One of the fears among investors is that food and fuel costs may keep surging, regardless of how aggressively the Fed moves.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness, Nation & World
Dutch government angers farmers with tough emission goals
The ruling coalition earmarked an extra $25.6 billion to finance changes that will likely make many farmers drastically reduce their number of livestock or to get rid of them altogether.
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Posted inBusiness, Nation & World
Biden vows to battle inflation as prices keep climbing
The administration is seeking to further reduce shipping prices with a bipartisan bill that the House could pass as soon as next week.
Posted inBusiness, Maine
As gas prices pass $5 a gallon, Maine lawmakers seek probe into price gouging
The average price for a gallon of regular gasoline in Maine was $5.06 on Friday, with Franklin County reporting the highest countywide average at $5.16.
Posted inBusiness, Maine, Nation & World
New rules could further slow ship speeds to protect right whales
The new rules could expand existing protections for North Atlantic right whales, which are currently protected by a network of ‘slow zones,’ requiring mariners to transit slowly to avoid whale collisions.
Posted inBusiness, Maine
Maine Turnpike exit in Portland to close for 4 days next week
Exit 46, the one closest to the Portland International Jetport, will be closed Sunday night through Wednesday night for reconstruction.
Posted inBusiness, News
U.S. inflation at new 40-year high as price increases spread
Consumer prices surged 8.6% last month from a year earlier, faster than April’s year-over-year increase of 8.3%, the Labor Department reports.
Posted inBusiness
New ice cream truck in Franklin county aims to spread joy
The Frosty Paw will also teach entrepreneurship to the Hasting children.
Posted inBusiness, Nation & World, Politics
Biden seeks unity, finds discord at Summit of the Americas
Quick on the heels of the president’s remarks, Belize Prime Minister John Briceño publicly objected to countries being excluded from the summit by the U.S. and to the continued U.S. embargo on Cuba.
Posted inBusiness, Nation & World
Stocks tumble as rate pressures grow, inflation report looms
The weakness for markets started on the other side of the Atlantic after the European Central Bank said it would raise interest rates next month for the first time in more than a decade.