If Russia’s creditors don’t get the cash in dollars within the 30-day grace period that starts on Thursday, it would be the first time the nation defaulted on foreign-currency bonds since the Bolsheviks repudiated the czar’s debts in 1918.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness, Nation & World, News
U.S. rent inflation hits new high, led by Miami with 39% rate
Single-family rental prices jumped 12.6% from a year earlier, according to the latest CoreLogic Single-Family Rent Index.
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Posted inBusiness, Nation & World
California settles with ‘drinkable sunscreen’ maker
UVO agrees to a legal settlement to resolve allegations of deceptive advertising.
Posted inBusiness, Nation & World
Gas prices send British prime minister to UAE, Saudi Arabia
Boris Johnson presses the leaders to release more oil and invest in the U.K.’s renewable energy transition.
Posted inBusiness
‘Market got what it wanted’: Stocks close broadly higher
The Nasdaq composite climbs 3.8 percent, its biggest gain since November 2020.
Posted inBusiness, Nation & World
Lake Powell, power source for millions in the West, hits historic low
Officials say more needs to be done to ensure Glen Canyon Dam on the Colorado River can keep producing hydropower.
Posted inBusiness, Nation & World
Disney workers plan walkouts over ‘Don’t Say Gay’ bill
The Florida measure bars instruction on ‘sexual orientation or gender identity’ in kindergarten through grade 3.
Posted inBusiness, Nation & World
How will higher interest rates affect your finances?
Americans who have long enjoyed the benefits of historically low interest rates will have to adapt to a very different environment as the Federal Reserve embarks on a period of rate hikes to fight inflation.
Posted inBusiness, Nation & World
Fed hikes key interest rate to fight inflation, with more to come
The Fed’s quarter-point hike in its key rate, which it had pinned near zero since the pandemic recession struck two years ago, marks the start of its effort to curb the high inflation that has followed the recovery from the recession.
Posted inBusiness, Politics
Sarah Bloom Raskin withdraws her nomination for Fed role
Opposition from Sen. Joe Manchin, D-WVa., made her confirmation impossible.