fb-pixel

GOVERNMENT

Massport promotes Meyran to head maritime operations

The Massachusetts Port Authority has picked a familiar face to run its maritime operations. The Massport board on Thursday promoted Michael Meyran to be the new port director. Meyran, who was deputy port director for more than a decade, takes over for Lisa Wieland, who became Massport’s chief executive in August. Meyran’s responsibilities include the Conley shipping terminal and the Black Falcon cruise terminal (aka the Flynn Cruiseport) in South Boston, as well as an ambitious harbor dredging project. The port operation brings in about $120 million in revenue, and directly employs 120 people on its staff (a number that doesn’t include union longshoremen). Meyran earned $230,000 a year as deputy port director and will earn $265,000 as director. — JON CHESTO

Advertisement



TECHNOLOGY

iRobot moves some production to Malaysia amid trade war with China

Bedford-based iRobot is putting its chips down on Malaysia. The consumer products company has started making robots with its manufacturing partner in Malaysia, Jabil Inc., sooner than expected. iRobot has been hit hard by the trade war with China. As a result, it has been trying to demonstrate to investors that it’s able to broaden its supply chain. The company is now producing one of its Roomba 600 models in Malaysia, but may soon expand production there to include others. Before the Malaysia line was operational, all iRobot products were made in China by third-party manufacturers. By year’s end, the company expects Jabil will have the capacity in Malaysia to make up to 1 million robots a year there, or about 40 percent of iRobot’s US-bound products. — JON CHESTO

BANKING

Citizens arranges $75m for hotel planned near Haymarket

Citizens Bank is bringing some of its green to Boston’s Greenway. The Providence-based bank’s commercial finance team has arranged a $75 million loan for the development team behind the construction of a Canopy by Hilton Hotel near Haymarket on the Rose Kennedy Greenway. The six-story, 151,000-square-foot project will include a 212-room hotel, three-street level retail spaces, and a second-floor café, at the corner of North and Blackstone streets. Among the partners on the team: CV Properties of Boston, Harbinger Development of Wellesley, and Olshan Properties of New York. — JON CHESTO

Advertisement



HOLIDAY FEASTING

That Thanksgiving meal will cost less this year

No need to feel guilty over another helping of turkey next week, at least as far as your grocery bill is concerned. Retail prices for the traditional centerpiece of the Thanksgiving meal are down a little more than 4 percent from last year, hitting their lowest holiday-season level since 2010, according to the American Farm Bureau Federation’s annual survey of grocery costs for the celebration. The drop in turkey prices helps to offset increases in the cost of other ingredients, most notably sweet potatoes, up 11 percent. The average cost of a traditional Thanksgiving dinner for 10 this year comes to $48.91, just 1 cent more than 2018, according to the survey. The shopping list also includes stuffing, rolls with butter, peas, cranberries, a veggie tray, pumpkin pie with whipped cream, and coffee and milk. — BLOOMBERG NEWS

LUXURY

LVMH in talks to buy Tiffany

LVMH and Tiffany & Co. entered talks after the French owner of Louis Vuitton boosted its offer for the US jeweler in an effort to clinch the biggest acquisition ever in the luxury-goods industry, according to people familiar with the matter. LVMH is trying to bring Tiffany on board with an offer worth about $15.7 billion, up from the $120 a share, or about $14.5 billion, that it offered last month. By gaining the 182-year-old brand known for its robin’s egg blue boxes, LVMH would challenge Cartier owner Richemont for dominance in the global jewelry business. At LVMH, the brand would join a stable that already includes Christian Dior fashion, Bulgari jewelry, and Dom Perignon Champagne. — BLOOMBERG NEWS

Advertisement



AUTOMOTIVE

GM recalling more than 640,000 pickups because of potential carpet fire

General Motors is recalling over 640,000 pickup trucks worldwide because hot gas from a high-tech seat belt can set the carpeting on fire. The recall covers certain 2019 and 2020 Chevrolet Silverado and GMC Sierra 1500 trucks. Also included are some 2020 Silverado and Sierra 2500 and 3500 heavy-duty pickups. All have carpet as a floor covering, and most are in North America. GM says it uses a small explosion to move a piston that tightens the belts before a crash. The explosion can release hot gas through an opening in a bracket, possibly setting the carpet on fire. The company reports two fires but no injuries.
— ASSOCIATED PRESS

AUTOMOTIVE

Fiat Chrysler recalling nearly 700,000 vehicles to fix stalling problem

Fiat Chrysler is recalling almost 700,000 SUVs worldwide to fix a problem that can cause the engines to stall. The recall covers certain 2011 through 2013 Jeep Grand Cherokees and Dodge Durangos. Most are in North America. The company says silicon deposits on the contact points of fuel pump relays can cut off the electrical current and cause engines to stall or fail to start. Fiat Chrysler says it’s not aware of any related crashes or injuries. — ASSOCIATED PRESS

ECONOMY

Unemployment claims remain at highest level since June

Filings for unemployment benefits held last week at the highest level since June, bucking forecasts for a decline and suggesting the labor market may be softer than previously thought. Jobless claims were unchanged at 227,000 in the week ended Nov. 16, as the prior reading was revised higher by 2,000, according to Labor Department figures released Thursday. The reading was above all estimates in Bloomberg’s survey of economists. The four-week average, a less-volatile measure, increased to 221,000, also the highest since June. — BLOOMBERG NEWS

Advertisement



REAL ESTATE

Home sales up in October

Americans purchased more homes in October, though sales were held back by a shortage of available properties. The National Association of Realtors said Thursday that sales of existing homes rose 1.9 percent last month to a seasonally adjusted annual rate of 5.46 million. That’s 4.6 percent higher than a year ago. — ASSOCIATED PRESS

RETAIL

Macy’s struggles as it enters the holiday season

Macy’s weak third-quarter earnings report threw coal on the holiday season and offered the latest sign of challenges for traditional clothing retailers operating at malls. Macy’s cut its profit and sales expectations for the year after posting a steeper-than-expected 3.5 percent drop in sales at stores opened at least a year including business from licensed departments like jewelry. It marked Macy’s first comparable store sales decline in almost two years. The company, which also operates Bloomingdale’s, cited the late arrival of colder weather, meager tourist business, weak traffic at lower-tier malls, and problems on its website. — ASSOCIATED PRESS

SOCIAL MEDIA

Twitter to allow users to hide replies to tweets

Twitter Inc. said it will start letting all users hide replies to the tweets they send, an effort to improve the health of discussions and interactions on the service. The company has been testing the feature since summer in different markets, including the United States and Japan, but is now rolling it out globally. The tool lets users hide specific comments made on their posts, meaning those comments won’t be visible to other users unless they click a button to reveal them. The change provides a degree of control that could be used to keep spammers away, or to hide hateful or inappropriate replies. — BLOOMBERG NEWS

Advertisement