Some of the flags at Silicon Valley Bank include rapid growth since the pandemic and its unusually high level of uninsured deposits.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness, Nation & World, News
Is my money safe? What you need to know about bank failures
Nearly all banks are FDIC insured. Credit unions are insured by the National Credit Union Administration.
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Posted inBusiness, Maine, News
Couple hoping to mine Newry lithium deposit urge lawmakers to clarify state mining laws
The couple requests lawmakers ‘restore’ a state law so the deposit would be regulated under quarrying regulations, which are much less stringent.
Posted inBusiness, Nation & World, News
U.S. consumer prices ease but stay high, putting Fed in tough spot
With the recent collapse of Signature and Silicon Valley banks, the agency may have to shift its focus from taming inflation to boosting confidence in financial institutions.
Posted inBusiness, Nation & World, News
Defense budget speeds toward $1 trillion, with China in mind
The Pentagon budget surge is meant to address the vulnerabilities that the Ukraine war has exposed in the U.S. defense industrial base, and the strategic threat the U.S. sees from China’s gains.
Posted inBusiness, Food & Dining, Maine, News
Maine lobstermen sue sustainability group for defamation over ‘red listing’
Seafood Watch, a program of the Monterey Bay Aquarium in California, unfairly downgraded its evaluation of the Maine lobster fishery last fall, the fishermen say.
Posted inBusiness, Maine, News, Uncategorized
Maine unemployment fell below 3% in January
At the same time, the number of jobs in the state rose to an all-time high of 648,000.
Posted inBusiness, Maine, Morning Sentinel
Solon Hotel owners say listing property is smart business, not a sign they are jumping ship
The landmark hotel was listed for sale last week at $999,000, just a month after reopening, but co-owner Faith Goguen says she and her husband, Bruce, remain committed to the property as they take a long view of their business operations.
Posted inBusiness, Maine, News
Maine wreath business was cited for record-keeping, workplace safety violations
Worcester Resources defends its track record, says it is proud of the way it treats employees.
Posted inBusiness, Nation & World, News
Bank stocks tumble while others rise on hopes for easier interest rates
The most pressure is on the regional banks a couple steps below in size of the massive, ‘too-big-to-fail’ banks that helped take down the economy in 2007 and 2008.