In the past five years, its currency has lost about 90% of its value against the U.S. dollar.
Business
Local, state and national business news from the Sun Journal.
Posted inBusiness, Franklin, Livermore Falls Advertiser, News
Androscoggin Mill in Jay has a new owner
Pennsylvania-based Pixelle Specialty Solutions stopped production of paper in March and shut the mill down permanently.
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Posted inBusiness, Nation / World, News
Retail sales rise 0.3% in November as Americans hit the gas on shopping, travel and restaurants
Americans picked up their spending from October to November as the unofficial holiday season kicked off, underscoring that shoppers still have power to keep buying.
Posted inBusiness, Nation / World, News
Wall Street makes zero progress in energy finance transition
The industry needs to get to a 4-to-1 ratio of clean energy versus fossil fuel financing by 2030. At the end of last year, it was 0.73 to 1 – little changed from 2021.
Posted inBusiness, Maine, News
Federal labor board wants Starbucks to reopen 23 locations, including 1 in Portland
The National Labor Relations Board is accusing Starbucks of closing its Old Port location last December in response to workers’ attempt to unionize.
Posted inBusiness, Nation / World, News
AI-generated Nazi memes thrive on Elon Musk’s X, despite claims of crackdown
Online extremists are using AI tools like Microsoft’s Bing to make explicitly racist and antisemitic memes – then amplifying them with verified X accounts.
Posted inBusiness, Nation / World, News
Older workers are a growing share of the American workforce
The share of older Americans who are working has doubled in the past 35 years, a new report finds. They’re also working longer hours and earning higher wages.
Posted inBusiness
Average long-term mortgage rate dips below 7% to lowest level since early August
LOS ANGELES — The average long-term U.S. mortgage rate dropped below 7% to its lowest level since early August, another boost for prospective homebuyers who have largely been held back by sharply higher borrowing costs and heightened competition for relatively few homes for sale. The average rate on a 30-year mortgage dropped to 6.95% from 7.03% […]
Posted inArts & Entertainment, Business
Dick Nunis, who helped expand Disney’s theme park ambitions around the globe, dies at age 91
By the time Nunis retired in 1999 after 44 years at the company, he was chair of Walt Disney Attractions, overseeing a theme park empire that spanned around the world, from Florida to France to Japan.
Posted inBusiness, Uncategorized
Hannaford donates $1.3 million to improve access to food for older adults
The money donated to the Maine Council on Aging will be used to create a grant program for organizations within the council’s network.