State Street president pulls out of Saudi business conference


State Street president pulls out of Saudi business conference

State Street Corp. president Ron O’Hanley has pulled out of the Saudi business conference known as the Future Investment Initiative that begins on Oct. 23. A State Street spokesman confirmed the decision on Thursday, not long after US Treasury Secretary Steve Mnuchin also decided to bail, arguably the most high-profile withdrawal from the conference in
Riyadh. A number of financial executives have exited amid questions about the disappearance and alleged murder of dissident journalist Jamal Khashoggi; Turkish officials blame the columnist’s death on a Saudi security team. O’Hanley was among several prominent Boston-area executives who had been scheduled to speak. Bain Capital co-chairman Steve Pagliuca was also on the list, but decided not to go a few days ago. — JON CHESTO



Maine student says Dunkin’ Donuts refused service to her and her Somali family

A Maine college student says a Dunkin’ Donuts worker refused her family service for speaking Somali and called the police. Twenty-year-old Hamdia Ahmed told The Portland Press Herald the incident happened Monday when she and her family visited a Dunkin’ Donuts location in Portland. Ahmed says she and her family were waiting in the drive-through and speaking Somali to each other when a worker told them to ‘‘stop yelling,’’ and said they must leave and she was calling police. Ahmed says an officer arrived and issued her a no-trespass order for causing a ‘‘disturbance.’’ She says the owner of the store apologized and a corporate Dunkin’ Donuts representative also apologized. — ASSOCIATED PRESS


Rates dip a bit

Long-term mortgage rates dipped slightly this week, taking a pause after weeks of steady increases stoked by rising interest rates. Home borrowing rates remain at their highest levels in more than seven years, with the key 30-year rate approaching 5 percent. Mortgage buyer Freddie Mac said Thursday the rate on 30-year, fixed-rate mortgages declined to an average 4.85 percent this week from 4.90 percent last week. The average rate on 15-year, fixed-rate loans eased to 4.26 percent this week from 4.29 percent last week.



London’s iconic black cabs to be seen in Paris next year

London’s black cabs will be seen on the streets of Paris next year as the company that makes them begins selling them in the City of Light. London Electric Vehicle Co., which makes plug-in electric taxis that look like traditional black cabs, has put about 600 vehicles on the streets of London and has already expanded to Amsterdam, Berlin, Hamburg and Oslo. The move into Paris comes as Mayor Anne Hidalgo aggressively works to improve air quality in the city. — ASSOCIATED PRESS


Amgen buys stake in British company

Amgen Inc. is buying a $66 million stake in Oxford Nanopore Technologies Ltd., whose small, portable DNA sequencer has made it a darling of UK genetics work. Oxford Nanopore makes a range of genetic-sequencing technologies but it’s best known for the MinION, a pocket-sized sequencer that for $1,000 gives scientists the ability to study life essentially in real time — and has sequenced genes in destinations as far-flung as space. Earlier this month, the company released the MinIT, a tiny data-analysis tool that makes the MinION more portable and powerful. — BLOOMBERG NEWS


Novartis buys company that owns experimental prostate cancer drug

One year ago, a German company called ABX sold the rights to a prostate cancer treatment for $12 million. On Thursday, Novartis AG agreed to pay almost 200 times that amount for the drug’s current owner, Endocyte Inc. The experimental therapy is the centerpiece of Novartis’s $2.1 billion planned takeover of US-based Endocyte. It pairs tumor-killing radiation with molecules that target diseased cells, and Novartis chief executive Vas Narasimhan says it has blockbuster potential. — BLOOMBERG NEWS



WeWork and Rent the Runway team up

Renting office space at WeWork Cos.? Soon you’ll be able to rent clothes there too. Rent the Runway Inc. is opening a network of clothing drop-off boxes in 15 WeWork locations across the United States. They will be placed in the lobbies of the co-working spaces, making them accessible for both the general public and those who work in the offices. The boxes were previously only available at Rent the Runway’s five physical stores. — BLOOMBERG NEWS


Pollock painting bought for $306 could sell for $18m

A small Jackson Pollock painting originally purchased for $306 in 1950 by Nelson Rockefeller may fetch $18 million next month, when a struggling Brazilian museum puts it on the auction block. “Number 16” will be the top lot of the 20th century and contemporary art evening sale at Phillips on Nov. 15 in New York. The seller is Museu de Arte Moderna do Rio de Janeiro, which received the drip painting in 1952 as a gift from Rockefeller, a scion of the family that helped establish New York’s Museum of Modern Art. — BLOOMBERG NEWS


Kleenex to rename ‘Mansize’ tissues in United Kingdom

Kleenex will re-brand its “Mansize’’ tissues after consumers complained the name was sexist — touching off a social media conversation about what’s in a name. The company behind Kleenex, Kimberly-Clark, said Thursday that the product, which is sold only in the United Kingdom, will now be called ‘‘Kleenex Extra Large.’’ Packages for the tissues describe them as ‘‘confidently strong’’ and ‘‘comfortingly soft.’’ Kimberly-Clark is not the first company to run into a branding issue forced by changing social views. Among the more memorable casualties was stationery maker BiC, which ran into disparaging comments when trying to market pink and purple pens ‘‘for her.’’ Amazon was flooded by reviews poking fun at the strategy and the notion that it was ‘‘designed to fit comfortably in a woman’s hand.’’ In another example, the British grocery chain Waitrose on Thursday said it will be changing the name of its Gentleman’s Smoked Chicken Caesar Roll because of complaints the name was sexist. — ASSOCIATED PRESS



Facebook apologizes for showing baby product ads to woman whose child was stillborn

Facebook Inc. is facing criticism in the United Kingdom after it continued to show ads for baby products to a woman who’d posted on the site that the baby she had been expecting was stillborn. Anna England-Kerr said that after sharing the news on the social network, she continued to see ads for cribs, baby blankets, and bottles, and more recently IVF treatments, despite changing settings on Facebook that should have blocked such appearances. A Facebook spokesman said in a statement that the company had discovered a bug and an issue with its machine learning models in the Hide Ad Topics feature that England-Kerr had tried to use. England-Kerr said she received a call on Wednesday from Nicola Mendelsohn, Facebook’s vice president for the EMEA region. She said the executive had expressed her condolences, “and that she was very sorry about how using Facebook had made me feel in the wake of her death.” — BLOOMBERG NEWS