At Bath Iron Works, where the first Arleigh Burke was built, shipbuilders are happy to continue working on existing vessels while new designs are tested out.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
U.S. announces sweeping new sanctions against Russia 1 year into war
The sanctions come after the White House announced early Friday morning that the Pentagon would commit $2 billion for more rounds of ammunition and a variety of small, high-tech drones into the fight against Russia.
U.S. applications for jobless benefits fell again last week
The labor market remains resilient in the face of the Federal Reserve’s interest rate increases meant to cool the economy.
Insurer Humana lays out employer-sponsored coverage exit
The health insurer Humana will stop providing employer-sponsored commercial coverage as it focuses on bigger parts of its business, like Medicare Advantage.
Commerce Secretary Gina Raimondo seeks to rally U.S. behind $52 billion chip program
President Biden signed the CHIPS and Science Act into law last August on the promise that it would spur factory groundbreakings.
U.S. revises down last quarter’s economic growth to 2.7% rate
It’s a solid showing despite rising interest rates and elevated inflation, the government said in a downgrade from its initial estimate.
Near-record sale in Augusta puts large office building in new hands
The Central Maine Commerce Center changed hands earlier this month for $18.5 million, the largest commercial real estate transaction in the Augusta area since 2019.
FTX founder faces new charges in rewritten indictment
The new fraud charges raise the prison sentence Sam Bankman-Fried could face if convicted from 115 years to 155 years.
How credit scores are evolving to improve access to credit
Advocates say it’s positive that ratings agencies have started making it easier for consumers to prove that they’ll able to pay back money they borrow.
Biden nominates former Mastercard CEO Ajay Banga for World Bank president
Trump appointee David Malpass announced plans to step down in June after being criticized last year for seeming, in comments at a conference, to cast doubt on the science that says the burning of fossil fuels causes global warming.