Uber wants ‘swift’ changes to Massachusetts background checks

The state has rejected more than 10,000 drivers who previously passed separate background checks by Uber and Lyft.

BOSTON, MA - 5/30/2014: The Boston Convention and Exhibition Center is the largest exhibition center in the Northeast United States, with some 516,000 square feet of contiguous exhibition space may be allowed to get BIGGER AERIAL (David L Ryan/Globe Staff Photo) SECTION: BUSINESS TOPIC

Shirley Leung

A real turf war is brewing in Southie

If you want to rile up Boston Mayor Marty Walsh, ask him about the expansion of the convention center in South Boston.

WASHINGTON, DC - MAY 04: House Speaker Paul Ryan (R-WI) (2nd-L) listens as U.S. President Donald Trump congratulates House Republicans after they passed legislation aimed at repealing and replacing ObamaCare, during an event in the Rose Garden at the White House, on May 4, 2017 in Washington, DC. The House bill would still need to be passed by the Senate before it could be signed into law. (Photo by Mark Wilson/Getty Images)

Study says GOP plan would be blow to Mass.

Massachusetts could see its uninsured rate jump above 10 percent if the sweeping health care bill approved by the US House becomes law.

Abigail Johnson, Fidelity Investments chairman, spoke at a New York tech conference Tuesday.

Abby loves bitcoin: Fidelity chief touts digital currency in first major speech

Abigail Johnson said digital currency has potential to greatly improve the process of financial transactions.

Latest Business headlines

Putnam unveils three ‘alternative’ mutual funds

It’s the latest move by the Boston-based investment firm to adapt to customers’ changing preferences.

Uber admits it underpaid tens of thousands of New York City drivers

The drivers will now collect an average of $900 each in reimbursements, which includes interest on the lost earnings.

Obama-era rule on financial advisers to go forward, for now

The Trump administration is allowing to go forward an Obama-era rule that puts stricter requirements on professionals who advise retirement savers on their investments.

Stocks claw back more lost ground with 4th straight gain

Stocks continued to recover the ground they lost last week. Major indexes approached record highs.

Wednesday’s business agenda

Panels, classes, and more notable events and things to know.

Sponsored by Rockland Trust Bank

Taking autism treatment above and beyond

The story of how one South Shore mom became a business owner and a life-changer.

This content was produced by Boston Globe Media in collaboration with the advertiser. The news and editorial departments of The Boston Globe had no role in its production or display.

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An afternoon recap of the day’s most important business news, delivered Monday through Friday.

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Special section | Game Changers

//c.o0bg.com/rf/image_90x90/Boston/2011-2020/2017/05/11/BostonGlobe.com/Business/Images/gamechangershoriz-6383.jpg 51 bright ideas and breakthroughs for 2017

In a revolutionary place like Boston, innovators and innovations are as common as bad drivers. See who made our annual list.

More Business headlines

A Target breach exposed many shoppers’ credit card data.

Target pays $18.5 million to settle 2013 data breach case

Massachusetts will receive $625,000 of the settlement.

A rendering of the proposed development at 89 Brighton Ave. in Allston.

Allston apartment development approved by ZBA

A contentious apartment development in Allston won the blessing of a key city board on Tuesday.

Home prices keep climbing as sellers stay on the sidelines

shortage of homes on the market continued to make life tough for would-be homebuyers in April, driving prices up and sales down across Massachusetts.

This undated photo provided by Biogen shows new signage in front of one of the biotechnology company's buildings in Cambridge, Mass. Biogen Idec Inc. is shortening its name to just Biogen as of Monday, March 23, 2015. (AP Photo/Biogen)

Biogen spinoff will pay $400m for Calif. drug developer

A hemophilia drug company spun off by Biogen Inc. said it will pay $400 million upfront to buy a California company.

Bain Capital raises $720 million for life-sciences fund

It will invest in companies that are working on cures for diseases.

Ford Motor Co. chief executive Mark Fields’ days may be numbered.

Ford replaces chief executive Mark Fields

Jim Hackett, who has been leading the automaker’s moves into self-driving cars and ride sharing, takes over.

A full version of the Trump administration’s proposed budget, containing extensive cuts to Medicaid, public health program, and medical research, was posted briefly on the Internet Monday before it was taken down.

