Boston Business Journal

As of now, the Boston Marathon is still on for Sept. 14. But media reports this week suggested the race is in jeopardy, given the still-raging global pandemic. Should organizers cancel the marathon, the runners would not be the only disappointed ones. The nonprofits that rely on the marathon, many of them based in Greater Boston, would see yet another…

Mass General Brigham expects to lose $400M per month due to the coronavirus shutdown. The health network’s CFO said even in the first quarter, which included just the start of the pandemic, the system suffered a massive operating loss. It expects to lose $400 million a month for the coming quarter. The system formerly known as Partners HealthCare reported a…

Massachusetts employers should prepare for psychological fallout from the coronavirus pandemic and plan to have a workplace testing strategy, two of the Bay State’s top employers said. In a virtual panel as part of the World Medical Innovation Forum, Peter Markell, chief financial officer of Mass General Brigham, and Marc Casper, president and CEO of Thermo Fisher Scientific Inc.,...

Small businesses in and around Boston have lost a higher percentage of their revenue during the Covid-19 pandemic than their counterparts in almost every other major U.S. metropolitan area, including hard-hit cities like New York, according to a new Harvard-developed data tracker. As of April 25, total small-business revenue had decreased by 74.9% in Suffolk County compared to early January,…

The Baker administration has hit more than 60 businesses with cease-and-desist orders in recent weeks for allegedly violating restrictions related to Covid-19, including big-name retailers like Hobby Lobby Stores Inc., Nordstrom Inc. and Williams-Sonoma Inc. In most instances, the firms had failed to close their brick-and-mortar locations even though they were not performing what the state considers to be essential…

A half-dozen high-profile executives of Boston-area companies are joining groups established by the White House to help guide U.S. industries through the coronavirus pandemic. They include Patriots owner Robert Kraft, Biogen CEO Michel Vounatsos, Fidelity CEO Abigail Johnson, GE CEO Larry Culp, Raytheon CEO Gregory Hayes and Thermo Fisher CEO Marc Casper. President Donald Trump first mentioned the task...

Celebrity chef Guy Fieri is expanding his portfolio in Boston with two forthcoming restaurants across from Boston Common. The space at 186 Tremont St. had been home to Explorateur, a full-service European café, restaurant and bar, since August 2017. Explorateur will close March 2 to allow for “a complete renovation of the space,” according to a press release. Each employee…

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 economy — have an opportunity to…

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 operates the Hynes, commissioned the studies late last...

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 at...

Boston Properties Inc. holds the most valuable Boston properties, at least from the tax man’s perspective. The developer’s property in Boston proper soared past $4 billion in taxable assessed value in 2019, putting the real estate firm (NYSE: BXP) at the top of a list of the city’s largest taxpayers. City officials earlier this month published a list of the...

One of the penthouse units at the 61-story Four Seasons Hotel & Private Residences, One Dalton St. has sold for $34 million, just missing the Boston record for most-expensive condo sale by $1 million. The sale of One Dalton St., Unit 6102 — which includes two parking spaces — was recorded Friday in Suffolk County. The buyer is listed as…

Residential property tax rates in cities and towns around Massachusetts continued to decline this year as commercial rates edged upward, indicating that more communities are shifting the burden of their municipal budgets onto local businesses. This year, the median residential tax rate among all 345 communities that had approved new tax rates as of Jan. 3 was $15.27 per $1,000…

DraftKings Inc. plans to become a public company as part of an agreement that also brings in another gambling tech firm under the Boston-based sports gaming and online betting company’s umbrella. Diamond Eagle Acquisition Corp. has entered into the agreement with DraftKings, which is also combining with SBTech. Diamond Eagle is expected to change its name to DraftKings Inc. and...

After months of work and requests for employee feedback, the largest health system in Massachusetts has a new name: Mass General Brigham. Partners HealthCare announced the rebrand the day before the Thanksgiving holiday. The rebrand was coupled with the announcement of a new five-year plan for the 12-hospital system.

Members of the Massachusetts Package Stores Association are challenging the constitutionality of a Cumberland Farms ballot proposal that would, among other things, allow retailers to sell alcohol in an unlimited number of their stores statewide. Westborough-based Cumberland Farms put forward the proposal this summer. It’s currently on track to go before voters in November 2020.

A downtown tower that’s been discussed for the better part of a decade — and was a key part of two lawsuits — is finally moving forward. Boston-based real estate development company The Chiofaro Co. on Wednesday filed a letter of intent notifying city officials of its plan to build a $1 billion tower, which could span 900,000 square feet...

A year after the first recreational marijuana shops opened in Massachusetts, cannabis product sales have generated nearly $3.5 million in combined taxes and fees and a generally warm buzz for the first two towns to allow it. The revenue represents the first full year’s worth of the collected 3% local sales tax and the negotiated community impact fees for Northampton...

Esports league Boston Uprising and Helix eSports will open an 18,000-square-foot esports complex at Patriot Place in Foxborough this January, marking the first gaming center adjacent to a major professional sporting venue, the Kraft Group said Wednesday. The Boston Uprising practice facility and Helix eSports gaming center will feature 100 gaming stations with personal computers, gaming and network infrastructure and...

The 29-acre Martha’s Vineyard estate owned by Boston Celtics owner Wyc Grousbeck — which former President Barack Obama and First Lady Michelle Obama had reportedly been in escrow to purchase — is now under a purchase and sale agreement, according to a residential listing service. The Martha’s Vineyard Times first reported the agreement.