State Street to pay $64m in criminal, civil penalties in trading case

The fraudulent trading involved billions of dollars for at least six of the Boston firm’s overseas clients.

Cambridge--06/26/15 The Volpe Transportation Center, and it's property. Boston Globe staff photo by John Tlumacki(business) kendallsquare100

MIT closes $750m deal to redevelop Volpe Center in Kendall Square

The university plans housing; office, lab and retail space; and public amenities on the 14 acres.

General Motors said it will invest $1 billion in new models and plant updates, which had been planned for months.

GM joins line of companies announcing new jobs, investments in US

General Motors is planning to invest $1 billion in US factories and add thousands of new white-collar jobs.

Jessica Beeson Tocco, a political consultant at A10 Associates in Wakefield, looks over inauguration tickets at her home on January 16, 2017. Tocco is going to the inauguration and helping clients secure tickets. Mark Lorenz for The Boston Globe

Shirley Leung

Who’s going and who’s not to Donald Trump’s inauguration

This being the Democratic stronghold of Massachusetts, it can be hard finding anyone of prominence who wants to attend the inauguration.

Latest Business headlines


A State House go-to guy on energy issues finds a new place in the sun

Ben Downing was the Senate’s lead negotiator on energy issues.

SEC settles with 10 firms over `pay-to-play,’ including two from Massachusetts

Alta Communications Inc. of Waltham and Commonwealth Venture Management Corp. of Woburn among those to settle, without admitting or denying wrongdoing.

Brookline man sentenced to 20 months in federal prison for insider trading scheme

Prosecutors said Amit Kanodia tipped off two friends about an upcoming acquisition.

Merrimack Pharmaceuticals names new chief executive

Richard Peters fills a role that’s been vacant since the October resignation of Robert Mulroy.

Eli Lilly to pay $960m for CoLucid, a Cambridge company with 7 employees

Deal will result in the drug giant buying back an experimental migraine headache treatment discovered in Lilly’s labs and licensed to CoLucid in 2005.

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As cars evolve, gas stations are falling behind

With more hybrid, electric, and possibly driverless cars hitting roads in coming years, gas stations are under pressure to adapt to the needs of the industry, but can they?

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More Business headlines

Thursday’s business agenda

Earnings reports, economic reports, and more notable events and things to know.

Massport gets three bids to oversee Logan Airport shops, restaurants

The bidders are Airmall, which currently manages Terminals B and E; MarketPlace Development, an affiliate of Boston-based New England Development; and ASUR, a Mexican airport operator.


MIT professor brings Deflategate to high school classrooms

MIT’s John Leonard made a name for himself with sports fans through the pro football scandal. Now he’s taking those lessons to schools.

Stock indexes at a standstill

Stocks have been in a wait-and-see period in recent weeks.

The Volpe Center in the Kendall Square.

Talking Points: The next big tech company, MIT buys Volpe Center, and more

A recap of the most important business news from Wednesday.


More than 1,000 volunteer to help Doris Buffett give away her brother’s money

About 1,100 people volunteered to help Doris Buffett give away her billionaire brother’s money.

State says Cambridge hedge fund manager ran Ponzi scheme

Secretary of State William F. Galvin alleges that three funds and the man who started them improperly took in $15.3 million from 47 investors.

Google is buying an arm of Twitter that makes software tools for mobile app developers.

Twitter sells Cambridge software division to Google

A Cambridge-based engineering team that worked on developer tools for Twitter will now work for Google.

Packs of cigarettes for sale at a convenience store in Somerville.

After Mass. raised its cigarette tax, smuggling exploded, study finds

Researchers said nearly 30 percent of all the cigarettes smoked in the state in 2014 were smuggled into the state, many from New Hampshire.

The Hilltop cactus sticks with new development

The old restaurant site’s developer said it plans to incorporate the iconic cactus sign in a new mixed-use development.

New England Aquarium chief executive Nigella Hillgarth is leaving the Boston institution after three years.

New England Aquarium CEO to step down

Nigella Hillgarth’s abrupt decision represents a surprising turn for the aquarium at a time when it is negotiating over a proposed tower next door.

