Asian Shares Slump After Trump Announcement on Virus Plans
Shares have fallen in Asia after President Donald Trump announced the U.S. was stepping up its efforts to combat the virus outbreak that began in China.
Business
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Here’s How to Improve Your Credit Score Right Away
As a general rule, the higher your credit score, the better off you are. However, a missed payment or default can quickly drag your score down, sometimes significantly. As many consumers know, your credit score plays a big role in daily life. It can determine the interest rate you’ll pay for credit cards, car loans and mortgages — or whet... -
Stocks Sink, Bonds Soar for 2nd Day on Fears Coronavirus Will Stunt Economy
Shares are mixed in Asia after Wall Street suffered its worst session in two years, with the Dow Jones Industrial Average plunging more than 1,000 points on worries over the impact of the viral outbreak from China.
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Take the Boston Black Restaurant Challenge
It’s Black History Month, and one way you can mark the occasion is by visiting black-owned businesses. That’s the thought behind the Boston Black Restaurant Challenge that’s going on right now. The Boston Black Restaurant Challenge is an annual celebration promoting community, culture and economic development. During the month of ... -
These Are the 25 Biggest Women-Owned Businesses in Massachusetts
For the first time, the Boston Business Journal is ranking the state’s largest women-owned businesses as a standalone list. Previously, the ranking of companies by revenue had been a combined list of minority- and women-owned businesses in Massachusetts. But this year, each group of businesses — which make major contributions to the Bay State’s eco... -
Officials Say Hynes Center Sale Will Boost Back Bay Hotel, Retail Visits
The Massachusetts Convention Center Authority contends that two new studies show that redeveloping Back Bay’s Hynes Convention Center will lead to significantly more spending on hotels, restaurants and stores in the neighborhood, though some critics of the plan say they remain unconvinced. The MCCA, the quasi-public state agency that owns and opera... -
Dow Plunges 1,000 Points on Coronavirus Fears, 3.5% Drop Is Worst in 2 Years
Shares skidded, oil prices sank and the price of gold surged on Monday as the number of people infected or killed by the viral outbreak that began in China surged, heaping more uncertainty on the economic outlook.
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DuPont Ramps Up Safety Suit Production As Coronavirus Causes Shortages in China
Thousands of DuPont employees are working around the clock to increase production of protective garments that are in high demand by first responders and medical workers in high-impact regions like Wuhan, China. The protective suits are used by health professionals during the outbreaks to reduce the risk of infection. Reports from China sh... -
FDA Approves Drug That Lowers Cholesterol in a New Way
U.S. regulators have approved a new type of cholesterol-lowering drug aimed at millions of people who don’t get enough help from widely used statin pills like Lipitor and Crestor
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Wells Fargo to Pay $3 Billion Over Fake Account Scandal
Wells Fargo, the nation’s fourth-largest bank, agreed Friday to pay a $3 billion fine to settle a civil lawsuit and resolve a criminal prosecution filed by the Justice Department over its fake account scandal. Under pressure to meet sales quotas, bank employees opened millions of savings and checking accounts in the names of actual custo... -
Deere Sees Stability on Farms in Bruising Trade Fight
Deere & Co. had a surprisingly strong first quarter after an extended period in which the tractor and construction equipment maker was bruised by the ongoing trade war between the United States and China. “Farmer confidence, though still subdued, has improved due in part to hopes for a relaxation of trade tensions and higher agricultural export... -
Tax Refunds Are Going To Be Delayed for Filers Claiming These Tax Credits
Millions of households that hustled to get their tax returns to the IRS early could be waiting until March for their refunds. If you’re claiming the additional child tax credit or the earned income tax credit, the IRS cannot issue your refund before mid-February.
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Gap Is the Latest Retailer to Get Into Resale to Try to Fix Its Business
Gap is the latest retailer to dip its toes into the secondhand apparel market, following the lead of Macy’s, Nordstrom and others, in a bid to stay relevant in an industry shaken by changing consumer tastes.
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Kia Recalls SUVs, Vans; Electrical Problem Can Cause Fires
Kia is joining its affiliate Hyundai in recalling thousands of vehicles in the U.S. because water can get into a brake computer, cause an electrical short and possibly a fire.
