Interest rate increases intended to stem inflation are making it increasingly costly for consumers and businesses to borrow – for homes, autos and other purchases.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness, Nation & World
‘Art of the steal’: Trump accused of vast fraud in New York suit
Meanwhile, the Trump Organization is set to go on trial in October in a criminal case alleging that it schemed to give untaxed perks to senior executives.
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Posted inBusiness, Nation & World, News
U.S. home sales slipped, prices grew more slowly in August
Sales of previously occupied U.S. homes slowed in August for the seventh month in a row.
Posted inBusiness, Nation & World, News
Walmart to hire 40,000 mostly seasonal workers for holidays
The nation’s largest retailer and largest private employer said it’s in a stronger staffing position heading into the holidays than last year and is now focusing on hiring only seasonal workers, rather than permanent workers.
Posted inBusiness, News
Gap slashes 500 corporate jobs in cost-cutting move
The job cuts follow years of struggle at the San Francisco-based retailer, which operates its namesake stores as well as the Old Navy, Banana Republic and Athleta chains.
Posted inBusiness, News
Stocks close lower ahead of Fed decision on interest rates
Stocks closed lower on Wall Street ahead of a key decision on interest rates by the Federal Reserve.
Posted inBusiness, Nation & World
NTSB wants all new vehicles to check drivers for alcohol use
In 2020, 30% of all U.S. traffic deaths were alcohol-related .
Posted inBusiness, Maine
Jay paper mill to close in early 2023
Gov. Janet Mills issued a statement saying the state offered its support to try to keep the mill open, but company leaders said there was nothing they could do.
Posted inBusiness, Maine, News
Summit Natural Gas request for higher rates has some Mainers fuming, questioning
A decade since the company came to the state, enthusiasm for the energy provider has been dampened by high costs and slow service expansion.
Posted inBusiness
Britain’s prime minister doesn’t expect U.K.-U.S. trade deal anytime soon
She says her priorities are working to be part of the Trans-Pacific Partnership and making trade agreements with India and Saudi Arabia.