Consumer prices were up just 5% in March, down sharply from February’s 6% year-over-year increase and the mildest such rise in nearly 2 years.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness, Nation & World
Inflation slows but stays high enough for Fed to hike again
Much of the drop resulted from price declines for goods such as gas, used cars and furniture.
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Posted inBusiness, Local & State, News
Legislators mull bills that could change minimum wages in Maine
The Labor and Housing Committee heard testimony from the public on 2 bills: one that would increase the state’s minimum, and another that would limit a municipality’s ability to set its own rate.
Posted inBusiness, Local & State, News
Aquaculture development on Down East coast hits a roadblock
A group of business owners and residents is challenging the Jonesport Planning Board’s decision to allow a $110 million facility that would cultivate yellowtail kingfish.
Posted inBusiness
IMF: Prolonged high inflation dims outlook for world economy
The fund foresees a 25% likelihood that global growth will fall below 2% for 2023, which happened most recently in 2020 when COVID-19 derailed global commerce.
Posted inBusiness, Local & State, New England, News
Power line construction moved ahead on good-faith schedule, jurors told
New England Clean Energy Connect, backed by Central Maine Power and its affiliates, was repeatedly forced to change timeframes, lawyers for the project said on the second day of a civil trial.
Posted inBusiness, Nation & World, News
Small business owners feel the credit crunch
Small businesses are seeing the already-tough process of getting business loans get even tougher because of a variety of factors.
Posted inBusiness, New England
Prison for N.H. man in fraud case involving $6 million in COVID-19 loans
He received nearly $874,000 after applying for 35 Paycheck Protection Program and Economic Injury Disaster Loan funds.
Posted inBusiness, Health, Nation & World
Moderna says potential flu vaccine needs more study
The company is testing the vaccine in two, late-stage studies in the Southern and Northern hemispheres.
Posted inBusiness, Local & State, News
Public utility referendum question must be reworded, Maine Supreme Judicial Court rules
The questioning about the question continues as the state’s highest court decides the precise language about the creation of a public-owned electric utility.