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More Than $34 Million in Refund Checks Are Being Sent to Some Office Depot Customers
Refund checks totaling more than $34 million will be sent to consumers who allegedly were tricked by Office Depot, Inc. and a software provider into buying computer repair products and services, the Federal Trade Commission announced.
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New Office, Retail Building Pitched for ‘Last Developable Parcel’ on Newbury Street
L3 Capital LLC, a real estate investment firm with offices in Chicago and New York, has pitched a five-story office and retail building at the corner of Newbury and Dartmouth streets in Boston, a surface parking lot that’s billed as the last developable parcel of land on the famed Back Bay street. Boston-based CBT Architects designed the building a... -
Boston Magazine to Leave Its Longtime Back Bay Home
After spending 35 years in the historic Horticultural Hall in Back Bay, Boston Magazine is on the hunt for a new home. The Classical Revival building, located at 300 Massachusetts Ave., sits on the Christian Science Plaza, across from Symphony Hall. “It is bittersweet for us to be looking for a new space, we have loved our time here,” David&#... -
Here’s Why Morgan Stanley Is Spending $13 Billion to Buy E-Trade
Morgan Stanley, the tony investment bank for rich Americans and corporations, is making a play for the masses with its $13 billion takeover of discount brokerage pioneer E-Trade. The move, announced early Thursday, is the biggest takeover by a U.S. bank since the financial crisis. It represents CEO James Gorman’s move to double down on his all... -
Struggling Victoria’s Secret Sold as Women Demand Comfort
Victoria’s Secret, which once defined sexy with its leggy supermodels in their lacy bras and oversized angel wings, has a new owner
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Meal-Kit Company Blue Apron Considers Selling Itself
Blue Apron, the online seller of meal kits, said it may put itself up for sale. The struggling company, which pioneered the meal-kit craze in the U.S., has faced tough competition from online rivals that also ship boxes of raw meat, fish and vegetables to doorstops. Grocers, including Kroger and Walmart, have also been selling their own ready-to-co... -
Burger King’s Moldy Whopper Ad Highlights ‘Beauty of No Artificial Preservatives’
Burger King announced Wednesday it is removing artificial colors, flavors and preservatives from its signature Whopper sandwich in the United States. The Restaurant Brands International chain plans to highlight the change with a global advertising campaign that shows a photo of a moldy Whopper, supposedly 28 days old, with text that reads... -
How Much You Need to Earn to Afford to Buy a Home in 15 Major US Cities
When you’re in the market for a home, saving up for a hefty down payment typically won’t be enough to secure a mortgage. Lenders also expect borrowers to have a decent credit score — 90% of home buyers had a score of at least 650 in the first quarter of 2019 — and an income high enough that they are confident...
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Tax Scams Are in Full Swing. Here’s How to Protect Yourself
Tax season is in full swing — and that means it’s hunting time for scam artists hoping to rip off taxpayers.
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HSBC to Cut Headcount by 35,000 After Net Profit Fell 53% Last Year
Europe’s biggest bank has reported that its net profit fell 53% in 2019 to $6 billion.
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Apple Warns China Virus Will Cut iPhone Production, Sales
Apple Inc. is warning investors that it won’t meet its second-quarter financial guidance because the viral outbreak in China has cut production of iPhones.
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Pier 1 Files for Chapter 11 Bankruptcy
In a somewhat expected move, Fort Worth-based Pier 1 announced Monday that it began Chapter 11 bankruptcy proceedings and is pursuing a sale of the company.
