The class-action lawsuit against the cryptocurrency exchange argues that their celebrity status made them culpable for promoting the firm’s failed business model.
Business
Business news and information from the Portland Press Herald.
Posted inBusiness, Maine, News
Tentative settlement reached in Summit Natural Gas rate hike request
The Office of the Public Advocate negotiates a proposed 200% rate hike down to 49%. The PUC still must review the proposal before it can be approved.
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Posted inBusiness, Nation & World, News
Amazon begins mass layoffs among its corporate workforce
The online retail giant saw sizable profits during the COVID-19 pandemic, as homebound shoppers purchased more items online, but consumers now rely less on ecommerce.
Posted inBusiness, Maine, News
Most CMP customers to see rise of nearly 50% in electricity supply rates
Utility regulators blame high natural gas prices on the continued surge in cost. The new rate will take effect in January.
Posted inBusiness, Maine, News, Uncategorized
Large solar project to break ground in central Maine
The $200 million project, in the Kennebec County towns of Benton and Clinton, is expected to be completed in about a year.
Posted inBusiness, Nation & World, News
Rent stabilization measures win in U.S. midterm election
Ballot measures to build more affordable housing and protect tenants from soaring rent increases were plentiful and fared well in last week’s midterm elections, including in Portland.
Posted inBusiness, Nation & World, News
Musk to remaining Twitter staff: Go ‘hardcore’ or leave
Elon Musk has asked employees to decide by Thursday evening if they want to remain a part of the business, according to an email sent by the company’s new owner to its remaining staff.
Posted inBusiness, Food
The Wrap: Goodfire Brewing opens this week in Freeport
Also, Botto’s Bakery moving to Westbrook, Sweetcream Dairy finds a new home in Biddeford, and more Thanksgiving dinner options.
Posted inBusiness, Nation & World, News
U.S. wholesale inflation eases to 8%, its 4th straight slowdown
The figures came in lower than economists expected and make it more likely that the Federal Reserve will increase its benchmark interest rate in smaller increments.
Posted inBusiness, Maine, News
Portland Council gets mixed feedback on proposed Eastern Prom food truck plans
Interim City Manager Danielle West is expected to issue a decision on the plans for the 2023 season in the coming weeks.