American Airlines aircraft are parked at Ronald Reagan Washington National Airport in Washington, U.S., August 8, 2016. REUTERS/Joshua Roberts/File Photo

American Airlines follows United’s lead with new, cheaper fare class

The new basic-economy tickets limit carry-on bags to one under a seat, bolstering efforts to compete with fast-growing fare discounters.

Ovid opening Cambridge office to work with Takeda

The New York biotech has struck a collaboration deal with the Japanese drug giant to work on a drug to treat rare pediatric epilepsies.

In this Thursday, Aug. 25, 2016, photo, iRobot co-founder and CEO Colin Angle is illuminated in blue-green light while holding a Roomba vacuum in a hallway decorated in patents the company owns, at their headquarters in Bedford, Mass. Angle is transitioning the company from military projects to household robots. (AP Photo/Charles Krupa)

There’s a new home for robots and their makers in Boston

Nonprofit MassRobotics plans to open a new shared startup space in South Boston this month, with the official opening set for Feb. 9.

Hadley, MA - 12\04\14 - The handmade bottling machine that Jonathan Carr (cq) made at Carr's Ciderhouse in Hadley, Mass. When state legislators passed a law last summer allowing consumers to mail-order wine from out-of-state wineries, they accidentally deleted language that allowed Massachusetts farm wineries to sell their product directly to restaurants and liquor stores. The law, set to go into effect on January 1, could cost dozens of Massachusetts farm wineries up to half of their business. Legislators are now scrambling to fix their mistake before the end of the year. Jonathan Carr of Carr's Ciderhouse is one such small producer that would be hurt by this mistake. Lane Turner/Globe Staff Section: BIZ Reporter: Slug: 04farmwinery

‘Everything is on the table’ in sweeping review of state alcohol rules

Massachusetts is about to embark on its most extensive rethinking of alcohol regulation since the end of Prohibition.

Security barricades, protesters, and media in and around Trump Tower since the election has tarnished sales at Tiffany’s flagship.

Sales at Tiffany on 5th Avenue tumble after Trump’s election

Security barricades, protesters, and media in and around Trump Tower since the election has tarnished sales at the posh jeweler’s flagship.

 The Boston skyline.

N.E. economy still growing, though not as fast as the US

The short-term outlook for the six-state region as a whole predicted the strongest economic growth to occur in 2017 and 2018, followed by a period of declining growth.

The Hewlett-Packard (HP) logo is seen as part of a display at the Microsoft Ignite technology conference in Chicago, Illinois, May 4, 2015. REUTERS/Jim Young/File Photo GLOBAL BUSINESS WEEK AHEAD PACKAGE - SEARCH 'BUSINESS WEEK AHEAD 21 NOV' FOR ALL IMAGES

Westborough-based SimpliVity bought by HP for $650 million

Data-center equipment firm was valued at $1 billion in 2015.

Massachusetts gets $12 million in national housing crisis-era settlement with Moody’s

Massachusetts will receive $12 million as part of a nationwide settlement between the US Department of Justice and Moody’s Investors Service Inc., over allegations that the credit-rating agency misled investors about the quality of some mortgage-backed securities in the run-up to the housing crisis.

A workshop on business writing will be offered on Wednesday.

Wednesday’s business agenda

Economic data, workshops, and more notable events and things to know.

Bank stocks pull market lower

The Dow had its third straight loss Tuesday.

21eversource - An Eversource bucket truck. (Eversource)

Healey wants to pull plug on Eversource’s proposed rate hike

Some customers’ monthly bills would go up by about 10 percent.

Airbnb says Boston missed out on millions in tax dollars last year

Airbnb says it collected $175 million in tax revenue for 220 towns and cities last year. Boston wasn’t one of them.

DraftKings backs state regulations it once opposed

The Boston daily fantasy company has embraced state consumer protection regulations, which limited its business but let it proceed legally amid questions about how its cash prizes fit into gambling laws.

In this 2012 photo, arancini balls are readied to be cooked in canola oil at the Whole Foods facility in Everett.

Whole Foods closing troubled Everett kitchen

The facility produced prepared foods for more than 70 Whole Foods stores across the northeast,

Wahlburgers announced it plans to expand into Asia.

Wahlburgers lines up whopper of a deal to expand into Asia

The Wahlberg brothers are about to find out how well their last name is recognized in China.

