At Bath Iron Works, where the first Arleigh Burke was built, shipbuilders are happy to continue working on existing vessels while new designs are tested out.
Business
Local, state and national business news from the Sun Journal.
Posted inBusiness, Nation / World, News
U.S. announces sweeping new sanctions against Russia 1 year into war
The sanctions come after the White House announced early Friday morning that the Pentagon would commit $2 billion for more rounds of ammunition and a variety of small, high-tech drones into the fight against Russia.
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Posted inBusiness
U.S. applications for jobless benefits fell again last week
The labor market remains resilient in the face of the Federal Reserve’s interest rate increases meant to cool the economy.
Posted inBusiness, Lewiston-Auburn
Developer David Gendron withdraws offer to buy former Martel School property
Gendron, of Gendron Realty, said in a letter to Lewiston City Council that he takes “issue with how the Martel School negotiations have unfolded.”
Posted inBusiness, Maine, Maine Crime
Beloved bookstore burglarized in downtown Portland
An unspecified amount of money was taken from Longfellow Books while the store was closed between Tuesday night and Wednesday morning.
Posted inBusiness
U.S. revises down last quarter’s economic growth to 2.7% rate
It’s a solid showing despite rising interest rates and elevated inflation, the government said in a downgrade from its initial estimate.
Posted inBusiness, Uncategorized
FTX founder faces new charges in rewritten indictment
The new fraud charges raise the prison sentence Sam Bankman-Fried could face if convicted from 115 years to 155 years.
Posted inBusiness, Nation / World, News
Biden nominates former Mastercard CEO Ajay Banga for World Bank president
Trump appointee David Malpass announced plans to step down in June after being criticized last year for seeming, in comments at a conference, to cast doubt on the science that says the burning of fossil fuels causes global warming.
Posted inBusiness, Nation / World
NPR to cut about 100 workers in one of its largest layoffs ever
‘Our financial outlook has darkened considerably,’ NPR’s chief executive wrote after a large shortfall of sponsorship dollars in its podcasts section.
Posted inBusiness, Franklin
Jay paper mill closing earlier than expected
Employees at Pixelle Androscoggin Mill were told Wednesday morning that doors would be closing as early as March 6 rather than later in the spring as previously announced.