DUBAI, United Arab Emirates – A staggering 71 million more people around the world are experiencing poverty as a result of soaring food and energy prices that climbed in the weeks following Russia’s invasion of Ukraine, the United Nations Development Program said in a report Thursday. The UNDP estimates that 51.6 million more people fell […]
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Democrats want to tax high earners to protect Medicare solvency
Also, an emerging Schumer-Manchin compromise aims to lower prescription drug costs.
Wall Street rallies for 4th day
The S&P 500’s gain marks the longest winning streak for the index since March.
Higher gas prices hurt pockets, make small dent in emissions
People are paying more when they hit the gas station and some are changing their habits.
Brian King named Bank of America Maine president
King will oversee the bank’s operations and philanthropic giving in the state.
U.S. jobless claims rise to 235,000, most in nearly six months
The Labor Department reported that U.S. employers advertised fewer jobs in May amid signs that the economy is weakening.
U.S. job openings slip, but employment landscape remains solid
U.S. employers advertised fewer jobs in May as the economy has shown signs of weakening, though the overall demand for workers remained strong
Stocks rise after release of Fed meeting minutes
Stocks are closing higher on Wall Street Wednesday following the release of minutes from the Federal Reserve’s most recent policy meeting
Fed: Sharply higher rates may be needed to quell inflation
Federal Reserve officials were concerned at their meeting last month that consumers were starting to anticipate higher inflation, and they signaled that much higher interest rates could be needed to restrain it.
Granholm, actor Robert Downey Jr. boost clean energy jobs
The Energy Department is teaming with actor Robert Downey Jr. to recruit up to 1,000 new workers focused on climate change and clean energy.