Business - Centralmaine.com

Large solar project to break ground in central Maine

by Tux Turkel November 16, 2022November 16, 2022

The $200 million project, in the Kennebec County towns of Benton and Clinton, is expected to be completed in about a year.

Business, Nation & World, News

Rent stabilization measures win in U.S. midterm election

by JANIE HAR Associated Press November 16, 2022November 16, 2022

Ballot measures to build more affordable housing and protect tenants from soaring rent increases were plentiful and fared well in last week’s midterm elections, including in Portland.

Business, Nation & World, News

Musk to remaining Twitter staff: Go ‘hardcore’ or leave

by MICHELLE CHAPMAN AP Business Writer November 16, 2022November 16, 2022

Elon Musk has asked employees to decide by Thursday evening if they want to remain a part of the business, according to an email sent by the company’s new owner to its remaining staff.

Business, Nation & World, News

U.S. wholesale inflation eases to 8%, its 4th straight slowdown

by CHRISTOPHER RUGABER Associated Press November 15, 2022November 16, 2022

The figures came in lower than economists expected and make it more likely that the Federal Reserve will increase its benchmark interest rate in smaller increments.

Business, Nation & World, News

U.S. offshore wind energy industry faces blowback from locals

by WAYNE PARRY Associated Press November 15, 2022November 15, 2022

Thousands of wind turbines have been proposed for areas along the U.S. coastline as the nation tries to meet an ambitious goal of deploying enough of them offshore by 2030 to power 10 million homes.

Business, Maine, News

Rate hike will bump up average Versant Power electric bill by $24 a month

by Edward D. Murphy November 15, 2022November 17, 2022

The standard-offer rate, the price customers pay for the supply of power, is rising 41% next year in northern and eastern Maine. A similar increase may be in store for Central Maine Power customers.

Business, Nation & World, News

Walmart offers to pay $3.1 billion to settle opioid lawsuits

by GEOFF MULVIHILL Associated Press November 15, 2022November 15, 2022

Though it hasn’t admitted liability, the company released a statement saying the money will ‘provide significant aid to communities across the country.’

Business, Nation & World, News

Jeff Bezos says he will give away most of his fortune during his lifetime

by Associated Press November 14, 2022November 14, 2022

The Amazon founder had been criticized in the past for not signing the Giving Pledge, the campaign launched by Bill Gates and others to encourage billionaires to donate the majority of their wealth through philanthropy.