Meanwhile, despite its moves, the central bank is grappling with rising interest rates, inflation and a shaky banking system.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness, Nation & World
California’s governor says state budget deficit has grown to nearly $32 billion
The state’s progressive tax code relies on wealthy taxpayers whose income is closely tied to the performance of the stock market.
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Posted inBusiness, Local & State
FAME to offer second cycle of Thrive Maine loans
Total of $29 million in forgivable small-business loans ranging from $10K to $500K will be available.
Posted inBusiness
United pilots picket for higher pay as pressure builds before summer travel season
Delta Air Lines reached a deal with its pilots earlier in 2023, which raised pay rates by 34% over four years.
Posted inBusiness
McDonald’s found liable for hot Chicken McNugget that burned girl
A jury in Florida says McDonald’s and a franchise holder are at fault after a Happy Meal item fell on a child’s leg and caused second-degree burns.
Posted inBusiness
Construction starts on Topsham Market Basket
Market Basket is building its third Maine store at the Topsham Fair Mall.
Posted inBusiness
Peloton is recalling more than 2 million exercise bikes in the U.S. Here’s why
The bike’s seat post assembly can break during use, posing fall and injury hazards.
Posted inBusiness
U.S. wholesale price data for April points to easing inflation pressures
Wholesale prices rose modestly last month, a hopeful sign that the Federal Reserve’s interest rate hikes may be cooling the economy.
Posted inBusiness, Nation & World, News
Elon Musk says he’s found a new CEO for Twitter
Musk, who bought Twitter last fall and has been running it since has been insisting he is not the company’s permanent CEO.
Posted inBusiness, Nation & World, New England, News
Proposed transmission line would bring power from Canada to New Hampshire
The proposed 211-mile, $2 billion Twin State Clean Energy Link would enter the United States in Canaan, Vermont.