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Mass. Competitive Partnership adds a college president to its board

MIT president Rafael ReifStephan Savoia/Associated Press


Mass. Competitive Partnership adds a college president to its board

For the first time, the Massachusetts Competitive Partnership is adding a college president to the partnership’s board of high-powered CEOs. The MACP on Monday announced it has appointed Rafael Reif, president of the Massachusetts Institute of Technology, to the MACP board. Reif is expected to focus in particular on the Partnership’s “Growing the Innovation Economy” committee, whose goals include enhancing science, math, and computer education in public schools in Massachusetts. Reif has been president at MIT since 2012. — JON CHESTO


Top Dunkin’, Baskin-Robbins finance official leaving

The top finance executive at the Dunkin’ and Baskin-Robbins chains is leaving the Canton-based group to move to the Atlanta area, to work for the group’s new parent company. Inspire Brands, a private equity-owned restaurant holding company in Atlanta, said it has tapped Kate Jaspon to be its new chief financial officer. Jaspon had spent more than 15 years in various finance and treasury roles in Dunkin’ Brands, which Inspire acquired in December. She’ll take over for David Pipes, who is retiring from Inspire. He has been with Inspire and its predecessor company, Arby’s, for nearly two decades. A replacement for Jaspon in Massachusetts has not been named. — JON CHESTO



Wellesley company gets a new CEO

Vanguard Renewables, the Wellesley-based operator of organic waste-to-energy plants, has appointed a new chief executive to run the 70-person company. Joel Gay will replace cofounder John Hanselman as Vanguard’s chief executive, while Hanselman will become the chief corporate development officer. Gay lives in Miami now, but is planning to establish a residence in the Boston area. Gay had previously run Energy Recovery, a California-based manufacturer that he left in 2018. Gay’s arrival comes as Vanguard is launching a major expansion, with plans to install more than 100 anaerobic digester projects across 30 states by 2025. These digesters convert gas from decomposing organic waste, such as food waste and cow manure, to energy. Vanguard operates six farm-based digesters in the Northeast today. — JON CHESTO



Sweetgreen files for IPO

Sweetgreen, the salad restaurant chain founded by Georgetown University graduates, has filed confidentially for an initial public offering. The Los Angeles-based company said in a statement Monday that it has submitted a draft registration statement to the Securities and Exchange Commission for an IPO. The offering is expected to commence after the regulator completes its review process and is subject to market conditions, the statement showed. Founded in 2007, the restaurant chain was valued at $1.78 billion in a January funding round. — BLOOMBERG NEWS


Company sued for saying the US could run out of meat in early days of pandemic

Smithfield Foods was one of the first companies to warn that the United States was in danger of running out of meat as coronavirus infections ripped through processing plants in April 2020 and health officials pressured the industry to halt some production to protect workers. Now, a lawsuit filed last week by Food and Water Watch, a consumer advocacy group, accuses the giant pork producer of falsely stoking consumer fears and misleading the public. The suit says the nation was never in danger of running out of meat. It claims there were ample supplies in cold storage, while at the same time pork exports to China, in particular, were surging. The suit was filed in Superior Court in Washington, where a law allows a nonprofit group to sue on behalf of consumers without needing to show that they suffered direct harm. — NEW YORK TIMES



Storied French department store reopens after 16 years

La Samaritaine, the landmark Paris department store that dates to 1870, is reopening in a city bereft of tourists following a 16-year closure. Luxury group LVMH, which owns the store, carried out a 750 million-euro ($894 million) renovation and originally intended to reopen last April, until the pandemic derailed those plans. French President Emmanuel Macron joined on Monday in inaugurating the revamped store, which opens to the public on Wednesday. While COVID-19 is in retreat in France and the government has lifted most restrictions, the grand relaunch comes at a difficult moment for many retailers. In pre-pandemic times, the French capital received some 10 million tourists each summer, but may get only half that number this year, according to estimates from the Paris Tourism Office. Making matters worse, a shift to shopping online has accelerated during the health crisis. — BLOOMBERG NEWS


Spielberg signs a deal with Netflix

Steven Spielberg, a filmmaker synonymous with big-screen enchantment, has set a new deal with Netflix in which his production company, Amblin Partners, will make multiple feature films per year for the streaming giant. The partnership, one long courted by Ted Sarandos, Netflix chief content officer, is a major get for the company that, amid increasing competition, brings perhaps the most beloved film director more officially into the streaming fold. The deal announced Monday doesn’t specifically include any movies to be directed by Spielberg. This December, he will release “West Side Story” theatrically with Disney’s 20th Century Studios. Amblin has a separate deal with Universal Pictures for theatrical releases. — ASSOCIATED PRESS



Apple targeted by German antitrust agency

Apple became the latest target of a German antitrust crackdown on tech giants’ market power with a wide-ranging probe examining the company’s “digital ecosystem.” The nation’s Federal Cartel Office said Monday it will focus on the App Store and whether Apple has created a dominant business around its iPhone and operating system iOS that extends across several markets. Since the start of the year, the agency has opened similar investigations against Facebook, Google, and Amazon. — BLOOMBERG NEWS


Facebook launches podcasts, live audio streams

Facebook launched podcasts and live audio streams in the US on Monday to keep users engaged on its platform and to compete with emerging rivals. Facebook says it is allowing public figures with verified accounts to start live audio rooms and invite anyone else to speak. A handful of podcasts will be available to people in the US at first and the company plans to add more down the line. — BLOOMBERG NEWS


WeWork rebounds

As vaccination rates rise and workers start to trickle back into offices, WeWork is having its best month in almost two years. The global co-working company said Monday that it sold enough desks in April and May — and had fewer cancellations — to record its best net desk sales since September 2019. Back then, WeWork’s attempt at an initial public offering fizzled and it drastically cut expenses, laid off thousands of employees, and ousted its chief executive officer. — BLOOMBERG NEWS


Google to close its London building focused on startups

Google plans to close its seven-story hub devoted to helping startups in London’s Shoreditch district and replace it with virtual services following the shift to home-working. The move comes after the pandemic showed the technology giant that it could serve young firms across the country without the need for a physical space, according to a statement Monday. Google was forced to offer its support programs and services online when the coronavirus struck. — BLOOMBERG NEWS