In its latest assessment of the global economy, the International Monetary Fund predicted that worldwide inflation will cool from 6.7% last year to 5.8% this year and to 4.3% in 2025.
Business
Local, state and national business news from the Sun Journal.
Posted inBusiness, Nation / World
Former Abercrombie & Fitch CEO Mike Jeffries arrested on federal sex trafficking charges
Jeffries, his romantic partner and a third man were arrested Tuesday on charges of luring men into sex parties held around the world.
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Posted inBusiness, Nation / World, News
Taxpayers will get higher standard deductions in 2025, IRS announces
It’s rising to $15,000, up $400 from this year.
Posted inBusiness, Maine, News
Feds reject Maine’s request for $456 million to build proposed wind port at Sears Island
Sears Island is Maine’s preferred site because the state owns a 100-acre property where a wind port would be built, avoiding lease payments at nearby Mack Point.
Posted inBusiness, News, River Valley, Rumford Falls Times
Rumford ski area receives $1.2 million in grants for improvements
Roger Arsenault, chairman of the Black Mountain of Maine board of directors, said the opportunity for a longer season would add to the bottom line and ‘change our financial picture. We’ll be more stable.’
Posted inBusiness, Franklin, Livermore Falls Advertiser, Maine, News
Livermore Falls Board of Appeals overturns revocation of medical marijuana licenses
On Oct. 16 the Livermore Falls Board of Appeals voted to approve two licenses for medical marijuana facilities owned by Dana Cummings that the Select Board did not renew in August.
Posted inBusiness, Election 2024, Nation / World, Politics
Trump proposals could drain Social Security in 6 years, budget group says
Social Security faces a looming funding crisis in an aging country, with trustees most recently predicting that the retirement and disability program’s trust fund will become insolvent in 2035.
Posted inBusiness, Lewiston-Auburn
Video: See the progress on Auburn demolition and construction projects
Aerial flyovers of the cleanup at the Mount Auburn Apartments and construction at the PAL Center in Auburn.
Posted inBusiness, Nation / World
Heat pumps were supposed to transform the world. But it’s not going as planned.
Heat pump sales, critical to the transition to clean energy, have slowed in the U.S. and Europe, even as other clean energy technology continues to boom.
Posted inBusiness, Maine, News
Do your groceries need to be tossed out? What we know about the listeria recalls in Maine
A recent spate of listeria recalls is causing alarm.