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Mattapan church puts 25 acres of land in Roslindale up for sale

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Mattapan church puts 25 acres of land in Roslindale up for sale

It’s a rare find within the city of Boston these days: 25 contiguous acres of undeveloped land. That’s what the Mattapan-based Jubilee Christian Church has put on the market, off American Legion Highway in Roslindale. The church originally acquired the land with the intent of building a house of worship there, but has decided instead to focus on its Mattapan and Stoughton sites and use the money from the sale of the Roslindale property to further the church’s mission. Potential uses could include residential, retail, academic, and medical space. Red Dome Realty and Boston Commercial Properties are marketing the property. — JON CHESTO



GlaxoSmithKline licenses TB vaccine to the Gates institute

GlaxoSmithKline licensed a promising vaccine against tuberculosis to the Bill & Melinda Gates Medical Research Institute in a move the drug maker said will help bring prevention of the deadly disease to poor countries. The Gates group will lead development of the vaccine candidate and sponsor future clinical tests, London-based Glaxo said in an emailed statement. Financial terms of the agreement weren’t provided. Tuberculosis, a bacterial infection often seen in the lungs, infects about 10 million people annually, killing about 1.5 million. A live attenuated vaccine in use for nearly a century, called Bacillus Calmette-Guerin, prevents severe disease in infants and young children, but gives limited protection to adolescents and adults. Mid-stage testing has shown Glaxo’s experimental shot to be effective in about half of people who get it for as long as three years. — BLOOMBERG NEWS


Rolls Royce to replace engines on more than 30 Boeing jets

Rolls Royce said it’s swapping out more than 30 Boeing Co. 787 engines amid concern they could suffer a power surge that might lead to shut down mid flight. Concern is focused on 787-8 Dreamliners where both Trent 1000 turbines have accrued a high number of flights or operating hours, according to the European Union Aviation Safety Agency, which issued an airworthiness directive Friday ordering such engines to be “de-paired.”



Maine finance board approves loan for purchase of Saddleback Mountain

The Finance Authority of Maine’s board on Monday approved loan guarantees and a loan necessary for a Boston investment group to proceed with purchasing Saddleback Mountain and reopening the area to skiers next winter. The board unanimously approved $2.5 million in loan insurance on a $12.5 million loan, which was smaller than the original request, along with a $1 million direct loan. Arctaris Impact Fund also raised private funds and received a separate $1 million loan through the Maine Rural Development Authority. Before closing in 2015, Saddleback was Maine’s third-largest ski mountain with five lifts and 66 trails. The financial package will help Arctaris purchase the resort, as well as new equipment, including chairlifts. The company has said it plans to invest $38 million to upgrade lifts, build a new base lodge, expand snow making, and develop more housing. — ASSOCIATED PRESS


Casper plans to raise as much as $159m in IPO

Online mattress retailer Casper Sleep Inc. plans to raise as much as $159 million in its initial public offering, setting up a test of investor appetite for pioneering firms whose losses have grown with their revenue. The New York-based company said in a filing Monday that it planned to sell 8.35 million shares for $17 to $19 each. At the top end of the range and excluding the over-allotment option for underwriters, the company would be valued at just over $744 million — a drop from a previous assessment of $1.1 billion. Casper, founded in 2014, became one of the leading brands in the so-called “bed-in-a-box” industry thanks to its pioneering status in the niche and savvy marketing. — BLOOMBERG NEWS



Kellogg’s to phase out wheat and oats dried using glyphosate

Kellogg’s, the multinational food manufacturer based in Battle Creek, Mich., is taking a stand. But very quietly. At the end of 2019, the company made a commitment to phase out by 2025 wheat and oats on which farmers have used glyphosate as a drying agent, according to Kellogg’s chief sustainability officer Amy Senter. Glyphosate is the active ingredient in Roundup, the Bayer-Monsanto weedkiller that is the most heavily used herbicide in the United States. Although this practice is not widespread in Kellogg’s wheat and oat supply chains, the company said in a post on its Open for Breakfast website that ‘‘we are working with our suppliers to phase out using glyphosate as pre-harvest drying agent in our wheat and oat supply chain in our major markets.’’ That includes Britain, France, the United States, Canada, Mexico, and Australia. — WASHINGTON POST


Sales of NYC apartment buildings fall after new rent regulation rules

Sales of New York City apartment buildings tumbled to near-decade lows last year, after new rent rules scared investors away from properties with regulated units. By every measure, it was a terrible 2019 for those in the business of owning and selling multifamily properties. The dollar value of purchases across all boroughs fell 40 percent from the prior year to $6.91 billion, the lowest total since 2011, according to a report by brokerage Ariel Property Advisors. There were 290 multifamily deals — a 36 percent decline, and the first year with fewer than 300 transactions in records dating to 2010. — BLOOMBERG NEWS



H&M investigated in Germany for spying on customer service representatives

A German privacy watchdog says it has opened an investigation into clothing retailer H&M amid evidence that the Swedish retailer had committed “massive data protection breaches” by spying on its customer service representatives in Germany. Hamburg’s data protection commissioner said in a statement Monday that a hard drive containing about 60 gigabytes of data revealed that superiors at the site in Nuremberg kept “detailed and systematic” records about employees’ health, from bladder weakness to cancer, and about their private lives, such as family disputes or holiday experiences. — ASSOCIATED PRESS


India selling national carrier Air India

India said Monday it plans to sell its entire 100 percent stake in the national carrier Air India to shore up falling government revenues amid an economic slowdown, after an initial attempt last year failed to attract a single bidder. The government issued a document on Monday inviting initial expressions of interest in the airline, which operates both domestic and international routes and has accumulated huge losses in the past decade.


Prices at the pump drop a penny

The average price of a gallon of gasoline in Massachusetts dropped a penny in the past week, AAA Northeast announced Monday. Self-serve, regular is now selling for an average of $2.52 per gallon, a penny lower than last week and a penny higher than the national average. A year ago, the average per-gallon price in Massachusetts was 12 cents lower at $2.40 per gallon. AAA found a wide range of prices, from a low of $2.29 per gallon for regular, to a high of $3.05. — ASSOCIATED PRESS