Missed government payments – to businesses, but also to people who rely on food stamps, social security and other federal benefits – could quickly ripple through the economy.
Business
Business news and information from the Portland Press Herald.
Posted inBusiness, Maine, News
Abbott Labs lays off another 199 workers at Westbrook COVID-test plant
The company, one of the largest makers of screening tests for the disease, has been scaling back as demand for the products has dwindled, laying off more than 800 people over the last 2 years.
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Posted inBusiness, Nation & World, News, Politics
As funds run short, Treasury asks agencies if payments can be made later
Senior Biden aides are rummaging through the nation’s books, looking for new ways to conserve cash while Washington struggles to raise the debt ceiling.
Posted inBusiness, Nation & World, News, Schools and Education
Using ‘he/him,’ ‘she/her’ in emails got 2 dorm directors fired at small New York Christian college
The firing of 2 employees at a religious school in western New York is fanning the culture wars roiling parts of the United States
Posted inBusiness, Nation & World, News
Breakthrough proposal would aid drought-stricken Colorado River as 3 Western states offer cuts
Arizona, California and Nevada on Monday proposed a deal to significantly cut their water use from the Colorado River over the next 3 years.
Posted inBusiness, Nation & World, News, Politics
TikTok files lawsuit to overturn Montana’s first-in-nation ban on the video-sharing app
The lawsuit by TikTok, owned by Chinese tech company ByteDance, follows 1 filed last week by 5 content creators.
Posted inAnimals, Business, Nation & World, News
Venmo to be officially available for teenagers, although many use it already
Venmo has been a popular way to send money to individuals for years, and now has more than 90 million users.
Posted inBusiness, Nation & World, News, Politics
What it would mean for the global economy if the U.S. defaults on its debt
A default could shatter the $24 trillion market for Treasury debt, cause financial markets to freeze up and ignite an international crisis.
Posted inBusiness, Nation & World, News, Politics
No agreement yet on debt ceiling, but Biden, McCarthy say they’re optimistic after meeting
The contours of an agreement appear within reach, and the negotiations have narrowed on a 2024 budget year cap that would be key to resolving the standoff.
Posted inBusiness, Maine, News
Versant Power rate deal would hike bills $5 a month for home customers
The settlement agreement, which must be approved by the Public Utilities Commission, would increase the monthly bill for the typical residential customer by 4%.