiness, Nation & World, Sports
About $400 million spent on California campaign to legalize sports betting
The two propositions pit tribes against online gambling companies.
Posted inBusiness, News
Worker who lost 2 paper mill jobs encourages those at Jay
Curtis Brooks of Jay remembers the loss, but says there are good-paying jobs out there.
Posted inBusiness, Maine, News
After lobster ruling, federal regulators mull how to quickly reduce risks for right whales
Among possible measures: limits on traps, reductions in the number of lines and a longer seasonal closure of lobstering waters.
Posted inBusiness, Maine, News
Maine home sales fell again in August, while prices rose, but market may be leveling off
The number of sales fell by double digits, and the median sale price increased by about the same percentage. Mortgage rates are climbing and could be a wild card.
Posted inBusiness, Nation & World, News
Fed attacks inflation with another big interest rate hike and expects more
By raising borrowing rates, the Fed makes it costlier to take out a loan. Consumers and businesses then presumably borrow and spend less, cooling the economy and slowing inflation.