Latest business headlines

The latest business news from the region and nation

Tufts Medical Center forms clinical partnership with South End Community Health Center

Boston teaching hospital Tufts Medical Center said Wednesday it has formed a clinical affiliation with the South End Community Health Center to improve health care services available to residents of Boston’s South End and lower Roxbury neighborhoods.

TelexFree owners charged with fraud, conspiracy

A grand jury indicted James Merrill of Ashland and Carlos Wanzeler on nine counts in the alleged $1 billion pyramid scheme.

New rendering for waterfront towers is unveiled

Donald Chiofaro’s plan involves a pair of skyscrapers — one clad in glass, the other in terra cotta — that would would rise to 600 feet along Atlantic Avenue.

SEC issues stricter money market rules

The rules are aimed at making the investments less risky to the financial system in a future downturn.

Winner of Kayem Fenway Frank contest tops a hot dog with pulled pork and slaw

Uber chef for a day? Peter Anastasi of Watertown wins Kayem’s Fenway Frank contest by using the hot dog as a delivery platform for pulled pork and cold slaw.

Tech lab

Amazon Fire phone merely lukewarm

The online giant has delivered the features you’d expect in a top-line superphone and layered in an array of uniquely Amazonian features.

Verastem is relocating from Cambridge to Needham

Verastem Inc., a Cambridge company focused on discovering and developing drugs to treat cancer, is moving to larger quarters in Needham.

Biogen Idec MS drug is approved by European regulators

Cambridge biotech Biogen Idec Inc. has received approval from the European Commission to sell Plegridy, an advanced new interferon drug to treat multiple sclerosis, in European countries.

As business slows, Market Basket workers prepare for rally

Market Basket employees called for the “biggest and final rally” on Friday, the same day the company’s board meets.

Timberland promotes Stewart Whitney to position of brand president

Timberland, an outdoor brand with a New England heritage, said Wednesday that Stewart Whitney will be promoted to brand president, effective Oct. 5.

Thermo Fisher Scientific reports 2Q results, raises 2014 earnings guidance

Thermo Fisher Scientific said that net income for its second quarter was $278.5 million as revenue increased 33 percent to $4.32 billion.

Massachusetts foreclosure starts rise in June, the Warren Group says

Massachusetts foreclosure starts in June rose 99.1 percent when compared with foreclosure starts in June 2013, the Warren Group said.

Logan’s new kiosks lessen customs wait

The first 20 kiosks were installed last month and have reduced processing times by about 19.4 percent, according to US Customs.

GateHouse Media parent to buy Providence Journal

New Media Investment Group reached an agreement to purchase the newspaper in a cash deal, the company announced Tuesday.

State crackdown shuts migrant labor camps in Western Mass.

The shut down came last year after finding migrant workers underpaid, overworked, and living in squalor.

China meat scandal hits Starbucks, Burger King

Chinese authorities expanded their investigation of the meat supplier, Shanghai’s Husi Food Co.

Condo bill would toughen rules for document access

Condo owners often need their associations’ financial information to refinance or put their homes up for sale.

Coakley’s Partners settlement tripping up Baker, Grossman

You don’t have to go to the beach to look for flip-flops this summer. There’s a pair in the gubernatorial race.

Protect yourself from identity theft

Here are five ways you can avoid becoming a victim of identity theft — even if your data have been compromised.

As US economy hums, some see peril overseas

Just as the U.S. economy is strengthening, other countries are threatening to drag it down.

Senate panel takes on tax inversions

The chorus of voices on Capitol Hill calling for an end to corporate inversions grew louder on Tuesday.

In a sign of its rebound, CIT will acquire OneWest

The deal illustrates how casualties of the financial crisis have moved on, and even prospered.

Apple posts biggest earnings gain in two years

The company sold 35.2 million iPhones in the third quarter, a a 13 percent increase from the same time last year.

Market movers

Chipotle stock surges as sales boom

The chain raised its prices this year after rising food costs ate up some of its profit. But instead of sales slowing, they jumped.

Ackman goes after Herbalife’s nutrition clubs

Wall Street shrugged off the attack and the stock soared 24.5 percent Tuesday — the most in its history.

Mass. movers

Waters buys ‘iKnife’ surgical technology

Milford-based Waters Corp. said it has acquired the technology, which could potentially be used for real-time diagnostics in surgery.


