Maine Running moving store to Marginal Way

Maine Running Co., a specialty retailer for runners, said Tuesday that it will move its Portland store from Forest Avenue to Marginal Way.

The new store will be next to the Bayside Trail, giving customers easy access to the Portland Trails network.

The company will occupy 5,000 square feet at the Marginal Way location, which will include retail space and a “community room” to host race-packet pickups, training groups and clinics.

Maine Running Co. has been at 563 Forest Ave. since April 2005. The company employs more than 20 full- and part-time employees, with stores in Portland and Brunswick.

 

Time Warner pumping $5 million into broadband

Time Warner Cable said Tuesday that it is investing more than $5 million this year to expand its high-speed broadband network in dozens of Maine communities.

By the end of the year, more than 3,000 additional homes and businesses will have access to Time Warner Cable’s fiber-optic network. It’s part of a $100 million investment the company is making in markets throughout New England, New York and the Carolinas as customers demand faster Internet speeds, the company said.

The project includes new broadband service for towns such as Hiram, Porter, Orland and Ellsworth, completion of a fiber-optic network connecting more than 350 buildings in downtown Bangor, and an extended fiber network to more than 650 commercial buildings in Portland, the company said.

In all, Time Warner Cable will add more than 150 miles to its 12,000-mile network of high-speed cable in Maine this year. Time Warner Cable is the largest cable operator in Maine, serving more than 360,000 customers with video, Internet and phone services.

 

Dow takes biggest single-day drop in four months

U.S. stocks fell sharply Tuesday, with the Dow taking its worst single-day hit in four months, as weaker earnings and concern about Spain heightened fears about the global economy.

“You can rally on rhetoric, you can rally on monetary policy, but at some point investors need to sink their teeth into something, and this quarter’s earnings don’t seem to be solid enough,” said Jack Ablin, chief investment officer at BMO Private Bank in Chicago.

After a 262-point drop, the Dow Jones industrial average finished at 13,102.53, losing 243.36 points, or 1.8 percent, in its biggest daily drop since June 21.

Chemical maker DuPont paced the Dow’s losses that extended to all but two of its 30 components. DuPont plans to cut 1,500 employees after reporting a quarterly profit below estimates. Two other Dow components added to investor worries. 3M Co. declined 4.1 percent after the manufacturer reported a 6.7 percent profit gain in the third quarter, but reduced its outlook for the full year.

And United Technologies Corp. pointed to soft demand from airlines in narrowing its sales outlook for 2012.