The Federal Reserve kept its benchmark interest rate at a record low near zero Thursday and signaled its readiness to do more if needed to support an economy under threat from a worsening coronavirus pandemic
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness, Local & State
State emergency grant recipients to begin receiving checks next week
About $105 million awarded to about 2,300 small businesses and nonprofits will start going out soon, economic development officials say.
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Posted inBusiness, Local & State, News
Waste collectors injured by chemicals in trash
Two Casella Waste Systems employees were hospitalized with chemical burns after a container filled with hydrochloric acid burst in the York County town of Dayton.
Posted inBusiness, Local & State
Unemployment claims remain high in Maine as virus cases spike
Roughly 2,500 residents filed new jobless claims or reopened previous claims last week, while another 44,000 continuing claims were filed.
Posted inBusiness, Nation & World, News
751,000 unemployment claims filed as virus hobbles U.S. economy
The job market has regained barely half the 22 million jobs that were lost to the pandemic in early spring.
Posted inBusiness, Local & State, News
Central Maine Power energy corridor project nearly ready to begin
The Army Corps of Engineers issues a key permit for the controversial project, but a lawsuit challenging the agency’s findings is ongoing.
Posted inBusiness, Election 2020, Local & State, Maine Cannabis Report
Voters reject Portland’s cautious approach to retail marijuana
The elimination of a cap on cannabis stores in Maine’s largest city passes by a 6-percentage-point margin.
Posted inBusiness, Local & State
Mixed reactions to passage of rent control in Portland
A similar measure was soundly rejected 3 years ago, but on Tuesday 58% of voters supported the change. Still, critics say it won’t help affordable housing.
Posted inBusiness, Nation & World
Tech leads rally as Wall Street shrugs off election limbo
The Nasdaq was the standout, notching its biggest gain in more than six months as traders doubled down on technology stocks.
Posted inBusiness, Local & State
Portland chamber says minimum wage increase could devastate businesses
Proponents say the increase to $15 by 2024 will help women and people of color, but many employers are concerned that a hazard pay provision requiring time-and-a-half pay during a declared emergency will put them out of business.