Millions of Americans are changing their habits, signing up for carpools or even ditching their cars for bicycles as gas prices recently hit $5 per gallon for the first time ever.
Business
Business news and information from the Portland Press Herald.
Posted inBusiness, Maine
Debate begins early over raising Portland’s minimum wage to $18
Voters will likely be asked in November if they want to increase the city’s minimum wage, which at $13 an hour is already above the statewide minimum and on its way to $15 in 2024.
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Posted inBusiness, Nation & World, Politics
Here is how Biden’s proposed gas tax holiday would work
If savings from the 18.4 cents-a-gallon federal tax on gas are fully passed along to consumers, drivers would save about $2.76 for a 15-gallon fill-up.
Posted inBusiness, Nation & World
U.S. stocks give up afternoon gains and end slightly lower
The choppy trading followed a solid rally on Tuesday in what has been a turbulent period for the broader market.
Posted inBusiness, Nation & World
Inflation surges to 7.7% in Canada, fastest pace since 1983
Like other countries, Canadian households are being hit by record gasoline prices, paired with surging food costs.
Posted inBusiness, Nation & World
Fishing feud at bottom of the world splits U.S. and UK over Russia
For the 1st time since governments banded together 40 years ago to protect marine life near the South Pole, deep-sea fishing for Chilean sea bass is proceeding this season without any catch limit.
Posted inBusiness, Nation & World
Chairman Powell says Fed aiming to avoid recession while taming inflation
He tells senators that the Federal Reserve’s primary goal is to reduce inflation, and he still hopes to achieve what he has called a ‘soft landing’ – a reduction in inflation and a slowdown in growth without triggering a recession and high unemployment.
Posted inBusiness, Maine, News
Augusta Chipotle restaurant workers may be first in nation to unionize following health, labor concerns
Workers delivered a petition and letter of intent to Chipotle Mexican Grill management Wednesday, saying they are forming a union.
Posted inBusiness, Nation & World, News
Biden calls for three-month suspension of gasoline, diesel taxes
The president’s push faces uphill odds in Congress, which must act in order to suspend the taxes, and where many lawmakers, including some in his own party, have expressed reservations.
Posted inBusiness, Nation & World, News
‘Groundhog Day’ at IRS: Returns pile up, phone delays worsen
After digging out of a daunting backlog from 2021, the agency has an even bigger backup for this tax season than it did a year ago.