Stocks have slumped as the Federal Reserve swings more aggressively toward fighting inflation by raising short-term interest rates.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Food prices soar to record levels on Ukraine war disruptions
The United Nations says the situation is threatening millions of people in Africa, the Middle East and elsewhere with hunger and malnourishment.
Aroma Joe’s coffee and sandwich shop to open on Bay Street in Winslow
The business will open sometime in July or August and will replace a Dunkin’ Donuts that closed in 2016 and moved into a new location farther down Bay Street.
SpaceX launches 3 visitors to space station for $55 million each
Three rich businessmen and their astronaut escort will stay at the International Space Station for more than a week.
Inflation hits nonprofits’ services, ability to fundraise
As inflation increases, there are early signs that the burst of generosity donors showed in the first year of the pandemic may be slowing.
Bath Iron Works president resigns abruptly without explanation
Dirk Lesko issued a notice of immediate resignation to employees of the Bath-based company Thursday, but BIW would not explain the circumstances.
Consumer advocates push for strict standards in proposed Maine utility rating system
The Maine Public Utilities Commission is weighing a system of regular report cards and possible penalties for power utilities in the state.
Walgreens amends bottle deposit fee issues
Sun Media Group reporters returned to Walgreens Tuesday, April 5, and were all charged the correct five-cent fee on applicable bottles.
Biden bets strong job market will shield economy from slump
But there are growing fears of a coming economic slump among voters and some Wall Street analysts.
U.S. jobless claims stay at historically low levels last week
The number of Americans quitting their jobs was also historically high, at 4.4 million, up from 4.3 million in January.