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Dynatrace CEO to retire


Dynatrace CEO to retire

Waltham software services company Dynatrace said its longtime CEO, John Van Siclen, will retire at the end of the year. Van Siclen, 65, will be replaced by Akamai president Rick McConnell, 55, who oversees Akamai’s cybersecurity unit. McConnell will receive a salary of $610,000, a one-time bonus of $250,000, and restricted shares subject to various vesting conditions worth more than $23 million at Dynatrace’s current stock price. Van Siclen, who has been CEO since 2008, joins several other longtime Boston tech CEOs departing this year, including Hubspot’s Brian Halligan and TripAdvisor’s Steve Kaufer. Dynatrace was founded in 2005 and was later acquired by Compuware. After being spun out, it had an initial public offering in 2019. — AARON PRESSMAN



Encore Boston Harbor had best month ever last month

Encore Boston Harbor had its best month on record in October, the latest sign that the casino industry is bouncing back from the COVID-19 pandemic. The Everett casino logged $62.8 million in gaming revenue in the month, according to state figures released Monday. That’s $3.7 million more than the previous record, set in July, and 52 percent more than the $41.1 million recorded in October 2020. MGM Springfield and Plainridge Park Casino also recorded double-digit gains compared with the same month last year. Massachusetts’ three casinos generated $26.8 million in tax revenue for the month, also a record. Casinos across the country have enjoyed a strong year amid pent-up demand, widespread vaccination, and a loosening of COVID-19 restrictions. The industry as a whole recorded its busiest quarter ever in the three months ending Sept. 30, according to figures last week from the American Gaming Association, and is on pace to break the annual record for revenue, which was set in 2019. — TIM LOGAN



MTA to delay fare increases for six months

New York’s Metropolitan Transportation Authority plans to delay scheduled fare hikes for six months and will suspend potential service cuts “indefinitely” as the agency is set to receive billions of dollars in aid from a $1 trillion federal infrastructure bill. The MTA’s board will consider those changes at its monthly meeting Wednesday. The agency will postpone the fare increases for at least six months, Janno Lieber, the agency’s acting chief executive officer, told board members Monday during a public committee meeting. New York will receive $10.5 billion for transit infrastructure in the federal bill, with the bulk of that going to the MTA to finance capital projects to expand and modernize its subway system and make it more accessible. — BLOOMBERG


Summers warns that ignoring inflation could usher Trump back into office

Former US Treasury Secretary Lawrence Summers warned that failing to address excess inflation could bring about the re-election of former president Donald Trump. Summers said in a Twitter thread on Monday that the Biden administration’s Federal Reserve appointments need to recognize the challenge of containing inflation, which should inform its policies generally. Reducing tariffs is the most important supply-side policy to combat inflation, said Summers, who led the Treasury Department from 1999 to 2001. He also recommends that the Fed accelerates tapering of asset purchases. ‘’Excessive inflation and a sense that it was not being controlled helped elect Richard Nixon and Ronald Reagan, and risks bringing Donald Trump back to power,’’ wrote Summers, who is also a paid contributor to Bloomberg. — BLOOMBERG



US Supreme Court allows suits against Volkswagen to proceed

WASHINGTON — The Supreme Court on Monday turned away appeals from Volkswagen that sought to stop state and local lawsuits related to the 2015 scandal in which the automaker was found to have rigged its vehicles to cheat US diesel emissions tests. The court’s action allows suits by Ohio, Salt Lake County, Utah, and the environmental protection agency in Hillsborough County, Fla., which includes Tampa, to continue. A lower court said Volkswagen could face “staggering liability” over the state and local claims. The company argued that federal law gives the US Environmental Protection Agency, not state and local officials, authority to regulate its conduct. — ASSOCIATED PRESS


Tyson earnings up on rising meat prices

Tyson Foods, the top US meat company by sales, reported better-than-expected earnings as surging meat prices helped to offset a decline in volumes with a tight labor market continuing to impede operations. Sales volumes of beef, pork, and chicken each dropped sharply during Tyson’s fiscal fourth quarter, with the decline partially tied to one fewer week in the quarter compared to 2020. Demand remained strong even as higher costs including labor and freight raised meat prices. — BLOOMBERG


Latest version of “Halo” set for multiplayer gaming

Microsoft said “Halo Infinite,” the latest edition of the best-selling Xbox alien-shooter game, was available starting Monday for multiplayer gaming. The company, celebrating the 20th anniversary of the release of the original Xbox console and the first Halo game, said the first season of the game’s multiplayer mode began Monday with a public test version on personal computers and consoles. The title was delayed from last year when it was supposed to go on sale with the new generation of Xbox consoles, the SeriesX and Series S. The retail version of the game with campaign mode goes on sale Dec. 8. — BLOOMBERG



Airbus snags order for 111 new planes

DUBAI, United Arab Emirates — In its second blockbuster deal announcement in as many days at the biennial Dubai Air Show, Airbus announced on Monday that it has received an order from the Air Lease Corporation for 111 new aircraft. The deal, likely valued into the tens of billions of dollars, includes 25 A220-330s, 55 A321neos, 20 A321 XLRs, four A330neos and seven A350Fs. High-level executives of Airbus and Air Lease Corporation announced the sale at a press conference in Dubai. — ASSOCIATED PRESS


WeWork lost less in third quarter

WeWork’s loss narrowed in the third quarter, giving the stock a lift after its first financial results as a public company. The loss was $4.54 cents a share in the period that ended in September, compared with $5.51 a year ago, the New York-based company said in a statement Monday. Sales declined 18 percent to $661 million in the quarter. The company, which rents office space, went public last month by merging with a blank-check company. — BLOOMBERG



Casper being bought, will be taken private

The e-commerce mattress maker Casper is being acquired and taken private, less that a year after its public debut, for about $308 million. Durational Capital Management will pay $6.90 per share for Casper’s stock. The New York City company went public in February 2020 and it’s had a rough debut. After being valued as a private company at more than $1 billion, it began selling shares early last year for $14.50, which put its value as a public company at around $575 million. On Monday the company, which does have some brick-and-mortar retail locations, posted a $25.3 million loss for the third quarter. — ASSOCIATED PRESS