October was the slowest month for job recovery in Maine since businesses reopened this spring.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Scarborough Downs will halt live horse racing this month, ending a 70-year run
The track, which opened with thoroughbred racing in 1950, has struggled through years of financial hardship and will hold its last harness racing card on Nov. 28.
Microsoft-led housing effort cuts rents in Seattle suburbs
Microsoft says its affordable-housing initiative has hit upon a model for quickly converting market-rate apartments to ones middle-income workers such as teachers and nurses can afford.
General Motors: New batteries cut electric car costs, increase range
The automaker says a breakthrough in battery chemistry will cut the price of its electric vehicles so they equal those powered by gasoline within five years.
Maine business owners withdraw appeal in COVID-19 lawsuit
The owners filed a federal lawsuit against Gov. Janet Mills in May, asking a judge to declare the restrictions on their operations during a pandemic unconstitutional.
Stocks rise amid investors’ tug of war between hope, fear
Stocks ended higher, shaking off a weak start and nearly erasing the S&P 500’s losses for the week.
Tyson suspends Iowa plant managers after allegations they bet on sick workers
Tyson Foods has suspended top officials at its largest pork plant and launched an investigation into allegations that they bet on how many workers would get infected during a widespread coronavirus outbreak.
UMaine System pauses health insurance change after retirees sue
The lawsuit stems from the decision to switch the retirees from a group benefits plan to a Medicare exchange.
October home sales up 27% in Maine, reaching historic peak
The state’s housing market surpassed all previous records for October, a strong rebound from setbacks in April and May.
Unemployment claims remain high in Maine
More than 2,500 residents applied for state and federal jobless benefits in the second week of November.