Prices have jumped 50-100% in the past three years.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness, Maine, News
Maine lobster industry could receive nearly $14 million in federal aid
The funding would help the industry comply with new rules intended to save the critically endangered right whale.
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Posted inBusiness, Nation & World, News
Pre-pandemic-sized crowds descend on U.S. airports for holiday
The Transportation Security Administration screened more than 2.4 million travelers at airport checkpoints on Thursday, 17% more than just before July Fourth in 2019.
Posted inBusiness, Nation & World
OPEC to boost oil output, but it’s unlikely to ease high gasoline prices
The increase of 648,000 barrels per day in August still leaves the world thirsty for oil as it rebounds from the COVID-19 pandemic and runs up against the inability of the 23-member OPEC+ alliance to meet its production quotas.
Posted inBusiness, Nation & World
Crypto rules to make Europe a global leader as prices plunge
The European Union took a first step late Wednesday by agreeing on new rules subjecting cryptocurrency transfers to the same money-laundering rules as traditional banking transfers.
Posted inBusiness, Nation & World
Fewer Americans applied for unemployment compensation last week
Applications for jobless aid for the week ending June 25 ticked down to 231,000, a decline of 2,000 from the previous week, the Labor Department reported Thursday.
Posted inBusiness, Nation & World, News
Stocks slump, closing out worst quarter since early 2020
Tech stocks and retailers and other companies that rely directly on consumer spending posted some of the biggest losses.
Posted inBusiness, Uncategorized
Report: US newspapers continuing to die at rate of 2 each week
Despite a growing recognition of the newspaper industry’s problems among politicians and philanthropists, a new report says a downward trend continues.
Posted inBusiness, Nation & World, News
Key inflation gauge tracked by the Fed remains a high 6.3%
Thursday’s report from the Commerce Department provided the latest evidence that painfully high inflation is pressuring American households.
Posted inBusiness, Nation & World
U.S. stocks slip, on track for fourth monthly loss this year
Trading has been volatile all week amid growing signs the economy could be in for a recession under the pressure of stubbornly high inflation and sharply higher interest rates.