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.
Business
Business news and information from the Portland Press Herald.
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.
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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.
Posted inBusiness, Food
The Wrap: Maine Lobster Week is on; Primo closes in Tucson
Also, the Talking Food in Maine series returns next week to Damariscotta’s Lincoln Theater, closing night comes for Katahdin Restaurant in the Arts District, and Leeward and Twelve restaurants get lots of love from The New York Times.
Posted inBusiness, News
Gap slashes 500 corporate jobs in cost-cutting move
The job cuts follow years of struggle at the San Francisco-based retailer, which operates its namesake stores as well as the Old Navy, Banana Republic and Athleta chains.
Posted inBusiness, Maine, News
Westbrook’s Rock Row starts next phase of development with medical campus
The multiuse Rock Row complex already includes many retail businesses, but is beginning the next step toward a 2.7 million-square-foot footprint.