The move by President Biden is being taken in coordination with the European Union and Group of Seven countries to punish Moscow for its invasion of Ukraine.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness, Maine, News
Maine lobster industry to receive $17 million in aid from federal government
Part of a $1.5 trillion spending package, the funding will be used to help lobstermen comply with new federal regulations designed to protect the endangered North Atlantic right whale.
advertisement
Posted inBusiness, Nation & World
Stocks slip, oil prices turn lower as uncertainty continues
Recent surges for energy prices have raised the risk that the economy is set to struggle under a toxic cocktail of stagnating growth and persistently high inflation.
Posted inBusiness, Nation & World
U.S. extends mask rule for travel while weighing new approach
Face coverings will be required on planes, buses and trains for one more month as the CDC develops more targeted policies.
Posted inBusiness, Nation & World
Russia built an economy like a fortress, but the pain is real
Despite the punishing financial sanctions Moscow faces, it has built ‘an economy that’s geared for conflict,’ an observer says.
Posted inBusiness, Nation & World, News
U.S. inflation soared 7.9% over last year, biggest spike since 1982
The increase reported Thursday by the Labor Department reflected the 12 months ending in February and didn’t include the oil and gas price surges that followed Russia’s invasion of Ukraine on Feb. 24.
Posted inBusiness, Maine, News
Maine losing chief of its insurance bureau
Eric Cioppa, who has served the state in a variety of roles for more than three decades, will retire April 1 as Superintendent of the Maine Bureau of Insurance
Posted inBusiness, Nation & World
New $100 million bank loan suggests Trump may survive fraud probes
It was made just three days after public revelations that the former president’s longtime accountants had disavowed a decade’s worth of his financial statements
Posted inBusiness, Nation & World
Stocks jump most since June 2020 as oil prices fall sharply
The market turnaround came as the price of U.S. crude oil dropped 12%, the most since November, bringing relief after a sharp runup in crude prices since Russia invaded Ukraine.
Posted inBusiness, Nation & World
Did Amazon violate federal laws? Lawmakers seek probe by Justice Department
The House Judiciary Committee escalated the bipartisan battle against the world’s biggest online retailer with a letter to Attorney General Merrick Garland referring the case for a criminal inquiry.