STAT

Trump budget proposes huge cuts to Medicaid, public health, and biomedical research

That blueprint prompted harsh blowback from scientists and public health professionals alarmed by the potential long-lasting damage of such dramatic reductions in funding.

Asian shares drift as blast in Britain rattles investors

“The latest development in Manchester threatens to derail the positive lead for markets in the Asia-Pacific region,’’ said an analyst.

Michel Barnier, the European chief Brexit negotiator said Monday that “we need to settle the accounts, and that’s a question of trust between us to build our future relationship.”

EU approves tough Brexit talks stance, demanding UK pays

The European Union is refusing to discuss a future trading arrangement until there is agreement on other key topics.

The GE-Alstom wind farm off Block Island, R.I.

GE faces probe over suspicions it misled EU in $1.7 billion deal

General Electric Co. is the latest US company to be investigated by the European Union for possibly turning in misleading information during a merger review.

Citigroup agrees to $97.4m settlement in money laundering inquiry

Citigroup employees had, for years, suspected that millions of dollars that the bank was moving to Mexico might be suspicious.

The Beetle Cat, a sailboat that was first designed and built in 1921, is again ready for summer.

A New England classic approaches a century of sailing

The wooden Beetle Cat is little changed from its original design.

Ford ousts Fields as CEO and installs Hackett

The company vowed to catch up in the race to build self-driving cars and define a new era in personal mobility.

Bold Types

Boston Landing’s secret weapon

New Balance chairman Jim Davis had the vision to redevelop the 15 acres he acquired several years ago in this section of Brighton overlooking the Mass. Pike. But it’s Keith Craig’s job to turn that vision into a reality.

Tuesday’s business agenda

Classes, office hours, and more notable events and things to know.

Scott Solombrino, a spokesman for Ride Safe Massachusetts, said drivers with felony convictions should not be alone with riders.

New ride-hailing rules under criticism

Business groups and social justice advocates say new background checks overreach by disqualifying too many drivers with minor offenses.

UMass Memorial Medical Center revises plans to cut psychiatric beds

Mental health advocates still oppose the Worcester hospital’s plan to close 13 beds.

MBTA app maker sued in San Francisco

Elerts Corp. of Weymouth, which makes a “see something, say something” security app for riders of MBTA buses and trains.

Cambridge-9/7/2010- Genzyme's Kendall Square location. Boston Globe staff photo by John Tlumacki (business) kendallsquare100

FDA approves Sanofi Genzyme rheumatoid arthritis drug

It’s the company’s second medicine to be OK’d this year.

Stocks bounce back as technology and defense companies climb

Strong gains for technology companies like software and chip makers helped lead stocks higher Monday.

** FILE ** The exterior of the Malden Mills factory in Lawrence, Mass. is shown in this Nov. 29, 2001, file photo. The firm seeking bankruptcy court approval to buy Malden Mills Industries Inc. plans to operate the century-old textile maker under the Polartec name, a brand better known than the maker of high-tech fabric for customers including Patagonia and the U.S. military. Polartec LLC will be the name of the privately held company after its expected emergence from Chapter 11 reorganization, expected to occur around March 5, Greg Segall, managing partner of Chrysalis Capital Partners, said Friday, Feb. 23, 2007. (AP Photo/Elise Amendola, File)

Former Polartec plant auctioned for $5.35 million

California real estate investors say they want to turn the nearly 600,000 square foot complex into an industrial innovation hub.

Gerald Chan, a billionaire real estate investor with holdings in Hong Kong, mainland China, and in Cambridge, has purchased a third property in Savin Hill.

Chan buys yet another property in Savin Hill

Billionaire investor Gerald Chan scooped up another slice of Savin Hill Monday, closing on a deal to buy a 4.7-acre site steps from the Red Line station.

Nirmal “Narv” Narvekar.

Harvard endowment chief was paid $3.1 million while at Columbia

Nirmal “Narv” Narvekar will likely earn even more at Harvard.

Berkshire Bank announced Monday that it plans to buy Worcester-based Commerce Bank and move its headquarters from Pittsfield to Boston.

Mass.’ new biggest bank: Berkshire Bank

Berkshire Bank just leapfrogged from a sleepy western Mass. regional financial institution to the biggest bank based in the state.

