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Massachusetts

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  • Man gets 18 months for Subway cash register hacks Friday, 21 Nov 2014 | 5:21 PM ET

    BOSTON— A federal judge has sentenced a California man to 18 months in prison for hacking into computerized cash registers at Subway sandwich shops and stealing more than $40,000 in gift cards. District Judge Richard Stearns also sentenced 46- year-old Shahin Abdollahi of Lake Elsinore, California, to two years of supervised release and ordered him to pay...

  • U.S. spectrum auction raises more than $30 billion Friday, 21 Nov 2014 | 4:55 PM ET

    WASHINGTON, Nov 21- Total bidding in the U.S. airwaves auction of so-called AWS-3 frequencies has surpassed $30 billion on Friday, according to the Federal Communications Commission, far exceeding expectations just over a week after bidding began. The most obvious beneficiary of the surge in bids is satellite TV mogul Charlie Ergen's Dish Network Corp, whose...

  • Regulators set deadlines for final casino license Friday, 21 Nov 2014 | 1:42 PM ET

    BOSTON— Gambling regulators have set new application deadlines for Massachusetts' third and final resort casino license. The Massachusetts Gaming Commission announced Friday that initial applications for the southeastern region, which is centered on Fall River and New Bedford, will be due Jan. 30. To date, the commission has received just one initial...

  • New York Fed chief on defensive on bank oversight Friday, 21 Nov 2014 | 1:34 PM ET

    William Dudley, president of the New York Fed, insisted at a Senate hearing Friday that "our eyes are open" and regulators are fair, unbiased and rigorous in their oversight of the biggest U.S. banks. "Of course we are not perfect, but we always strive to improve and retain your trust," Dudley said at the hearing, which focused on whether the Federal Reserve has too cozy of a...

  • TV-over-Internet service Aereo seeks Chapter 11 Friday, 21 Nov 2014 | 1:05 PM ET

    The Supreme Court ruled this summer that Aereo had been operating like a cable TV company, meaning that unless it paid broadcasters licensing fees, it was in violation of copyright law. The company got its start in New York and had expanded to about 10 other metropolitan areas, including Boston, Houston and Atlanta, though it never disclosed how many subscribers...

  • NYC man gets prison for role in cybercrime ring Friday, 21 Nov 2014 | 1:04 PM ET

    TRENTON, N.J.— A New York City man was sentenced Friday to more than three years in prison for his role in an international cybercrime ring that prosecutors say hacked into the computers of more than a dozen financial institutions and the U.S. military's payroll service. Richard Gundersen received a 41- month prison term and was ordered to pay $88 million in...

  • WASHINGTON, Nov 21- New York Federal Reserve Bank President William Dudley came under fire on Friday from Democratic senators who blasted the bank for lax oversight of major financial institutions. I think the evidence suggests that there is, "said Massachusetts Democrat Elizabeth Warren, a frequent critic of the big banks who is seen as a possible 2016...

  • Desaulniers named AP's New England media director Friday, 21 Nov 2014 | 1:01 PM ET

    BOSTON— Dwayne Desaulniers, a former business and technology director for The Associated Press, has been named the news cooperative's director of local media for New England. "Dwayne brings a great mix of news, technology and entrepreneurial experience to our New England market, as well as an in-depth understanding of AP services and our mission to inform the...

  • Rail study outlines costs, benefits of expansion Friday, 21 Nov 2014 | 9:59 AM ET

    NASHUA, N.H.— New Hampshire would get more bang for its buck by bringing passenger rail service beyond Nashua to Manchester, according to a preliminary feasibility study, but state officials aren't ready to recommend an option. That option envisions 16 trains daily from Manchester and at least 20 from Nashua. The study estimates that the state's annual cost to...

  • Destination XL posts 3Q loss Friday, 21 Nov 2014 | 7:12 AM ET

    CANTON, Mass. _ Destination XL Group Inc. on Friday reported a loss of $6.3 million in its fiscal third quarter. The Canton, Massachusetts- based company said it had a loss of 13 cents per share. Destination XL expects full-year results to range from a loss of 16 cents per share to a loss of 12 cents per share, with revenue in the range of $413 million to $418 million.

