As interest rates increase, economists fear that a recession remains inevitable.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness, Nation & World
High inflation and efforts to tame it defined 2022 economy
U.S. inflation, an economic afterthought for decades, returned in 2022 with the relentless rise in prices devouring workers’ pay and putting American consumers in a foul mood.
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Posted inBusiness, Nation & World
Working at 76: Inflation forces hard choice for older adults
Higher prices throughout much of 2022 have taken their financial toll on older adults in particular.
Posted inBusiness, Nation & World, News
Tesla stock rises despite Musk selling $3.58 billion in shares
Musk has sold nearly $23 billion worth of Tesla stock since April, with much of the money likely going to help fund his $44 billion acquisition of Twitter.
Posted inBusiness, Nation & World
Company holiday parties are back – but with some restraint
More than 57% of firms are planning in-person celebrations this year, a big leap from 26% in 2021 and 5% in 2020.
Posted inBusiness
Stocks stumble as central bank raises its key short-term rate
The U.S. will release its weekly report on unemployment benefits Thursday, along with retail sales data for November.
Posted inBusiness, Nation & World
GM recalls over 825,000 vehicles to fix daytime running lights
The recall covers certain 2020-23 models.
Posted inBusiness, Health, Local & State
Health care networks, universities to receive $2.3 million in funding to expand rural education opportunities
Collaborative groups of health care networks, the University of Maine System and St. Joseph’s College will receive a combined total of nearly $2.3 million to expand medical training in communities like Farmington, Norway, Bridgton and Blue Hill.
Posted inBusiness, Local & State, Schools and Education
Roux Institute joins with hospital networks to boost health care tech start-ups
The program created in partnership with MaineHealth and Northern Light Health will provide residencies to entrepreneurs in health care tech.
Posted inBusiness, Nation & World, News
Fed raises key interest rate by half-point and signals more to come
Though lower than its previous three-quarter-point hikes, the latest move will further heighten the costs of many consumer and business loans and the risk of a recession.