Latest business headlines

The latest business news from the region and nation.

US and China work on ZTE rescue; Mnuchin denies quid pro quo

President Trump said Tuesday that the deal might require ZTE to revamp its board and to pay a fine of $1 billion or more.

Congress moves to end key post-crisis bank rules

The House voted 258-159 to approve legislation rolling back the Dodd-Frank law, notching a legislative win for President Trump.

Mass. pension fund enjoyed highest return from private equity investments of any in country

When it comes to private equity, at least, the state’s pension fund can brag again about being No. 1.

Shirley Leung

In the mess at UMass Boston, it’s hard to know whom to blame more

No one is a winner in the disarray at UMass Boston, and how to move forward isn’t evident.

City Council won’t vote yet on short-term rental rules

Councilors will probably spend at least two more weeks hammering out rules governing short-term rentals in Boston.

Stocks slip as smaller companies and industrials fade

Stocks finished the day mostly lower as industrial companies and retailers fell.

Workbar, poised for more growth, has a new CEO

The Boston-based co-working company has tapped industry vet Sarah Travers to take over from cofounder Bill Jacobson.

There’s no sign of a slowdown in Massachusetts home prices

With demand outstripping supply, the latest data suggest a record hot summer for real estate.

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Six local biomed researchers awarded $8 million apiece, with no strings attached

They’re among 19 nationwide to share unrestricted funding from the Howard Hughes Medical Institute.

Environmental group objects to zoning that allows waterfront towers

Conservation Law Foundation says state is giving away too much to developers.

Fidelity sues Omni hotel developers over use of ‘Seaport Hotel’ name

Fidelity says the name of a new hotel in the Seaport District conflicts with one it has owned nearby for 20 years.

The ‘King of the Commode’ seeks an heir to his thrones

“This is my life’s history here,” said Barney Smith, a retired plumber and owner of the 1,350 toliet seats in his Toilet Seat Art Museum.

Evan Horowitz | Quick Study

Gas and mortgages are getting expensive again. Welcome to a normal economy

Gas at $3 a gallon. Mortgage rates nearing 5 percent. It’s starting to look a lot like America before the financial crisis.

McDonald’s workers in 9 cities file sex harassment claims

Two national advocacy groups are teaming up to lodge the complaints against the fast food giant.

China will cut auto import taxes as of July 1

The immediate impact of the change was expected to be limited, as most cars sold in China by global automakers are produced domestically.

Mnuchin urges antitrust probe of tech after Google report

Treasury Secretary Steven Mnuchin is urging an antitrust probe of the tech industry.

McDonald’s workers block HQ, chant ‘We can see your greedy side’

About 150 cooks and cashiers blocked the entrance to the corporate headquarters in Chicago on Monday, protesting what they call unfairly low pay.

Former Uber engineer’s lawsuit claims sexual harassment

As Uber works to remake its tarnished image, the company is still dealing with the fallout from its past misdeeds.

Despite rising jet fuel costs, air fares steady

The airline industry has been so competitive that carriers haven’t been able to pass on much of the cost to consumers.

Partnership based at BU gets $50m to help fight drug-resistant superbugs

Infections from drug-resistant superbugs cause around 700,000 deaths worldwide each year, including an estimated 23,000 in the United States.


Retired SJC justice Bob Cordy is still busy writing his next chapter

Cordy has continued his work in helping to reform Uzbekistan’s legal system.

Supreme Court says employers can bar worker class actions

A split decision potentially limits the rights of tens of millions of employees with legal claims against companies.

Hopes for better US-China trade relations lift stocks

Industrial and technology companies led stocks to solid gains Monday after the US and China appeared to make progress in trade talks.

GE will merge its locomotive business with Wabtecin an $11.1b deal

Boston-based General Electric stock rose the most in a month as its CEO took the biggest step yet in his plan to revitalize the beleaguered manufacturer.

Business agenda

A panel on fraud protection, a breakfast for IT professionals, and other events and things to know.

