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Top News & Analysis Boston

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  • BOSTON— The University of Massachusetts and seven labor unions have reached an agreement to pay $10.9 million in retroactive pay to faculty and staff. UMass President Martin Meehan and the unions announced the deal on Thursday. UMass spokesman Robert Connolly says if the funds aren't appropriated, the university will be forced to make mid-year cuts.

  • BOSTON— Horse track operators and breeders are concerned the good times might be trotting to a close. Some states are looking to rein in a lucrative subsidy that's helped prop up their long-suffering industry. But industry experts say lawmakers in West Virginia, Iowa, Indiana, Delaware and elsewhere are pushing changes as their states face budget deficits and...

  • Those who remain bullish on China's long-run economic prospects have switched more of their focus to the Hong Kong market because valuations are lower, it is better regulated, and less prone to the whims of officials in Beijing than the mainland markets in Shanghai and Shenzhen. Those include betting against the currencies of Asian trading partners, and...

  • NEW YORK, Sept 3- An $80 billion portfolio managed by hedge fund titan Ray Dalio's Bridgewater Associates and widely held by many pension funds slumped in August and some investors blame the strategy of such funds for the eruption in volatility that slammed stocks and commodities. Bridgewater's "All Weather Fund" fell 4.2 percent in August and is down 3.76...

  • BOSTON— One day after federal regulators said they were stepping up oversight of Massachusetts' only nuclear power plant, Gov. About a dozen Pilgrim opponents delivered a letter at the Statehouse, asking Baker to seek the immediate closure and decommissioning of "a dangerous and error prone facility." Baker was not at the Statehouse at the time.

  • US Muslims hope new billboards reclaim Islam's message Thursday, 3 Sep 2015 | 12:05 AM ET

    The New York- based Islamic Circle of North America has erected 100 billboards over the summer that feature statements such as: "Muhammad believed in peace, social justice, women's rights" and "Muhammad always taught love, not hate; peace, not violence." They are in cities including Boston; New York; Phoenix; San Diego; El Paso and Austin, Texas; Memphis, Tennessee;...

  • Fears the China growth woes could knock the global economy have spread turmoil in world financial markets, toppling the benchmark MSCI Asia Pacific ex- Japan index 16 percent this year. But the turbulence hides opportunities, some funds say, with Credit Suisse estimating net selling in emerging Asia ex- China reached a whopping $19.8 billion in the three months...

  • "There were a series of events that really call into question confidence in pricing and execution," said Larry Glazer, a managing partner at Mayflower Advisors, which oversees $2 billion in assets in Boston. Unlike rival State Street, which operates one global platform to calculate fund prices, BNY Mellon has five different systems, partly the result of...

  • BOSTON— Federal inspectors said Wednesday they're increasing their oversight of the Pilgrim Nuclear Power Station in the wake of a shutdown during a winter storm. Officials from the Nuclear Regulatory Commission say the decision to ramp up inspections at the Entergy- owned plant in Plymouth follows the shutdown in January and involves the facility's...

  • Fed report shows autos and housing fueling US growth Wednesday, 2 Sep 2015 | 2:00 PM ET

    WASHINGTON— While U.S. housing and auto sales showed strength over the summer, manufacturers were feeling pressure from China's economic slowdown and the oil industry was squeezed by lower energy prices. One of the Fed's regions— Cleveland— reported only slight growth. The recent stock market turbulence, triggered by worries about China's slowdown, has led...

  • The research released Wednesday by Boston- based Rapid7 Inc. looks at nine baby monitors made by eight different companies. "There's a certain leap of faith you're taking with your child when you use one of these," says Mark Stanislav, a senior security consultant at Rapid7 and one of the report's authors. The Rapid7 researchers found serious security problems...

  • Costs were driven in large part by a surge in the number of people enrolled in the state's Medicaid program, known as MassHealth, which saw a spending increase of 19 percent. The increase was attributed to an expansion of Medicaid eligibility under the federal Affordable Care Act, as well as the breakdown of Massachusetts' health connector website, which forced...

  • BOSTON— The state's attorney general cleared the way on Wednesday for supporters of more than 20 proposed ballot questions, including ones calling for the legalization of recreational marijuana use, to proceed with efforts to place the measures before Massachusetts voters next year. Among a handful rejected by Healey was one that sought to legalize the sale...

  • 7-Eleven expands deliveries, but Slurpees not included Tuesday, 1 Sep 2015 | 12:26 PM ET

    Customers in Chicago, Los Angeles and parts of New York can order other items from the convenience store chain, including chicken wings, cold medicine and paper towels. Stores in Washington D.C. and Boston will offer delivery in the coming months, the companies said, and more cities are planned. McDonald's, Chipotle and Starbucks are working with delivery company...

  • Comcast teeing up new services targeted at millennials Tuesday, 1 Sep 2015 | 11:30 AM ET

    NEW YORK— Comcast, which became a TV powerhouse by signing up Generation Xers, baby boomers and their parents, now is fighting for millennial eyeballs. The TV giant is investing in online media outlets like BuzzFeed and Vox that attract young viewers. It's setting up a streaming TV service for millennials who don't watch a boob tube.

  • The 72nd Venice Film Festival opens Wednesday, followed later in September by movie extravaganzas in Toronto, Telluride and New York. Venice, the oldest and stateliest of the bunch, brings 11 days of red carpets, flashbulbs, parties and premieres to the canal-crossed Italian city. This year's festival opens with Baltasar Kormakur's thriller "Everest," which...

  • BOSTON— The newest classroom at Harvard's business school has no desks or chairs. Here, Harvard sought to create a live, online replica of its campus classrooms. At a recent test of the technology, alumni connected to the room from Thailand, New Zealand and the Philippines.

  • Boston mayor, city councilors seek hefty pay raises Monday, 31 Aug 2015 | 2:22 PM ET

    BOSTON— Boston's mayor and City Council are again looking for pay raises that could make them among the best compensated of comparable cities across the country. Mayor Marty Walsh filed a proposal Monday giving his office a $24,000 raise to $199,000 a year. Not to be outdone, City Council President Bill Linehan proposed to boost pay on the 13- member panel by...

  • BOSTON/ NEW YORK, Aug 31- U.S. fund managers want less involvement from officials in China in the country's volatile stock markets, even if it means their portfolios take hits in the short run. The head of hedge fund manager Man Group Plc's China business has been taken into custody to help authorities in a probe into recent market volatility, Bloomberg reported on...

  • NEW YORK— The Titanic's last lunch menu— saved by a passenger who climbed aboard the so-called "Money Boat" before the ocean liner went down— is going to auction, where it's estimated it will bring $50,000 to $70,000. The online New York auctioneer Lion Heart Autographs is offering the menu and two other previously unknown artifacts from Lifeboat 1 on Sept. 30.