Business - Portland Press Herald

Business

Amazon, Salesforce jettison jobs in latest tech worker purge

by MICHAEL LIEDTKE and MICHELLE CHAPMAN AP Business Writers January 4, 2023

Amazon said that it will be cutting about 18,000 positions and Salesforce is laying off about 8,000 employees.

Business

Egyptian pound sees largest single-day fall since IMF deal

by Associated Press January 4, 2023

Since the start of 2022, the currency lost more than 60% of its value against the dollar.

Business

Coinbase to pay $100 million in settlement with New York regulators

by Associated Press January 4, 2023January 4, 2023

Officials citer significant failures in the cryptocurrency trading platform’s systems for spotting potential criminal activity.

Business, News

Supply chain woes caused U.S. auto sales to fall 8% last year

by TOM KRISHER AP Auto Writer January 4, 2023January 4, 2023

Analysts are expecting sales to grow by roughly 1 million to around 14.8 million this year as demand remains strong.

Business, Nation & World, News

Southwest Airlines’ meltdown loss could run $500 million to $700 million

by Kyle Arnold The Dallas Morning News January 4, 2023January 4, 2023

Southwest leaders have so far declined to put a price tag on the meltdown while they work to total the damages and process claims for reimbursement.

Business, Food

The Wrap: New Wharf Street bar on track to open by March

by Tim Cebula January 4, 2023January 3, 2023

Also, Night Moves Bakery relocates to South Portland, a Vermont wine shop to open a Portland location, and a new coffee shop launches in the Public House Market.

Business, Nation & World, New England

U.S. backed offshore wind farm despite own scientists’ warning about cod

by Jennifer A Dlouhy Bloomberg January 3, 2023January 3, 2023

The recommendation underscores a potential environmental tradeoff of the coming offshore wind boom along the East Coast.

Business

Video game workers form Microsoft’s first U.S. labor union

by MATT O'BRIEN Associated Press January 3, 2023January 3, 2023

A ZeniMax senior game tester says their concerns about staff treatment and poor pay are common in the industry and ‘there’s not a lot of dignity involved.’