Investors are struggling to guess how high Russia’s invasion of Ukraine will send prices of oil, wheat and other commodities produced in the region.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness, Maine
New Maine advocacy group pushes for stricter medical cannabis rules
The group is urging state officials to change Maine’s medical marijuana rules by adding product testing and tracking requirements that it says are crucial for public safety.
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Posted inBusiness, Nation & World, News
Two weeks into war, Russia’s economy has rarely fared worse than now
Despite capital controls and the biggest interest-rate increase in almost two decades, the ruble has lost about 37% of its value.
Posted inBusiness, Nation & World
U.S. slashes Russia trade status, bans imports of its alcohol, seafood
The move by President Biden is being taken in coordination with the European Union and Group of Seven countries to punish Moscow for its invasion of Ukraine.
Posted inBusiness, Maine, News
Maine lobster industry to receive $17 million in aid from federal government
Part of a $1.5 trillion spending package, the funding will be used to help lobstermen comply with new federal regulations designed to protect the endangered North Atlantic right whale.
Posted inBusiness, Nation & World
Stocks slip, oil prices turn lower as uncertainty continues
Recent surges for energy prices have raised the risk that the economy is set to struggle under a toxic cocktail of stagnating growth and persistently high inflation.
Posted inBusiness, Nation & World
U.S. extends mask rule for travel while weighing new approach
Face coverings will be required on planes, buses and trains for one more month as the CDC develops more targeted policies.
Posted inBusiness, Nation & World
Russia built an economy like a fortress, but the pain is real
Despite the punishing financial sanctions Moscow faces, it has built ‘an economy that’s geared for conflict,’ an observer says.
Posted inBusiness, Nation & World, News
U.S. inflation soared 7.9% over last year, biggest spike since 1982
The increase reported Thursday by the Labor Department reflected the 12 months ending in February and didn’t include the oil and gas price surges that followed Russia’s invasion of Ukraine on Feb. 24.
Posted inBusiness, Maine, News
Maine losing chief of its insurance bureau
Eric Cioppa, who has served the state in a variety of roles for more than three decades, will retire April 1 as Superintendent of the Maine Bureau of Insurance