Consumers spent more in October, even after adjusting for inflation, a sign of their continued willingness to keep spending in the face of high prices.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness, Nation & World, News
As Amazon shrinks, some workers’ last day comes 2 days before Christmas
Amazon began cutting jobs this month, the first of a string of layoffs that is expected to reach about 10,000 workers.
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Posted inBusiness, Nation & World, News
Senate moves to avert rail strike amid dire warnings
The measure now goes to President Biden’s desk for his signature.
Posted inBusiness, Nation & World, News
Recurring U.S. jobless claims rise to highest since February
Although the gauge has been rising for the last two months, it’s still near historic lows. In Maine, the number of unemployment claims fell from the level in the preceding week.
Posted inBusiness, Maine, News
Walgreens paid $68,000 in penalties this year for failing to meet staffing requirements
State regulators found violations at 10 of the pharmacy chain’s locations around Maine.
Posted inBusiness, Maine, News
Petition to replace CMP, Versant with consumer-owned utility has valid signatures to get on ballot
But an opposition group, which is mounting a citizens initiative of its own, says it has gathered enough signatures to blunt the effort.
Posted inBusiness, Nation & World, News
Fed to keep rates higher for longer to cut inflation, chairman Powell says
Federal Reserve chief Chair Jerome Powell also signals that the Fed may increase its key interest rate by a smaller increment at its December meeting, only a half-point, after 4 straight three-quarter point hikes.
Posted inBusiness, Nation & World, News, Politics
House votes to avert rail strike, impose deal on unions
The bill would impose a compromise labor agreement that was voted down by four of the 12 unions representing more than 100,000 employees at large freight rail carriers.
Posted inBusiness, Nation & World, News
Higher food prices worsen hunger crisis this holiday season
What many Americans hoped would be the first normal holiday season in three years has instead been thrown into crisis by inflation, with Christmas on the horizon.
Posted inBusiness, Nation & World, News, Politics
Congress prepares to take up bill preventing rail strike
Railroad unions decried Biden’s call for Congress to intervene in their contract dispute, saying it undercuts their efforts to address workers’ quality-of-life concerns.