Look who's finally leaving the roost. Millennials are starting to move out of their parents' houses, opting to rent in many cases.» Read More
Alibaba's long-awaited IPO is finally around the corner, making this a good time to take a look at just how an IPO works.
NEW YORK, Sept 17- U.S. stocks were rising in mid-afternoon trading on Wednesday after the U.S. The statement "is largely the same, but the dots are more hawkish, the exit strategy itself being out there is more hawkish and the timing of the first rate also more hawkish," said John Canally, investment strategist and economist for LPL Financial in Boston.
It opened its first flagship store in New York City's chic Soho neighborhood in 2006. With the addition this week of a new location in Wayne, New Jersey, the company- owned by the world's fourth-largest fashion retailer, Fast Retailing Co- now operates 26 U.S. stores.
NEW YORK— Shares of Civitas Solutions are inching lower after the company's initial public offering priced at $198.9 million, below its expectations. The Boston company says its offering of 11.7 million shares priced at $17 a share, below its estimates of $20 to $23 per share. Shares of Civitas Solutions Inc. lost 25 cents to $16.75 Wednesday morning.
BOSTON— Wynn Resorts and Massachusetts gambling regulators finalized the license Wednesday for a $1.6 billion casino outside Boston. Wynn brings a track record of success in competitive gambling jurisdictions, including Las Vegas and Asia, said James McHugh, acting commissioner of the Massachusetts Gaming Commission.
Sept 17- Twenty-two partners have jumped ship en masse from Bingham McCutchen's marquee restructuring practice, raising questions about the fate of the law firm's closely watched merger talks with the larger Morgan Lewis& Bockius.
BOSTON— The co-owner of a now-defunct foreign currency trading company has been sentenced to nine years in prison for defrauding investors out of more than $30 million.
Magnit sells local produce, has a CEO who meets with investors, and targets ordinary Russians. Fund investor concerns about Russia have led to some selling of Magnit lately, and fund managers warn that small investors might find the risks of investing in Magnit too big.
Alibaba risk: China's rise leaves out investors. WASHINGTON— American investors are clamoring to buy a stake in Chinese e-commerce giant Alibaba, which is launching what may prove the biggest initial public stock offering ever. IPOs, according to research by Jay Ritter, a finance professor at the University of Florida.
DETROIT, Sept 16- An expert witness hand-picked by the federal judge overseeing Detroit's historic bankruptcy case will testify on the feasibility of the city's debt adjustment plan without restrictions, the judge ruled on Tuesday.
TRENTON, N.J.— New Jersey has sold its pension fund investment in a venture capital firm that has connections to a Massachusetts gubernatorial candidate.
BOSTON— Wynn Resorts has bested Mohegan Sun for the lucrative Boston- area casino license, based largely on the strength of its $1.6 billion project's economic development potential.
Sept 16- Shares of Atlantic Power Corp fell by about a third on Tuesday after the struggling utility removed its chief executive and decided against selling itself.
The heightened rhetoric comes as Chicago tries to recover millions in health care costs from opioid drugmakers, alleging that companies deliberately misled the public about the risks of their drugs.
NEW YORK, Sept 16- Bank of America Corp gave up about $6 billion in annual revenue by phasing out risky consumer banking products and eliminating certain fees, but the long-term impact on profits should be minimal, a top executive said on Tuesday.
BOSTON— An energy company is seeking federal approval for a natural gas pipeline through northern Massachusetts that has already garnered significant local opposition. Houston- based Kinder Morgan Inc. filed a request with the Federal Energy Regulatory Commission on Monday.
HARTFORD, Conn.— Radio host Ira Flatow and his "Science Friday" show that airs on many National Public Radio stations have agreed to pay nearly $146,000 to settle civil claims that they misused money from a $1 million grant from the National Science Foundation, federal officials said Tuesday.
Sept 16- Struggling power producer Atlantic Power Corp asked its chief executive to leave and slashed its dividend by 70 percent after ending discussions about selling itself. Atlantic Power's U.S.-listed shares fell more than 20 percent premarket on Tuesday.
William Delahunt told a meeting of The Patriot Ledger's editorial board on Monday that he resigned from Medical Marijuana of Massachusetts, the nonprofit that wanted to open dispensaries in Plymouth, Taunton and Mashpee. He said he likely would have resigned even if Medical Marijuana of Massachusetts had been granted licenses.
Sept 16- Power producer Atlantic Power Corp slashed its dividend by 70 percent and asked its chief executive to step down as part of a strategic review process. The company said it appointed Ken Hartwick, director of the board, as a replacement for Barry Welch. Atlantic Power cut its annual dividend to 12 Canadian cents per share from 40 Canadian cents.