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GM Plans to Pull Out of Australia, New Zealand and Thailand
General Motors says it’s pulling out of Australia, New Zealand and Thailand as part of a strategy to exit markets that don’t produce adequate returns on investments, dismaying officials concerned over job losses
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Trump’s $1.5B Uranium Bailout Triggers Rush of Mining Plans
President Donald Trump’s $1.5 billion proposal to prop up the country’s nuclear fuel industry has emboldened at least one company to take steps toward boosting operations at dormant uranium mines around the West, including outside Grand Canyon National Park
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Here’s How Much the Average Wedding Cost in 2019
Weddings aren’t cheap. In the U.S., weddings cost an average of $33,900 in 2019, including all the expenses related to the engagement ring, ceremony and reception, according to the latest Real Weddings study from The Knot. That’s just $31 less than the average cost of a wedding in 2018, and a significant drop from 2016 when couples spent $35,309 on... -
United and American Push Back Expected Return of Boeing Max
United Airlines won’t use the Boeing 737 Max at all this summer, while American Airlines is still holding out hope for a late August return
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Delta Air Lines CEO Announces Carrier Will Go ‘Fully Carbon Neutral’
Delta Air Lines CEO Ed Bastian told CNBC on Friday the company is going “fully carbon neutral” starting March 1. “It’s a big challenge and it’s a big commitment,” Bastian said on “Squawk Box.” Delta is committing at least $1 billion over the next decade to reduce environmental impact, focusing on clean technological investments for engine... -
Cape Air Proposal for Boston-New York Seaplane Approved
City officials have signed off on Cape Air’s proposal for seaplane service between Boston and New York. The board of the Boston Planning and Development Agency on Thursday gave the go-ahead to the proposal from the Hyannis-based airline. The approval of a one-year trial period for the service comes with some terms and conditions, including a ... -
Machines Replacing Bartenders to Speed Drinks at Encore Casino
Encore Boston Harbor will replace some bartenders with automatic drink-dispensing machines in hopes of speeding up alcohol beverage service for gamblers under a set of alcohol license amendments approved by regulators Thursday.
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In Win for Amazon, Judge Freezes Work on Pentagon Contract
A federal court has ordered the Pentagon to temporarily halt work with Microsoft on a $10 billion military cloud contract that Amazon was initially favored to win
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Medtronic Recalls MiniMed Insulin Pumps for Incorrect Dosing Risk
Medtronic has recalled some of its insulin pumps after one death and more than 2,000 injuries were reported, according to a Wednesday announcement from the Food and Drug Administration. Certain Medtronic MiniMed 600 Series pumps were administering incorrect insulin doses to diabetes patients.
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Wayfair Layoffs Impact 350 Employees in Boston
After years of growth and hiring, Wayfair on Thursday announced layoffs that would impact 550 employees worldwide, including 350 at its Boston headquarters. The Boston-based furniture and home decor company — which has its headquarters at the Copley Place mall — gave the news to its employees on Thursday through an email. The company, which employs... -
McClatchy Files for Bankruptcy Protection, Ending Family Control of Newspaper Chain
The publisher of the Miami Herald, The Kansas City Star and dozens of other newspapers across the country is filing for bankruptcy protection. McClatchy Co.’s 30 newsrooms, including The Charlotte Observer, The News & Observer in Raleigh, and The Star-Telegram in Fort Worth, will continue to operate as usual as the publisher reorganizes u... -
Scandal-Hit Nissan Sinks Into Losses as Sales Plummet
Nissan, reeling from a scandal over its former superstar executive Carlos Ghosn, says it sank into red ink for the latest quarter as its vehicle sales fell around the world.
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UK Regulators Probe Barclays CEO’s Link to Jeffrey Epstein
Barclays chief executive Jes Staley has said he deeply regrets his relationship with Jeffrey Epstein.
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Virus Worries Force Cancellation of Mobile World Congress, Major Tech Show in Spain
Organizers of the world’s biggest mobile technology fair are pulling the plug over worries about the viral outbreak from China.
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Trump Says US Working on Trade Deal With Ecuador
President Donald Trump says he’s working on a trade deal with Ecuador’s President Lenin Moreno, who on Wednesday became the South American nation’s first chief of state in 17 years to meet with an American president in Washington.
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Malware Attack Disrupts Computers for Hundreds of Doctors in Mass.
