It was a surprisingly strong gain in the face of the Federal Reserve’s aggressive drive to slow growth and tame inflation with higher interest rates.
Business
Business news and information from the Portland Press Herald.
Posted inBusiness, Maine, News
Maine’s seafaring history marred by long-ignored, disgraceful chapter
There’s new attention to Maine’s role in the slave trade of the 1800s, and on Friday a national expert will discuss how a Portland ship captain became one of the most notorious participants.
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Posted inBusiness, Nation & World
Eye drops linked to drug-resistant bacteria outbreak
Investigators tie the infections – including some found in blood, urine and lungs – to EzriCare Artificial Tears.
Posted inBusiness, Nation & World
Australia removing British monarchy from its bank notes
The face of King Charles III is expected to be seen on the nation’s coins this year.
Posted inBusiness, Nation & World, Politics
Bill Clinton returns to White House to push paid family leave
He speaks just days before Sunday’s 30th anniversary of his landmark Family and Medical Leave Act.
Posted inBusiness
Ford 4th quarter profit drops 90%, company says more cost cuts coming
The performance comes with a backdrop of rising interest rates and declining vehicle sales overall.
Posted inBusiness
Wall Street piles more onto big start to year as tech surges
Amazon and Google’s parent company, Alphabet, both jump more than 7%.
Posted inBusiness, Nation & World
Michigan man says son, 6, ordered $1,000 in food from Grubhub
The boy’s mom says her husband had just used the app on his phone to order dinner and probably left it open.
Posted inBusiness, Maine, News
Abbott Labs laying off most temporary workers in Westbrook
The company, which expects demand for COVID tests to ebb, said no changes are currently planned for permanent workers at its Westbrook site.
Posted inBusiness, Maine, New England, News
Federal regulators clear connection obstacle in fight over CMP corridor project
The Federal Energy Regulatory Commission ruled Wednesday that equipment must be upgraded at a New Hampshire power plant so the transmission line can connect to the regional grid.