Legislation filed to expand BCEC and put the Hynes on the market

The Hynes Convention Center in Boston.
The Hynes Convention Center in Boston.Jonathan Wiggs/Globe Staff/Globe Staff


Legislation filed to expand BCEC and put the Hynes on the market

Senator Nick Collins and Representative David Biele have filed legislation to expand the Boston Convention & Exhibition Center in South Boston and to put the Hynes Convention Center in the Back Bay on the market. The two South Boston lawmakers filed the bill on behalf of Governor Charlie Baker, who unveiled plans in September to advance a scaled-back, $500 million expansion of the BCEC that would be funded in large part through the sale or long-term lease of the Hynes property. Baker would like to see a nearly 500,000-square-foot addition, compared to a 1.3-million-square foot expansion that was planned before he took office and put the process on hold in 2015. The bill would allow the Massachusetts Convention Center Authority, which controls both facilities, to proceed with the BCEC expansion and the Hynes disposition. The bill also calls for the transfer of 12 surplus acres behind the BCEC to the City of Boston. — JON CHESTO


Blue Cross, Southcoast Health reach deal on four-year pact

Blue Cross Blue Shield of Massachusetts and Southcoast Health have reached a four-year contract agreement, avoiding a disruption of care for tens of thousands of patients in the South Coast region. The insurer and the hospital system had been engaged in a dispute about payment rates, which they took public last month. Southcoast officials accused Blue Cross of refusing to offer fair reimbursements, while Blue Cross officials argued that Southcoast wanted unreasonably large pay increases. The existing contract between Blue Cross and Southcoast — which includes Charlton Memorial Hospital in Fall River and St. Luke’s Hospital in New Bedford — was set to expire at the end of the year. The companies declined to share details of their new agreement. In a joint statement, they said: “The contract reflects both the urgency to address rising health care costs while providing the necessary resources required by Southcoast Health to continue investing in its clinicians, technology, and innovative services.” — PRIYANKA DAYAL MCCLUSKEY



Fidelity is the latest to cut ties with Fisher over his lewd comments

Fidelity Investments is pulling the $500 million it has invested with Ken Fisher’s investment firm, according to people familiar with the matter. The move by the mutual fund giant is part of a growing exodus of big clients after vulgar comments made by Fisher at an industry conference. Fidelity’s divestment brings the total yanked from Fisher Investments to more than $1.8 billion. Fisher Investments is seeing an intensifying backlash since the firm’s founder made offensive comments about women, spoke of genitalia, and then failed to immediately understand the gravity of his words. Fidelity joins pensions in Iowa, Michigan, Boston, and Philadelphia that have divested their money. — BLOOMBERG NEWS



Women face barriers in economics

Hostility and discrimination await women daring to encroach upon the male-dominated world of economics and central banking, according to papers presented at a European Central Bank conference on Monday. Among the presentations in Frankfurt, a study presented by Northeastern University’s Alicia Modestino coded interactions between speakers and their audiences at several hundred economics seminars. It showed that female speakers have a greater share of their seminar time taken up by audience members, and are more likely to be asked hostile questions. — BLOOMBERG NEWS


Faux-sausage sandwich comes to more than 9,000 Dunkin’ stores in early November

Beyond Meat Inc., the faux-meat maker that’s become a Wall Street darling, is announcing one of its biggest restaurant roll outs yet. A sandwich featuring the company’s plant-based sausage will arrive in more than 9,000 US Dunkin’ stores beginning Nov. 6, the companies said Monday. The nationwide launch follows a successful trial run in Manhattan’s 163 locations over the past three months. Its main competitor, Impossible Foods, snagged a big win earlier this year when its plant-based Whopper landed in some 7,000 US Burger Kings. But the real prize — a spot on McDonald’s Corp.’s US menu — is still anyone’s game. — BLOOMBERG NEWS



company plans to alter cement to cut down on emissions

A tiny French cement company sold shares on the Paris exchange with a big promise: to shake up global production and reduce carbon emissions. Hoffmann Green Cement Technologies pitched to investors a “disruptive” manufacturing process based on changing the composition of cement so that it no longer contains clinker, the main source of carbon-dioxide emissions. This helps to lower the carbon footprint by a factor of five, the company says. Cement makers are responsible for about 7 percent of world carbon emissions, more than all the trucks on the road. — BLOOMBERG NEWS


Owner of Saks Fifth Avenue to be taken private

Hudson’s Bay, the owner of Saks Fifth Avenue, is being taken private by a group of its shareholders that will try to revive the department store chain. The deal, which is expected to close later this year or early next year, comes as Hudson’s Bay, like many other retailers, struggles amid shifting consumer behavior. Shoppers are buying more online, and they’re looking to buy used designer goods and embracing rental services like Rent the Runway. Hudson’s Bay has been selling businesses, including Lord & Taylor and some European operations. The Canadian company has about 300 stores, including its namesake Hudson’s Bay. — ASSOCIATED PRESS



Coty may sell unit that makes Clairol and OPI

Coty Inc., under pressure to turn its business around, is considering a sale of its professional hair and nail products unit that includes the brands Wella, Clairol, and OPI. The shares surged the most in more than five months. The cosmetics company has hired Credit Suisse to help it explore its options for the professional business, which sells to salons and is expected to make $2.7 billion in sales this year. It’s also looking at a sale of its Brazilian operations and expects a review to be completed by next summer, according to a statement issued Monday. — BLOOMBERG NEWS


Maine to hold lotteries for scallop harvest

Maine is holding lotteries for licenses to participate in one of the most lucrative fisheries in the state. The state is home to a near-shore scallop fishery that was worth about $6 million last year. The volume of the fishery is much smaller than Maine’s famous lobster fishery, but the scallops are typically worth more to fishermen on a per-pound basis. The Maine Department of Marine Resources says there will be two license lotteries. One will be for six licenses to operate a drag boat for scallops, and the other will be for four licenses to dive for scallops. Most scallops in the state are harvested via boat. The state says the lottery applications are open now and will remain open until 4:30 p.m. on Nov. 8. — ASSOCIATED PRESS


US spawned most new millionaires

The United States minted more than half the world’s new millionaires last year as investments in equities and tech stocks propelled assets higher. The world’s wealthiest country accounted for 675,000 new millionaires, according to Credit Suisse Group’s Global Wealth Report. Japan and China contributed the second- and third-most, according to calculations based on US dollars. — BLOOMBERG NEWS