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Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness
Stocks close modestly lower after best week since 2020
Chairman Jerome Powell says the Fed will raise its key rate by a half-point at multiple meetings, if need be, to slow inflation.
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Posted inBusiness, Nation & World
Saudi Arabia says it’s not responsible for high oil prices
Rebel attacks on the kingdom’s energy facilities are affecting the production of crude.
Posted inBusiness, Nation & World
Biden administration warns U.S. companies of potential Russian cyberattacks
The president’s top cybersecurity aide says some aren’t fixing known problems in software that could be exploited by hackers.
Posted inBusiness, Nation & World
SEC proposes new corporate climate change disclosures
But major business interests and Republican officials began mobilizing against the rules long before they were unveiled.
Posted inBusiness, Nation & World, News
Russia bans Facebook and Instagram under ‘extremism’ law
The move marks the latest escalation against the company since President Vladimir Putin invaded Ukraine.
Posted inBusiness, Maine Cannabis Report
Kentucky House passes bill to legalize medical marijuana
After years of debate, the state’s Republican-dominated legislature moves closer to allowing some form of cannabis use. The bill’s co-sponsor described people whose lives have been “turned around by these products,” but who also feel like they’re criminals.
Posted inBusiness, Maine
Legislative committee splits 3 ways on utility accountability bill
Lawmakers will be under pressure to find some compromise on making power companies more accountable in Maine.
Posted inBusiness, Maine
Bar Harbor residents launch effort to cap daily visits by cruise ship passengers
A group seeks to limit the number of passengers from cruise ships to no more than 1,000 per day.
Posted inBusiness, Maine, Nation & World
Bath Iron Works moving to install hypersonic weapons on warships
The retrofit of three Zumwalt-class destroyers will likely cost over $1 billion.