Some analysts caution against concluding that layoffs are picking up across the economy, partly because last week was shortened by the Memorial Day holiday.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness, Maine, News
$30 million project will expand footprint, capacity of Bigelow research center in East Boothbay
The Bigelow Laboratory for Ocean Sciences says it will break ground this fall on a 25,000-square-foot building to accommodate a growing staff and add new capabilities for teaching and research.
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Posted inBusiness, Nation & World, News
Concerns arise over limited Canadian hydropower as U.S. pursues transmission lines
Some New England lawmakers, including in Maine, are questioning the wisdom of plans to construct new transmission lines across their states, despite Hydro-Québec’s insistence it can still meet its energy obligations.
Posted inBusiness
Banks’ reliance on chatbots to handle customer service worries watchdog
The CFPB has concerns about whether AI will be able to handle the nuances of consumer protection laws without giving inaccurate information.
Posted inBusiness, Nation & World, News
New Jersey utilities float solar panels on reservoir, powering water treatment plant
The facility, which began operating in January, produces 8.9 megawatts of electricity, enough to power 1,400 homes.
Posted inBusiness
Wall Street inches higher toward bull market
The market wants to know which will happen first: a recession or inflation falling enough to get the Fed to start cutting interest rates.
Posted inBusiness, Nation & World, News
Wheat, corn prices jump after Ukraine dam collapse
WASHINGTON — Global prices for wheat and corn soared Tuesday after a major dam in Ukraine collapsed, renewing market fears about the fragility of the country’s ability to ship food to Africa, the Middle East and parts of Asia as it fights a war with Russia. Wheat prices gained 2.4% in early trading Tuesday on […]
Posted inBusiness, Nation & World, News
Hollywood actors guild votes to authorize strike, as writers strike continues
If the union ultimately moves forward, it would be limited to television and film productions.
Posted inBusiness, Nation & World, News
Canadian company pleads guilty to shipping banned seal oil to U.S.
FeelGood shipped more than 900 bottles of the capsules worth more than $10,000 to the U.S. from 2019 to 2021, the Justice Department said.
Posted inBusiness, Maine, News
CMP rate hike approved by regulators, will increase home bills nearly $2 next month
Under a compromise approved Tuesday, typical Central Maine Power residential customers will see bills will rise 1% in July and then increase roughly $5 by the middle of 2025.