Lower deficits usually lower inflation but the Congressional Budget Office determined this month that the changes would have a ‘negligible’ impact this year and next.
Business
Business news and information from the Portland Press Herald.
Posted inBusiness, Nation & World
Russia’s economy gets boost from wartime grain shipments
The United Nations and Turkey brokered two deals last month: one protects ships carrying Ukrainian grain through the Black Sea and the other keeps Russia’s food and fertilizer from being sanctioned.
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Posted inBusiness, Nation & World, News, Politics
What’s in big Biden bill? Health, climate goals become law
The package, an election year turnaround after loftier versions collapsed, will touch countless American lives and secure longtime party goals.
Posted inBusiness, Nation & World, Schools and Education
U.S. cancels $3.9 billion in ITT Tech students’ loan debt
Education Secretary Miguel Cardona says the for-profit college ‘misled students about the quality of their programs.’
Posted inBusiness, Nation & World, News
GM recalls 484,000 big SUVs to fix problem with third-row seat belts
The recall covers Chevrolet Suburbans and Tahoes, Cadillac Escalades and GMC Yukons from the 2021 and 2022 model years.
Posted inBusiness, Nation & World
Companies facing 1st ever tax on stock buybacks in Biden bill
Investors, including pension and retirement funds, like the buybacks. But critics of big corporations call the practice ‘paper manipulation’ to enrich executives and big shareholders.
Posted inBusiness, Maine, News
Portland’s bike-share program finally gets rolling
The city and Tandem Mobility, which is running the program, expect to have 200 bicycles available for rent at 40 locations on the Portland peninsula by Sept. 1.
Posted inBusiness, Nation & World
Amazon workers walk off job at major West Coast air hub
A walkout in Southern California over pay and heat safety shows how labor organizing has spread to yet another division of the e-commerce behemoth’s business.
Posted inBusiness
Delayed raises and renovations: Small businesses face new uncertainties
They’re being barraged by diverging economic messages that have many wondering what to do next. The U.S. economy shrank for a second quarter in a row, reviving fears that the country might be entering a recession.
Posted inBusiness
Stocks end higher on Wall Street; economic worries hit oil
The market’s choppy start to the week follows four straight weeks of gains for the S&P 500 on hopes that inflation is peaking and the Federal Reserve might ease its aggressive interest rate hikes.