DUBAI, United Arab Emirates – A staggering 71 million more people around the world are experiencing poverty as a result of soaring food and energy prices that climbed in the weeks following Russia’s invasion of Ukraine, the United Nations Development Program said in a report Thursday. The UNDP estimates that 51.6 million more people fell […]
Business
Business news and information from the Portland Press Herald.
Posted inBusiness
U.S. mortgage rates plunge to 5.3% in biggest weekly drop since 2008
But the housing market is the least affordable it’s been since the mid-1980s.
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Posted inBusiness
U.S. dollar nearly equal to euro for 1st time in 20 years
The trend makes foreign goods slightly less expensive for Americans but threatens to hurt U.S. exporters.
Posted inBusiness, Nation & World
Higher gas prices hurt pockets, make small dent in emissions
People are paying more when they hit the gas station and some are changing their habits.
Posted inBusiness, News
Brian King named Bank of America Maine president
King will oversee the bank’s operations and philanthropic giving in the state.
Posted inBusiness, Nation & World
U.S. jobless claims rise to 235,000, most in nearly six months
The Labor Department reported that U.S. employers advertised fewer jobs in May amid signs that the economy is weakening.
Posted inBusiness, People on the Move
Hannah King hired as partner in Dentons Bingham Greenebaum’s cannabis law, litigation and corporate practice groups
NEW HIRES Dentons Bingham Greenebaum has hired Hannah King as a partner in its cannabis law, litigation and corporate practice groups. King, who is based in Portland, brings extensive experience advising hundreds of cannabis businesses to her practice at Dentons. John Zinn recently joined Back Cove Financial as a financial adviser. Zinn is a graduate […]
Posted inBusiness, Nation & World
U.S. job openings slip, but employment landscape remains solid
U.S. employers advertised fewer jobs in May as the economy has shown signs of weakening, though the overall demand for workers remained strong
Posted inBusiness
Stocks rise after release of Fed meeting minutes
Stocks are closing higher on Wall Street Wednesday following the release of minutes from the Federal Reserve’s most recent policy meeting
Posted inBusiness, Nation & World
Fed: Sharply higher rates may be needed to quell inflation
Federal Reserve officials were concerned at their meeting last month that consumers were starting to anticipate higher inflation, and they signaled that much higher interest rates could be needed to restrain it.