Latest business headlines

The latest business news from the region and nation.

Logan fends off long security lines

In Boston, things are going so smoothly that the TSA redeployed Logan’s security director to work with a new management team in Chicago.

Key players in the Redstone lawsuit

The dismissal of a recent lawsuit in Los Angeles set off a flurry of changes to his trust.

Shirley Leung

Sumner Redstone lawsuit may be this summer’s best beach read

The lawsuit is more than the latest twist in a family soap opera and its outcome may shape the future of Viacom and CBS.

Snapchat raises $1.8 billion from private investors

Most startups raise money by putting together a group of investors who buy a specified amount of stock at a particular time; Snapchat collected the capital over more than a year.

Gawker Media is said to be exploring a possible sale

Mired in an ongoing legal battle with Hulk Hogan, Gawker Media has hired an investment banker to help it weigh such options as a sale.

In Government Center, a nifty development trick

How do you turn a hulking garage above one of Boston’s busiest streets into a glittering garden of towers without closing the facility?

Wall Street’s BBQ weekend put on hold as Yellen takes the stage

The Friday before Memorial Day weekend is typically dead on Wall Street. The bond market shuts early and trading in stocks slows to a trickle as everyone hightails it out of town.

Oil above $50 a barrel as summer driving season kicks off

With global oil prices grinding higher, gasoline prices are also drifting up as Memorial Day approaches.

Takata taps financial adviser as recall costs mount

Faced with mounting costs from a global recall of air bags, Japanese supplier Takata Corp. has hired the advisory firm Lazard.

Arbella shrinks homeowners-only policies

Arbella Insurance Group is shedding a large chunk of its homeowners-only policies as it focuses on customers who buy multiple insurance products and are likely to be more loyal.


FDA OKs implant to treat opioid addiction

There’s a new tool available to help combat the opioid crisis.

Google prevails as jury rebuffs Oracle in code copyright case

Google’s long-running legal dispute with Oracle was over software used to power most of the world’s smartphones.

Budget cut costs state’s clearinghouse for health care market data

The deal reached to avoid a controversial ballot question to regulate hospital payments will force deep budget cuts at a young state agency.

Friday’s business agenda

Machine learning for marketers, Kendall Square Convergence, and more notable things to know.

Beth Israel Deaconess in Boston names Healy president

The appointment of Peter Healy is designed to give the health system’s chief executive, Kevin Tabb, more time to focus on strategy.

Court to decide on restraining order for striking Verizon workers

The restraining order would keep the workers from picketing motels housing their replacements.

SEC files fraud charges in alleged medical marijuana scheme

Christopher Esposito raised more than $550,000 from investors and allegedly used the majority of the funds for unauthorized personal expenses.

Massive office complex could blossom at Flower Exchange site

The new owners want to build a “dynamic corporate campus” that could employ 5,000 to 10,000 people.

How would you design a new Northern Avenue Bridge?

Entries in the contest to inspire a new bridge over the Fort Point Channel ranged from simple to grandiose.

Big ideas (and lots of them) for the Northern Avenue Bridge

The city received 133 entries in a citywide contest, with images ranging from hand-drawn pictures to sophisticated computerized renderings.

TSA chief: Help is on the way to address long airport lines

The Transportation Security Administration will add 768 new screeners by mid-June to deal with long security lines.

Puerto Rico clears first hurdle with committee vote

A bipartisan deal to help Puerto Rico manage its crippling finances cleared its first hurdle Wednesday.


Brigham president, criticized for work with NFL, defends neutrality

Dr. Elizabeth Nabel told STAT she “had no intention of influencing” the National Institutes of Health’s grant selection process.


In search of ‘a more inclusive business climate’

Colette Phillips still sees mostly white faces when she looks around the city’s corporate leadership. She has made it her mission to change that.

Citigroup fined for role in rigging interest rates

Citigroup became the latest big bank accused of trying to manipulate global interest rates.

Microsoft Cutting 1,850 Jobs in Smartphone Unit

About 25,000 workers joined Microsoft as a result of the company’s acquisition of Nokia’s handset business, but Microsoft quickly felt pressure to cut costs as phone sales struggled.

In Austin, a display of ride-hailing Wild West

Boston-based Fasten and others are rushing to the Texas city to fill the void left by the departures of Uber and Lyft.

Thursday’s business agenda

US mortgage rates, intro to Web design, and more notable things to know.

scott kirsner | Innovation economy

Testing your knowledge on 400 years of Mass. innovation

How much do you know about the state’s long history of breakthroughs?

Starbucks seeks to appeal city’s rejection of license for Southie shop

Starbucks has asked the city’s licensing board to reconsider its denial of a permit needed to operate a proposed store in South Boston.

Kendall Squared | Stat

Kendall’s pharma firms try to be conscientious neighbors

Many of the world’s largest drug makers say they’re mindful of the effect their arrivals are having on rent and available space.

Deal reached to avert ballot question on hospitals

The agreement will establish a panel to study health care prices and increase funding for community hospitals.

Hiawatha Bray | tech lab

Is digital justice colorblind?

Problems may arise when we let statistics and computer algorithms do our thinking for us.

Tootsie Roll maker fined after worker loses a finger tip

The Cambridge candy factory must pay $46,000 after a worker’s fingertip was severed by a candy-wrapping machine.

Companies can report data breaches electronically

Before now, companies have been sending the state a letter when they experience an electronic breach.

iRobot activist shareholder fails to win board seats

Red Mountain Capital had pressed for changes but lost an attempt to put two of its representatives on the board.

Sarepta’s stock soars after FDA postpones vote

Investors saw the delay as a sign the Food and Drug Administration might approve the company’s drug to treat Duchenne muscular dystrophy.

Greece gets new funds approved by eurozone creditors

The deal will deliver $11.5 billion in funds to see Athens through the next months.

Americans have disparate access to retirement plans

Those who want to retire may face very unequal paths to get there depending on where they live.


What you might have missed Tuesday from the world of business

Selecta Biosciences files for IPO, Toyota expands recall over air bags, and more.

Shirley Leung

It took 108 years, but the Harvard Club of Boston has its first female president

The mahogany is still there, and so are the bow ties, but try not to call it an old boys’ club anymore.

Facebook drops news outlet input in ‘trending topics’ review

The action comes after a backlash over a report saying that the social network suppressed conservative views.

Sumner Redstone confirms new members for family trust

“This is my trust and my decision,” the 92-year-old Redstone said in a statement, issued through a spokesman.

NLRB accuses Verizon strikers of harassment

The federal board accuses the International Brotherhood of Electrical Workers of unfair labor tactics during the strike.

Captain America or Iron Man — who will you be in the workplace?

The movers and shakers of the world are often either Steve Rogers or Tony Stark.

If you’re a teen searching for a summer job, well, good luck

By most measures, the Mass. labor market is at full employment. But teenagers have been left out of the economic turnaround.

Fidelity rolls out a free virtual safe deposit box

The Boston fund giant is offering a “digital vault” to secure copies of all your important papers.

At looooong last, CVS makes paper receipts optional

If you’re one of those people who hates absurdly long CVS receipts, your day has finally arrived.

Banks step up efforts to collect on taxi medallion loans

The financial reckoning of the ride-hailing revolution has arrived for smaller medallion owners in Boston and Cambridge.

Wednesday’s business agenda

Techstars demo day, the future of automobiles, and more notable things to know.