A malware attack has disrupted the computers of hundreds of doctors affiliated with Children’s Hospital Boston. The Pediatric Physicians’ Organization at Children’s (PPOC) said Tuesday it experienced a system outage due to a “malware incident.” The hack within the physician network impacted more than 500 doctors and ot... -
US Soccer Men’s Union Says Women’s Pay Should Be Tripled
The U.S. men’s national team urged the U.S. Soccer Federation to sharply increase pay of the American women and accused the governing body of making low-ball offers in negotiations with the men
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Penned Lions Still on Offer at US Trophy Hunting Convention
An undercover video recorded by animal welfare activists shows vendors at a recent trophy-hunting convention promoting trips to shoot captive-bred lions in Africa, despite past public assurances by the event’s organizers that so-called canned hunts wouldn’t be sold
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Federal Report Faults Southwest Airlines and FAA on Safety
Southwest Airlines continues to fly airplanes with safety concerns while federal officials do a poor job overseeing the airline, a government watchdog said Tuesday. The airline has flown more than 150,000 flights on 88 jets it bought on the used-plane market and which had unconfirmed maintenance histories, the Transportation Department’s insp... -
What T-Mobile Takeover of Sprint Means for You: AP Explains
T-Mobile’s $26.5 billion takeover of Sprint could mean higher or lower phone bills, depending on whom you ask. A federal judge in New York ultimately took T-Mobile’s track record of aggressive competition into account in ruling Tuesday that the deal would be good for consumers. In doing so, he rejected a challenge by a group of states worried... -
9 Things New Parents Need to Know Before Filing Their Taxes in 2020
Having a new baby can not only change your sleep patterns, it can also change how you file your taxes.
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Samsung’s New Foldable Phone: Cheaper, But Still a Novelty
Samsung on Tuesday unveiled a new foldable phone, the Galaxy Z Flip
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China Denies Cyber Theft Following Equifax Accusations
China is denying involvement in any hacking activities after the United States indicted four members of the Chinese military for allegedly breaking into the computer networks of the Equifax credit reporting agency and stealing the personal information of tens of millions of people
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Now For Sale at the Mall…the Mall; Simon Buys Taubman
As mall-based retailers struggle to compete with the onslaught from online shopping, the companies that own and manage the malls are finding their own business models severely challenged.
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US Says Chinese Military Stole Americans’ Data in Equifax Breach
Four members of the Chinese military have been charged with breaking into the networks of the Equifax credit reporting agency and stealing the personal information of tens of millions of Americans, the Justice Department said Monday, blaming Beijing for one of the largest hacks in history. The 2017 breach affected roughly 145 million people, with t... -
These Are the 10 Best Cities for Women in Tech
Between 2018 and 2028, more than 500,000 new jobs are expected to be added to the computer and information technology workforce, according to the U.S. Bureau of Labor Statistics. But despite this growing demand for talent, the tech industry has made slow gains in providing equal opportunity for both men and women in the field. In 2018, accordi... -
TD Garden Will Replace Brand-New Balcony Seats Following Complaints
The prayers of Bruins and Celtics fans have been answered: the brand-new balcony seats at TD Garden will be replaced. For several months, fans have complained that the seats are uncomfortable. Amy Latimer, TD Garden president, announced the project on Friday. “Through guest feedback, we recognized that there were some areas of concern regardi... -
Credit Suisse Says CEO Thiam Resigns Amid Spying Scandal
The CEO of Swiss bank Credit Suisse is resigning after nearly five years on the job, saying that a spying scandal caused “anxiety and hurt” and tarnished the firm’s reputation
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Economic Impact of Virus Widens as Ericsson Exits Trade Show
More than a month after the outbreak of China’s deadly virus, the economic damage is being felt by more businesses and is threatening the outlook for the global economy
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Want to Save on Your 2019 Taxes? Grab These Last-Minute Opportunities
Tax season has just started, but you can still find opportunities to cut your 2019 taxes if you know where to look. The IRS started accepting tax returns on Jan.27, kicking off the long march to April 15 — the deadline for taxpayers to pay last year’s liabilities.
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Why Veterans Are Starting Their Own Businesses in This Red-Hot Job Market
Robert Bannon is no stranger to adversity. The former U.S Army veteran served in four combat tours, including Desert Storm and Operation Iraqi Freedom. But when he retired as a lieutenant colonel after 21 years of active military duty, he struggled to reinvent himself in civilian life. A former commander of a 500-soldier aviation battalio... -
Global Tourism Takes Major Hit as Virus Halts Chinese Travel
This should have been a good year for global tourism, with trade tensions gradually easing, certain economies growing and banner events like the Summer Olympics taking place in Tokyo.
