Meta Platforms Inc. posted its first revenue decline Wednesday in its history.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness, Nation & World
U.S. pledges $401 million for high-speed internet in rural places
Farmers, store owners, schoolchildren and people seeking telehealth medical checkups are expected to benefit from the programs.
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Posted inBusiness, Kennebec Journal, Maine
Ironman 70.3 competition in Augusta expected to be economic boon for central Maine
Although the figures will not be tallied until after Sunday’s event, estimates are that the half-triathlon will generate between $8 million and $10 million in direct and indirect spending in the capital region.
Posted inBusiness, Nation & World, News, Politics
Biden calls inflation-fighting deal with Sen. Manchin ‘godsend’ for U.S. families
A 15% corporate minimum tax will help fund the new costs, with extra going to deficit reduction.
Posted inBusiness, Maine
DEP says Maine is ahead of schedule to meet climate change goal
A Department of Environmental Protection report says Maine’s greenhouse gas emissions in 2019 were 25% lower than levels measured in 1990, surpassing the medium-term goal of a 10% reduction by 2020.
Posted inBusiness, Nation & World, News
JetBlue agrees to buy Spirit for $3.8 billion after Frontier merger fails
JetBlue has agreed to buy Spirit Airlines a day after Spirit and Frontier Airlines agreed to abandon their merger proposal.
Posted inBusiness, Nation & World, News
U.S. economy shrank 0.9% last quarter, its 2nd straight drop
The U.S. economy shrank from April through June for a second straight quarter, contracting at a 0.9% annual pace and raising fears that the nation may be approaching a recession.
Posted inBusiness, Nation & World
Facebook parent Meta posts first revenue decline in history
Competition from rival TikTok intensifies as Facebook and Instagram’s parent company Meta posted its first revenue decline in history Thursday.
Posted inBusiness, Nation & World, News
Workers at Massachusetts Trader Joe’s to vote to form chain’s first union
Employees at a Trader Joe’s in Massachusetts are casting votes over the next two days in an attempt to form the supermarket chain’s first union.
Posted inBusiness, Nation & World, News
Gun makers have sold AR-15-style guns as a sign of manhood as shootings rise
The industry has taken in more than $1 billion from selling the weapons, which have been used in mass shootings, over the last decade.