New director for health care monitoring agency

The Baker administration said Thursday that Ray A. Campbell III will serve as executive director of the agency responsible for monitoring the state’s health care industry. Campbell will take over Aug. 1 at the Center for Health Information and Analysis, or CHIA. He will replace Aron Boros, who previously announced that he would step down to pursue other opportunities. Boros left the agency on Thursday. Campbell is currently acting executive director at the Group Insurance Commission, the state agency that administers health benefits to public employees. He will begin at CHIA at a challenging time. The state agency is set to lose $45 million from its budget over the next five years. CHIA collects and analyzes health care industry data, including insurance claims and hospital financials. Campbell’s appointment was jointly announced by Governor Charlie Baker, Attorney General Maura Healey, and Auditor Suzanne M. Bump. — PRIYANKA DAYAL McCLUSKEY



Pfizer to expand operations in Andover

Drug maker Pfizer Inc. broke ground Thursday on a new 175,000-square-foot building that will expand its biomanufacturing operations in Andover. The five-story site, which the company is scheduled to open by 2019, will produce biotech drugs and vaccines. Pfizer is expected to add 75 jobs to the 1,200 already at its seven-building Andover campus. The campus already includes a manufacturing plant, which makes multiple drugs for commercial sale and clinical trials, as well as offices and labs. Among the products Pfizer manufactures in Andover are the hemophilia B treatment BeneFix and Prevnar 13, a vaccine to prevent diseases caused by the Streptococcus bacteria in infants and toddlers. The company, which has a total of about 2,000 employees in Massachusetts, also runs a research and development center outside Kendall Square in Cambridge. — ROBERT WEISMAN


RCN to expand in Boston

Two months after Verizon Communications Inc. said it will install a new cable television and Internet service in Boston, RCN Corp. said it’s planning to expand its cable footprint in the city. RCN, which provides cable TV service in about 20 percent of Boston, has begun offering service to 5,000 more homes and businesses near Dorchester Avenue, Neponset Avenue, and Gallivan Boulevard in Dorchester. RCN Boston general manager Jeff Carlson said his company hopes to add service to other Boston neighborhoods, but does not expect to provide service to the entire city. Carlson also said that his company began planning the expansion before Verizon announced its plan to begin building a Boston network this summer. RCN entered the Boston market as an alternative wireline telephone company. It began offering cable service in Boston in 1997, but while rival Comcast Corp. wired the entire city, RCN never finished the job. The company filed for bankruptcy in 2004, and has since been acquired by a private equity firm, Abry Partners. — HIAWATHA BRAY



Southwest to update its uniforms

Sonya Lacore has wanted to see an update of Southwest’s uniforms since she began working as a flight attendant 15 years ago. She’ll finally get her wish next year, when the carrier completes the first overhaul of its work attire since 1996. The two-year effort was overseen by Lacore, now Southwest’s vice president of cabin services, and involved more than 40 workers from all uniform-wearing employee groups. The change follows a rebranding of the airline in 2014 that included a new paint scheme on its planes, amid an ongoing push to attract more business travelers. The new, dressier uniforms might even help that corporate goal, although the projects are not related. The old uniforms, which include collared shirts, khaki shorts, and white crew socks, will be replaced with a more modern look. — BLOOMBERG



Rates fall for second week

Long-term US mortgage rates fell this week for a second straight week amid continued global economic concerns. Mortgage buyer Freddie Mac said Thursday the average 30-year fixed-rate mortgage dipped to 3.54 percent from 3.60 percent last week. That is well below its level a year ago of 4.00 percent. The average rate on 15-year fixed-rate mortgages declined to 2.81 percent from 2.87 percent. Deepening doubt about the strength of the US economy and concern that Britons could vote to leave the European Union in a referendum next week are stoking the malaise. — ASSOCIATED PRESS


Strike averted at Macy’s in New York

Macy’s and the union representing thousands of its workers in the New York City area reached a tentative deal for a new labor contract Thursday, avoiding what would have been the first strike at the nation’s largest department store in more than 40 years. The president of the union hailed the four-year agreement as a “major victory” that included “substantial wage increases,” a more affordable health care plan, and new scheduling rules that would not require employees to work on holidays, including Thanksgiving and Christmas. — NEW YORK TIMES


Pimco cuts jobs as assets under management fall

Pacific Investment Management Co. plans to cut its workforce by 68 people, or about 3 percent, and offer buyouts as assets under management have fallen since the September 2014 departure of Bill Gross, according to a memo obtained by Bloomberg. Gross, who co-founded the firm in 1971 and built Pimco Total Return into the world’s biggest mutual fund at its peak, left abruptly in 2014. Pimco’s $1.5 trillion in assets under management are down 25 percent from their $2 trillion peak in the first quarter of 2013. — BLOOMBERG



Revlon to buy Elizabeth Arden

Revlon Inc. said Thursday it is buying Elizabeth Arden Inc. for about $419.3 million in cash, a deal uniting two well-known names in the world of beauty and cosmetics. The New York company is paying $14 for each Elizabeth Arden share, a premium of 50 percent over their closing price Thursday. The companies value the deal at $870 million including debt. Company founder Elizabeth Arden opened her first Red Door salon on New York’s Fifth Avenue in 1910. The company, now based in Miramar, Fla., sells skin-care and fragrance products in 120 countries. It was in the midst of trying to turn its business around and posted a loss of $28.4 million on revenue of $191.9 million in its most recent quarter. Revlon was founded in 1932 with the launch of nail enamel. — ASSOCIATED PRESS


Provision benefiting New Balance survives last-minute attack

A provision to require the military to provide American-made sneakers to personnel upon arrival at basic training has survived an attempt by a South Carolina lawmaker to remove it. The House approved the defense spending bill on Thursday after the provision survived a late challenge led by Representative Mark Sanford, a South Carolina Republican. Supporters led by Republican Representative Bruce Poliquin of Maine and Democratic Representative Niki Tsongas (left) of Massachusetts prevailed. The provision applies the Berry Amendment to athletic shoes. That amendment requires the Defense Department to give preference to home-grown products. The provision benefits Boston-based New Balance, which employs 900 people at three Maine factories. — ASSOCIATED PRESS