WASHINGTON (AP) — Congressional Democrats are confronting deep divisions within their nervous ranks over whether to support President Barack Obama’s plan to raise taxes on the wealthiest Americans — or just punt the entire matter until after voters go to the polls Nov. 2. Democratic leaders committed to Obama’s proposal were hearing Wednesday from endangered […]
economy
Posted inBusiness, sj-web
Maine gasoline prices up 1.7 cent
PORTLAND, Maine (AP) — A gasoline price-watching website says average retail prices in Maine have risen 1.7 cent per gallon in the past week to $2.68 per gallon. Sunday’s average price compares with the national average, which has increased 3.9 cents per gallon in the last week to $2.72 per gallon. MaineGasPrices.com says Sunday’s average […]
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Data shows the economy is looking up: Jobless claims drop, retail sales rise
WASHINGTON (AP) — A weak economy got a little lift Thursday with new data suggesting companies aren’t pursuing mass layoffs and stores are a little busier. New applications for unemployment benefits declined for a second straight week after rising in the previous three. Retailers reported surprisingly strong sales in August. And more people signed contracts […]
Posted inNation / World, sj-web
Obama: GOP should let small business bill through
WASHINGTON (AP) — President Barack Obama exhorted Congress on Monday to make passing a long-languishing small business aid package its first order of business when it returns next month from its summer break. “I ask Senate Republicans to drop the blockade,” Obama said in the Rose Garden after meeting with his economic advisers. Acknowledging that […]
Posted inMaine, sj-web
Recovery in danger as firms, homebuyers cut back
WASHINGTON (AP) — The economic recovery appears to be stalling as companies cut back last month on their investments in equipment and machines and Americans bought new homes at the weakest pace in decades. Overall orders for big-ticket manufactured goods increased 0.3 percent in July, the Commerce Department said Wednesday. But that was only because […]
Posted inBusiness, sj-web
Credit card debt drops to lowest level in 8 years
NEW YORK (AP) — The amount consumers owed on their credit cards dropped to its lowest level in eight years, as cardholders continued to pay off balances in the uncertain economy. The average combined debt for bank-issued credit cards — those with a MasterCard or Visa logo — fell to $4,951 in the second quarter, […]
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Maine’s average heating oil price down 2 pennies
AUGUSTA, Maine (AP) — Maine’s heating oil prices remain relatively stable this summer, with the price down 2 cents per gallon in a new survey. The Maine energy office said Monday that its weekly price survey found an average price of $2.59 per gallon. Director John Kerry says weak economic figures from the three biggest […]
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Maine gasoline prices drop
PORTLAND, Maine (AP) — A price-watching group says gas prices in Maine have fallen 3.1 cents per gallon in the past week to $2.74 per gallon. MaineGasPrices.com says that compares with the national average retail price, which has fallen 3.1 cents per gallon in the last week to $2.75. Including the change in gas prices […]
Posted inBusiness, sj-web
Jobs picture dims as unemployment claims rise
WASHINGTON (AP) — The employment picture is looking bleaker as applications for jobless benefits rose last week to the highest level in almost six months. It’s a sign that hiring is weak and employers are still cutting their staffs. First-time claims for jobless benefits edged up by 2,000 to a seasonally adjusted 484,000, the Labor […]
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Forced to retire, some take Social Security early
MIAMI (AP) — Paul Skidmore’s office is shuttered, his job gone, his 18-month job search fruitless and his unemployment benefits exhausted. So at 63, he plans to file this week for Social Security benefits, three years earlier than planned. “All I want to do is work,” said Skidmore, of Finksburg, Md., who was an insurance […]