Boston Ma- 01/07//2017 Massachusetts Governor Charlie Baker (cq) left and the MBTA acting General Manager Brian Shortsleeve (cq) right and other officials at the MBTA headquarters.The officials met to coordinate efforts for a weekend Winter storm hitting the region. Jonathan Wiggs /GlobeStaff) Reporter:Topic

Baker plan would penalize employers that don’t offer insurance

The governor plans to propose a fee of $2,000 per worker for companies that don’t offer health insurance.

Tecfidera, a new pill for multiple sclerosis made by Biogen Idec, in an undated handout image. The Food and Drug Administration on March 27, 2013 approved Tecfidera, which is expected to become a blockbuster because of its combination of efficacy, relative safety and convenience. (Handout via The New York Times) -- NO SALES; FOR EDITORIAL USE ONLY WITH STORY SLUGGED MS-DRUG-SOFAS. ALL OTHER USE PROHIBITED.

Biogen to pay rival $1.25b to settle patent dispute

The settlement concerns an important ingredient used in Biogen’s top-selling multiple sclerosis drug.

A hexacopter drone is flown during a drone demonstration at a farm and winery on potential use for board members of the National Corn Growers, Thursday, June 11, 2015 in Cordova, Md. Routine commercial use of small drones got a green light from the Obama administration June 21, 2016, after years of struggling to write regulations that would both protect public safety and unleash the economic potential and societal benefits of the new technology. (AP Photo/Alex Brandon)

Drone software startup Neurala gets $14m

The Boston startup makes software that lets machines equipped with cameras interpret images and recognize objects, partially automating tasks.

Britain's Prime Minister Theresa May delivers a speech on leaving the European Union at Lancaster House in London, Tuesday, Jan. 17, 2017. (AP Photo/Kirsty Wigglesworth, pool)

British prime minister lays out clean break from EU

Britain won’t “hold on to bits of membership” nor seek associate or partial membership of the bloc, Theresa May said. bounds into Boston

Online pet products retailer opens local office, expects to hire 200 here.

Chinese President Xi Jinping delivered a speech during the first day of the World Economic Forum in Davos, Switzerland, Tuesday.

China’s president stakes out pro-trade turf

At the World Economic Forum in Davos, China’s president pushed back against anti-globalization criticism from Donald Trump and other Western populists.

In 2015, Tufts University students held a sit-in to pressure the administration to divest the school’s investments tied to fossil fuels.


Millennials drive growth in ‘impact investing’

As they begin to invest, millennials want to have a positive impact on the world.

Michael Mulhern stepped down as executive director of the MBTA pension fund last year.

MBTA retirement fund needs independent review, group says

The pension fund too easily dismissed concerns over its money management, a Boston think-tank said.

Apptopia executives Eliran Sapir (left) and Jonathan Kay. The monitors display crucial company data in real time.

Open for business: companies letting workers see it all

Organizations are increasingly opening their finances, e-mails, performance data, and employee salaries for all workers to see.

Turbine mobilizes to catch changing videogame market

The Needham company known for sprawling games such as Lord of the Rings Online is downsizing in more ways than one.

Tuesday’s business agenda

Info sessions, networking, and more notable events and things to know.

Local biotech stands out in down year for venture investment

Biotech and pharmaceutical industries’ continued their yearslong bull run in the Boston area in 2016.

Insurers press case for fix to hospital cost variations

Experts say rules are needed to narrow the gap in prices charged by hospitals for the same services.

Chinese workers watched the production line of pill capsules at a factory in Beijing.


Donald Trump’s targeting of overseas jobs alarms drug makers

Many pharmaceutical ingredients sold in the US are made abroad, and Trump has made it clear that he’s no fan of outsourcing production.

Lynette Carrier (left) and Debbie Williams shopped at Marden’s Surplus & Salvage Store in Scarborough, Maine.

That ugly sweater you returned? It might not go where you think

A growing number of companies are now using online auctions sites to help unload all those returns.

Tech Lab by Hiawatha Bray


Bray writes about technology for the Business section. His Tech Lab column appears on Thursdays.

Shirley Leung


Leung writes a business column every Wednesday and Friday. Previously she served six years as the business editor overseeing daily and Sunday coverage.

Innovation Economy by Scott Kirsner


Kirsner’s Innovation Economy column appears in the Boston Sunday Globe, and he contributes to the Globe’s Beta Boston website.