Retail
Dunkin’ Donuts arrives in Iceland
Dunkin’ Donuts on Wednesday opened its first store in Reykjavik, Iceland, drawing crowds eager for a taste of the chain’s baked goods and coffee. ‘‘I love the variety they offer,’’ said Steinar Gunnarsson, a student. ‘‘They offer more than just a couple of brands of doughnuts usually found in Icelandic bakeries.’’ Drangasker, the franchise holder, has the right to open as many as 16 restaurants in the country over five years, chief executive Arni Petur Jonsson said. Dunkin’s parent company, Canton, Mass.-based Dunkin’ Brands Group, signed a deal in January to open more than 1,400 shops in China over the next two decades, plus 100 more in Mexico. Worldwide, the company has 11,000 locations in 36 countries.
— BLOOMBERG NEWS
Wall Street
EMC Corp. shares rose 3.2 percent Wednesday after Re/code reported the Hopkinton data-storage giant was considering a deal that would involve a buyout by its subsidiary, California-based VMware Inc. EMC’s board is considering the idea as part of a “wide-ranging strategic review of its operations and as a partial response to pressure from an activist shareholder,” the technology news website said, citing unidentified sources. EMC stock climbed to $26.85 after its biggest one-day jump since December. The stock is down 9.7 percent this year.
— BLOOMBERG NEWS
Retail
Keurig cutting 330 jobs; stock plunges
WATERBURY, Vt. — Keurig Green Mountain, reporting disappointing sales, said it will eliminate about 330 jobs, or 5 percent of its staff. The maker of single-serve coffee-brewing systems said revenue from coffee pods and brewers decreased in the fiscal third quarter. The company aims to save $300 million over the next three years by cutting jobs and becoming more efficient. Shares of Keurig tumbled 26.7 percent to $54.99 in aftermarket trading. Earnings are expected to shrink as Keurig spends at least $100 million on Kold, its cold-drink system, in fiscal 2016. It’s also dealing with higher coffee prices. — ASSOCIATED PRESS
Public policy
lottery machines now require proof of buyer’s age
Lottery terminals at every major supermarket in Massachusetts have been updated with software to prevent minors from buying tickets, said. Lisa McDonald, spokeswoman for the Massachusetts State Lottery. More than 300 machines at Stop & Shop, Shaw’s, Market Basket, Roche Bros., and other chains now require purchasers to scan a driver’s license with every purchase. The change comes amid concerns that people under 18 were illegally buying tickets. — JACK NEWSHAM
Technology
3 of Boston’s neighborhoods are for sale — virtually
Premium Internet addresses are hard to come by, but Boston engineer Ken Granderson thinks he’s got three of the choicest properties around, and he’s willing to part with them. Granderson, a native of Brooklyn, purchased a trio of Internet addresses in 1995 — roxbury.com, mattapan.com, and dorchester.com — for $50 apiece, and annual renewal fees that now come to $24 a year. He had hoped to build a series of community websites to serve African-Americans, but the effort fizzled out by 2002. He’s planning a move to Maryland, but first would like to sell the addresses to the highest bidder. He said estibot.com, a site that appraises the value of Internet addresses, estimated mattapan.com to be worth about $1,000. Roxbury.com could be worth $37,000, and dorchester.com might sell for $40,000. — HIAWATHA BRAY
Wall Street
Neiman Marcus plans a return to the stock market
Neiman Marcus Group, the century-old luxury department-store chain acquired two years ago in a $6 billion leveraged buyout, is going public. The company, owned by Ares Management LLC and the Canada Pension Plan Investment Board, filed for a $100 million initial public offering of stock. The amount is typically a placeholder used to calculate registration fees and may change. Dallas-based Neiman Marcus plans to use proceeds from the IPO to repay debt. Consumer-company IPOs have been a bright spot this year, raising almost $8.8 billion — more than in any other industry. Neiman Marcus, for much of its history a family-run company, was publicly traded from 1987 to 2005. Neiman Marcus also owns the Bergdorf Goodman luxury stores and the offprice Last Call clearance centers. — BLOOMBERG NEWS
Technology
Google Fiber expands to San Antonio
SAN ANTONIO — Google’s ultra-fast Internet service is coming to San Antonio, the largest city yet to be promised the opportunity to accelerate online access speeds. A total of 24 US cities in seven states have now been selected as markets for an Internet service called Google Fiber. Started five years ago in Kansas, the ambitious project represents Google’s attempt to pressure major broadband providers such as Comcast, Verizon Communications, and AT&T Inc. to upgrade their networks so they run at faster speeds. Google Inc. is installing fiber-optic lines in selected cities to deliver Internet service at 1 gigabit per second, which is up to 100 times faster than existing services. — ASSOCIATED PRESS
Technology
Reddit updates policies, aims to be more welcoming
NEW YORK — Reddit, the online site known for free-wheeling discussions, is updating its content policy as it tries to be a more welcoming place. Cofounder and CEO Steve Huffman (right) posted on the site Wednesday that the goal is to consolidate ‘‘various rules and policies that have accumulated over the years into a single set of guidelines.’’ He says illegal content, inciting violence, and ‘‘involuntary pornography’’ are still banned. So what’s new? A community can now be quarantined — so that only people who choose to see its content can do so. Huffman says groups will be quarantined if they would be ‘‘extremely offensive’’ to the average Redditor. He says Reddit is also banning communities that exist solely to annoy others and ‘‘generally make Reddit worse for everyone else.’’ — ASSOCIATED PRESS
Automotive
Tesla cuts forecast after loss triples
DETROIT — Tesla Motors’ net loss nearly tripled to $184 million in the second quarter as it spent heavily to prepare for the launch of its new Model X SUV. The Palo Alto, Calif. maker of electric cars said Model X deliveries will start in the third quarter. Production will ramp up quickly in the fourth quarter. But Tesla said it’s not totally confident suppliers will be able to match its production demands, so it lowered expectations for its total annual sales this year. Tesla said it expects to sell between 50,000 and 55,000 Model S sedans and Model X SUVs, down from a previous target of 55,000. Tesla sold a record 11,532 Model S electric cars in the second quarter. Revenue rose 24 percent to $954.9 million. — ASSOCIATED PRESS
Automotive
Mazda recalls 193,000 SUVs
DETROIT — Mazda is recalling its biggest SUV to fix suspension parts that can rust and come loose, causing a loss of steering control. The recall covers more than 193,000 CX-9 SUVs in the United States from the 2007 through 2014 model years. The company says in documents posted Wednesday by safety regulators that front ball joints can rust from water leaks and separate from the suspension. Ball joints allow the wheels to pivot when the steering wheel is turned. — ASSOCIATED PRESS