The Canadian government forced the country’s two major railroads into arbitration with their labor union late Thursday afternoon.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness
‘Time has come’ for Fed to soon begin reducing interest rates, Powell says
The Fed is widely expected to announce a modest quarter-point cut in its benchmark rate when it meets in mid-September.
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Posted inBusiness, News
Mainers could pay $32 million for grid upgrade in New Hampshire
Eversource Energy says replacing hundreds of power line poles and structures would make the 49-mile line more resilient to storms, but ratepayer advocates across New England say it’s excessive and too costly.
Posted inBusiness, Nation & World, News
Prices still at record levels as existing-home sales inch up
The latest figures also show a slight increase in inventory.
Posted inBusiness, News
Price of typical Maine home hovering around $400,000, but more are hitting the market
The median home sale price in Maine last month was $399,250 – a 5% increase over July 2023, but a slight dip from the record high of $406,000 reported this June.
Posted inBusiness
Canadian freight trains to roll again as government forces arbitration of labor dispute
The railroads have said that once the dispute enters arbitration the trains will be able to get moving again.
Posted inBusiness, Local & State, Morning Sentinel, News
Skowhegan’s Spinning Mill redevelopment back on track
The project’s developer said he expects a portion of the building in downtown Skowhegan to open later this year, after it sustained major flooding damage in December.
Posted inBusiness, News
Bigelow lab receives $7 million for algae research, business development
The Boothbay lab will use the National Science Foundation grant to build the Maine Algal Research Infrastructure and Accelerator in a bid to unlock more ways macroalgae and its microscopic counterpart can be used and ultimately marketed.
Posted inBusiness, News
Gifford’s Ice Cream in Farmington permanently closes ‘with a heavy heart’
FARMINGTON — Gifford’s Ice Cream announced the permanent closure of its Farmington shop Wednesday morning with a post on Facebook. In the post, the company expressed their sorrow over this loss of their second-ever store that opened in 1982. The location was flooded with mud and water when the Sandy River rose and covered lower […]
Posted inBusiness, Health, Local & State, Schools and Education
University of Maine system to explore adding a medical school
The state’s public university system has engaged with a national consultant to study the feasibility of establishing a medical school.