  • Mohegan Sun chief executive set to retire in 2015 Friday, 21 Nov 2014 | 5:31 AM ET

    UNCASVILLE, Conn.— Mitchell Etess, chief executive of the Mohegan Tribal Gaming Authority, says he plans to retire next year, but will stay on in a transition. He said he'll remain with the parent company of the Mohegan Sun casinos in Connecticut and Pennsylvania beyond the end of his contract on June 30, 2015. The Mohegan Sun failed to get a foothold in Massachusetts...

  • WASHINGTON, Nov 21- Keith Higgins, who runs the office that reviews public companies' books at the U.S. Securities and Exchange Commission, reported stock holdings worth between about $2 million and $6 million last year and the sale of stocks throughout 2014, according to SEC disclosures viewed by Reuters. Since the beginning of the year, he has reported about 60...

  • Kozy Shack recalls some puddings over labeling Thursday, 20 Nov 2014 | 9:02 PM ET

    ARDEN HILLS, Minn.— Pudding maker Kozy Shack Enterprises is recalling some of its puddings because they are not labeled as containing milk. The product was distributed to 20 states— Connecticut, Florida, Georgia, Illinois, Iowa, Kansas, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Virginia, West...

  • New Media to buy Worcester Telegram & Gazette Thursday, 20 Nov 2014 | 8:07 PM ET

    WORCESTER, Mass.— The Worcester Telegram& Gazette is changing hands for the second time in recent months as New Media Investment Group Inc. acquires its parent Halifax Media Group. New Media's subsidiary GateHouse Media LLC operates several eastern Massachusetts dailies and the Providence Journal in Rhode Island. Halifax bought the T&G in May from Boston...

  • NEW YORK, Nov 21- Big money to the Fed: You're going nowhere next year. Add in the risk of a recession in Europe, renewed recession in Japan and disappointing growth in China, and it all adds up to "later, lower, longer," says Prudential Investment's Greg Peters, effectively summing up the Fed outlook from the buy side. Peters, who oversees more than $534 billion of fixed...

  • UPDATE 1-Hertz Global names John Tague as CEO Thursday, 20 Nov 2014 | 5:52 PM ET

    Nov 20- U.S. car rental company Hertz Global Holdings Inc named John Tague as chief executive, overlooking a candidate put forward by activist investor Jana Partners. Hertz had formed a search committee including two independent directors nominated by Icahn to find a replacement for Mark Frissora, who resigned in September. The Committee and the Board...

  • China immediately denied the charges, saying in a strongly worded Foreign Ministry statement the U.S. grand jury indictment was "made up" and would damage trust between the two nations. The indictment was the first criminal hacking charge that the United States has filed against specific foreign officials, and follows a steady increase in public criticism and...

  • MGM, Wynn to take on $1 billion debt for projects Thursday, 20 Nov 2014 | 3:47 PM ET

    MGM Resorts International and Wynn Resorts Ltd. disclosed their plans in separate financial filings with federal regulators. MGM Resorts said it planned to issue $1 billion in notes due in 2023 to pay for a variety of costs including the construction of its $800 million MGM Springfield project in Massachusetts and $1.2 billion MGM National Harbor...

  • Polls: Employers still prioritize health coverage Thursday, 20 Nov 2014 | 3:17 PM ET

    A poll from The Associated Press-NORC Center for Public Affairs Research found that companies that offer health insurance see it as a key tool to attract workers and keep them on the job. A separate survey from the benefits consultant Mercer found that only 4 percent of all large employers say they will likely drop their employee health plans within the next...

  • NEW YORK, Nov 20- Boston Scientific Corp was ordered Thursday to pay $18.5 million for injuries caused by transvaginal mesh devices, a plaintiffs' lawyer said, in the third courtroom loss for the company over the products. Jurors also said Boston Scientific had acted with "gross negligence" and awarded each woman $1 million in punitive damages, Monsour said.