Stocks soared to their biggest gain in two years Wednesday and bond yields dropped after the head of the Federal Reserve announced the sharpest rate increase since 2000.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Intuit to pay $141 million settlement over ‘free’ TurboTax ads
New York’s attorney general says the company will make the payout to customers across the U.S. who were deceived by misleading promises of free tax-filing services.
At least 3 hurt, some trapped, in collapse at Boston construction site
The collapse occurred at a closed power plant in South Boston that is being redeveloped.
Fed raises key interest rate by a half-point to tame highest inflation in 40 years
The Federal Reserve’s credit tightening will likely mean higher borrowing rates for many consumers and businesses over time, including for mortgages, credit cards and auto loans.
New Jersey company indicted on charges of smuggling valuable eels
The Justice Department said the defendants conspired to unlawfully smuggle large numbers of baby European eels out of Europe to a factory in China.
Maine fishermen set record for value of catch in 2021
The increased value of several seafood products that year helped the state set the record.
Maine Commercial Real Estate Transactions: April 2022
Recent sales and leases for land, industrial, office, retail and more
Home heating oil prices across Maine nearly hit $6 per gallon
With warmer weather and U.S. reserves being released, a downturn in price is expected but the timing is hard to predict.
Fed to fight inflation with fastest rate hikes in decades
Making it costlier to borrow — for a car, a home, a business deal, a credit card purchase — will compound Americans’ financial strains and likely weaken the economy.
New Zealand welcomes back tourists as pandemic rules eased
Travelers from the U.S., Canada, Britain, Japan and more than 50 other countries were let in Monday for the first time in more than two years.