The company’s shares fell more than 26% in afternoon trading Thursday, lopping more than $230 billion off its overall value.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness, Nation & World
Cheers: Whiskey sales start comeback in bars, restaurants
On-premise sales volumes – representing about one-fifth of the U.S. spirits market – rose 53% in 2021, following pandemic-related closures and restrictions nationwide in 2020.
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Posted inBusiness
Jobless claims fall for second straight week
The four-week average for claims, which compensates for weekly volatility, rose by nearly 8,000 to 255,000.
Posted inBusiness, Nation & World
A likely poor jobs figure for January could prove temporary
Most economists expect a relatively quick rebound in hiring, possibly as soon as this month.
Posted inBusiness, Maine, News, Politics
Committee advances bill to let Maine towns collect fees on short-term rentals
The bill would let communities impose impact fees on short-term rentals that aren’t inhabited by permanent residents and use that money to support affordable housing.
Posted inBusiness, Maine
Medical cannabis sellers say scaled-back overhaul of rules still would go too far
The proposed rules, pared down from a prior proposal, still include requirements that industry members say are labor-intensive and cost-prohibitive.
Posted inBusiness, Maine, News
Injured construction worker alleges negligence in lawsuit against Cianbro
More than 5 tons of steel fell on Eric Jabbusch of Greene at a Cianbro worksite on Interstate 95 in July 2020.
Posted inBusiness, Maine
To-go cocktails may stay awhile in Maine, but health advocates say not forever
Bars and restaurants say to-go alcohol sales have helped them weather the pandemic, but public health organizations say they shouldn’t continue indefinitely.
Posted inBusiness, Uncategorized
Pandemic creates openings for would-be entrepreneurs
The increase in entrepreneurship in the past two years is much different than what happened after the last downturn in 2008-2009.
Posted inBusiness, Maine, News
Change coming: Maine Turnpike plans to end cash toll collection
Technological advancements in recent decades have made the cash toll experience alien to many drivers.