SOFTWARE
Workhuman expands in Framingham
HR software firm Workhuman has roughly tripled its office space in its home city of Framingham, by moving its North American headquarters from 200 Crossing Boulevard to 100 Staples Drive nearby. The privately held company is leasing 157,000 square feet at its new home, compared to 55,000 square feet at its old office. The new office, in a standalone building that’s been vacant for several years, is used by 250 to 300 workers who typically come into the office two days a week. Three of the building’s five floors are fully renovated, with adequate space today to accommodate up to 500 people, and more room to grow in the unfinished two floors. Workhuman vice president Jess Klay said the company was originally planning to expand its Crossing Boulevard space but then by “sheer chance and word of mouth” found out about the vacant building on Staples Drive and thought the new space would be perfect for the firm, which employs at least 1,000 people globally. — JON CHESTO
INTERNATIONAL
EU fines maker of Oreos $366 million for obstruction cross-border sales
The European Commission has imposed a fine of $366 million on food company Mondelez, the owner of Oreo cookies and other snack brands, for obstructing sales of its products between EU member states, the bloc’s executive arm said on Thursday. Mondelez owns the Cadbury and Toblerone chocolate brands as well as Oreo and Chips Ahoy cookies, Triscuit crackers, and Perfect Snacks nutrition bars. The commission said Mondelez tried to avoid that cross-border trade because that could lead to lower prices. It said this harmed consumers who end up paying more for chocolate, biscuits, and coffee. — ASSOCIATED PRESS
FINANCE
Goldman Sachs first Wall Street titan to comply with Saudi directive
Goldman Sachs has become the first Wall Street bank to take a step toward complying with Saudi Arabia’s ultimatum for foreign firms to set up their Middle Eastern base there. The investment bank received a license recently from the kingdom’s Ministry of Investment to set up its regional headquarters in Riyadh, according to people familiar with the matter. It wasn’t immediately clear how many staffers will move to Saudi Arabia and how much of Goldman’s regional operations will ultimately be based in the kingdom. — BLOOMBERG NEWS
ELECTRIC VEHICLES
Tesla building battery plant in Shanghai
Electric vehicle maker Tesla has begun construction of a factory in Shanghai to make its Megapack energy storage batteries, Chinese state media reported Thursday. The $200 million plant in Shanghai’s Lingang pilot free trade zone will be the first Tesla battery plant outside the United States. Tesla opened an EV plant in Shanghai in 2019 that assembles cars for China, Europe, and other overseas markets. It is the No. 2 seller in the booming Chinese market for electric vehicles. The market leader is Chinese auto company BYD. The state-run Xinhua News Agency lauded Tesla’s commitment to investing in China and “defying the rhetoric of ‘decoupling’ and ‘de-risking’ from China.” — ASSOCIATED PRESS
INTERNATIONAL
Farm worker sues former UK employer for discrimination, a first
A Nepalese farm worker who came to the UK to pick berries is suing her ex-employer for unpaid wages and discrimination in what campaigners say is the first case of its kind. Sapana Pangeni, 31, said in a witness statement given Wednesday that her hands bled because she was not given gloves and was forced to live in an unheated caravan in the winter of 2022 with five men at a farm near Reading in Southern England. Pangeni arrived in the UK on a seasonal visa granted to support farmers who are struggling to recruit enough local laborers to carry out essential field work. — BLOOMBERG NEWS
AUTOMOTIVE
Ferrari pushing ahead with electric supercar
Ferrari chief executive Benedetto Vigna is confident the manufacturer’s first fully electric supercar can sell just as well as its roaring combustion-engine models. The vehicle, to be unveiled in the fourth quarter of next year, will be “unique in every respect,” Vigna said Thursday in an interview with Bloomberg Television. “We are on the right track.” Mercedes-Benz has stopped development of separate underpinnings for electric sedans to save money and plans to sell gasoline-engine cars well into the 2030s. Lamborghini sees its fully electric sports cars are a ways off. — BLOOMBERG NEWS
TRAVEL
NYC revenue from tourists tops pre-pandemic levels
New York City’s tax revenue generated by tourists has surpassed pre-pandemic levels as a jump in US visitors helped offset a drop in international and business travel. Last year 62.2 million people visited the Big Apple, state Comptroller Thomas DiNapoli said in a report released Thursday. While that’s down from 66.6 million in 2019, those tourists are expected to generate a record $4.9 billion in sales and other tourism-related tax revenue in the current fiscal year, a 16 percent jump from 2020 driven in part by rising prices for hotel rooms and other services. — BLOOMBERG NEWS
ENTERTAINMENT
Disney sells stake in Indian television platform
Walt Disney Co. has struck a deal to sell its minority stake in a subscription television broadcaster to Tata Group, people familiar with the matter said, allowing the US media giant to focus on the merger of its Indian unit with billionaire Mukesh Ambani’s media arm. The transaction values Tata Play Ltd. at about $1 billion, the people said. Tata Group took full control of the TV platform after buying the 29.8 percent stake from Disney, said the people, who asked not to be identified as the information is private. Disney signed a binding agreement in late February to combine its India unit with Viacom 18 Media Pvt, creating an $8.5 billion entertainment giant that will have 750 million viewers and dominate the sector in the world’s most populous country. — BLOOMBERG NEWS
MORTGAGES
Rates drop below 7 percent
The average rate on a 30-year mortgage dipped this week to just below 7 percent for the first time since mid April, a modest boost for home shoppers navigating a housing market dampened by rising prices and relatively few available properties. The rate fell to 6.94 percent from 7.02 percent last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.57 percent. — ASSOCIATED PRESS
ENTERTAINMENT
Sony opts for content, not the next Walkman
Japanese electronics and entertainment company Sony says it’s focusing on creativity in movies, animation, and video games, rather than old-fashioned gadgetry. Its chief executive, Kenichiro Yoshida, outlined the company’s strategy Thursday, saying Sony was helping creative professionals deliver what he called “kando,” or a moving experience. Yoshida said the company is now emphasizing the creative process itself instead of prized products of the past like the Walkman portable music player and Trinitron color TVs. — ASSOCIATED PRESS
PHARMACEUTICALS
Jury finds that Zantac did not cause a woman’s cancer
Drug makers GSK and Boehringer Ingelheim GmbH persuaded an Illinois jury to reject a woman’s claims that their former blockbuster heartburn drug Zantac caused her cancer, according to lawyers involved in the case. The Chicago-based panel deliberated for more than five hours Thursday before finding that GSK and Boehringer weren’t liable for Angela Valadez’s injuries, in the first case over the drug to go to trial. She had been seeking at least $640 million in damages. — BLOOMBERG NEWS