US stocks climb as earnings reports roll in

Solid earnings at a range of big companies helped nudge stocks higher.

Judge approves 1st settlement in 38 Studios case

PROVIDENCE, R.I. — A judge on Tuesday approved the first settlement in the lawsuit brought by the state’s economic development agency over the collapsed video game company founded by former Red Sox pitcher Curt Schilling.

US consumer prices up 0.3 percent in June

WASHINGTON — US consumer prices rose in June at a slightly slower pace than in May with two-thirds of the June advance driven by the largest jump in gasoline prices in a year.

Nokia Bolsters Microsoft Revenue, but Earnings Slip

SEATTLE — Microsoft’s sales got a big boost from its acquisition of Nokia’s mobile phone business. Its profits were less fortunate.

Comcast earns $2b billion on strength in cable business

Comcast said Tuesday that it should be big enough if its $45 billion deal for Time Warner Cable goes through and won’t need to make any more major acquisitions, even as merger activity reaches a fevered pitch across the industry.

Saudi stock market to allow foreign investment

RIYADH, Saudi Arabia — The Saudi government has approved a measure that will open the region’s largest stock market to direct foreign investment next year, news that sent the exchange surging Tuesday to its highest level in nearly seven years.

Providence Journal sold for $46 million

New Media Investment Group reached an agreement to purchase the newspaper in a cash deal, the company announced Tuesday.

Net income, revenue rise at State Street Corp.

State Street Corp. chief executive Joseph “Jay” L. Hooley sounded a more optimistic tone Tuesday than he has in recent months, declaring the economy in “as good a place as we’ve been at any point post-crisis.’’

Apple tops forecasts with $7.7 billion quarterly profit

The company sold 35.2 million iPhones in the third quarter, a a 13 percent increase from the same time last year.

Statement from Market Basket executives on worker firings

Market Basket’s co-chief executives said Tuesday that “we took the difficult step of termination only after we saw no alternative.”

Elected officials who support of Market Basket employees

The list of legislative supporters of Market Basket employees, as maintained by the office of state Senator Barry R. Finegold, Democrat of Andover.

Employee arrested at Market Basket in Epping, N.H.

The employee was arrested for reckless driving in the store’s parking lot Tuesday morning.

Rethink Robotics inks deals with three new distributors

Rethink Robotics has partnered with three new distributors as it looks to get its robots into more universities, schools, and corporate labs.

Market Basket regulars find ready alternatives

Supermarkets across Mass. are experiencing a rush of business from customers once loyal to Market Basket.

Waters Corp. buys ‘intelligent knife’ technology

Waters Corp., a manufacturer of lab equipment and medical products, has acquired the technology for the ‘‘Intelligent Knife,’’ a device that could potentially be used for real-time diagnostics in surgery.

Fidelity Investments says it continues to be tops in the retirement business

Fidelity Investments, the Boston-based financial services company, said Tuesday that it has strengthened its top position in the retirement business in the first half of 2014.

Synlogic raises $29.4m to help develop synthetic biology platform

Synlogic Inc. said Tuesday that it has raised $29.4 million in a Series A financing led by Atlas Venture and New Enterprise Associates.

A car lease lets you upgrade as often as a phone deal, but there are costs

Auto leasing is back in a big way as automakers including Volkswagen and General Motors pull back on discounts and rebates.

No longer a second choice, Mass. condos in high demand

Across the state, thousands of people are giving up big backyards and privacy in return for less maintenance and more amenities.

Market Basket management paying for missteps in standoff

What began as a family feud has quickly escalated from a public relations nightmare into an outright business crisis.

Ousted Market Basket leader urges worker rehirings

“It’s been a very difficult time for the hard-working associates of the company this past few weeks,” Arthur T. Demoulas said.

Pro bono ambassadors building goodwill

Global companies are starting to send employees around the world to do pro bono consulting in developing countries.

Allergan to cut 1,500 employees in restructuring

Botox maker Allergan Inc. will cut 13 percent of its workforce to become more efficient.

Verizon offers rewards, if you agree to be tracked

Verizon Wireless is launching a loyalty program this week for its 100-million-plus subscribers.

Shareholder urges EMC to drop VMware

One of the largest shareholders in EMC Corp. plans to pressure the technology firm to split off its VMware unit to boost the company’s stock price.

For Cape’s shops, sharks spell sales

Great white sharks are having an unusual effect on Cape Cod this summer, and many a merchant is going to need a bigger wallet.

