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Rhode Island is pitching McCoy Stadium as the PawSox decamp to Worcester


Rhode Island is pitching McCoy Stadium as the PawSox decamp to Worcester

Rhode Island officials have officially put the word out that they want proposals from individuals or companies interested in using or redeveloping McCoy Stadium in Pawtucket, potentially for a pro sports team that could replace the departing Pawtucket Red Sox. The PawSox are slated to move to Worcester in 2021, and city and state officials are eager to make sure the nearly 80-year-old ballpark, with seating for 10,000, doesn’t remain empty. The Rhode Island Commerce Corporation will be accepting proposals through April 25. As part of this request, state officials are also soliciting ideas for economic development opportunities for areas near McCoy and in downtown Pawtucket. — JON CHESTO



GE completes the sale of Current

General Electric has completed the sale of Current, the GE lighting business for commercial and industrial facilities, to private equity firm American Industrial Partners for an undisclosed sum. Under a long-term licensing agreement, Current will continue to use the GE brand on its products and services. The division, which doesn’t include GE’s consumer lighting business, is one of a long line of businesses that GE has decided to sell or spin off as part of an ambitious streamlining effort. Current CEO Maryrose Sylvester (left) will continue to lead Current, which employs 50 in Boston and about 2,500 globally. (Like GE, Current is based in Boston.) The business will continue to market itself as “Current, powered by GE” for a transitional period, but is expected to work with AIP to eventually rebrand the business name. — JON CHESTO


Vertex hires a new CFO

Vertex Pharmaceuticals has hired Charlie Wagner to be its new chief financial officer, after its last CFO was forced out because of unspecified “personal behavior.” The Boston-based drug maker terminated Ian Smith, the chief operating officer and interim CFO at the time, in January, citing behavior that violated the company’s code of conduct. Chief accounting officer Paul Silva became interim CFO at that point. Wagner joins Vertex on April 10 and will report directly to CEO Jeff Leiden. He joins Vertex from Ortho Clinical Diagnostics, a Carlyle Group-owned company where he was CFO. He has also been the top finance officer for Bruker, Progress Software, and Millipore. — JON CHESTO



Fusion raises $105m in latest funding round

OrbiMed Advisors LLC and medical-technology company Varian Medical Systems Inc. led a recent $105 million funding round for Boston-based Fusion Pharmaceuticals, which is developing a radiation therapy that seeks to destroy cancer cells from within. Fusion said on Tuesday that the series B financing also included investments from Perceptive Advisors, Pivotal bioVenture Partners, and Rock Springs Capital, bringing the total raised so far to $151 million. Fusion develops alpha-particle radiotherapeutics, an injection therapy that emits localized radiation within cancer cells rather than from outside the body. The alpha particles target small tumors, and the radiation is subsequently flushed out of the body in urine, resulting in little damage to other cells. — BLOOMBERG NEWS


Lyft continues to struggle post-IPO

Shares in ride-hailing company Lyft Inc. continued to struggle Tuesday, closing at $69.06, below its $72 public offering price. The slump is a worrying sign for other unicorns that plan to list this year. Lyft’s IPO was seen as a test case not just for rival Uber Technologies Inc. but for a glut of highly valued startups like Pinterest Inc., Postmates Inc., and Slack Technologies Inc. — BLOOMBERG NEWS


Goodwill looksto take on Amazon

Goodwill is setting its sights on a formidable rival for a charity thrift store: Amazon. The nonprofit’s New York-area organization has teamed up with Price.com to develop a browser add-on that alerts online shoppers at sites like Amazon.com and Walmart’s Jet.com when a product they’re looking to buy — say a mountain bike or a pair of shoes — is available on Goodwill’s website. Shoppers can then click a pop-up link to order the secondhand version shipped to them instead. — BLOOMBERG NEWS



Bank of America commits $5b over five years to low- and moderate-income buyers

Bank of America Corp. pledged to commit $5 billion over the next five years to its program aimed at home buyers with low to moderate incomes and multicultural households. The plan includes as much as $10,000 of assistance for down payments and one-off closing costs, as well as grants of as much as $7,500 for one-time costs such as title insurance and recording fees that don’t need to be repaid, Bank of America said in a statement Tuesday. “Down payment continues to be the main issue in achieving homeownership,’’ said D. Steve Boland, head of consumer lending at Bank of America. “There are a lot of creditworthy clients that are able to meet their monthly obligations,” and their biggest challenge is having the discretionary income to save up for large one-time costs, he said. The assistance program doesn’t reflect a reduction in credit standards because borrowers still have to meet debt-to-income metrics and other requirements, Boland said. — BLOOMBERG NEWS


Mickey and Minnie tangle with their union

The Teamsters’ top boss is trying to quell a rebellion by Mickey, Minnie, and their costumed friends. International Brotherhood of Teamsters general president James Hoffa ordered a hearing in Florida last weekend to determine whether leaders should be removed from the local Teamsters union that represents costumed character-performers, truck drivers, and other workers at Walt Disney World. Accusing the local leadership of ‘‘horrible misrepresentation,’’ hundreds of costumed character-performers have threatened to leave the union, prompting Hoffa to call Saturday’s daylong hearing, which drew scores of local members. A panel of Teamsters officials who heard the testimony now have up to two months to decide whether to recommend removing Local 385’s leadership. — ASSOCIATED PRESS



Walmart and Google team up for grocery shopping

Walmart Inc. will let customers order groceries by voice through Google’s smart-home assistant, an attempt to counter Amazon.com’s growing clout in e-commerce. Beginning this month, Walmart shoppers can add items directly to their online shopping carts by saying ‘‘Hey Google, talk to Walmart.’’ Information from prior purchases will help identify the correct brand and size — like whether you drink 1 percent or skim milk — without having to specify, according to Tom Ward, Walmart’s senior vice president of digital operations. In a blog post Tuesday, he said customers can tweak their orders at home or from their smartphones while on the go. The voice-shopping service comes out of a partnership between the two companies that began in August 2017, one of several alliances Walmart has made in recent years with technology companies. — BLOOMBERG NEWS


Shkreli in solitary for allegedly running drug company from prison

Pharmaceutical honcho Martin Shkreli has been banished to solitary confinement amid allegations he was running his drug company from federal prison using a contraband smartphone. A person familiar with the matter told the Associated Press that the man known as ‘‘Pharma Bro’’ was moved to solitary confinement at the New Jersey facility on March 7 and will likely remain there while his alleged conduct is being investigated. The US Bureau of Prisons told the AP on March 8 that it was investigating whether Shkreli violated rules forbidding inmates from conducting business and possessing cellphones. — ASSOCIATED PRESS