Inflation jumped 7.5 percent in January from a year ago, the fastest increase in four decades.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness, Maine
Higher prices boost 2021 Maine lobster landings to record $725 million
Despite its record-breaking value, the haul was one of the smallest in the past decade. It was a huge jump in price that pushed the value over the top.
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Posted inBusiness, Nation & World
Stocks close lower as Wall Street watches Ukraine tensions
Wall Street is also trying to gauge how stocks and the broader economy will be affected by how far and how quickly the Federal Reserve will move to raise interest rates to quash surging inflation.
Posted inBusiness, Maine, Morning Sentinel
It may take awhile for your pet to receive care as burnout, staffing shortages bog down vet clinics
Many clinics and animal hospitals in central Maine have delays in seeing customers or are not taking on new ones as the pandemic and other factors make it difficult to retain staff.
Posted inBusiness, Nation & World
Young workers give American unions new hope
U.S. union membership levels are ticking upward for workers between 25 and 34, even as they decline among other age groups.
Posted inBusiness, Maine Cannabis Report, Nation & World
Marijuana bills stall in Virginia, where it’s legal to use but not to buy
Recreational marijuana was legalized last year, when the state government was controlled by Democrats, but now Republicans are in charge and there’s little agreement on how to regulate it. Some fear illegal sellers are poised to take advantage.
Posted inBusiness, Maine Cannabis Report, Nation & World
New York clamps down on businesses offering marijuana as a ‘gift,’ despite legal language that seems to allow it
As the state works to launch its recreational marijuana market, some businesses have already started gifting it, citing a line in the law that allows “transferring, without compensation.”
Posted inBusiness, Nation & World
Biden has long-term inflation plan, but voter patience is short
He believes a cluster of companies control too many industries, which reduces competition for customers and workers.
Posted inBusiness, Nation & World
Canada’s Trudeau invokes emergency powers to quell protests
Demonstrators are paralyzing the capital city of Ottawa and blocking border crossings.
Posted inBusiness, Maine
Maine businesses and residents feel inflation’s bite
Business owners and consumers say higher prices threaten to slow the state’s economic recovery as inflation hits a 40-year high.