The aircraft manufacturer has started rolling furloughs of nonunion employees to conserve cash.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness, Local & State, Morning Sentinel, News
Construction to begin in Unity on Maine’s first halal slaughterhouse
Hussam Al Rawi and his wife, Kathryn Piper, opened Five Pillars Butchery, a halal meat processing business in 2017, after moving to Maine the previous year. The couple were awarded nearly $3 million in federal grants earlier this year to add a slaughterhouse to the butchery at 119 Bangor Road.
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Posted inBusiness, News
Maine home sales rose slightly in August
Mortgage rates dropped in anticipation of the Federal Reserve’s first rate cut in more than 4 years, meaning buyers who were priced out may start house hunting again.
Posted inBusiness, Nation & World, News
Walmart plans instant bank payments, cutting out card networks
Customers will soon have the option to pay directly from their bank accounts with instant transfers for online purchases.
Posted inBusiness, Local & State
Maine employers face heftier fines for labor law violations
The state Department of Labor hopes a new rule that went into effect Thursday will end a pattern of small fines and few collections of penalties.
Posted inBusiness, Nation & World, News
Instagram makes teen accounts private as pressure mounts on the app to protect children
Separate teen accounts for those under 18 are part of an effort to make the platform safer for children amid growing backlash against how social media affects young people’s lives.
Posted inBusiness, Nation & World, News
U.S. home sales fell in August despite easing mortgage rates, more homes on the market
The national median sales price rose 3.1% from a year earlier to $416,700. That’s the highest median price for August on records going back to 1999.
Posted inBusiness, Local & State, News
Madawaska paper mill to receive nearly $10 million Maine tax credit
Twin Rivers Paper Co. Inc. was the only mill eligible for the tax credit meant to help modernize equipment and save jobs. A state report recommends more transparency about business incentives.
Posted inArts & Entertainment, Business, Nation & World, News
MrBeast, Amazon sued by competitors from reality show over alleged ‘unsafe’ conditions
The filing alleges that the multimillion-dollar company behind YouTube’s most popular channel failed to provide minimum wages, overtime pay, uninterrupted meal breaks and rest time for competitors.
Posted inBusiness, Nation & World, News
The Fed is finally lowering interest rates. Here’s what you should know.
The central bank is acting because, after 11 rate hikes since March 2022, it feels confident that inflation is finally mild enough that it can begin to ease the cost of borrowing.