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Immuta to increase workforce

Immuta CEO Matthew CarrollImmuta


Immuta to increase workforce

Boston software firm Immuta plans to grow its roughly 225-person workforce by 100 people this year to keep up with demand for its data management software, after nearly doubling its headcount in 2021. Chief executive Matthew Carroll described the firm’s hiring plans in an interview with the Globe, saying Boston is a good place to hire talent in part because of the thick concentration of universities and enterprise software firms here. The new jobs will be predominantly based in Boston but some will be spread among other Immuta locations in College Park, Md., and Columbus, Ohio, as well as London and Sydney, and some will be fully remote. Immuta’s software helps clients manage access to their databases and makes it easier to share this data. The company, based in a 16,000-square-foot office in Fort Point, raised $90 million from venture capital investors last year, bringing its total VC funding to nearly $170 million. New investors in that round included Greenspring Associates, March Capital, NGP Capital and Wipro Ventures. — JON CHESTO



Rates continue to rise

Average long-term mortgage rates rose again this week as the key 30-year loan rate vaulted over 4.5 percent and attained its highest level since the end of 2018. Against a backdrop of inflation at a four-decade high, the increases in home loan rates come a few weeks after the Federal Reserve raised by a quarter point its benchmark short-term interest rate — which it had kept near zero since the pandemic recession struck two years ago — to cool the economy. The central bank has signaled potentially up to seven additional rate hikes this year. Mortgage buyer Freddie Mac reported Thursday that the average rate on the 30-year loan this week rose to 4.67 percent from 4.42 percent last week. That’s a sharp contrast from last year’s record-low mortgage rates of around 3 percent. A year ago, the 30-year rate stood at 3.18 percent. The average rate on 15-year, fixed-rate mortgages, popular among those refinancing their homes, jumped to 3.83 percent from 3.63 percent last week. — ASSOCIATED PRESS



Downloads of Trump’s app cratering

The blank-check firm bringing Donald Trump’s media venture public is sinking with daily downloads for the former president’s social media app declining 95 percent since launching last month. Digital World Acquisition Corp., the special-purpose acquisition company merging with Trump Media & Technology Group, has shed 29 percent of its value since shares soared late in February when the Truth Social app launched on the Apple App Store. Downloads have slowly declined to 8,000 per day from an initial boom of 170,000, according to research firm Apptopia. The number of daily-active users on Apple devices over the past week was roughly 513,000, according to estimates from Apptopia. — BLOOMBERG NEWS


Coin shortage hurting some businesses

Got a dime you can spare? Coins are in short supply — again. Retailers, laundromats, and other businesses that rely on coins want Americans to empty their piggy banks and look under couch cushions for extra change and “get coin moving.” A group of trade associations that represent individual businesses including banks, retail outlets, truck stops, grocery stores, and more is asking the Treasury Department for more help convincing Americans to get coins back in circulation. The consequences of the circulation slowdown hit people who don’t have an ability to pay for items electronically, they say. — ASSOCIATED PRESS



Caitlyn Jenner hired as a contributor at Fox

Fox News Channel says it has hired Caitlyn Jenner as a contributor, with her first appearance set for Thursday on Sean Hannity’s program. Jenner, the former Olympic decathlete, ran an unsuccessful campaign for California governor last year. The network said she’ll offer commentary and analysis across various Fox News Media platforms. “Caitlyn’s story is an inspiration to us all,” said Suzanne Scott, Fox News Media CEO. “She is a trailblazer in the LGBTQ+ community and her illustrious career spans a variety of fields that will be a tremendous asset for our audience.” Jenner won the Olympic gold medal in the decathlon in 1976. She later came out as a transgender and identifies as a female. She said in a statement she was “humbled by this unique opportunity” to speak directly to Fox’s audience. — ASSOCIATED PRESS


Nearly half of small businesses say they raised salaries in March

A near-record 49 percent of US small-business owners said they raised worker compensation in March, which barely helped chip away at still-elevated job openings, the National Federation of Independent Business said Thursday. The share of small firms boosting worker pay is just below the 50 percent seen in January, which was the highest in monthly data back to 1986. Some 28 percent said they planned to raise compensation in the next three months, up slightly from February’s 26 percent. — BLOOMBERG NEWS


Walgreens stock down as COVID bump could be petering out

Walgreens shares tumbled 5.63 percent Thursday after the pharmacy giant left its outlook for the remainder of the year unchanged, suggesting that a surge in business helped by demand for COVID-19 vaccines and testing is starting to run out of steam. The drugstore operator reported adjusted earnings of $1.59 a share Thursday, well above the $1.37 average estimate of analysts surveyed by Bloomberg. But it affirmed its annual forecast of adjusted earnings per share growth in the low single digits — a sign that the trends that drove the better-than-expected outcome this winter won’t be sustained. The shares slid as much as 6.9 percent as of 10:14 a.m. in New York, the most intraday since July. — BLOOMBERG NEWS



European clothing companies struggle

H&M’s dismal earnings update on Thursday is just the latest setback for shares of European clothing retailers as they end a second straight quarter of underperformance. With a decline of 29 percent, Zara owner Inditex SA is heading for its worst quarter on record, following the fourth quarter’s 10 percent. H&M and Next have fared only marginally better as skyrocketing energy prices following Russia’s invasion of Ukraine have sapped disposable incomes and led shoppers to reassess their discretionary spending. — BLOOMBERG NEWS


Barclays latest to raise pay

Barclays is raising wages for US workers by at least 21 percent to $20.50 an hour from $17, joining the ranks of lenders boosting compensation for their lowest-paid staff. The hike is set to kick in this month and applies to more than 900 employees primarily tied to the firm’s consumer bank, Barclays said in a statement. The new rate will vary based on location and cost-of-living indexes. — BLOOMBERG NEWS