Claims for new unemployment benefits dropped slightly in the state last week, with about 3,200 Mainers filing new applications.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness, Nation & World, News
The U.S. economy had its worst year since World War II, shrinking 3.5% in 2020
The pandemic’s blow to the economy early last spring ended the longest U.S. economic expansion on record – nearly 11 years.
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Posted inBusiness, Nation & World, News
U.S. unemployment claims drop, but remain historically high
Overall, nearly 4.8 million Americans are continuing to receive traditional state unemployment benefits.
Posted inBusiness, Local & State, News
Eliot Cutler’s mansion sold to Bush family member for $7.6 million
The 2-time Maine gubernatorial candidate is downsizing, after selling the 15,000-square-foot oceanfront home in Cape Elizabeth to Jonathan Bush Jr.
Posted inBusiness, Local & State, News
Gun sales in central Maine stay strong while ammo supply still runs short
The presidential election and the insurrection at the Capitol have helped boost gun sales at some stores, but business has stayed steady throughout the pandemic.
Posted inBusiness, Morning Sentinel
Potential tax on Paycheck Protection Program loans leaves businesses nervous
Under Gov. Janet Mills’s budget proposal, Maine businesses would have to pay state income taxes on the forgivable federal loans.
Posted inBusiness, Nation & World
Stocks have their worst day since October as Big Tech sinks
The sell-off is a shift from the market’s recent record-setting run and comes as investors focus on the outlook for the economy and corporate profits amid a still-raging coronavirus pandemic.
Posted inBusiness, Nation & World
Fed reaffirms its commitment to low rates for the long run
Chairman Jerome Powell believes the economy will struggle in the coming months, until widespread vaccinations and government rescue aid eventually fuel a sustained rebound.
Posted inBusiness, Local & State, News, Politics
Mills says she’ll seek ways to avoid state tax on businesses’ relief loans
The governor says she’s having departments look for federal funds that would let the state balance its budget without taxing businesses for Paycheck Protection Program money they received.
Posted inBusiness, Kennebec Journal, Local & State
Closing time for Rebecca’s Place in Augusta as owner calls it quits
After more than 40 years in business, Nancy Berg decided Saturday that she was done, citing her inability to hire enough staff to keep Rebecca’s Place running.