Business - Portland Press Herald

Fed to keep rates higher for longer to cut inflation, chairman Powell says

by CHRISTOPHER RUGABER Associated Press November 30, 2022November 30, 2022

Federal Reserve chief Chair Jerome Powell also signals that the Fed may increase its key interest rate by a smaller increment at its December meeting, only a half-point, after 4 straight three-quarter point hikes.

Business, Nation & World, News, Politics

House votes to avert rail strike, impose deal on unions

by KEVIN FREKING and JOSH FUNK Associated Press November 30, 2022November 30, 2022

The bill would impose a compromise labor agreement that was voted down by four of the 12 unions representing more than 100,000 employees at large freight rail carriers.

Business, Nation & World, News

Higher food prices worsen hunger crisis this holiday season

by ASHRAF KHALIL Associated Press November 30, 2022November 30, 2022

What many Americans hoped would be the first normal holiday season in three years has instead been thrown into crisis by inflation, with Christmas on the horizon.

Business, Nation & World, News

U.S. firms slow hiring; wage gains moderate

by Augusta Saraiva Bloomberg November 30, 2022November 30, 2022

Businesses’ payrolls rose 127,000 this month, the smallest gain since January 2021.

Business, Food, Maine

The Wrap: Smoke BBQ opens in Kennebunk and tempeh company launches in Biddeford

by Tim Cebula November 30, 2022November 29, 2022

The Portland Farmers’ Market kicks off its winter season this Saturday, and the Press Hotel’s Inkwell will wrap your gifts all month long.

Business, Nation & World, News, Politics

Congress prepares to take up bill preventing rail strike

by KEVIN FREKING Associated Press November 30, 2022November 30, 2022

Railroad unions decried Biden’s call for Congress to intervene in their contract dispute, saying it undercuts their efforts to address workers’ quality-of-life concerns.

Business, Nation & World, News, Politics

Railroad unions decry Biden’s plan to block possible strike

by JOSH FUNK Associated Press November 29, 2022November 29, 2022

Lawmakers may be asked to vote this week to impose the terms of the deals the 12 unions agreed to in September, even though 4 of those unions representing more than half of the 115,000 rail workers rejected them.