Prices have surged 17 percent since July 2020, spurring people to change their purchasing patterns and eating habits.
Business
Business news and information from the Portland Press Herald.
Posted inBusiness, Nation & World
California weighs rules giving fast food workers more power
Union organizers and advocates say wage theft and other exploitation is common in the industry, particularly for women and racial minorities.
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Posted inBusiness, Nation & World
Facebook parent settles suit in Cambridge Analytica scandal
The social network service allowed millions of its users’ personal information to be fed to a firm that supported Donald Trump in 2016.
Posted inBusiness, Maine, News
One of South Portland’s oldest bottle redemption centers closes
Don Cook is closing Rolando’s Redemption because of rising costs, including for workers. There already are 40 fewer licensed Maine redemption centers now than there were 2 years ago.
Posted inBusiness, Nation & World
Dow drops 1,008 points on Fed chairman’s rates speech
Jerome Powell says further interest rate increases are in order to beat back the high inflation sweeping the country.
Posted inBusiness, Nation & World
Poland, South Korea seal $5.8 billion military deal
The European country is stepping up its defense and deterrence capabilities in the face of Russia’s war in Ukraine.
Posted inBusiness, Nation & World
Christie’s to auction Paul Allen’s art trove, valued at over $1 billion
The Microsoft co-founder died from complications of non-Hodgkin’s lymphoma in 2018.
Posted inBusiness, Nation & World, News
Stocks fall as Fed chair says rates to remain high a while
Stocks fell at first, then erased nearly all their losses, and then turned decisively lower as investors initially struggled to make out the meaning of Jerome Powell’s highly anticipated speech.
Posted inBusiness, Nation & World, News
Secret Service recovers $286 million in stolen pandemic loans
The Secret Service said an investigation found that alleged conspirators submitted pandemic loan applications by using fake or stolen employment and personal information and used an online bank to conceal and move their criminal proceeds.
Posted inBusiness, Nation & World, News
Inflation eases as consumer prices rise 6.3% in July
Inflation started rising sharply in the spring of 2021 as the economy rebounded with surprising speed from the short but devastating coronavirus recession a year earlier.