The industry has been burdened by hefty taxes that can approach 50% in some areas, costly regulation and competition from a flourishing illegal marketplace.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness, Life & Culture, Nation & World, New England
Baby formula shortage fueling spike in milk bank interest
The U.S. baby formula shortage stemmed from a safety recall and supply disruptions and has captured national attention with panicked parents looking to swap and buy formula online.
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Posted inBusiness, Nation & World
Stocks rally, but still mark their 6th straight losing week
Markets have been slumping since late March as traders worry that the Federal Reserve may not succeed in its delicate mission of slowing the economy enough to rein in the highest inflation in 4 decades without causing a recession.
Posted inBusiness, Nation & World, Uncategorized
Russian pipeline sanctions raise fears of gas interruption
European gas prices have risen after Russian state-owned exporter Gazprom said it would no longer send supplies to Europe via a pipeline in Poland, citing new sanctions that Moscow imposed on European energy companies.
Posted inBusiness, Nation & World, News
New Yorkers, Floridians pay most – and Mainers least – for auto insurance
The tally, based on Bankrate.com’s annual report, compared what 40-year-old drivers with clean driving records and good credit pay across all 50 U.S. states and Washington D.C.
Posted inBusiness, Health, Maine
Maine children getting access to virtual dental services
The children become patients with a dental practice but receive care in school and primary care settings.
Posted inBusiness, Nation & World
A record number of skiers hit U.S. slopes in 2021-2022 season
The Northeast is among the regions that reported increases in skier visits from the previous year.
Posted inBusiness, Health, Nation & World
What’s behind the baby formula shortage?
Many parents are hunting for infant formula after a combination of short- and long-term problems hit the biggest U.S. brands
Posted inBusiness, News
Musk says Twitter purchase ‘on hold,’ casting doubt on $44 billion deal
The announcement that the Tesla billionaire tweeted is another twist amid signs of internal turmoil over his planned buyout of Twitter.
Posted inBusiness, Uncategorized
Senate confirms Powell for 2nd term as Federal Reserve chair
The vote gives bipartisan backing to Jerome Powell’s high-stakes efforts to curb the highest inflation in four decades.