Facebook CEO Mark Zuckerberg admits mistakes, outlines fixes

In a lengthy Facebook post, Mark Zuckerberg admitted mistakes and outlined steps to protect user data in light of a recent privacy scandal involving Cambridge Analytica.

Federal Reserve chairman Jerome Powell spoke Wednesday about the latest increase in interest rates.

Evan Horowitz | Quick Study

As the Fed keeps raising rates, consumers will start to feel the effects

The Fed’s moves will push up the cost of mortgages, car payments, government debt, student loans, and even credit card borrowing.

A shopper entered one of the old mall KB Toys stores, in Norridge, Ill., to take advantage of a store-closing sale. The dormant brand may be relaunched.

Entrepreneur plots comeback for KB Toys chain

Ellia Kassoff wants to be the person who saves the toy industry. And he wants to do it by bringing KB Toys back from the dead.

Decision on short-term rental rules put on hold

City officials say they need more time to develop regulations for Airbnb and other online platforms.

Latest Business headlines

Fed raises key rate and foresees 2 more hikes this year

The Federal Reserve is signaling confidence in the US economy’s durability but plans to continue a gradual approach to rate hikes for 2018.

Google is said to work on blockchain-related technology

Google is looking to head off competition from emerging startups that use the heavily-hyped technology, according to people familiar with the situation.

Trump readying $50b of tariffs on China

The president is reported to be considering targeting more than 100 different types of Chinese goods.

Lexington nursing home to close

Excel Center for Nursing and Rehabilitation in Lexington received state approval last week to shut down in May, and to lay off 110 employees. It is the latest in a string of nursing home closures across the region in recent months.

Stocks wobble and end the day lower after Fed raises interest rates

After a jittery afternoon of trading, major US stock indexes fell Wednesday, while smaller companies fared better.


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//c.o0bg.com/rf/image_90x90/Boston/2011-2020/2017/05/11/BostonGlobe.com/Business/Images/gamechangershoriz-6383.jpg 51 bright ideas and breakthroughs for 2017

In a revolutionary place like Boston, innovators and innovations are as common as bad drivers. See who made our annual list.


//c.o0bg.com/rf/image_90x90/Boston/2011-2020/2018/03/21/BostonGlobe.com/National/Images/Jack%20Hogan.jpg In Boston, the anxious launch of a gene therapy with a record price

Luxturna is a gene therapy for a rare, inherited retina disease that carries a list price of $850,000.

More Business headlines

Business agenda

Mortgage rates, a fireside chat, and other events and things to know.

A protester left this poster depicting Alexander Nix, CEO of the political consulting firm Cambridge Analytica, outside of his office in London.

Cambridge Analytica suspends CEO after data scandal; FTC probing Facebook

The Federal Trade Commission has opened an investigation into whether Facebook violated an agreement on data privacy.

Gene therapy with record sticker price launched

A single-eye dose of Luxurna costs $425,000 and Tuesday, 13-year-old Jack Hogan became the first person to receive the treatment in a surgery done at Mass. Eye and Ear.

Jerome Powell.

Fed raises key interest rate by a quarter-point

The Federal Reserve is raising its benchmark interest rate and signaling that it is sticking with a gradual approach to rate hikes under its new chairman, Jerome Powell.

Steve Wynn spoke to reporters about the planned casino in Everett in 2016.

Steve Wynn looks to sell shares in his former company

Steve Wynn plans to potentially sell all his stock in the casino operator, a month after he resigned over sexual assault and harassment allegations.

Facebook CEO Mark Zuckerberg walked at the company's headquarters in Menlo Park, Calif.

Hiawatha Bray

How to use Facebook without giving up your data

A one-day boycott would starve Facebook of the personal information that sustains its multi-billion dollar business.

Jackie Robinson’s number 42 is displayed next to Yawkey Station. Sox owner John Henry (left) wants to change the name of Yawkey Way.

Shirley Leung

No winners in Yawkey Way street fight

The dispute over Tom Yawkey’s legacy exposes how hard it is for our city to move beyond its racist past.

Vas Narasimhan, CEO of Novartis, center, spoke during the general assembly of Swiss Pharma group Novartis, at the St. Jakobshalle in Basel, Switzerland, earlier this month.

Novartis sales reps will testify about lavish meals, US says

Prosecutors said numerous representatives for the Swiss company will testify they plied doctors with meals, booze, and other benefits in exchange for promises to prescribe Novartis drugs.

