The U.S. economy shrank from April through June for a second straight quarter, contracting at a 0.9% annual pace and raising fears that the nation may be approaching a recession.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness, Nation & World
Facebook parent Meta posts first revenue decline in history
Competition from rival TikTok intensifies as Facebook and Instagram’s parent company Meta posted its first revenue decline in history Thursday.
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Posted inBusiness, Nation & World, News
Workers at Massachusetts Trader Joe’s to vote to form chain’s first union
Employees at a Trader Joe’s in Massachusetts are casting votes over the next two days in an attempt to form the supermarket chain’s first union.
Posted inBusiness, Nation & World, News
Gun makers have sold AR-15-style guns as a sign of manhood as shootings rise
The industry has taken in more than $1 billion from selling the weapons, which have been used in mass shootings, over the last decade.
Posted inBusiness, Maine, News
At summer’s peak, tourism has been a mixed bag so far in Maine
Visitors are still coming, but higher gas and other prices have some reining in their spending.
Posted inBusiness, Maine, News
Bar Harbor struggles with cruise ship limits, and Portland could be next
A citizen petition seeks a 1,000-person-a-day cap on ship passengers entering Bar Harbor, and a similar effort is underway in Portland.
Posted inBusiness
Grim news from Walmart sends U.S. markets lower
The sell-off comes ahead of the Federal Reserve’s latest interest rate policy statement on Wednesday.
Posted inBusiness, Nation & World
Volkswagen starts electric vehicle assembly in Tennessee
The Chattanooga plant currently employs more than 4,000 people.
Posted inBusiness
Visa’s profits jump 32% as consumers start traveling again
The company earns a small fee from every transaction that crosses its network, depending on the type of transaction and the merchant who used it.
Posted inBusiness, Nation & World
Oil-funded Rockefeller Foundation focuses on fight for climate change
It plans to take a year to study where it can make the most impactful partnerships and investments.