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Leader of MassDevelopment leaving

MassDevelopment President and CEO Lauren Liss
MassDevelopment President and CEO Lauren LissCraig F. Walker/Globe Staff/The Boston Globe


Leader of MassDevelopment leaving

The head of MassDevelopment, one of the state’s quasipublic economic development agencies, is stepping down at the end of the year. MassDevelopment on Monday announced the departure of chief executive Lauren Liss after three years in the job. Mike Kennealy, Governor Charlie Baker’s housing and economic development secretary and chairman of the MassDevelopment board, will lead the search for a new CEO for the agency, whose full legal name is the Massachusetts Development Finance Agency. — JON CHESTO


Hasbro stock tumbles

Hasbro stock fell more than 9 percent after reporting third-quarter sales that disappointed investors in contrast with rival Mattel Inc.'s results last week. Hasbro, the largest US toymaker, said Monday that revenue fell 4 percent on a pro forma basis to $1.78 billion. While both companies have said parents are flocking to familiar products to entertain kids stuck at home during the pandemic, Hasbro relies more than Mattel on the kind of movie tie-in toys that have been absent with major film releases delayed. Hasbro said revenue in that segment, which it calls partner brands, fell 4 percent. Hasbro didn’t provide detailed commentary on fourth-quarter or full-year trends, saying only that it expects a “good holiday season.” Mattel specifically forecast higher fourth-quarter sales. — BLOOMBERG NEWS



Uber accused in lawsuit of firing minority drivers cased on biased customer ratings

Uber was accused in a lawsuit of violating the Civil Rights Act by firing minority drivers based on how they’re rated by customers. “Uber is aware that passengers are prone to discriminate in their evaluation of drivers, but Uber has continued to use this system, thus making it liable for intentional race discrimination,” former driver Thomas Liu said in his complaint, filed Monday in San Francisco federal court on behalf of a proposed nationwide class of non-white drivers. Liu first brought that claim four years ago to the US Equal Employment Opportunity Commission, which did not reach a conclusion about the allegations but in August authorized him to pursue them in court. Uber spokesperson Matt Kallman called the lawsuit “flimsy” and said in an e-mailed statement that ride-hailing “has greatly reduced bias for both drivers and riders, who now have fairer, more equitable access to work and transportation than ever before.” — BLOOMBERG NEWS



P&G’s new cleaning product arrived just in time

Microban 24 wasn’t expected to be a major product before Procter & Gamble Co. introduced it in February. Then came COVID-19. The sanitizing spray — P&G’s answer to Lysol and Clorox — is in demand with the coronavirus pandemic causing a rush for household cleaning supplies. On Monday, Microban got perhaps its biggest vote of confidence yet, as the packaged-goods giant said the spray was approved by the US Environmental Protection Agency as effective in killing the virus that causes COVID-19. — BLOOMBERG NEWS


Apple planning two new AirPods models in 2021

Apple is planning updates to its AirPods earbuds next year, seeking to capitalize on the success of a product that has become an important source of growth. Apple is working on two new models: third-generation entry-level AirPods and the second version of the AirPods Pro earbuds, according to people familiar with the plans. The design of the updated entry-level AirPods will be similar to the current AirPods Pro, gaining a shorter stem and replaceable ear tips. Apple is also looking to improve battery life. That model however will not have higher-end AirPods Pro features like noise-cancellation, said the people, who asked not to be identified discussing private matters. For the new AirPods Pro, Apple is aiming to make the earbuds more compact by eliminating the short stem that currently sticks out from the bottom. — BLOOMBERG NEWS



Blackstone to buy Simply Self Storage for about $1.2 billion

Blackstone Group Inc. agreed to buy Simply Self Storage from a Brookfield Asset Management Inc. fund for about $1.2 billion, raising its bets on a sector that has stayed resilient during the pandemic. Simply Self Storage, which owns 8 million square feet of space across the United States, will be purchased by Blackstone Real Estate Income Trust Inc., according to a statement Monday. Blackstone already owns a $300 million portfolio of self-storage facilities, and the deal would make it the country’s third-largest owner of storage not listed on a stock exchange. — BLOOMBERG NEWS


Fiat Chrysler, Peugeot merger to win European Commission approval

Fiat Chrysler and PSA Group, the maker of Peugeot, are headed for European Union antitrust approval for their plans to create the world’s fourth-biggest carmaker, according to people familiar with the deal. Concessions offered by PSA to allay EU concerns about the deal received positive feedback from rivals and customers and won’t require changes, the people said on condition of anonymity because the merger approval process isn’t public. That means the European Commission will approve the deal before a Feb. 2 deadline, the people said. — BLOOMBERG NEWS


Bank of America invests in three more minority lenders

Bank of America Corp. made three more investments in minority-focused lenders, bringing its total to 10 in the past two months. The bank took equity stakes of almost 5 percent in Carver Bancorp Inc., Carver Financial Corp., and CNB Bancorp Inc., the parent of Commonwealth National Bank, according to a statement Monday. The investments are part of a broader $50 million earmarked for minority depository institutions and community development financial institution banks. Bank of America has pledged $1 billion over four years to advance racial equality, of which $300 million has already been allocated. — BLOOMBERG NEWS



Deadline extended for claiming stimulus payments

Parents who have yet to receive the $500 stimulus payments for each child as part of the coronavirus stimulus package passed in March now have until Nov. 21 to claim the money, the Internal Revenue Service said. The new guideline gives parents until 3 p.m. Eastern Standard Time on Nov. 21 to claim the payment using a tool for people who don’t file income taxes. The IRS previously said that recipients needed to claim their payments by Sept. 30. Individuals can also claim any outstanding payments related to the economic aid package by filing a tax return next year and claiming the benefit. The IRS said it is still working to distribute the $1,200 stimulus payments for low and middle-income adults, and the $500 for children that Congress included in the March coronavirus relief bill. The agency said it has struggled to locate individuals that aren’t required to file tax returns or aren’t connected to another federal benefit program, such as Social Security. — BLOOMBERG NEWS