fb-pixel Skip to main content

Lawyers deny claims by Fish in suit linked to abandoned venture

John Fish, CEO of Suffolk Construction
John Fish, CEO of Suffolk ConstructionDavid L. Ryan/Globe Staff


Lawyers deny claims by Fish in suit linked to abandoned venture

Goulston & Storrs responded Thursday to the lawsuit filed in March by construction magnate John Fish, filing a point-by-point denial of malpractice and conflict of interest allegations involving the firm’s work for a joint venture between Fish and developer Steve Weiner that sought to build a Back Bay condo tower. The Boston law firm rejected Fish’s claim that it worked behind his back to further Weiner’s interest even as it billed Fish for millions of dollars for legal services. Goulston also denied failing to disclose that one of its attorneys, Alan Rottenberg, held a subparticipation interest in Weiner Ventures through a trust. Fish claimed that Rottenberg, a longtime Weiner lawyer, had a larger financial stake in the entity than Weiner himself. Fish has separately sued Weiner for backing out of the project. — LARRY EDELMAN



Disney moves Beatles documentary from theaters to streaming service

Walt Disney Co. is moving its highly anticipated documentary about the Beatles from theaters to its streaming service, in the latest sign Hollywood is still unsure if consumers are willing to come back to cinemas in large numbers. “The Beatles: Get Back,” a behind-the-scenes peek at the band in its prime, had been scheduled to hit theaters in August. It now will appear as a three-part series on the company’s $8-a-month Disney+ streaming service at no additional charge, the company said Thursday. It was originally scheduled to come out in theaters last year. The picture was created by “Lord of the Rings” director Peter Jackson, based on outtakes from an earlier documentary, 1970′s “Let It Be.” Theaters have had a tough time, with the pandemic scaring fans away from indoor, group experiences. Last weekend, “A Quiet Place Part II,” the horror film in its third week, outgrossed the newly released musical “In the Heights,” a sign that older audiences in particular may be reluctant to return. — BLOOMBERG NEWS



Victoria’s Secret board to be nearly all female

L Brands proposed a woman-majority board for Victoria’s Secret as a standalone company and said the plan to separate the lingerie company from Bath & Body Works remains on track for August. Donna James, managing director at Lardon & Associates, will be the chair of the stand alone company once Bath & Body Works is separated from the company. Six of seven of the board members are women, part the lingerie chain’s effort to respond to what female customers want out of the brand. Martin Waters, the chief executive officer of Victoria’s Secret, was the only man named to the board. The other board members are all independent of the company. — BLOOMBERG NEWS


Supreme Court sides with Nestle and Cargill in suit over child labor

The Supreme Court on Thursday sided with food giants Nestle and Cargill in a lawsuit that claimed they knowingly bought cocoa beans from farms in Africa that used child slave labor. The justices ruled 8-1 in favor of the food companies and against a group of six adult citizens of Mali that claimed they were taken from their country as children and forced to work on cocoa farms in neighboring Ivory Coast. The justices said an appeals court was wrong to let the group’s lawsuit go forward. “Although respondents’ injuries occurred entirely overseas, the Ninth Circuit held that respondents could sue in federal court because the defendant corporations allegedly made ‘major operational decisions’ in the United States. The Ninth Circuit erred by allowing this suit to proceed,” Justice Clarence Thomas wrote in a majority opinion for the court. — ASSOCIATED PRESS



Detroit gets its first new car plant in more than 30 years

The new Jeep is part of a years-long effort under successive owners to expand the coveted, profitable marque. And to produce the elongated Grand Cherokee L, Stellantis invested $1.6 billion to build a gleaming new assembly plant at an existing site in east Detroit. More than half the factory’s nearly 5,000 workers live in the city, which hasn’t had a new auto assembly plant in more than 30 years. — BLOOMBERG NEWS


Corporations not offering enough products to appeal to Black customers

There could be $300 billion in annual US spending up for grabs by the Black community because corporate America still isn’t creating enough products that appeal to them. Black Americans are more unhappy with offerings in categories ranging from personal care to financial services and housing than the overall population, according to a report released Thursday by McKinsey and Co. That means Black shoppers are ripe to be poached by other brands and willing to pay as much as 20 percent more for an item that caters to them. — BLOOMBERG NEWS


Makers of Scotch pleased with tariff suspension

Scotch whisky makers breathed a sigh of relief Thursday after the United States agreed to suspend tariffs on one of Scotland’s main exports following the resolution of a long-standing trade row between the United States and the EU over subsidies to aircraft companies Boeing and Airbus. Former president Donald Trump slapped a 25 percent tariff on single malt Scotch whisky in 2019 as part of the trade dispute over aerospace subsidies. While the UK no longer is an EU member, it belonged to the bloc when the tariffs were imposed and is a major participant in Airbus. — ASSOCIATED PRESS



Rates still below 3 percent

Despite economic data that typically would push them higher, mortgage rates persist in hovering below 3 percent. It has been more than two months since they have been above that level. According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average fell to 2.93 percent. It was 2.96 percent a week ago and 3.13 percent a year ago. The 15-year fixed-rate average ticked up to 2.24 percent from 2.23 percent a week ago. It was 2.58 percent a year ago. — WASHINGTON POST


Relocations continue as the pandemic eases

The share of home buyers searching for a new place to live outside their metro area dipped slightly in April compared with the first quarter of 2021 but is still well above the percentage of people looking to relocate before the coronavirus pandemic, according to a report by Redfin real estate brokerage. Nationally, 30.6 percent of Redfin users searched for a home outside their metro area in April, down slightly from 31.5 percent during the first quarter of 2021 and up from 26 percent in April 2020. As has been the case for most of the pandemic, many of the most popular markets for buyers looking to leave their metro area have been in warmer climates in the South and Southwest, with Phoenix topping the list. — WASHINGTON POST



Microsoft boosts its software for continued remote work

Employees are resisting calls to return to the office, but Microsoft wants companies to know it has an answer for smoothing things out while some workers remain remote. The software maker on Thursday showed off design changes to its Teams teleconference and collaboration software meant to ensure remote workers are just as involved in meetings as those seated in company conference rooms. — BLOOMBERG NEWS


Bank of America wants all vaccinated workers back in the office after Labor Day

Bank of America expects all of its vaccinated employees to return to the office after Labor Day in early September, and will then focus on developing plans for returning unvaccinated workers to its sites. More than 70,000 of the firm’s employees have voluntarily disclosed their vaccine status to the bank, chief executive Brian Moynihan said in a Bloomberg Television interview Thursday. The firm, which has more than 210,000 employees globally, has already invited those who have received their shots to begin returning. Bank of America and its rivals have begun unveiling plans in recent weeks to return thousands of workers to towers in New York and elsewhere in coming months as vaccines abound across the United States. Goldman Sachs asked its New York staff to begin returning this week, marking the most ambitious plan among major Wall Street firms. — BLOOMBERG NEWS