Mass. teachers union pushes state pension fund to divest

The Massachusetts teachers union has endorsed a bill in the state Legislature aimed at curbing investments in companies that contribute to climate change.

Apple Pay violates Boston company’s patents, suit alleges

The lawsuit, filed by Universal Secure Registry in US District Court in Delaware, says its chief executive, Kenneth P. Weiss, received 13 patents for authentication systems

“We certainly would not expect our riders to fund a bailout of this size,” said Brian Shortsleeve (above), the MBTA’s acting general manager

MBTA pension fund needs $1 billion, report says

Benefits paid to retirees over the past 10 years have exceeded money coming in from the transit authority and worker contributions.

Sodium bicarbonate solution, more commonly known as baking soda, is a critical component of cardiac surgeries.

A vital drug runs low in hospitals nationwide: baking soda

Sodium bicarbonate solution is used in open-heart surgery and in some types of chemotherapy.

Billy Exavier sat in a math class at Charlestown Adult Education, where he is taking classes to get his GED. Exavier, a security guard, hopes to become a police officer.

Young men falling to the bottom of the income ladder

Despite the fact that men aged 25 to 34 are better educated than they were four decades ago, their median income has fallen.

JPMorgan chief executive Jamie Dimon will announce the grants.

Teen job programs get $17 million boost

The Boston Private Industry Council is one of 19 programs nationwide getting money from JPMorgan Chase.

Uber driver Dean Johnson waited for a customer outside South Station last year.

Insurers pitch extra coverage for Uber and Lyft drivers

Insurance companies know many drivers work for Uber and Lyft on the down-low.

A developer wants to build 2,100 high-end apartments on the 28-acre site and use the proceeds to create 1,100 new homes for the poor.

In Charlestown, a clash over a public housing project

Officials are facing stiff pushback against their experimental approach to redevelop one of the city’s biggest public housing projects.

During Trump’s visit, GE announces $15 billion worth of agreements with Saudi Arabia

General Electric has announced it has reached a raft of agreements with Saudi Arabia valued at $15 billion.

Total Wine & More has four outlets in Massachusetts, including one in Everett. Many of its outlets approach 50,000 square feet, or more than the average supermarket.

For Total Wine, it’s total war against alcohol regulations

The sharp-elbowed chain’s next battle: convincing state legislators to allow coupons at package stores.

US stocks close broadly higher; oil rises

Industrial companies led US stocks higher Friday, giving the stock market its second gain in two days.

King Street Properties is working on a $200 million biomedical complex in Cambridge that doesn’t yet have tenants. Developers Tyson Reynoso (above left) and Stephen Lynch looked out over the work.

Tight life sciences lab market spurs speculative building in area

Several complexes are being built “on spec,” meaning developers didn’t sign up tenants before breaking ground.

A staffer monitored the spread of ransomware cyber attacks at the Korea Internet and Security Agency (KISA) in Seoul.

WannaCry fades, but worries remain

A week after it struck, the WannaCry ransomware attack appears to have been a financial bust for the hackers.

Kimberly Doheny, lab director at the Center for Inherited Disease Research at Johns Hopkins University, holds an example of a slide used for testing DNA , Friday, March 21, 2008, in Baltimore. The DNA scanners used in the lab, blue boxes each about twice as big as a desktop printer, will reveal what DNA

stat

FDA action on Vertex drug based on lab tests

Experts say the decision is unlikely to signal a loosening of standards at the drug regulator.

Though it’s hard for employees at a company going through a restructuring to focus, staying committed to work is vital.

Job Doc

Facing reorganization? Don’t give employees false hope

As a manager, telling people they have nothing to worry about is not the conversation you want to have.

Dehydration can zap energy. To compensate, drink regularly during the day.

Consumer Reports

Be more awake by day, sleep better at night

Timed right, small changes in your routine can give you a lift during the day and improve your sleep.

One awful day ruins week for S&P 500 as Trump drama gets serious

Financial markets ended a volatile week with a final bout of turbulence as Donald Trump’s troubles increased Friday.

Tech Lab by Hiawatha Bray

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Bray writes about technology for the Business section. His Tech Lab column appears on Thursdays.

Shirley Leung

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Leung writes a business column every Wednesday and Friday. Previously she served six years as the business editor overseeing daily and Sunday coverage.