Since March 2022, the Fed has raised its key rate from near zero to roughly 5.4% in its effort to tame inflation
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness
Martin’s Point renews $6 billion contract for military benefits
The 10-year contract renews services provided by the local health care organization.
advertisement
Posted inBusiness, Nation & World
U.S. consumers keep spending despite high prices and their own gloomy outlook. Can it last?
A flow of recent data from the U.S. government has made one thing strikingly clear: A surge in consumer spending is fueling strong growth, demonstrating a resilience that has confounded economists, Federal Reserve officials and even the sour sentiments that Americans themselves have expressed in opinion polls.
Posted inBusiness, Health
Eyedrops from CVS, Rite Aid and others carry possible infection risk, FDA says
More than 2 dozen varieties of over-the-counter eyedrops are included in the warning.
Posted inBusiness, Nation & World, News
UAW reaches deal with General Motors that ends strikes against Detroit automakers pending votes
Members could still vote down the contracts, but it’s likely they would bring labor peace to the domestic auto industry, at least until they’d expire on April 30, 2028.
Posted inBusiness, Food & Dining, Maine
Coffee By Design closes original location on Congress Street after 29 years
The temporary closure of the Portland coffee shop this month has become permanent.
Posted inBusiness, Maine, News
Some relief expected for Maine electricity customers come January
Analysts expect a 20%-30% drop in supply rates, but there’s still plenty of uncertainty with the Public Utilities Commission set to select bids next month for 2024 standard offer service.
Posted inBusiness, Maine, News, Politics
Opponents of public utility takeover far outspend supporters as Election Day nears
The owners of Maine’s largest power companies have spent more than $37 million to defeat Question 3, while the leading supporter of a public utility takeover has spent just over $1 million.
Posted inBusiness, Nation & World, News, Uncategorized
AP sources: Auto workers and Stellantis reach tentative contract deal that follows model set by Ford
The deal, which still has to be ratified by members, leaves only General Motors without a contract with the union.
Posted inBusiness, Maine, News
Gun stores in Maine see brisk business in wake of Lewiston shootings
‘It’s been a madhouse,’ an employee at a Lewiston store says of the increase in business. ‘People are scared,’ says a gun shop owner in Augusta.