The former CEO of failed crypto firm FTX Sam Bankman-Fried’s arrest comes just a day before he was due to testify in front of the House Financial Services Committee, along with the company’s current CEO, John Ray III.
Business
Business news and information from the Portland Press Herald.
Posted inBusiness, Nation & World, News
2022 shattered economic forecasts. Can the Fed get 2023 right?
Fed officials are quick to point out how difficult forecasting has become. Rate hikes also operate with a lag, and there’s no certainty around whether the economy is barreling toward a recession or could narrowly avoid one.
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Posted inBusiness, Nation & World, News
Toys R Us may have grown up, but the pandemic is fueling its rebirth
Toys R Us succeeded in large part because it sold highly desirable merchandise at little or no profit and maintained a huge inventory, featuring the best and hottest new toys.
Posted inBusiness
Twitter relaunching subscriber service after debacle
The company owned by billionaire Elon Musk has also started granting a new gold-colored check mark to businesses on the platform.
Posted inBusiness, Nation & World, News
For better or worse, billionaires now guide climate policy
As government struggles to move quickly to contain greenhouse gases, ultrawealthy investors and philanthropists are increasingly grabbing the reins, using their fortunes to guide the transition to cleaner energy toward their favored projects and market strategies.
Posted inBusiness, Maine Cannabis Report, Nation & World
Crackdown on cashless ATMs leaves cannabis stores scrambling
Many businesses have been using the method to get around credit card companies’ block on marijuana transactions.
Posted inBusiness, Maine
Nursing home services may be consolidated at new, higher-cost facility in Damariscotta
Clippership Landing could help LincolnHealth stem years of financial losses at two existing long-term care sites. But the project comes with trade-offs, too.
Posted inBusiness, Nation & World
Shoppers, workers clash over post-pandemic expectations
Before the pandemic, consumers had gotten accustomed to instant gratification: packages and groceries delivered to their doorstep in less than an hour, stores that stayed open around the clock to serve their every need.
Posted inBusiness, Maine, New England, News, Uncategorized
Future of Aroostook clean energy project may hinge on Massachusetts
Before a multibillion-dollar transmission line and wind farm are built in northern Maine, officials in Massachusetts must determine if the project will benefit that state’s residents.
Posted inBusiness, Nation & World
Hong Kong tycoon gets more prison time for fraud
Pro-democracy activist Jimmy Lai, 75, also faces charges under the national security law.