HEALTH CARE
Steward transfers controlling interest to a management group
Steward Health Care has crafted a deal with its private-equity backer, Cerberus Capital Management, that transfers a controlling interest in the hospital operator to a management group. Terms of the transaction were not disclosed. The Dallas-based for-profit company said the deal makes it the largest physician-owned and operated hospital system in the United States. Chief executive Dr. Ralph de la Torre will continue to lead the company. Steward relocated its headquarters from Boston to Dallas in 2018. But its roots are in Massachusetts, where it runs 10 hospitals and employs 16,000 out of its 40,000-person workforce. Steward was created in 2010 when Cerberus invested in the business to acquire the struggling Caritas Christi hospitals. Today, Steward operates 35 hospitals in nine states. — JON CHESTO
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GOVERNMENT
Healey puts a focus on future of natural gas industry
Attorney General Maura Healey filed a petition on Thursday with the state Department of Public Utilities, calling on the agency to investigate the natural gas industry’s future in Massachusetts and to craft policies that facilitate a shift toward more renewable energy. Healey’s office noted the need by the heating sector to make significant reductions in fossil fuel burning to meet a state goal of net-zero greenhouse gas emissions by 2050. Among other things, Healey’s office is recommending that the DPU require gas companies to submit detailed business plans that take into consideration future gas demand in a “carbon-constrained economy” and to examine whether there are cost-effective, climate-friendly alternatives to traditional natural gas infrastructure investments. — JON CHESTO
BIOTECH
Moderna names a new CFO as it tests virus vaccine
Moderna Inc. named a new chief financial officer as the biotechnology’s coronavirus vaccine moved ahead in wider testing that will determine how safe and effective it is. David Meline, who served as Amgen Inc.’s CFO from 2014 to 2019, will take over the top finance role at the drug maker at pivotal moment. Not only is the company leading the race to develop a vaccine to prevent COVID-19 infections, it’s also come under scrutiny as executives have sold millions of dollars worth of the firm’s highly valued shares. — BLOOMBERG NEWS
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AUTOMOTIVE
Nissan recalls vehicles again over hood latches
For the fourth time, Nissan is recalling hundreds of thousands of midsize cars in the United States and Canada to fix a nagging latch problem that may allow the hood fly open while cars are moving. The latest recall covers nearly 1.9 million Altimas and includes cars from the 2013 through 2015 model years that were recalled earlier. It’s also been expanded to the 2016 through 2018 model years. Nissan has said previously that a coating can flake off the secondary hood latch, exposing bare metal. Over time, the metal can rust and cause the secondary latch to stay open. If the main latch isn’t closed and the cars are driven, the secondary latch may not hold the hood down as designed, Nissan said. — ASSOCIATED PRESS
MORTGAGES
Rates on 30-year loan up slightly
Long-term mortgage rates increased slightly as the US economy showed signs that the worst of the coronavirus-fueled recession may have passed. The average interest charged on a 30-year mortgage was 3.18 percent this week, up from 3.15 percent a week ago, according to a report Thursday by mortgage buyer Freddie Mac. That average is down from 3.82 percent a year ago. The average 15-year mortgage rate was unchanged from last week at 2.62 percent. This average has fallen from 3.28 percent a year ago. — ASSOCIATED PRESS
HOUSING
UnitedHealth invests $100m more in affordable housing
UnitedHealth Group Inc. is investing $100 million in affordable housing, bringing the health care giant’s total funding for the cause to $500 million since 2011, the company said. The money will go to nonprofit partners building more than 1,000 new homes for low-income renters over the next two years, with initial construction in the District of Columbia, Texas, and Oklahoma, the company said. The first units are expected to be ready in about six months. — BLOOMBERG NEWS
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CHEMICALS
Court blocks Bayer from selling herbicide appproved by EPA
Bayer is blocked from selling its controversial dicamba-based herbicide in the United States after an appeals court rejected a federal regulator’s permit for the product, compounding the German company’s weed-killer woes. The three-judge panel concluded the Environmental Protection Agency had ‘‘failed entirely’’ to acknowledge some risks dicamba poses and that the agency violated federal regulations when it extended its approval of registration for the herbicide for another two years in October 2018. The ruling means farmers who bought seeds to be used with dicamba for this year’s growing season may not be able to plant them, since pesticides can’t be sold or distributed in the United States without EPA registration. The decision is the latest blow to Bayer in the wake of its $63 billion takeover of Monsanto — a deal that made the German company a leader in agriculture products but also saddled it with a mountain of legal liabilities related to weed killers. — BLOOMBERG NEWS
E-COMMERCE
Amazon in talks to buy a piece of Indian wireless company
Amazon is in preliminary talks to buy a stake in No. 2 Indian carrier Bharti Airtel Ltd. for at least $2 billion, Reuters reported, joining Facebook and other US giants in betting on one of the world’s fastest-growing internet arenas. Amazon is in early-stage discussions to buy about a 5 percent stake in the Indian wireless operator, Reuters said, citing anonymous sources. A deal will help Amazon access Bharti’s 300 million subscribers — a user base akin to the entire US population. — BLOOMBERG NEWS
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INTERNET
eBay’s profit soars as online shopping does
EBay raised its forecast for revenue and earnings in the current quarter as people flock to the online marketplace amid the covid-19 pandemic that has left most physical stores shuttered for more than two months. EBay said it now expects sales of as much as $2.8 billion in the second quarter, up from a previous forecast for as much as $2.48 billion. In a filing the company said it sees adjusted earnings per share of as much as $1.06, up from 80 cents previously. More people are being drawn to eBay’s marketplace across a wide variety of categories, from home and garden to electronics, fashion, and auto parts, eBay said. — BLOOMBERG NEWS
FINANCE
Charles Schwab wins US approval to buy TD Ameritrade
Charles Schwab Corp. won US antitrust approval to buy rival TD Ameritrade Holding Corp., a $26 billion deal that further consolidates the brokerage industry. Schwab said Thursday that the Justice Department approved the deal, which the company expects to close in the second half of the year. The tie-up tightens Schwab’s grip on an industry it pioneered. The deal, which was announced in November, came after Schwab cut its trading commissions to zero, in a move that roiled the entire sector.
— BLOOMBERG NEWS
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INTERNATIONAL
Burberry, Rolls Royce got UK aid
The Bank of England identified for the first time 53 companies that received emergency funding to help them through the coronavirus pandemic and the list includes luxury brand Burberry and Rolls Royce. The program, which started in March and is financed from the BOE’s reserves, is currently providing companies with 16.2 billion pounds ($20.4 billion) of funding. — BLOOMBERG NEWS
