Talking Points

TALKING POINTS

Apartment/condo building proposed for Readville

DEVELOPMENT

Apartment/condo building proposed for Readville

A developer on Thursday filed initial plans for a large apartment and condo building in the Readville section of Hyde Park. Boston-based Ad Meloria hopes to build 305 units — a mix of rental and for-sale housing — in two buildings on a 2.5-acre site near the Readville commuter rail station, according to a preliminary filing with the Boston Planning & Development Agency. It plans to submit more detailed plans and launch a formal BPDA review in October. In its Imagine Boston 2030 master plan, the Walsh administration circled Readville as one of several “expanded neighborhoods” where the city could grow, calling for more light industrial development and mixed-use projects, including housing, around commuter rail stations there. But another even larger housing development there has faced pushback from neighbors concerned about traffic and other impacts; it was recently scaled back somewhat by its developers. — TIM LOGAN

INDUSTRY

GE continues selling off businesses

General Electric continues to jettison businesses as CEO John Flannery tries to focus the sprawling industrial conglomerate and boost its profitability. The latest to go: Baltimore-based MRA Systems, which makes aircraft engine parts. Singapore Technologies Engineering is picking it up in a deal valued at $630 million. The sale is expected to close by March, assuming all the regulatory approvals go through. This is one small piece of Flannery’s efforts to divest at least $20 billion worth of business lines from Boston-based GE. — JON CHESTO

AUTOMOTIVE

Volkswagen to stop making the Beetle

Volkswagen said it will stop making its iconic Beetle in July of next year. Volkswagen of America on Thursday announced the end of production of the third-generation Beetle by introducing two final special editions. The Beetle was developed in Nazi Germany in 1938 and came to the United States 11 years later. It sold for about 30 years before production ceased. The company revived it in 1998 and revamped it for the 2012 model year in an effort to help it attract more male buyers. The car got a flatter roof, less bulbous shape, a bigger trunk, and a navigation system. Volkswagen of America didn’t rule out bringing the bug back in the future but said it has no plans at this time. — ASSOCIATED PRESS

RIDE HAILING

Four Danish drivers fined for working for Uber

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Denmark’s top court has confirmed that four drivers should be fined for working for Uber in the Scandinavian country, paving the way for some 1,500 other Uber drivers to be prosecuted for illegally operating taxis. The Supreme Court confirmed Friday lower courts’ rulings fining the men, who were not named. The lowest fine of 40,000 kroner ($6,223) was slapped on the driver of 399 rides, the highest of 486,500 kroner ($75,700) for the driver of 5,427 rides. Danish prosecutors had put on hold some 1,500 other similar cases while they waited for the Supreme Court ruling. The drivers did not have licenses to operate a taxi, as was required even of Uber drivers. Denmark introduced a law in February 2017 that required taxi drivers to have seat occupancy sensors and meters, leading Uber to shut down its services in Denmark. — ASSOCIATED PRESS

TECHNOLOGY

In video, Google executives lament Trump election

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A recently leaked video from 2016 shows Google executives lamenting the election of Donald Trump, who has accused the company of doctoring search results for his name. The video, posted on the Breitbart website, shows Google cofounder Sergey Brin (left) saying the elevation of Trump was not consistent with what the company stands for. During what was clearly an emotional and companywide meeting, Google executives also extolled democratic values. Breitbart said the video was provided by an anonymous source. Google said Thursday in a prepared statement that some workers and executives expressed their own views at the 2016 meeting — which is what has occurred at the regularly scheduled meetings for more than 20 years. ‘‘Nothing was said at that meeting, or any other meeting, to suggest that any political bias ever influences the way we build or operate our products,’’ the company said. Last month, Trump accused Google Inc. and other US tech companies of rigging search results about him. — ASSOCIATED PRESS

MORTGAGES

Rates at highest level since
early August

Long-term mortgage rates this week jumped to their highest level since the start of August, raising costs for would-be home buyers. Mortgage buyer Freddie Mac said Thursday that the average rate on 30-year, fixed-rate mortgages climbed to 4.60 percent from 4.54 percent last week. The average rate has surged from 3.78 percent a year ago, posting the largest annual gain since May 2014. The average rate on 15-year, fixed-rate loans rose to 4.06 percent this week from 3.99 percent last week. — ASSOCIATED PRESS

RETAIL

Target to hire 120,000 for holidays

Target plans to hire more than 120,000 people for the busy holiday shopping season, a 20 percent increase from last year. The retailer said the temporary hires will stock store shelves and ring up purchases at the registers. In addition, it plans to hire 7,500 people to pack online orders at its warehouses. Target said it will pay workers $12 an hour, a dollar more an hour than last year. United Parcel Service Inc. said it plans to hire 100,000 people for the holidays, when the rising volume of online shopping hits its peak. That’s up about 5,000 from last year, when the Atlanta company scrambled after underestimating holiday shipments and wound up spending an extra $125 million to fix delays. Rival FedEx Corp. plans to hire 55,000 temporary workers, a slight increase over last year, for what it expects to be a record-breaking Christmas season. — ASSOCIATED PRESS

AUTOMOTIVE

GM recalling more than 1 million pickups and SUVs

General Motors is recalling more than a million big pickup trucks and SUVs in the United States because of power-assisted steering problems that have been cited in a number of accidents. GM said the power steering can fail momentarily during a voltage drop and suddenly return, mainly during low-speed turns. Such a failure increases the risk of a crash. The company said it has 30 reports of crashes with two injuries, but no deaths. The recall covers certain 2015 Chevrolet Silverado and GMC Sierra 1500 pickups as well as Chevy Tahoe and Suburban SUVs. Also affected are 2015 Cadillac Escalade and GMC Yukon SUVs. Dealers will update the power steering software at no cost to owners. No date has been set to notify customers, but GM said the software is available now, so owners can contact dealers to schedule repairs. — ASSOCIATED PRESS

CONSUMERS

Prices rose 2.7%
in August

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Consumer prices rose 2.7 percent in August from a year earlier, with higher housing and gasoline costs driving most of the increase. The Labor Department said Thursday that the consumer price index advanced 0.2 percent on a monthly basis. Despite the monthly gain, annual inflation softened from the 2.9 percent pace set during the 12 months ended in July. — ASSOCIATED PRESS

TRANSPORTATION

Battery-operated train launched
in Germany

Bombardier Inc. launched a battery-run train in Germany this week, the first of its kind to enter passenger services in Europe for more than 60 years. The “electric hybrid” train is the latest of its kind to debut in Germany, which is offering federal development aid for projects that may speed up electrification of the rail network. Diesel locomotives still run on 40 percent of Germany’s railroads, and the government in Berlin has set an ambitious plan to make the network pollution-free by 2030. — BLOOMBERG NEWS

INTERNATIONAL

Turkey’s
central bank raises rates

Turkey’s central bank sharply raised interest rates Thursday, a dramatic increase aimed at curbing inflation and a decline in the country’s currency, but one that the Turkish president had long resisted. The move, increasing Turkey’s benchmark interest rate to 24 percent from 17.75 percent, quickly helped the Turkish lira strengthen against the dollar. The currency dropped to record lows earlier in the summer on investor concern that inflation was accelerating and that President Recep Tayyip Erdogan was taking too active a role in the management of the economy. — NEW YORK TIMES