Congress approved 3 destroyers for the current fiscal year, but Pentagon officials say the shipyards can’t build that many and wants to buy only 2 next year.
Business
Business news and information from the Portland Press Herald.
Posted inBusiness, Food, Maine
Coffee By Design to close Freeport location
The coffee shop is inside L.L. Bean’s flagship store, where renovations are planned.
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Posted inBusiness, Nation & World, News
Federal officials fear U.S. won’t pursue some unpaid COVID-19 aid loans
A federal program that provided more than $370 billion, mostly in low-interest loans, is at risk of suffering significant losses.
Posted inBusiness, Nation & World, News
Surging oil prices could again frustrate inflation fight
Saudi Arabia and other leading oil producers will slash output by more than 1 million barrels a day starting in May.
Posted inBusiness, Maine, News
Environmental groups withdraw lawsuit over last Maine salmon
The conservation groups say they can still shut down dams on the Kennebec River by focusing on upcoming federal relicensing applications by Brookfield Renewable.
Posted inAuto Racing, Business, Maine, News, Sports
South Portland truck leasing business acquired by Penske Corp.
Kris-Way, which employs 150 people in Maine, is being purchased by one of the world’s largest transportation services companies.
Posted inBusiness, Maine
Maine dollar stores fined tens of thousands of dollars for safety violations since 2017
Seven Maine locations have been cited as part of a national crackdown by regulators on the stores’ practices.
Posted inBusiness
Saudis, other oil giants announce surprise production cuts
Saudi Arabia and other major oil producers say they will cut oil production by 1.15 million barrels per day from May until the end of 2023.
Posted inBusiness, Nation & World, News
Twitter pulls check mark from main New York Times account
Early Sunday, Musk tweeted that the Times’ check mark would be removed. Later he posted disparaging remarks about the newspaper.
Posted inBusiness, Maine
From hot tubs to handrails, the Mainely name sells, business owners say
Hundreds of businesses across the state share the same first name – Mainely – and find it’s an effective way to brand just about any product or service.