Initial unemployment claims rose by 23,000 to 248,000 last week, the U.S. Labor Department reported Thursday.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness, Maine
NECEC lays out legal argument against power line ban in newly filed legal briefs
The developers of the 145-mile transmission line are appealing a lower court’s ruling to the state supreme court, saying it is unconstitutionally retroactive.
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Posted inBusiness, Nation & World
Mexico’s avocados face fallout from violence, deforestation
As producers suffer extortion from organized crime, and loggers continue to chop down pine forests to clear land for avocado orchards, another threat looms: Campaigns for greener competition and perhaps even a boycott.
Posted inBusiness, Nation & World
Rising gasoline costs during Ukraine crisis pose political risk for Biden
Americans are already dismayed by inflation at a 40-year high, and the president is warning that gas prices could get higher if Russia chooses to invade.
Posted inBusiness, Maine, News
State to merge health insurance markets in bid to help small businesses
State insurance regulators said the merger of the individual and small group markets will promote price stability and lower premiums.
Posted inBusiness, Kennebec Journal, Maine
Subsidized units eyed as Augusta’s Glenridge Drive development sold for $8.03 million
New owners Midland Capital Partners say they will renovate all 120 units in the complex via a financing package through the Maine Housing Authority and will convert some market-rate units to subsidized units.
Posted inBusiness, Nation & World
Faster rate hikes likely if inflation stays high
Federal Reserve policymakers concluded last month that they would accelerate their tightening of credit ‘if inflation does not move down’ as expected.
Posted inBusiness, Maine
Elite Airways to offer more flights between Portland and Florida
The Portland-based airline plans weekly flights to St. Augustine in northeast Florida and Vero Beach in east central Florida starting March 26.
Posted inBusiness, Nation & World
January retail sales surged 3.8% as threat of omicron faded
Last month’s increase was the largest since last March, when most American households received a final federal stimulus check of $1,400.
Posted inBusiness, Food & Dining
The Wrap: New restaurants and food shops, fundraisers, Ninety Nine reasons to love Maine spuds
New restaurants to open in Biddeford and Portland, a happy hour to help fire victims, and Ninety Nine restaurants in New England to serve Maine potatoes exclusively.