Three new bidders are sweet on acquiring Necco

The bankrupt Revere candy company is scheduled to be auctioned off Wednesday.

City Council divided on Walsh’s proposed rules to restrict Airbnb-type short-term rentals

Several councilors questioned the purpose of regulations that would all but ban by-the-night rentals of homes by non-owner-occupants through popular websites such as Airbnb.

Barack and Michelle Obama sign on with Netflix

Netflix says that it has reached a deal with Barack and Michelle Obama to produce material for the streaming service.


After nerve-racking eye surgery, the world comes into focus for an early recipient of gene therapy

Jack Hogan, 13, was the first person to get an $850,000 therapy called Luxturna, in an attempt to improve his sight.

Treasury secretary says US and China are putting trade war on hold

The gesture will temporarily ease tensions, but rapidly increase pressure on President Trump to secure the type of tough deal he has said is necessary.


Boston Dynamics will sell its terrifying robot dogs. What could go wrong?

Our reactions to Boston Dynamics’ latest four-legged machines might say more about us than about cutting-edge robots.

Somerville company offers free tuition at UMass Boston

Like many bosses around here, Triumvirate Environmental CEO John McQuillan is finding it increasingly tough to find the talent he needs.

GE is said to be in talks to merge its transportation business with another company

Boston-based General Electric is reported to be moving toward a merger of its transportation unit with another transportation company.

Treasury secretary says US and China are putting trade war on hold

The gesture will temporarily ease tensions, but rapidly increase pressure on President Trump to secure the type of tough deal he has said is necessary.

Scientists in Mass. and beyond are working to slow the aging process

Serious scientists, who’ve long scoffed at “anti-aging” products such as nutritional supplements and growth hormones, are now warming to the idea of slowing human aging.

New Starbucks policy: No purchase needed to sit in cafes

Starbucks announced a new policy Saturday that allows anyone to sit in its cafes or use its restrooms, even if they don’t buy anything.

Missouri lawmakers approve measure regulating fake meat

Missouri lawmakers have approved legislation that bans companies from labeling lab-grown meat products or meat substitutes as meat.


His business is like time sharing for airplanes

George Antoniadis’s PlaneSense has access to more than 4,000 US airports.

Former Wilmington Trust executives seek acquittal after fraud convictions

Attorneys for the four argue in court papers filed Wednesday that the prosecution evidence wasn’t strong enough to support a jury’s guilty verdict on May 3.

Cambridge Analytica files US bankruptcy after data scandal

Cambridge Analytica, overwhelmed by a scandal over how it harvested data from Facebook to influence the last U.S. election, filed for bankruptcy in New York.

Opportunity knocks for cities, but is there a hidden cost?

The federal government’s new Opportunity Zones program is aimed at spurring development in low-income areas, but some question who stands to benefit.

Owner seeks extra charge to keep Mystic power plant running

ISO New England has asked Exelon to keep the fires burning beyond a projected closure date in mid-2022.

Top Places to Work deadline extended

Nominate your company for the Boston Globe’s annual rankings of the state’s best workplaces.

Five things you should know about Christina Severin

Severin runs a Boston-based company that’s embarking on an experiment in Mass. health care.


Millennials get plenty of financial advice — but most of it is wrong

Unlike past generations, young adults have unprecedented financial pressure.


It’s kind of amazing that Biogen is here for its 40th anniversary

The Cambridge biotech has survived — and mostly prospered — in an industry where companies frequently come and go.

A monthly shot could help do away with your chronic migraines

A new drug, injected monthly just under the skin using a penlike device, could be welcome news for the 10 million Americans who get frequent migraines.

Judge denies CBS restraining order against major shareholder

A Delaware judge refused Thursday to grant CBS Corp. a restraining order against its majority shareholder in a power struggle that could decide control of the company.

Developer wins approval for its Winthrop Square tower

But Millennium’s skyscraper still needs the blessing of the Massachusetts Historical Commission and another round of zoning approval from the city.