Stock mostly rise, but Facebook sinks again

Stock indexes finished mostly higher after a day of bouncing around Tuesday.

Business agenda

A mini conference for female entrepreneurs, speaker sessions, and other events and things to know.

The Food and Drug Administration issued a call Tuesday for more information about flavored tobacco products, with the aim of preventing children and young people from getting hooked on nicotine.

US regulators renew scrutiny of menthol, tobacco flavors

The Food and Drug Administration issued a call Tuesday for more information about flavored tobacco products, with the aim of preventing young people from getting hooked on nicotine.

NuTonomy is one of two companies experimenting with self-driving vehicle technology in Boston.

Walsh wants self-driving car regulations amid Seaport testing pause

Mayor Walsh called for clear regulations to govern the fledgling technology after the death of a pedestrian hit by a self-driving Uber car in Tempe, Ariz.

The Google logo at the company's Asia-Pacific headquarters in Singapore, on Nov. 10, 2016. MUST CREDIT: Bloomberg photo by Ore Huiying.

Google announces plan to combat spread of misinformation

The internet giant has pledged to spend $300 million over the next three years to support authoritative journalism.

FILE - In this March 15, 2013, file photo, a Facebook employee walks past a sign at Facebook headquarters in Menlo Park, Calif. The San Jose Mercury News reports Saturday, March 17, 2018 that building permits compiled by Buildzoom show Facebook plans to erect the 465,000 square-foot (43,200 square-meter) building at its campus in Menlo Park, Calif. (AP Photo/Jeff Chiu, File)

FTC investigating Facebook in use of personal data by Cambridge Analytica

The Federal Trade Commission has opened an investigation into whether Facebook violated an agreement with the agency on data privacy.

The now-infamous company Cambridge Analytica takes its name  from the University of Cambridge in England (bottom), not the city in Massachusetts that is home to Harvard University (top).

No, Cambridge Analytica is not a local company

The “Cambridge” in this case refers to the storied college in England.

United Airlines said it will halt PetSafe reservations while it reviews the service, which lets customers ship pets as cargo.

United Airlines suspends new reservations for pets in cargo hold

United Airlines is pausing its pet-shipping business after mishaps that include a dog winding up in Japan instead of Kansas.

Total household debt now stands at about 79 percent of household income. That's well above the 60 to 70 percent rates of the pre-bubble years.

Evan Horowitz | Quick Study

With financial crisis a distant memory, Americans load up on debt again

We are borrowing more and saving less. — and with interest rates set to rise, that could be a problem.

Harvey Weinstein’s scandal-plagued movie studio files for bankruptcy

The Weinstein Co. has filed for bankruptcy protection with a buyout offer in hand from a private equity firm.

Cambridge Analytica's chief executive officer Alexander Nix

Cambridge Analytica CEO appears to talk about election bribes, sex workers on video

The broadcast sparked a fresh round of questions about a company already embroiled in controversy.

15robotdog - the SpotMini robot from Boston Dynamics (Boston Dynamics)

Jeff Bezos and the futuristic dog-robot from Boston Dynamics step out

The Amazon chief executive took a stroll with a futuristic version of man’s best friend.

Facebook security chief quits amid conflicts with executives

Alex Stamos had been a strong advocate inside the company for investigating and disclosing Russian activity on Facebook.

Alexander Nix is the chief executive of Cambridge Analytica.

Hiawatha Bray | Tech Lab

Facebook’s mentality: anything for a buck

A political research firm linked to the Trump campaign may have improperly accessed user data, but Facebook should not have allowed it to happen.

Daily print sales of the Herald have fallen to roughly 45,000 from 300,000-plus in 1994.

Digital First Media completes acquisition of Herald, ending 24 years of local ownership

Digital First edged out rival GateHouse Media last month with a nearly $12 million bid in a bankruptcy auction.

(FILES) In this file photo taken on December 28, 2016 A picture taken on December 28, 2016 in Vertou, western France, shows logos of US online social media and social networking service Facebook. Cambridge Analytica is a private company for strategic communication and data analysis at the heart of a scandal over the use of personal data collected on Facebook. A subsidiary of Strategic Communications Laboratories (SCL), Cambridge Analytica (CA) has offices in New York, Washington and London and is directed by Alexander Nix. / AFP PHOTO / LOIC VENANCELOIC VENANCE/AFP/Getty Images

Facebook security chief quits amid conflicts with executives

Alex Stamos had been a strong advocate inside the company for investigating and disclosing Russian activity on Facebook.

