Emmett Hayes, former UMass president Jack Wilson, and former governor Paul Cellucci attended a party in 2005 at the University of Massachusetts Club. The club will move to 1 Beacon St. this year and operate under new management.

Bill Brett for the Globe/File

Emmett Hayes, former UMass president Jack Wilson, and former governor Paul Cellucci attended a party in 2005 at the University of Massachusetts Club. The club will move to 1 Beacon St. this year and operate under new management.

Plush UMass alumni club losing money and luster

The club, which was supposed to pay for itself through memberships, has needed nearly $4.3 million in subsidies from UMass.By Sacha Pfeiffer

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Tuesday’s business agenda

Science experiment, smart clothing, and more notable events and things to know.

Teva may raise bid for rival by $2 billion

Teva Pharmaceutical Industries Ltd. is preparing to raise its bid for rival drugmaker Mylan NV by as much as $2 billion, to $43 billion, and may announce the improved proposal as soon as this week, people with knowledge of the matter said.

Stephen Cutler, JPMorgan’s general counsel, to become vice chairman

After helping JPMorgan Chase negotiate multiple billion-dollar settlements with regulators, the bank’s general counsel, Stephen M. Cutler, is taking on a new job as vice chairman.

Buffett’s Kraft Heinz bet worth $24 billion in trading debut

Warren Buffett helped take over H.J. Heinz in 2013 and facilitated its combination with Kraft Foods Group Inc. this year. His prize: a stake of about $24 billion in the new company, which began trading Monday.

Second Time Around expanding upscale clothing resale presence

Second Time Around was never any old secondhand clothing shop.

Reddit’s chief apologizes after employee’s dismissal

After widespread user outrage over an abrupt employee dismissal at Reddit last week, Ellen Pao, chief executive of the online message board, apologized to the site’s members for what she characterized as a history of broken promises and poor communication.

Cape Cod cell reception to improve – for customers of one lucky carrier

The unnamed company will hook up its antennas with fiber optic lines to improve reception.

Oil falls most in five months as worries about Greece, China spread

Crude tumbled the most in five months amid mounting concern about economic stability in Europe and Asia.

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.