A hit to the brands, retailers and malls that cater to those in a higher tax bracket foreshadows potential weakness ahead for the U.S. economy.
Business
Local, state and national business news from the Sun Journal.
Posted inBusiness, Nation / World
Record crowds expected to take to air, roads for Thanksgiving
Today and tomorrow will be among the busiest travel days, with 2 million flying each day.
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Posted inBusiness, Nation / World, News
Not just child’s play: Toy companies aim more products at older adults
Toymakers are tweaking original classic games or coming out with new ones that embrace an audience that’s been around for a while: people over 65 years old.
Posted inBusiness, Nation / World, News
Key Fed official sees possible ‘golden path’ toward lower inflation without a recession
Austin Goolsbee’s optimistic outlook for inflation underscores why analysts increasingly think the Fed’s next move will be a rate cut, rather than an increase.
Posted inBusiness
OpenAI’s future thrown into chaos as employees threaten to quit and join Microsoft
The future of OpenAI was thrown into chaos Monday after nearly all the employees at the artificial intelligence company threatened to quit and join ousted CEO Sam Altman at Microsoft, extending the dramatic Silicon Valley boardroom saga. More than 700 of the company’s roughly 770 employees have signed a letter threatening to quit unless the […]
Posted inBusiness, News
Microsoft snaps up 2 leading executives from company that created ChatGPT
Meanwhile, back at OpenAI, the newest CEO vows to investigate the firing of Sam Altman, which also prompted the company’s president, Greg Brockman, to quit in protest.
Posted inBusiness, Maine, News
Commerce report says Maine’s outdoor recreation economy grew 16.5% in 2022
Outdoor recreation accounted for $3.3 billion in economic activity, or nearly 4% of the state’s GDP. That’s the 6th-highest percentage of any state.
Posted inBusiness, Maine, News
Maine’s summer tourist season was a mixed bag, with modest food and lodging gains
Visitor spending increased an estimated 1% to nearly $5.2 billion in the summer of 2023, the Maine Office of Tourism reports.
Posted inBusiness, Maine, News
Ecomaine gets $2 million grant to promote recycling among residents of multifamily homes
The EPA grant will fund educational outreach and expand access to single-stream recycling programs.
Posted inBusiness, Nation / World
SpaceX launches giant new rocket, but pair of explosions ends second test flight
On Saturday, about three minutes into flight, the separated booster also exploded over the gulf. By then, though, its job was done.