Fidelity to team with Credit Suisse on IPOs

With IPOs continuing to stream out of Wall Street’s pipeline, Fidelity Investments is moving to ensure that its retail customers can get a piece of the action.

Food safety fears hit US firms in China

McDonald’s, KFC, and Pizza Hut apologized Sunday to Chinese fast food customers after a meat supplier was caught mishandling its products.

Gay, transgender workers gain US bias protection

President Obama told advocates he embraced the ‘‘irrefutable rightness of your cause.’’

Mass. Movers

Skyworks climbs on higher price targets

Shares of Woburn’s Skyworks Solutions Inc. rose following higher price targets from Fox Business Network’s Charles Payne and Topeka Capital Markets.

Market Movers

International sales power R.I. toymaker

Pawtucket, R.I.-based Hasbro Inc. reported an 8 percent rise in second-quarter revenue on a 17 percent jump in global sales.

Accounting giant to buy Parthenon

The 23-year-old Boston consulting firm has agreed to be acquired by accounting giant Ernst & Young.

Snapshot: Global tensions handcuff stocks

US stocks slumped as investors weighed a mixed batch of corporate earnings against mounting political turmoil in Ukraine.

Sales and wages on rise, survey says

Rising sales helped boost hiring and wages at US businesses in the second quarter, and companies are optimistic that the trends will continue this fall.

Netflix tops 50M subscribers as 2Q earnings soar

Netflix’s second-quarter earnings more than doubled as new episodes from one of its hit series helped the service surpass 50 million worldwide subscribers.

Ackman steps up Herbalife battle

Hedge fund manager Bill Ackman said he will hold a presentation Tuesday that will prove the nutrition company Herbalife is a fraud.

New Orleans putting smoked butts in a better place

The first of 50 cigarette butt recycling receptacles was installed at a downtown intersection Monday.

Beef pollutes more than pork, poultry, study says

Raising beef for the American dinner table does far more damage to the environment than producing pork, poultry, eggs or dairy products, a study says.

Statement by Arthur T. Demoulas

The statement was the first public response by Demoulas since his firing in June.

Reinstate fired Market Basket workers, Arthur T. Demoulas says

The statement was the first public response by Demoulas to the controversy surrounding the grocery chain.

Steven Syre

Market Basket dispute resonates beyond supermarket aisles

The sheer scale and energy behind the rally on Monday told you something real was happening.

Shirley Leung

Put an end to the Market Basket revolt

Employees at Market Basket are so busy protesting, they don’t have time to stock the shelves. Enough is enough.

False data put all of Bentley professor’s work under review

Bentley University accounting professor James Hunton’s “entire body of work” is in question.

Bentley professor James Hunton’s ‘entire body of work’ called into question after investigation

A Bentley University accounting professor’s “entire body of work” is in question, following the school’s investigation of two papers by James Hunton in which the data was found to have been falsified.

Boston’s first Uniqlo store opens

The Japanese brand, known for selling affordable basics, will debut in a space formerly occupied by Todd English’s Kingfish Hall.

Pickets, barren shelves greet shoppers at Market Basket

Protesting workers and some customers held signs and gathered signatures in support of Arthur T. Demoulas in Burlington.

CEO pleads guilty to mail and wire fraund

The chief executive of two penny-stock companies pleaded guilty today in US District Court on two counts of mail fraud and two counts of wire fraud for paying kickbacks in return for purchases of his companies’ stock.

At rally, Market Basket workers urged to take protests to stores

“You go back to your stores. Shut it down,” a rally organizer told a cheering crowd.

Boston a big test for self-driving cars

It could be a while before a self-driving vehicle can successfully navigate the treacherous streets of Boston.

Comparing doctors can be daunting, poll says

Americans consider insurance and a good bedside manner in choosing a doctor, but will that doctor provide high-quality care?

Research aims to help investors gauge risk

Natixis Global Asset Management will announce Monday that it is funding a $1 million research project at MIT.

Port of Boston said to add $4.6b to economy

Businesses operating in the Port of Boston generated $1.2 billion in revenues in 2012, according to a report.

Amid media mergers, small fry plot survival

Ever-larger conglomerates are leaving smaller cable television network groups more vulnerable as independent companies.

Energy labels at heart of legal fight

Government testing showed that scores of consumer products carrying the Energy Star label did not deserve the listing.