HEALTH CARE
Athenahealth moving to Brighton
Athenahealth is on the move. The health care tech company has leased 100,000 square feet at Boston Landing in Brighton for its corporate headquarters. That’s roughly one-third of the space it occupies today at its longtime home in the Arsenal complex in Watertown, about 1.5 miles away. The company, which was acquired by private equity giants Bain Capital and Hellman & Friedman for $17 billion just over a year ago, employs about 1,600 people in Massachusetts. No job cuts are planned as part of the latest move, which will take place later this year. “Watertown has been athenahealth’s home for nearly 20 years, and we thank the community for all its support as we grew from a start-up to one of the largest employers in the Boston area,” chief executive Bob Segert said in a statement. “Boston Landing offers space that can keep pace with the changing nature of work and evolve with the needs of our workforce and business.” The trade publication Real Reporter first reported the Boston Landing lease. — JON CHESTO
AUTOMOTIVE
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Stellantis to offer buyouts as it transitions to EVs
Stellantis is offering buyouts to 33,500 US hourly and salaried employees as it seeks to cut costs, citing a ‘’competitive’' market and rapid shift to electric vehicles. The automaker, which owns the Chrysler, Jeep, and Ram brands, is offering the buyouts to 31,000 US hourly employees and 2,500 salaried employees, spokeswoman Jodi Tinson confirmed. The company intends to cut about 3,500 hourly production and skilled trade jobs as a result of the buyouts, according to a letter posted earlier this week by the UAW Local 1264, which represents a Stellantis stamping plant in Sterling Heights, Mich. — BLOOMBERG NEWS
LABOR
Starbucks refuses to negotiate in good faith with unionized cafes, complaint says
Starbucks has refused to negotiate in good faith at more than 100 newly unionized cafes, US labor board prosecutors alleged in a complaint. The coffee chain has illegally “failed and refused” to collectively bargain fairly at 144 sites. Those include the first two cafes to unionize with Starbucks Workers United, the National Labor Relations Board’s Seattle regional director said. At those two locations, both in upstate New York, the agency alleges that Starbucks “bargained with no intention of reaching agreement” with the union, including by “insisting upon proposals that are predictably unacceptable to the union,” and “demeaning and otherwise undermining the union’s chosen representatives,” according to a Tuesday filing. Starbucks didn’t immediately respond to a Bloomberg inquiry regarding the complaint. The company has said repeatedly that it is negotiating fairly and that the union is the one failing to do so. “We will continue to negotiate in good faith,” former chief executive Howard Schultz testified last month before a US Senate committee. — BLOOMBERG NEWS
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ART
Two museums buy early portrait of person of color by British artist
One of the earliest portraits of a person of color by a British artist will remain on public display after London’s National Portrait Gallery and the J. Paul Getty Museum in Los Angeles struck a 50 million-pound ($62 million) deal to buy it. The two institutions announced Wednesday they had each pitched in 25 million pounds to acquire Joshua Reynolds’s depiction of an 18th-century Polynesian man, “Portrait of Mai.” The seven-foot-high painting is considered a masterpiece by the renowned portrait artist and is the first known grand depiction of a nonwhite subject in British art. — ASSOCIATED PRESS
AVIATION
Boeing lost more than $400 million in first quarter
Boeing lost $425 million in the first quarter — more than Wall Street expected — but said Wednesday that it plans to boost production of its best-selling plane later this year. Revenue rose 28 percent from a year earlier, as airlines scooped up new jets to meet rising travel demand. Boeing’s passenger jets have been plagued by production problems, and it took a write-down in the first quarter for a military tanker. — BLOOMBERG NEWS
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CRYPTOCURRENCY
Bahamas to tighten regulations in wake of FTX debacle
The Bahamas plans to tighten crypto regulations that were tarnished by the collapse of the FTX exchange, which was based on the island nation along with the platform’s fallen founder Sam Bankman-Fried. The Securities Commission of the Bahamas invited feedback on the proposed changes to the Digital Assets and Registered Exchanges Act. Its goals include strengthening financial and reporting requirements for crypto businesses. — BLOOMBERG NEWS
AVIATION
Airbus says supply-chain snags could persist into 2025
Airbus and Safran expect supply chain disruptions to continue at least into next year, complicating output for some of Europe’s biggest aerospace companies just as airlines are clamoring for new jets. Airbus chief executive Guillaume Faury, speaking with France Inter radio on Wednesday, said component snarls could last until the end of 2024 or even into 2025. Safran, which provides engines for the European planemaker’s A320 family of single-aisle jets, said separately that securing a steady flow of parts and materials remains its No. 1 issue, and that glitches might extend into 2024. — BLOOMBERG NEWS
TOYS
Mattel reveals new Barbie representing those with Down syndrome
Toy company Mattel revealed its first Barbie doll representing a person with Down syndrome on Tuesday. Mattel collaborated with the National Down Syndrome Society to create the Barbie and “ensure the doll accurately represents a person with Down syndrome,” the company said. Design features of the new Barbie were made under guidance from NDSS, Mattel said. In addition to portraying some physical characteristics of a person with Down syndrome, the Barbie’s clothing and accessories carry special meaning. The blue and yellow on the doll’s dress, accompanied by butterflies, represent symbols and colors associated with Down syndrome awareness. And the three chevrons on the Barbie’s necklace represent how people with Down syndrome have three copies of their 21st chromosome, Mattel said. In addition, the Barbie wears ankle foot orthotics, which some children with Down syndrome use. — ASSOCIATED PRESS
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STREAMING
Netflix loses more than 1 million users in Spain after password sharing crackdown
Netflix lost more than 1 million users in Spain in the first three months of 2023 according to market research group Kantar, a sign that the streaming giant’s crackdown on password-sharing could backfire. In early February, Spain became one of Netflix’s first markets to introduce a monthly fee for users who shared their log-in details with another household and technical measures to detect such sharing. The move was linked to a fall in users of more than a million, two-thirds of whom were using someone else’s password, according to Kantar’s research, which is based on surveys of household streaming habits. — BLOOMBERG NEWS
WORKFORCE
US economy loses billions a year due to menopause symptoms
The US economy is losing $26.6 billion a year due to lost productivity and health expenses resulting from employees who are managing menopause symptoms, according to a new report. The study from Mayo Clinic, which analyzed responses from over 4,400 women aged 45 to 60, found that nearly 11 percent reported missing work in the last 12 months due to symptoms like hot flashes and sleep disturbances. — BLOOMBERG NEWS
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