The most affluent buyers keep plunking down big money for new vehicles, including the least fuel-efficient among them – trucks, SUVS, large sedans.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness, Nation & World
Biden picks Michael Barr for Fed’s bank regulation post
The selection of the dean of the University of Michigan’s public policy school comes after the president’s first choice, Sarah Bloom Raskin, withdrew her nomination in the face of opposition from Republicans and one Democrat.
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Posted inBusiness, Maine, Politics
Legislature approves reimbursing towns that allow retail marijuana sales
The bill aims to increase the number of municipalities participating in the adult-use program.
Posted inBusiness, Maine, Morning Sentinel
Ulta Beauty to open store in Waterville plaza
A spokeswoman for Ulta Beauty said the store is in the early stages of planning but is scheduled to open later this year.
Posted inBusiness, Maine, Politics, Sports
Maine House advances bill to legalize sports betting
The bill would grant Maine’s tribes with exclusive rights to operate all mobile sports betting in the state, while casino operators would be allowed to conduct in-person sports betting.
Posted inBusiness, Nation & World
Twitter adopts ‘poison pill’ defense in Musk takeover bid
The strategy would allow existing shareholders to buy additional shares at a discount, diluting the ownership stake of billionaire Elon Musk, who has offered to buy the company for $43 billion.
Posted inBusiness, Nation & World
U.S. seafood imports fuel Russian war machine
Fishing is big business in Russia, one closely linked to the Kremlin and Vladimir Putin’s projection of power at sea.
Posted inBusiness, News
Regulators approve CSX’s purchase of Pan Am Railways
The deal will expand CSX’s 23-state network into Vermont, New Hampshire and Maine while adding to its reach in New York, Connecticut and Massachusetts.
Posted inBusiness
Retail sales rise modestly in March amid soaring inflation
Retail sales increased 0.5 percent as shoppers still showed resilience in spending.
Posted inBusiness
Big bank profits decline as deal-making, mortgages slow
Banks are often seen as a proxy for the overall economy, and the first quarter of 2022 has been considerably rougher than a year earlier.