Stephen Blyth will take over from Jane Mendillo in January as CEO of the unit overseeing Harvard University's $36.4 billion endowment.» Read More
The usual autumn decline of the price of gasoline is getting an assist from lower global oil prices. Up to 30 states could see an average price below $3 a gallon by the end of the year. Source: AAA, OPIS and Wright Express.
WASHINGTON— More than a dozen U.S. senators from both parties are calling on the Obama administration to broaden a Medicaid program for the nation's frailest seniors, calling it a proven alternative to pricier nursing home care as states seek to limit long-term medical costs.
CAMBRIDGE, Mass.— Harvard University is turning to an insider to manage its largest-in-the nation endowment. The university has announced that Stephen Blyth will take over as president and chief executive officer of Harvard Management Co., which oversees the $34.6 billion endowment. Blyth takes over from Jane Mendillo on Jan. 1.
PROVIDENCE, R.I.— The Newport City Council has rejected an agreement with developers of a proposed full-fledged casino at Newport Grand that would have provided an additional $1 million payment to the city. The community agreement would have given preference to Newport residents for hiring and to Newport vendors for purchases of goods and services.
TOKYO, Sept 25- The Japanese government has ended its investigation of a January 2013 battery incident aboard a Boeing Co 787 Dreamliner jet without specifying the cause of the battery's overheating, the Japan Transport Safety Board said on its website.
BOSTON, Sept 24- Harvard University on Wednesday named an insider, Stephen Blyth, to run its $36.4 billion endowment, the world's largest. The financial services industry veteran holds a statistics PhD from Harvard, and has taught the subject there.
NEW YORK— Shares of Citizens Financial Group rose on their first day of trading joining a broader rally in the markets. The bank, based in Providence, Rhode Island, is the U.S. banking unit of The Royal Bank of Scotland Group. The stock, listed on the New York Stock Exchange under the symbol "CFG," rose $1.58 to close at $23.08.
"This is welcome news in an otherwise mixed outlook," said Diane Swonk, chief economist at Mesirow Financial in Chicago. New home sales jumped 18.0 percent to a seasonally adjusted annual rate of 504,000 units, a second straight monthly gain that took them to the highest level since May 2008, the Commerce Department said on Wednesday.
SAN FRANCISCO— A national marijuana advocacy group took steps Wednesday to begin raising money for a campaign to legalize recreational pot use in California in 2016, a move with potential to add a dose of extra excitement to the presidential election year.
The stock for the U.S. banking unit of The Royal Bank of Scotland Group gained $1.58, or 7.4 percent, to $23.08 Wednesday while the broader markets had their best day in more than a month. Citizens Financial Group raised about $3 billion in an initial public offering of 140 million shares.
Shares of Merrimack Pharmaceuticals Inc. jumped Wednesday after the drugmaker said it could receive more than $900 million through a collaboration with Baxter International Inc. over its potential pancreatic cancer treatment.
CAMBRIDGE, Mass.— Harvard University's largest-in-the-nation endowment grew to $36.4 billion in the fiscal year that ended in June on a 15.4 percent return, the university agency that's oversees the endowment announced.
NEW YORK— Acorda Therapeutics Inc. plans to buy privately-held Civitas Therapeutics for $525 million in cash as the drugmaker seeks to expand into treatments for Parkinson's disease. Acorda, based in Ardsley, New York, makes drugs for patients with multiple sclerosis, spasticity and those who are experiencing pain after a shingles infection.
Margaret Hamburg, who has led the agency since 2009. The FDA has been under fire from public health advocates, politicians and law enforcement officials since last October, when it approved a powerful new painkiller called Zohydro against the recommendation of its own medical advisers.
NEW YORK— Millennial Media Inc., a mobile advertising company, said Tuesday that it plans buy privately-held Nexage for about $107.5 million in cash and stock to broaden its offerings to clients. Millennial Media said it will pay about $22.5 million in cash and about $85 million in stock for Nexage.
The Waltham- based Massachusetts Association of Realtors reports Tuesday that it was the seventh consecutive month of year-over-year sales decreases. The Boston- based Warren Group reported a 2 percent median price increase.
BOSTON— The first television advertisement in the campaign to preserve the state's developing casino industry was unveiled Tuesday by MGM Resorts and its supporters in Springfield, the economically struggling western Massachusetts city where it is planning an $800 million resort.
ALMHULT, Sweden Sept 23- Having redesigned kitchens, bathrooms and sitting rooms around the world, IKEA has decided to redesign itself.
Thousands more are expected to pack New York's Times Square to watch his address in Hindi on big screens as well as smaller viewing parties around the country and on TV in India. The Indian diaspora hopes this visit by a leader who was until recently barred from the United States will signify India's importance not only on these shores but in wider the world too.
OMAHA, Nebraska— A Virgin America flight traveling from Boston to Los Angeles made an emergency landing in Nebraska on Monday, officials said. The Federal Aviation Administration said the Virgin America flight made the unscheduled landing Monday morning at Omaha's Eppley Airfield following a medical emergency on board.