Inflation rose last month as the price of gas, groceries, and airfares jumped, while a measure of layoffs also increased, putting the Federal Reserve in a tough spot as it prepares to cut rates at its meeting next week despite persistent price pressures.
Business
Local, state and national business news from the Sun Journal.
Posted inBusiness, Local & State, News
Common Ground Fair looks to set another record after years of growth
Attendance at the longstanding Unity event had been dropping in the years leading up to the pandemic. But turnout reached an all-time high in 2024, and organizers are hopeful the trajectory will continue.
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Posted inBusiness, Local & State, News
Bette Davis’ former home in Cape Elizabeth sells for $13.4M
The purchase of the nearly 8-acre property — which features a 7,600-square-foot home, a guest house and almost a quarter-mile of ocean frontage — is Maine’s priciest home sale in at least a decade, according to a broker.
Posted inBusiness, Local & State, News
Lewiston-Auburn-Portland commuter bus sees record ridership this summer
The LAP is in the second year of a two-year pilot project.
Posted inBusiness, Local & State, News, Outdoors, The Franklin Journal
Driver in fatal Flagstaff Lake pontoon accident had just sold Eustis market to victim’s relative
Wonderland Holdings LLC, whose president is Nasir Hakeem, purchased Pines Market in February from John Morris of Eustis.
Posted inBusiness, Local & State, News, The Franklin Journal
37 housing units approved for Farmington behind Mt. Blue Plaza
‘Housing in Farmington, as you know, is a premium,’ board member Jeffrey Wright said.
Posted inBusiness, Local & State, News, Politics
Maine Republicans urge Trump administration to revoke Gulf of Maine wind leases
In a letter to federal officials, Maine Republicans applauded the termination of $600 million in offshore wind projects across the U.S. and asked for offshore leases in the Gulf of Maine to also be canceled.
Posted inBusiness, News
Colby College to build new science complex using $150 million anonymous gift
The largest donation in the college’s history marks the lead commitment for a new $300 million facility and investments in scientific collaboration across Maine.
Posted inBusiness, Life & Culture, Local & State, News
Maine’s black market for baby eels is spawning a crime-thriller subgenre
‘The Glass Eel’ is the latest of several books and TV shows to explore elver poaching.
Posted inBusiness, Local & State, News
Central Maine Power Co. taps longtime VP as new president
Linda Ball had worked as the utility’s vice president of customer service since 2019.