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China Cuts Tariffs on $75B of US Imports in Trade Truce
China has cut tariffs on $75 billion of U.S. imports including soybeans, pork and auto parts in a trade truce with Washington as Beijing struggles with a costly virus outbreak.
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Nike Is Dressing 2020 Olympic Athletes in Uniforms Made of Recycled Shoe Parts
At the Tokyo 2020 Olympics, elite athletes will sleep on beds made of cardboard. Olympic medals are being constructed out of recycled electronics, such as cell phones. And Nike will be dressing its athletes in uniforms and sneakers made out of recycled polyester and ground-up shoe parts. It’s part of a broader sustainability push by the s... -
L.L. Bean to Cut 200 Jobs
L.L. Bean is eliminating 200 jobs across the company and closing its call center in Maine’s second-largest city as part of a reorganization. The layoffs will include full- and part-time employees across all levels, spokeswoman Carolyn Beem told the Portland Press Herald. “We are going through the process of reorganizing certain areas of the c... -
Macy’s to Close 125 Stores, Cut 2K Corporate Jobs, in Hunt for Growth
Stuck in a sales slump, Macy’s is shrinking to grow. The department store chain announced Tuesday it plans to shut 125 stores over the next three years and slash about 2,000 corporate jobs, as it closes its Cincinnati headquarters and tech offices in San Francisco. Macy’s said it plans to exit weaker shopping malls, and instead shift its focus towa... -
Sephora to Open 100 Stores in 2020, in Bid to Grow Outside of the Mall
Beauty retailer Sephora has big growth plans, at a time when many businesses are shutting their doors for good.
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Jeff Bezos Sued for Defamation by Girlfriend’s Brother
Amazon CEO Jeff Bezos is being sued for defamation by Michael Sanchez, the brother of his girlfriend, Lauren Sanchez. The lawsuit accuses Bezos of spreading false rumors to journalists that Michael Sanchez had leaked nude photographs of Bezos to the National Enquirer. Gavin de Becker, Bezos’ security chief, is also named in the complaint, whic... -
China Stock Market Has Worst Day in Years Amid Virus Fears
The Shanghai Composite index has tumbled nearly 8% as Chinese regulators move to stabilize markets jolted by a virus that has spread to more than 20 countries, slamming regional tourism and threatening global growth.
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Watch Gov. Charlie Baker Addresses Greater Boston Chamber of Commerce
Massachusetts Gov. Charlie Baker will address the Greater Boston Chamber of Commerce breakfast Tuesday morning.
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Stocks Sink on Fears Virus Outbreak Will Dent the Economy
Stocks fell sharply on Wall Street as investors feared that a virus outbreak that originated in China will dent the global economy
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Pilots Union Files Suit to Halt American Airlines Flights to China Amid Coronavirus Outbreak
The union that represents American Airlines pilots said Thursday that it’s suing the carrier to halt service to China amid the coronavirus outbreak, which has killed more than 170 people in China and infected more than 8,000 around the world. The Allied Pilots Association, which represents about 15,000 pilots for the Fort Worth, Texas-bas... -
Hummer Is Making a Comeback, But This Time It’s Electric
The Hummer is making a comeback, only this time it won’t guzzle gas or spew greenhouse gases
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How Much the Average Home Costs in 2020
Home buying is expected to keep picking up in 2020, with mortgage rates around a full percentage point lower than they were this time last year. Prices are getting a boost in many markets, too, with housing inventory low across the country. To get a sense of how much you can expect to pay if you are in the market for...
