Ford Motor Co. is recalling more than a quarter-million Explorer SUVs in the U.S.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness
Elon Musk sells $4 billion in Tesla shares, presumably for Twitter deal
Analysts said Tesla investors fear Musk will be distracted by Twitter and less engaged in running the electric car company.
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Posted inBusiness, Nation & World
Top Democrats push for federal crackdown on high gas prices
Democratic leaders have announced an effort to give the Federal Trade Commission increased authority to crack down on oil and gas companies that engage in price gouging.
Posted inBusiness
Long-term U.S. mortgage rates edge down this week to 5.1%
After seven weeks of increases, the average rate on a 30-year mortgage inched down from last week.
Posted inBusiness, Maine Cannabis Report, New England
New Hampshire Senate rejects 2 marijuana legalization bills
A majority of senators maintain their opposition to recreational cannabis use, unswayed by the legal markets in neighboring states.
Posted inBusiness
What Twitter could do as a privately held company
Here’s a look at what it means for a company to go private.
Posted inBusiness, Politics
Drop in U.S. GDP challenges Biden’s pitch to voters about the economy
The drop clearly put the president on the defensive after he has said repeatedly that the booming job market means the U.S. can withstand inflation at a 40-year high.
Posted inBusiness, Nation & World
FDA to announce plan to ban menthol in cigarettes, cigars
Menthol accounts for more than a third of cigarettes sold in the U.S.
Posted inBusiness, Nation & World
Fewer Americans filed for jobless claims last week
Weekly applications for unemployment aid have been consistently below the pre-pandemic level for most of this year.
Posted inBusiness, Nation & World
U.S. economy shrank last quarter for the first time in 2 years
The U.S. economy contracted at a 1.4% annual rate, yet consumers and businesses kept spending in a sign of underlying resilience.