Economists attributed part of the pullback to snowy weather, but they also said the slowdown shows that shoppers may finally be buckling under higher interest rates and other financial hurdles.
Business
Local, state and national business news from the Sun Journal.
Posted inBusiness, Nation / World, News
How Americans define a middle-class lifestyle – and why they can’t reach it
A poll from The Washington Post finds widespread agreement on what it means to be middle class. Only a third of Americans meet that definition.
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Posted inBusiness, Nation / World, News
SpaceX launches a commercial lander to the moon in historic mission
The soft lunar landing set for Feb. 22 would be the first by a commercial entity, as well as the first for the United States since the final Apollo mission in 1972.
Posted inBusiness, Nation / World
Recession has struck some of the world’s top economies. The U.S. keeps defying expectations
Both Japan and the United Kingdom said Thursday their economies weakened for a second straight quarter, which fits one lay definition for a recession.
Posted inBusiness, Nation / World, News
Senate poised to pass biggest piece of tech regulation in decades
The Kids Online Safety Act would impose sweeping obligations on an array of digital platforms, including requiring companies to ‘exercise reasonable care’ to prevent products from endangering kids.
Posted inBusiness, Maine, News
Mainers spent $80 million more than necessary on electricity in last 6 years, advocate says
A new report from Maine’s Office of the Public Advocate has renewed concerns about the state’s competitive power marketplace.
Posted inBusiness, Nation / World
Artificial intelligence, real emotion. People are seeking a romantic connection with the perfect bot
The generative artificial intelligence boom has led to the emergence of more companion chatbots.
Posted inBusiness
Cisco Systems to lay off more than 4,000 workers in latest sign of tighter times in tech
The layoffs represent about 5% of the networking giant’s workforce.
Posted inAdvertiser Democrat, Business
19th century homestead demolished to make way for Norway housing cooperative
The Whitman Street property, vacant and crumbling for the last several years, will be redeveloped as a 12-18 unit affordable housing cooperative.
Posted inBusiness, Nation / World, News
In southwest Florida, high home insurance rates are driving away would-be buyers
Now, the buildup in inventory has caused home prices to fall at some of the fastest rates in the nation.