The fund was established during construction of the trans-Alaska pipeline in the 1970s and now is worth $73.6 billion.
Business
Business news and information from the Portland Press Herald.
Posted inBusiness, Nation & World, Sports
About $400 million spent on California campaign to legalize sports betting
The two propositions pit tribes against online gambling companies.
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Posted inBusiness, Maine, News
After lobster ruling, federal regulators mull how to quickly reduce risks for right whales
Among possible measures: limits on traps, reductions in the number of lines and a longer seasonal closure of lobstering waters.
Posted inBusiness, Maine, News
Maine home sales fell again in August, while prices rose, but market may be leveling off
The number of sales fell by double digits, and the median sale price increased by about the same percentage. Mortgage rates are climbing and could be a wild card.
Posted inBusiness, Nation & World, News
Fed attacks inflation with another big interest rate hike and expects more
By raising borrowing rates, the Fed makes it costlier to take out a loan. Consumers and businesses then presumably borrow and spend less, cooling the economy and slowing inflation.
Posted inBusiness, Nation & World, News
Here is how steep Fed rate hikes affect your finances
Interest rate increases intended to stem inflation are making it increasingly costly for consumers and businesses to borrow – for homes, autos and other purchases.
Posted inBusiness, Food, Maine
Dogfish Bar & Grille in Portland closing
The popular restaurant and music venue on Free Street is located in an area plagued by construction road closures since spring.
Posted inBusiness, Nation & World
‘Art of the steal’: Trump accused of vast fraud in New York suit
Meanwhile, the Trump Organization is set to go on trial in October in a criminal case alleging that it schemed to give untaxed perks to senior executives.
Posted inBusiness, Nation & World, News
U.S. home sales slipped, prices grew more slowly in August
Sales of previously occupied U.S. homes slowed in August for the seventh month in a row.
Posted inBusiness, Nation & World, News
Walmart to hire 40,000 mostly seasonal workers for holidays
The nation’s largest retailer and largest private employer said it’s in a stronger staffing position heading into the holidays than last year and is now focusing on hiring only seasonal workers, rather than permanent workers.