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Fed Leaves Key Rate Alone But Sees Virus Among Global Risks
The Federal Reserve kept its key interest rate unchanged at a low level Wednesday amid an economy that looks solid but faces potential global threats, including from China’s viral outbreak. The Fed sketched a mostly bright picture of the U.S. economy in a statement it released after its latest policy meeting. Yet it also cautioned that it would mon... -
Trump Signs New Trade Deal With Canada, Mexico to Replace NAFTA
President Donald Trump on Wednesday signed into law a major rewrite of the rules of trade with Canada and Mexico that he said replaces the “nightmare” of a Clinton-era agreement and will keep jobs, wealth and growth in America.......Trump made renegotiating the North American Free Trade Agreement a priority during his 2016 campaign, although ... -
Casino Operator Buys Stake in Barstool Sports Site for Sports Betting
A national casino operator is betting the popular but controversial website Barstool Sports can be the face of its sports betting efforts. Penn National Gaming said Wednesday it has acquired a 36% interest in the company, which was founded in suburban Boston in 2003, for about $163 million. The Pennsylvania company says it will then increase its ow... -
Watch Out, Chick-fil-A! McDonald’s Debuts 2 New Chicken Sandwiches
Breakfast sandwiches have long been a morning favorite and ever since Popeyes managed to turn a classic fast-food item into a viral sensation, good fried chicken sandwiches are becoming a must-have item for any decent chain.......McDonald’s, which has had a basic chicken sandwich on the menu for decades, is now putting its McChicken patty to good u... -
Bad Timing: New Virus Poses Threat to Fragile World Economy
This should be peak season for a 12-room hotel near the train station in the Chinese industrial hub of Wuhan. The Chinese New Year usually brings in plenty of travelers and delivers profits of around $3,000 a month. But the place is empty. Wuhan, the center of a deadly viral outbreak, is on lockdown. “There is not a single customer,’’…... -
NY, Feds Sue ‘Pharma Bro’ for ‘scheme’ to Keep Drug Price Up
State and federal authorities are suing imprisoned drug entrepreneur Martin Shkreli over tactics that shielded a profitable drug from competition after a price hike made the so-called “Pharma Bro” infamous
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Planters Pauses Mr. Peanut Funeral Ad Campaign After Kobe Bryant Death
Kraft Heinz snack brand Planters is pausing paid advertising behind a campaign about the apparent death of its animated mascot, Mr. Peanut, after a helicopter crash Sunday killed nine people, including retired NBA superstar Kobe Bryant and his 13-year-old daughter Gianna. “We wanted you to know that we are saddened by this weekend’s ... -
Kobe Bryant’s Business Empire Broke the Mold for Retired Athletes
Kobe Bryant was best known for bringing his competitive spirit to the basketball court — the “mamba mentality” as it was called — but in recent years, he also applied it to the business world, according to NBC News.
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Asian Shares Sink on Mounting Worries Over China Outbreak
Asian shares are sliding on deepening worries over the expanding outbreak of a new virus in China
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Boeing’s 777X, the World’s Largest Twin-Engine Jet, Completes Maiden Flight
Boeing’s 777X, a new generation of the wide-body aircraft, completed its maiden flight on Saturday — marking a milestone for the company struggling through the increasing fallout from two fatal crashes of its best-selling 737 Max. Bad weather postponed an attempt at the first flight on Thursday and again on Friday. The first flight, which took off ... -
Boeing 737 Max Could Be Recertified Before Midyear, FAA Says
The head of the Federal Aviation Administration has told airlines that it could lift a flight ban on the Boeing 737 Max before midyear, ahead of the manufacturer’s new timeline that it shared with its customers this week. The news sent Boeing’s shares higher. The planes have been grounded since March after two deadly crashes in ... -
US Vows Greater Effort to Fight Flood of Counterfeit Goods
The Trump administration pledged Friday to step up efforts against the vast amounts of counterfeit clothing, medicine and other goods that have flooded into the U.S. in increasing waves with the rise in e-commerce. Customs and Border Patrol would subject online retailers, including the growing number of third-party sales that have proliferated on m... -
Why Planters Killed Off Mr. Peanut
Planters confirmed that Mr. Peanut died during a pre-Super Bowl ad and nut lovers everywhere Wednesday are mourning his death, NBC News reports.
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110 Million Consumers Could See Their Credit Scores Change Under New FICO Scoring
Americans who are struggling to pay off their debt could see lower FICO credit scores in their future, especially if they miss payments. Fair Isaac Corp., the company behind the popular FICO credit score, announced the launch of its latest FICO 10 model today, Jan. 23, that will start incorporating consumers’ debt levels into their scoring model.... -
Needham-Based TripAdvisor Reducing Its Workforce by ‘Hundreds’
Needham-based TripAdvisor Inc. says it’s “prudently reducing and re-allocating expenses” in some areas, and multiple reports — which the company is not disputing — suggest that includes layoffs of “hundreds” of workers. In a statement to the Business Journal, the online travel platform company said it is “prud... -
As Loneliness Increases, Younger Workers and Social Media Users Feel It Most, Survey Finds
It is often said that it’s lonely at the top, but loneliness on the job is a growing issue well beyond the corner office.
