Despite the punishing financial sanctions Moscow faces, it has built ‘an economy that’s geared for conflict,’ an observer says.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
U.S. inflation soared 7.9% over last year, biggest spike since 1982
The increase reported Thursday by the Labor Department reflected the 12 months ending in February and didn’t include the oil and gas price surges that followed Russia’s invasion of Ukraine on Feb. 24.
Maine losing chief of its insurance bureau
Eric Cioppa, who has served the state in a variety of roles for more than three decades, will retire April 1 as Superintendent of the Maine Bureau of Insurance
New $100 million bank loan suggests Trump may survive fraud probes
It was made just three days after public revelations that the former president’s longtime accountants had disavowed a decade’s worth of his financial statements
Stocks jump most since June 2020 as oil prices fall sharply
The market turnaround came as the price of U.S. crude oil dropped 12%, the most since November, bringing relief after a sharp runup in crude prices since Russia invaded Ukraine.
Did Amazon violate federal laws? Lawmakers seek probe by Justice Department
The House Judiciary Committee escalated the bipartisan battle against the world’s biggest online retailer with a letter to Attorney General Merrick Garland referring the case for a criminal inquiry.
Biden signs order on cryptocurrency as its use explodes
The president urges the Federal Reserve to explore whether the central bank should create its own digital currency.
As energy prices surge, Maine lawmakers propose new relief bills
Democrats unveiled proposals Wednesday aimed at easing the effects that are hitting now and planning for future price spikes.
Europe faces pressure to join U.S., British ban on Russian oil
But the continent’s dependence on Russia for energy makes an immediate embargo much more difficult.
Maine House slams door on fees for vacant second homes
The bill would have allowed municipalities to assess fees on vacant year-round homes, as long as the revenue was used to increase affordable housing.