Companies from Apple and Nike to major shippers like Maersk are abandoning Russia, whose extensive trade ties with the West have been all but severed.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness, Nation & World, News
Strong job growth in February points to COVID’s fading grip on economy
Employers added a robust 678,000 jobs, the largest monthly total since July, and the unemployment rate dropped to 3.8% from 4% in January.
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Posted inBusiness
Wheat, corn prices surge amid Russia’s invasion of Ukraine
Inflation is already at a four-decade high in the U.S., partly driven by rising food costs.
Posted inBusiness
Federal Reserve chair: Russia’s war on Ukraine will worsen inflation
Jerome Powell warned that Russia’s invasion has already driven up oil prices.
Posted inBusiness
Russia’s war spurs corporate exodus, exposes business risks
Russia’s invasion of Ukraine has thrown business plans into disarray and forced a growing number of the world’s best known brands to pull out of a country that’s become a global outcast.
Posted inBusiness, Maine
Maine scraps plan to beef up medical marijuana rules after industry objects
The Maine Office of Marijuana Policy said it will work with industry members to draft a more palatable set of rules.
Posted inBusiness, Maine
Maine awards $5 million in relief grants to small businesses
More than 380 small businesses across the state will receive up to $50,000 each through the Maine Jobs and Recovery Plan.
Posted inBusiness, Maine, News
Legislature seeks to keep 2 veterans homes open in Maine
Maine Veterans’ Homes announced that its facilities in Machias and Caribou are expected to close in the spring.
Posted inBusiness, Nation & World, News
Fewer Americans apply for unemployment benefits
Initial jobless claims fell by 18,000 to 215,000 for the week ending Feb. 26, the Labor Department reported, and declined in Maine as well.
Posted inBusiness, Maine, News, Politics
Lawmakers consider sweeping affordable housing reform bill
The bill aims to cut the regulatory red tape that supporters say is exacerbating Maine’s housing crisis.