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 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.
WASHINGTON— Amtrak suspended service from Washington to Philadelphia on Tuesday after a freight train knocked down overhead wires on the tracks. The Northeast Regional takes passengers from Washington to Philadelphia, while the Acela Express provides service to Wilmington, Delaware, which is on the way to Philadelphia.
GULF OF THE FARALLONES NATIONAL MARINE SANCTUARY— Federal researchers are exploring several underwater sites where ships sank while navigating in the treacherous waters west of San Francisco in the decades following the Gold Rush.
Sept 15- The California Public Employees' Retirement System, the largest U.S. pension fund, said on Monday that it will pull all $4 billion it has invested in hedge funds because it finds them too costly and complicated.
Sept 15- Epirus Biopharmaceuticals Inc said India's drug regulator has approved its copy of a top-selling arthritis treatment, paving the way for its launch in the country early next year.
BOSTON— The state's highest court has thrown out a lawsuit aimed at blocking Tesla Motors from selling its upscale electric cars directly to consumers. The Massachusetts State Automobile Dealers Association had sought to prevent the direct sales, citing a state law designed to block car dealers from abuses by car manufacturers.
BOSTON— Supermarket chains are launching a television ad campaign to try to persuade voters to reject a ballot question that would expand Massachusetts' bottle deposit law to include bottled water and other non-carbonated beverages.
BOSTON— The price of a gallon of gasoline in Massachusetts has dropped another 2 cents, but still lags behind the national average. AAA Southern New England reports Monday that self-serve, regular is now selling for an average of $3.43 per gallon, which is 4 cents more than the national average.
The total AUM of emerging market funds tracked by the Boston- based EPFR Global consultancy had risen to $1.4 trillion from $900 million before the Lehman crisis, it added. While these amounts are dwarfed by the AUM of funds dedicated to the United States or Europe, they are large relative to emerging stock and bond markets.