An inflation gauge closely tracked by the Fed jumped 6.8% in June from a year ago, the government said Friday, the biggest such jump in four decades.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness
Ditch the necktie: Spain’s leader backs conserving energy
Spain’s government urges people to reduce electricity costs by not overusing air conditioning.
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Posted inBusiness, Maine, News
ACLU says pot store camera requirements violate Maine’s ban on facial surveillance
State regulators say the draft rules to require recreational cannabis stores to use video cameras to record shoppers’ faces simply update existing requirements to cover newly approved cannabis delivery.
Posted inBusiness, Nation & World
Stocks rally again, close out best month since Nov. 2020
The latest rally came as investors weighed a mix of company earnings reports and new data showing inflation jumped by the most in four decades last month.
Posted inBusiness, New England
Passenger rail service returns to Vermont city after nearly 70-year absence
Passenger rail service is returning to Vermont’s largest city after an absence of almost 70 years as part of a renewal of interest in passenger rail service nationwide.
Posted inBusiness, Nation & World, Politics
Bill to aid computer chip firms passes Congress, heads to Biden’s desk
Republican leadership in the House recommended a vote against the bill, but some Republicans viewed passing the legislation as important for national security.
Posted inBusiness, Nation & World
Navy speeds development of drone ships to close gap with China
The U.S. Navy believes the technology can help with the 3 keys for military success – weapons range, scouting, and command and control – at a lower cost and risk to personnel.
Posted inBusiness, Nation & World, News
Ships must slow down more often to save right whales, regulators say
Vessel strikes and entanglement in fishing gear are the biggest threats to the giant animals, which number fewer than 340 and are dwindling in population.
Posted inBusiness, Nation & World, News
Oil companies see unprecedented profits as consumer prices soared
On Friday, Exxon Mobil booked an unprecedented $17.85 billion profit for the second quarter and Chevron made a record $11.62 billion.
Posted inBusiness, New England
First Trader Joe’s union approved at Massachusetts store
The next step is putting together a negotiating committee to hammer out a contract with the California-based company, which has about 530 stores nationwide.