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BeerWorks tapped out, will close its five locations

Craig F. Walker/Globe Staff/The Boston Globe


BeerWorks tapped out, will close its five locations

Another well-known local restaurant group is closing its doors for good, a victim of COVID-related shutdowns. BeerWorks announced on its website Monday that it will permanently close its five locations, “due to the pandemic and all that.” The chain launched in 1992 with its first location across from Fenway Park and eventually had an outpost near North Station as well as in Salem, Hingham, and Framingham. They all closed when COVID hit in March, 2020, and while the company planned to reopen some, if not all, of its locations, that never happened. BeerWorks is the latest in a long and growing list of Boston-area restaurants and bars to shut their doors since the pandemic began. Even as COVID restrictions have eased in recent months, high operating costs, mounting back rent and a labor shortage have squeezed more restaurants, forcing a new wave of closures this summer. Industry groups are now lobbying for a second round of federal funding on top of $29 billion allocated this spring, including nearly $1 billion in Massachusetts. Fewer than half the restaurants in the state that applied for the relief fund received any money. — TIM LOGAN



Moderna says foreign partners in vaccine manufacturing face delays

Moderna said its COVID-19 vaccine manufacturing partners outside the United States are “facing delays” due to laboratory testing issues that occurred in recent days. While the problem has been resolved, it has slowed release of Moderna’s vaccine to markets outside the United States, a spokeswoman for the Cambridge biotech said in an e-mail. The problem will cause short-term adjustments to vaccine delivery outside the United States, she said. Moderna is shipping vaccine as it makes it, which means it has no extra stock in storage to smooth over these types of temporary supply interruptions, spokeswoman Colleen Hussey said in an e-mail. Earlier, South Korea’s prime minister said at a meeting that Moderna had notified the country that an adjustment in the vaccine supply schedule is “inevitable” due to a “production setback issue.” “We will remain in close contact with governments, recognizing the importance of delivery planning for vaccination roll-out,” Moderna said in the statement. “Moderna and its manufacturing partners are working together to minimize this shortfall across all impacted nations.” The company didn’t specify where the problems occurred. Its partners outside the United States include Lonza Group AG, which makes the vaccine substance, and Laboratorios Farmaceuticos Rovi SA in Spain, which fills vaccine vials. ― BLOOMBERG NEWS



US home prices set another record as the market stays hot

US home prices once again surged the most in more than 30 years. Nationally, the S&P CoreLogic Case-Shiller index of property values climbed 16.6 percent in May from a year earlier, according to a statement on Tuesday. That followed a 14.8 percent gain in April and was the 12th straight month that price gains accelerated.The jump in May is now the biggest in data going back to 1988, surpassing a record that was set in April as a shortage of available homes to buy and low interest rates continue to fuel the housing market. “I find myself running out of superlatives,” said Craig Lazzara, global head of index investment strategy at S&P Dow Jones Indices. “We have previously suggested that the strength in the US housing market is being driven in part by reaction to the pandemic, as potential buyers move from urban apartments to suburban homes. May’s data continue to be consistent with this hypothesis.” Home prices in 20 US cities, meanwhile, jumped 17 percent, beating the median estimate in a Bloomberg survey of economists. That was biggest jump since August 2004. The surging prices have made it hard for buyers to find properties they can afford. Sales of new US homes dropped unexpectedly in June, according to a report this week. ― WASHINGTON POST



Greyhound’s owner hopes to sell off the struggling bus company

The owner of the ailing Greyhound bus service is stepping up efforts to offload the business after completing the $4.6 billion disposal of its other US assets. Talks on a Greyhound sale are ongoing with several parties, FirstGroup Plc chief executive Matthew Gregory said in an interview. He declined to say whether a buyer might be found before he exits in September. FirstGroup, based in Aberdeen, Scotland, was nearing a sale of Greyhound when the coronavirus pandemic struck. The transit group, which operates rail and bus services, permanently closed Greyhound’s Canadian arm after a clampdown on travel to the United States shuttered cross-border routes on the Pacific coast and Eastern Seaboard. It has sought to wring value from the business with $98 million in property sales. ― BLOOMBERG NEWS


Washington Post will require employees to be vaccinated

The Washington Post will require all employees to show that they are vaccinated against the coronavirus, the newspaper’s publisher said Tuesday. The Post’s publisher, Frederick J. Ryan Jr., said in an e-mail to staff that the company had decided to require proof of vaccination as a condition of employment, starting when workers return to the office in September, after hearing concerns from many employees about the emergence of coronavirus variants. The Post, which is owned by Amazon founder Jeff Bezos and employs more than 1,000 journalists, is planning for a Sept. 13 office return. Contractors and guests to the office would also be required to provide proof of vaccination, Ryan said in the e-mail. He said the company would provide accommodations for those with “documented medical conditions and religious concerns.” The Post’s stance comes as companies across the United States wrestle with how to safely transition workers back to offices after nearly 18 months of remote work. The rising number of infections from the Delta variant has prompted many companies to rethink the return-to-office plans they announced in the spring. ― NEW YORK TIMES



Wu-Tang Clan album owned by Martin Shkreli sold by US government

The US government has sold the only copy of the Wu-Tang Clan’s “Once Upon a Time in Shaolin,” an album that had been owned by “Pharma Bro” Martin Shkreli. The price and identity of the buyer is being kept secret, per terms of the sale, according to a press release Tuesday from the acting US Attorney for the Eastern District of New York. Proceeds from the sale will go toward a $7.4 million forfeiture judgment that Shkreli faces after being convicted of securities fraud for his actions at two hedge funds he ran and as the chief executive officer of pharmaceutical company Retrophin Inc. Shkreli is currently serving a seven-year prison sentence. The government seized the album after the Supreme Court denied his request to review his conviction and sentence. Shkreli paid $2 million for the album in 2015. ― BLOOMBERG NEWS



Demand expected to far outstrip supply of legal cannabis in New Mexico

They’re anticipating another sort of supply bottleneck in New Mexico. The official overseeing New Mexico’s new recreational marijuana industry said, “it’s highly likely we will run out of cannabis in the first week, if not the first two weeks” when sales counters open next year, the Santa Fe New Mexican reported. Linda Trujillo, superintendent of the Regulation and Licensing Department, told state lawmakers Monday that New Mexico will need nearly 500,000 plants to meet anticipated demand and that the industry could suffer a growth failure rate of 18 percent or more, the newspaper said. ― BLOOMBERG NEWS