Business agenda

Networking, tech startup strategies and other events and things to know.

Data storage beyond the clouds: Wasabi promises a super-secure system in space

In space, no one can steal your data.

Claire’s, the teen jewelry chain, files for Chapter 11 bankruptcy protection

For four decades Claire’s has been a fixture at malls and shopping centers, piercing the ears of millions of teenagers.

Want to avoid the flu while flying? Here’s what experts say you should do

The advice comes out of a new attempt to determine the risks of catching germs on an airplane.

Paul Ayoub is the new chairman of the Greater Boston Chamber of Commerce.


Chamber’s new leader has big goals, but lots of help

Paul Ayoub has his work cut out for him at the Greater Boston Chamber of Commerce.

A still image taken from video provided by ABC-15 showed investigators at the scene of a fatal accident involving a self-driving Uber car and a woman crossing a street, who may have been walking with a bicycle, in Tempe, Ariz.

Woman struck and killed by self-driving Uber vehicle

A self-driving Uber vehicle struck and killed a pedestrian in a Phoenix suburb in the first fatality involving a fully autonomous test vehicle.

Facebook drags technology companies down as stocks slide

Facebook plunged to its worst loss in four years Monday and led a rout in technology companies.

Watchdog group says researcher who worked on Aegerion drug didn’t disclose taxpayer funding

A group says an Ivy League professor who helped invent Juxtapid never disclosed taxpayers’ role in his work when he obtained six patents, as required by law.

Walsh wants City Council to delay vote on rules for short-term rentals

Councilors could vote as soon as Wednesday on rules to rein in the city’s booming short-term rental industry. But Mayor Walsh would rather they didn’t.

FILE - In this May 16, 2012, file photo, the Facebook logo is displayed on an iPad in Philadelphia. Facebook suspended Cambridge Analytica, a data-analysis firm that worked for President Donald Trump's 2016 campaign, over allegations that it held onto improperly obtained user data after telling Facebook it had deleted the information. (AP Photo/Matt Rourke, File)

Facebook and other tech stocks plunge as US indexes skid

A sharp loss for Facebook is dragging technology companies lower Monday as US stock indexes skid.

Here’s what you need to know about MassHousing’s zero down-payment program

A step-by-step guide to figuring out whether you qualify.

Facebook CEO Mark Zuckerberg.

Mark Zuckerberg’s fortune falls $3.8b over Facebook data exploitation

The Facebook CEO’s fortune dropped $3.8 billion Monday as investors weighed reports that a political firm retained information on millions of Facebook users without consent.

A woman exits a Claire's store in New York.

Claire’s, known for tween jewelry, becomes latest retail bankruptcy

Its plan to survive rests on its reputation and a unique service that it says can’t be replicated by shopping online: ear piercing.

The Amazon Go store in Seattle keeps track of what shoppers pick up and charges them after they leave — that is, if Amazon can get them to simply walk out of the store without paying.

Amazon had trouble getting people to simply walk out of its cashier-less store

“People would stop at the end on their first trip or two and ask, ‘Is it really OK if I just leave?’’’ said Gianna Puerini, vice president of Amazon Go.

121nexus Executive Vice President and COO Heather Ryan.

In wake of #MeToo, a growing interest in hiring and promoting female executives

As the #MeToo movement and public outcry about the treatment of women spreads, corporate America is slowly responding.

For many, the prospects of being able to buy a home in the Boston area are slim.

New MassHousing mortgage program requires no down payment

A new MassHousing program would let qualifying homebuyers finance their entire purchase.

The National Highway Traffic Safety Administration has opened an investigation into a series of deadly crashes in which airbags in Hyundai and Kia cars failed to inflate. Above: The interior of a Hyundai Veloster.

Federal officials probe air bag failures in deadly wrecks

Air bags failed to inflate in some Hyundai and Kia vehicles during crashes. Four people have died.

Tech Lab by Hiawatha Bray


Bray writes about technology for the Business section. His Tech Lab column appears on Thursdays.

Shirley Leung


Leung writes a business column every Wednesday and Friday. Previously she served six years as the business editor overseeing daily and Sunday coverage.