What is happening to crypto is, in part, an extreme version of what is happening to stocks, as investors sell riskier assets at a time when the threat of recession is rising.
Business
Business news and information from the Portland Press Herald.
Posted inBusiness, Lewiston-Auburn, News
Auburn farmer says he has lost business despite meeting PFAS testing
Roger Gauthier says his land, previously owned by the Lewiston-Auburn Water Pollution Control Authority, has always met state screening standards for “forever chemicals.” Those standards will likely be lowered.
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Posted inBusiness, Maine, News
Idexx closing subsidiary, ending business in Russia
The $3.2 billion veterinary medicine powerhouse kept operations going in Russia for four months after the invasion of Ukraine.
Posted inBusiness
How much for gas? Around the world, pain is felt at the pump
For the millions who don’t have accessible public transportation and can’t forgo their car, the solution has been to cut costs elsewhere.
Posted inBusiness
Airline industry predicts profit in 2023, defying slowdown
Passenger numbers worldwide are estimated to reach 83% of pre-pandemic levels.
Posted inBusiness, Maine
Scarborough teen’s scheduling app wins 2022 Maine App Challenge
Yuliya Buturlia won for ScheduleStorm, an app that allows students to easily schedule meetings with their teachers.
Posted inBusiness, Nation & World, News
Biden says decision on gas tax holiday may come this week
The administration is increasingly looking for ways to spare Americans from higher prices at the pump, which began to climb last year and surged after Russia invaded Ukraine in February.
Posted inBusiness, Maine Cannabis Report, Nation & World
New York mayor won’t be ‘heavy-handed’ on illicit cannabis sales: ‘Enjoy yourself, light up’
Eric Adams directs authorities to steer illegal sellers toward the state’s soon-to-launch legal market.
Posted inBusiness, Maine
Maine business group seeks rare deal to export ‘cape shark’ to Cuba
Although U.S. export to the Caribbean’s largest island is rare, the Maine delegation’s leader is a seasoned veteran of Cuban trade and one of few Americans with an export license.
Posted inBusiness
Fed’s interest rate hikes may mark start of tough new economic climate
Decades of falling rates give way to higher borrowing costs and new math for investments.