Industry executives, testifying before Congress for the second time in six months, respond that oil is a global market and that they don’t dictate prices.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness, Nation & World
Fed signals it will take more aggressive steps to fight inflation
Higher rates from the Fed will increase borrowing costs for mortgages, auto loans, credit cards and corporate loans.
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Posted inBusiness, Local & State, Nation & World, News
Storms batter aging power grid, including Maine’s, as climate disasters spread
As with much of the nation, Maine’s electrical infrastructure was built decades ago and parts are more than 50 years old, according to the American Society of Civil Engineers.
Posted inBusiness
Stocks fall on Wall Street as tech slips, bond yields jump
Stocks closed lower on Wall Street Tuesday and bond yields jumped as remarks by a Federal Reserve governor fueled expectations on Wall Street that the central bank is prepared to more aggressively raise interest rates and take other steps in a bid to tame surging inflation
Posted inBusiness
Amazon’s first U.S. labor union overcomes hurdles
Outmatched financially, organizers relied on their ability to reach workers personally by making TikTok videos, giving out free marijuana and holding cookouts.
Posted inBusiness, Nation & World, Politics
U.S., allies to ban new investments in Russia
Calls for increased sanctions intensified this week in response to the attacks, killings and destruction in the Ukrainian city of Bucha.
Posted inBusiness, Local & State
Cianbro acquires Florida-based construction company
Pittsfield-based Cianbro is one of the country’s largest employee-owned construction firms with roughly 4,000 workers.
Posted inBusiness, Nation & World, News
GM, Honda to make ‘affordable’ electric vehicles together
Honda and GM want to start producing millions of these EVs, including compact crossovers, globally in 2027.
Posted inMaine Commercial Real Estate, Real Estate
Maine Commercial Real Estate Transactions: March 2022
Sales and leases for land, industrial, office, retail and more
Posted inMaine Commercial Real Estate, Real Estate, Sponsored
Featured Property: Freeport Village Portfolio
Five retail properties and two parking lots for sale in Freeport Village