The stock market ended another erratic day of trading with mixed results as investors grapple to understand what’s next with inflation and the U.S. central bank’s response to it.
Business
Business news and information from the Portland Press Herald.
Posted inBusiness
Crypto comes to Washington. Will the millions buy influence?
Cryptocurrency tycoons are emerging as new power players in American politics.
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Posted inBusiness, Nation & World
Two companies bid $315 million to develop wind power off Carolinas
If fully developed, the leases could result in about 1.3 gigawatts of offshore wind energy, enough to power about 500,000 homes.
Posted inBusiness, Maine
South Portland’s Dead River Co. announces leadership change
The propane and heating oil provider said Thursday that its president and CEO, Deanna Sherman, will retire at the end of June.
Posted inBusiness, Nation & World, News
Parents swap, sell baby formula as Biden plans to talk to businesses
The problem is the result of supply chain disruptions and a safety recall, and has had a cascade of effect.
Posted inBusiness, Maine, Nation & World, New England
U.S. fishing haul fell 10% during first pandemic year
Some of the largest value seafood species were once again New England staples, such as lobster, a fishery anchored in Maine, and sea scallops, many of which come to the docks in Massachusetts.
Posted inBusiness, Nation & World
Report: Trump officials, meat companies knew workers at risk
Meat processors lobbied hard to keep their plants open during the pandemic, winning relaxed health rules and designation by Trump as critical infrastructure.
Posted inBusiness, Nation & World
Biden cancels offshore oil lease sales in Gulf Coast, Alaska
Meanwhile, a federal appeals court is considering a challenge to a moratorium on new federal leasing that Biden imposed soon after taking office.
Posted inBusiness, Nation & World, News
Mortgage rates edge up, adding hundreds to buyers’ monthly payments
High prices and multiple-offer situations have made it almost impossible for first-time home buyers to purchase property this spring. Rising mortgage rates compound that problem.
Posted inBusiness, Nation & World
Slightly more Americans sought jobless aid last week
The total number of Americans collecting unemployment benefits remained at its lowest level in more than five decades.