The sanctions come after the White House announced early Friday morning that the Pentagon would commit $2 billion for more rounds of ammunition and a variety of small, high-tech drones into the fight against Russia.
Business
Business news and information from the Portland Press Herald.
U.S. applications for jobless benefits fell again last week
The labor market remains resilient in the face of the Federal Reserve’s interest rate increases meant to cool the economy.
Insurer Humana lays out employer-sponsored coverage exit
The health insurer Humana will stop providing employer-sponsored commercial coverage as it focuses on bigger parts of its business, like Medicare Advantage.
Commerce Secretary Gina Raimondo seeks to rally U.S. behind $52 billion chip program
President Biden signed the CHIPS and Science Act into law last August on the promise that it would spur factory groundbreakings.
Beloved bookstore burglarized in downtown Portland
An unspecified amount of money was taken from Longfellow Books while the store was closed between Tuesday night and Wednesday morning.
U.S. revises down last quarter’s economic growth to 2.7% rate
It’s a solid showing despite rising interest rates and elevated inflation, the government said in a downgrade from its initial estimate.
Near-record sale in Augusta puts large office building in new hands
The Central Maine Commerce Center changed hands earlier this month for $18.5 million, the largest commercial real estate transaction in the Augusta area since 2019.
U.S. files more charges against FTX founder Bankman-Fried
Prosecutors allege that he used customer money to prop up his hedge fund, Alameda Research; make political donations; and pay for a lavish lifestyle.
Biden nominates former Mastercard CEO Ajay Banga for World Bank president
Trump appointee David Malpass announced plans to step down in June after being criticized last year for seeming, in comments at a conference, to cast doubt on the science that says the burning of fossil fuels causes global warming.
Tom Womersley joins KeyBank’s Maine Commercial Banking team
NEW HIRES Tom Womersley has joined KeyBank as a senior middle market relationship manager on the Maine Commercial Banking team. He comes to KeyBank after working for five years as a senior vice president with the Jefferies Group, a New York investment bank. He previously served for 10 years in various investment banking roles at […]