The Belfast City Council voted to withdraw its decision to seize a parcel of mudflats, which it had done in part to guarantee Nordic Aquafarms had access to Penobscot Bay.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness, Nation & World, News
Inflation pressures lingering from pandemic are keeping Fed rate cuts on pause
In the U.S., a big reason why inflation remains above the Fed’s target is that distortions stemming from the pandemic are still keeping prices elevated.
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Posted inBusiness, Nation & World, News
Fed indicated rates will remain higher for longer. What does that mean for you?
The central bank kept its key rate at a 20-year high of roughly 5.3%, where it has been since last August.
Posted inBusiness, Nation & World
American Airlines profit cut augurs bleaker summer travel season
Airlines in the U.S. and Europe had previously expected fares to surge this summer.
Posted inBusiness, Local & State, News
State regulators reject settlement with Electricity Maine over customer complaints
The Public Utilities Commission turns down a proposed settlement with Electricity Maine, saying it falls short of what’s needed to punish the company, and orders staff to renew its efforts to find a resolution to the long-running dispute.
Posted inBusiness, Nation & World
Nissan warns owners of 84,000 older vehicles about risk of exploding air bag inflators
The urgent request comes after one person in a Nissan was killed by an exploding front-passenger inflator, and as many as 58 people were injured since 2015.
Posted inBusiness, Local & State, News
Former worker accuses Puritan Medical Products of ‘heinous racism’ in federal lawsuit
Dupreme Ammonds, of Hartland, alleges managers at the Pittsfield swab-making facility did not address complaints about racial harassment and civil rights violations he faced over 14 months at the company.
Posted inBusiness, Nation & World
More people make ‘no-buy year’ pledges as overspending or climate worries catch up with them
Many are using the challenge to dig out of debt, while others seek to shore up their financial future.
Posted inBusiness, Local & State, News
U.S. offers state a lease to research offshore wind in the Gulf of Maine
The move could establish Maine as a leader in developing the offshore wind industry and provide valuable information about how to build out similar projects.
Posted inBusiness, Nation & World
U.S. consumer confidence rises in May after 3 months of declines
Most economic indicators show the economy in good shape, though there have been some signs it’s cooling off.