Business - Portland Press Herald

Business, Nation & World, News

U.S. economy slowed but still grew at 2.9% rate last quarter

by PAUL WISEMAN Associated Press January 26, 2023January 26, 2023

The economy’s expected slowdown is an intended consequence of the Federal Reserve’s aggressive series of rate hikes.

Business, News

From the Business Desk: Working on the railroad, all the live-long day

by Will Hall January 26, 2023January 25, 2023

Freight trains are plying Maine’s rail system in larger numbers and sizes, and the state has a new plan to make sure we have adequate tracks and infrastructure. Let’s hope it’s enough.

Business, People on the Move

Kennebec Savings subsidiary KFS Mortgage Co. names Sarah Sachs as president

January 26, 2023January 8, 2026

NEW HIRES Sarah Sachs has been named president of KFS Mortgage Co., a Waterville-based lending corporation and subsidiary of Kennebec Savings Bank. Sachs brings extensive experience in residential mortgage, retail banking and small business lending to her new role. Most recently, she served in key roles at other banks as a vice president and mortgage […]

Business

Murdoch pulls plug on possible merger of News Corp., Fox

by Associated Press January 25, 2023

In statements Tuesday, the companies said their boards received letters from Rupert Murdoch withdrawing the plan.

Business

Light at the end of the tunnel: Grand Central annex opens

by BOBBY CAINA CALVAN Associated Press January 25, 2023

A huge new commuter rail terminal built in caverns beneath New York City’s landmark Grand Central Terminal received its first regular passenger trains Wednesday.

Business

AmazonSmile’s end is alarming, say nonprofits that benefited

by THALIA BEATY and GLENN GAMBOA Associated Press January 25, 2023

Since 2013, more than 1 million charities received donations from AmazonSmile, which sent a small portion of a customer’s purchase on Amazon to a nonprofit of their choice

Business, Maine

Grants will bring high-speed internet to 16,000 homes and businesses in rural Maine

by Megan Gray January 25, 2023January 25, 2023

Brookton and 10 surrounding communities will get high-speed broadband through an $8.1 million grant announced by the Maine Connectivity Authority this week.