fb-pixel Skip to main content

Suffolk University gets $3m donation to fund tech apprenticeships

Barry Chin


Suffolk University gets $3m donation to fund tech apprenticeships

Suffolk University has received a $3 million gift to support student apprenticeship programs in technology and similar sectors from former Bank of America chief executive Richard Rosenberg and his wife Barbara. The donation will endow what will be called the Rosenberg Student Training Employment Program, which will support internships and mentoring opportunities involving information technology roles and other science, math, and engineering careers. Richard Rosenberg earned a bachelor’s degree from Suffolk in 1952 and an honorary degree in 1991. The Rosenbergs have endowed several institutes at universities around the country, including one for East Asian studies that was formed in 2007 at Suffolk. — JON CHESTO



CarGurus gets a new board member

Online auto marketplace CarGurus Inc. has recruited former top PillPack executive Yvonne Hao to join the Cambridge firm’s board of directors. Hao has been managing director of private equity firm Cove Hill Partners since July 2019. Before that, she was the chief operating officer and chief financial officer of PillPack, a Somerville-based pharmacy startup. Hao was instrumental in engineering that company’s sale to Amazon in 2018 and its subsequent integration. Hao previously worked for private equity firm Bain Capital for nearly nine years before joining PillPack at the start of 2017. Hao fills a seat on the CarGurus board that was occupied by Anastasios Parafestas, who stepped down from the board on Tuesday after 15-plus years. — JON CHESTO


Former state official to take over The Lawrence Partnership

A former state economic development official is taking over as executive director of The Lawrence Partnership, an organization that supports businesses and economic development in the city of Lawrence. George Ramirez, a lawyer who previously was executive vice president at the quasi-public MassDevelopment and earlier a top housing and economic development aide in the Patrick administration, is replacing longtime leader Derek Mitchell at the Partnership. Mitchell is leaving the Partnership later this month to become president of LEADS, an organization that provides executive leadership training in Lawrence, Haverhill, and Lowell. — JON CHESTO



Toshiba allegedly used government allies to sway shareholders

Japan’s powerful trade ministry, the former head of investment at its giant pension fund, and even the current prime minister. Those are the actors portrayed in a detailed description of how Toshiba allegedly tapped government allies to try to influence voting at its annual general meeting last year. Management at the more than 145-year-old manufacturer worked hand in hand with public officials in an attempt to sway the outcome, according to a 139-page report by three independent investigators elected by Toshiba stock holders to examine the issue. — BLOOMBERG NEWS


Home building up in May, despite pricey lumber

US home construction rose 3.6 percent in May as builders battled a surge in lumber prices that have made homes more expensive. The May increase left construction at a seasonally adjusted annual rate of 1.57 million units, the Commerce Department reported Wednesday. Applications for building permits, looked to for indications of activity ahead, fell 3 percent in May to a seasonally adjusted annual rate of 1.68 million units. — ASSOCIATED PRESS


Google to open retail store in NYC

Google will open its first retail store in New York City, highlighting the internet giant’s effort to promote its consumer hardware devices. The store, in Manhattan’s trendy Chelsea neighborhood, will open to the public Thursday, the Mountain View, Calif.-based company said Wednesday in a blog post. The shop, which is a block away from rival Apple’s 14th Street store, occupies part of the first floor of Google’s New York offices. Google began experimenting with pop-up stores in 2016, the same year it debuted its Pixel smartphone and Nest smart home speaker. — BLOOMBERG NEWS



Ford to keep gas-powered Lincolns in its lineup

Ford Motor Co.’s Lincoln luxury line is accelerating its electric vehicle strategy and plans to offer plug-ins throughout its lineup by 2030 — but the automaker is also hedging its bets by keeping gas-burners in the showroom. Lincoln will introduce its first all-electric model next year. By 2026, it expects half of its global volume to be gas-electric hybrids and vehicles that run only on batteries, with the selection ramping up from there. The remainder will be gasoline-only vehicles. The strategy contrasts with the all-electric strategy General Motors Co.’s Cadillac laid out this year. Lincoln says it will give customers what they want. — BLOOMBERG NEWS


Giant diamond found in Botswana

Debswana Diamond Co., a unit of De Beers, unearthed a 1,098-carat stone in Botswana on June 1, the largest since the company began operations five decades ago. The stone was discovered at Jwaneng, the world’s richest mine by value, which is undergoing a $2 billion expansion. “Debswana will work with the government of the Republic of Botswana and De Beers to value and sell the diamond to ensure it returns maximum benefit for the people of Botswana,” the company’s spokeswoman, Rachel Mothibatsela, said. Debswana is a 50/50 partnership between Botswana and De Beers to mine the gems in the southwestern African nation. Last year, the company produced 16.6 million carats, compared with 23.3 million carats in 2019. — BLOOMBERG NEWS



Chicken prices soar as fast-food outlets launch more fried sandwiches

US producer prices for processed poultry jumped to an all-time high in May, climbing 2.1 percent in the eighth straight monthly increase, US government data showed Tuesday. The surge comes after several large fast-food restaurant chains recently launched fried-chicken sandwiches in a bid to match Popeyes’ 2019 viral success. Sales have also surged with consumers preparing more meals at home during the pandemic. Meanwhile, poultry producers have struggled to keep up with the growing demand, with labor shortages at meat plants and severe winter storms that killed thousands of birds constricting chicken supplies. — BLOOMBERG NEWS


Heineken managers’ pay and bonuses could hinge on green efforts

Salaries and bonuses paid to Heineken managers may soon depend on how committed they are to fighting climate change as the world’s second-largest brewer searches for ways to meet its 2040 net-zero emissions goal. Companies are increasingly under pressure from board members, investors, and customers to prove they’re taking meaningful steps to lessen their impact on the planet. Experts say linking executive pay is a key step to incentivize corporate management to meet climate goals. About 90 percent of Heineken’s emissions come from suppliers, packaging, and the logistics of storing and transporting its beer. The remainder is generated when producing the beverage. — BLOOMBERG NEWS