The strong finish for the week came as investors received potentially encouraging news about inflation.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness, Kennebec Journal, Local & State, News
Augusta considers new use for former Kmart building as demand for self-storage rises
A proposal to covert the former big-box store on Western Avenue into a self-storage facility has prompted conversations about how to reuse large, empty retail spaces.
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Posted inBusiness, Nation & World
Prepare for sticker shock if you are traveling this summer
If you haven’t booked your summer vacation plans, you are already too late to snag the best deals, according to travel experts.
Posted inBusiness, Nation & World
Housekeepers struggle as U.S. hotels ditch daily room cleaning
Many hotels across the United States have done away with daily housekeeping service, making what was already one of the toughest jobs in the hospitality industry even more grueling
Posted inBusiness, Local & State
Frenchman Bay salmon farm developer sues state for spiking its lease application
The Portland company, funded by Norwegian investors, proposed raising 66 million pounds of Atlantic salmon annually and operating a fish processing plant.
Posted inBusiness, Local & State, News
Despite record gas prices, Memorial Day travel surge expected in Maine
With prices at the pump hovering above $4.70 a gallon, travelers and residents alike plan to take to the road for the traditional start of Maine’s peak tourism season.
Posted inBusiness, Nation & World, News
Key inflation gauge slowed to still-high 6.3% over past year
Consumer spending rose by a healthy 0.9% from March to April, outpacing the month-to-month inflation rate.
Posted inBusiness, Nation & World
Delta cutting flights due to staffing, COVID-19, weather disruptions
Delta’s cutback of its summer flight schedule comes after similar moves by other airlines facing staffing issues including American, JetBlue and Spirit.
Posted inBusiness, Nation & World
Better results from retailers help send stock market higher
Roughly 90% of the stocks in the S&P 500 rose, with technology companies, banks and retailers driving much of the rally.
Posted inBusiness, Nation & World
U.S. economy shrank by 1.5% in Q1 but consumers kept spending
Last quarter’s drop in the U.S. gross domestic product – the broadest gauge of economic output – does not likely signal the start of a recession.