TOKYO — It’s a busy fall morning in the center of the world’s largest city, so naturally an 11-foot-tall Maine Hunting Shoe is driving down Sotobori-dori, one of the throbbing arteries of Ginza, the city’s upscale shopping district. “I really didn’t arrange that,” Hideki Hashiramoto, a senior manager at L.L. Bean International, tells the reporter […]
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Posted inBusiness, sj-web
Maine's GDP up 3.4 percent in second quarter
Maine’s economy grew by 3.4 percent in the second quarter of the year, a performance that ranks 36th nationally. The federal Bureau of Economic Analysis reported Tuesday that Maine posted strong growth in real estate, rentals and leasing along with health care and social assistance during the April-June period. The biggest drags on the state […]
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Posted inMaine, sj-web
Wex Inc. posts revenue gains in third quarter
SOUTH PORTLAND — Wex Inc., the South Portland-based payment technology and business solutions firm, has reported strong growth in the third quarter, with revenue up 18 percent from a year earlier and net income up 53 percent. Higher fuel prices contributed to the payment processor’s growth, along with increases in customer transactions across its three […]
Posted inNation / World, sj-web
U.S. economy surges to 4.1 percent growth rate in Q2
WASHINGTON (AP) — The U.S. economy accelerated last quarter at an annual rate of 4.1 percent, the government estimated Friday, as consumers spent tax-cut money, businesses stepped up investment and exporters rushed to ship their goods ahead of retaliatory tariffs. President Donald Trump said he was thrilled with what he called an “amazing” growth rate […]
Posted inMaine
Overhaul of Maine tree growth tax credit chopped down by committee
AUGUSTA — Legislation designed to dramatically overhaul Maine’s tree growth property tax credit program fell largely on deaf ears Monday as lawmakers on the Legislature’s Taxation Committee unanimously rejected the proposal offered by Republican Gov. Paul LePage. Among other provisions in the bill, LD 1632, is one that would have excluded from the program, which […]
Posted inNation / World, sj-web
Major economic powers express confidence about global growth despite variety of threats
WASHINGTON (AP) — Finance officials of the world’s major economies expressed confidence Friday that they can meet an ambitious goal of boosting global growth by $2 trillion over the next five years. That’s despite a variety of threats including rising political tensions over Russia’s actions in Ukraine. Finance ministers and central bank presidents of the […]
Posted inLewiston-Auburn
Auburn continues review of Growth Council contract
AUBURN — Councilors on Monday said they wanted to pick and choose which parts of a proposed Twin Cities economic development contract they wanted to fund. “It seems to me that we are the stewards of taxpayers’ money,” Councilor Joshua Shea said. “It’s about getting the best bang for our dollar, not about seeing what […]
Posted inBusiness, sj-web
New jobs disproportionately low-pay or part-time
WASHINGTON (AP) — The 162,000 jobs the economy added in July were a disappointment. The quality of the jobs was even worse. A disproportionate number of the added jobs were part-time or low-paying — or both. Part-time work accounted for more than 65 percent of the positions employers added in July. Low-paying retailers, restaurants and […]