American workers are feeling more isolated, and younger workers are experiencing loneliness more so than their older co-workers, according to a new Cigna study.
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Acclaimed Fenway Restaurant Sues Developer Over Lease Buyout
The owners of the shuttered Fenway restaurant Tapestry have sued the Boston developer Cabot Cabot & Forbes and their former landlord, saying they have yet to receive the portion of the $1.5 million they’re due for ending their lease early to clear out for a major new apartment complex. The Cabot firm and the Los Angeles real estate investment f... -
Former Wells Fargo CEO Fined $17.5M for Sales Scandal
Federal regulators have slapped former Wells Fargo CEO John Stumpf with a $17.5 million fine for his role in the bank’s sales practices scandal
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Trump Administration Approves Keystone Pipeline on US Land
The Trump administration has approved a right-of-way allowing the Keystone XL oil sands pipeline to be built across U.S. land
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Trump Says Fed Raising Interest Rate Was ‘Big Mistake’
President Donald Trump on Wednesday said that the U.S. economy’s GDP growth would have been closer to 4% if it weren’t for the lingering effect of Federal Reserve rate hikes.
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Boeing Doesn’t Expect 737 Max to Be Cleared Until Summer
Boeing said Tuesday that it doesn’t expect federal regulators to approve its changes to the grounded 737 Max until this summer, several months longer than the company was saying just a few weeks ago. That timetable — the latest of several delays in the plane’s approval process — will create more headaches for airlines by pushing the Max... -
BMW Recalls About 357K Vehicles for Takata Air Bag Inflators
BMW is recalling nearly 357,000 older vehicles in the U.S. to replace dangerous Takata front air bag inflators. The inflators are among 10 million sold to 14 automakers that Takata is recalling. It’s the last recall that the bankrupt Takata agreed to in a 2015 settlement with U.S. safety regulators. The U.S. government released details of thr... -
Student Debt Is Over $1.6 Trillion and Hardly Anyone Is Paying Down Their Loans
The rapid increase of student loan debt has slowed over the past few years, but individual borrower balances aren’t going down mostly because hardly anybody is paying down their loans. Total indebtedness over the past year or so has stopped its meteoric rise, according to a study that Moody’s Investors Service released Thursday. Nevertheless, the s... -
Payless ShoeSource Emerges From Bankruptcy — Again
Payless ShoeSource said Thursday it has emerged from Chapter 11 bankruptcy protection for a second time, with a renewed focus on its international operations. It filed for bankruptcy in February and ultimately shut down all of its 2,500 U.S. stores.
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Panel Finds FAA Followed Procedures in Approving Boeing Max
A government advisory committee has concluded that federal regulators followed established procedures when they certified the Boeing 737 Max and did not delegate too much safety analysis for the plane to Boeing.......In a report Thursday, the panel said the FAA correctly treated the Max as an update to older 737s and not as a new type of plane, whi... -
America’s Favorite Valentine’s Day Candy Is Back, But Not Without a Few Hiccups
Sweethearts, the conversation heart candy, is back on shelves for Valentine’s Day after missing a year because of a change in its ownership. Sweethearts’ original producer, New England Confectionary Company, went out of business in 2018. Round Hill Investments, which bought Twinkie-maker Hostess while it was in bankruptcy proceedings, purchased the... -
Starbucks Expands Presence in Low-Income Communities
Starbucks is expanding a program that tries to help low-income communities by opening coffee shops in them and hiring local workers. The Seattle-based company plans to open or remodel 85 stores by 2025 in rural and urban communities across the U.S. Each store will have event space and Starbucks will partner with local United Way chapters to offer p... -
Here’s What China Agreed to Buy From US in Phase One Trade Deal
China agreed to purchase an additional $200 billion in U.S. goods over the next two years as part of the “phase one” trade deal. The additional purchases will come on top of the 2017 U.S. export numbers. The deal stipulates that Beijing will buy $77 billion in additional goods and services in 2020 and $123 billion in 2021 to meet…
