The late-afternoon fade extended the market’s losing streak as it closes in on its fourth weekly loss.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness, Nation & World
U.S. economy grew 5.7% in 2021, fastest pace since 1984
Growth last year was driven up by a surge in consumer spending and an increase in private investment.
advertisement
Posted inBusiness, Nation & World
U.S. weekly jobless claims fall for the first time in a month
A recent surge in COVID-19 cases has set back what had been a strong comeback from last year’s short but devastating coronavirus recession.
Posted inBusiness, Maine, News
Gov. Mills launches $10 million loan program for affordable single-family home construction
The Affordable Homeownership Program is expected to support construction of at least 150 new, single-family, affordable homes across Maine.
Posted inBusiness, Nation & World
Stocks fall, yields rise after Fed signals rate hike ‘soon’
The selling accelerated Wednesday as the central bank’s chairman, Jerome Powell, acknowledged that the high inflation slamming the economy isn’t getting better.
Posted inArts & Entertainment, Business, Nation & World
Picasso heirs launch digital art piece to ride ‘crypto’ wave
They’re looking to cash in on a surge of interest in non-fungible tokens, NFTs, which have netted millions for far-less-known artists and been criticized by some as environmentally costly get-rich schemes.
Posted inBusiness, Maine, News, Politics
Maine Legislature fails to muster enough support to allow farmworkers to unionize
Lawmakers don’t override Gov. Mills’ veto of a bill to allow workers at farms with 5 or more employees to negotiate wages and working conditions.
Posted inBusiness, Maine, Morning Sentinel, News
Repairs completed after severed cable led to phone, internet outage in Waterville
A spokeswoman for Consolidated Communications said service was expected to be returned to all customers Wednesday after a work crew for another company mistakenly severed the underground cable on Jan. 10.
Posted inBusiness, Nation & World
How Fed interest hikes could affect mortgages, car loans, card rates
With the Federal Reserve signaling that it will begin raising its benchmark interest rate as soon as March, consumers and businesses will eventually feel it.
Posted inBusiness, Nation & World
Fed plans to raise key interest rates as soon as March to cool inflation
The central bank’s actions are sure to make a wide range of borrowing – from mortgages and credit cards to auto loans and corporate credit – costlier over time.