Top News & Analysis Massachusetts

  • Aug 29- Mondelez International Inc, the maker of Oreo cookies and Cadbury chocolates, said it was no longer pursuing the acquisition of Hershey Co, two months after the U.S. chocolate company turned down its $23 billion cash-and-stock bid. An unrelated row between the trust and the Pennsylvania Attorney General's office ensued over the trust's governance,...

  • BURLINGTON, Mass. _ Exa Corp. on Monday reported a loss of $678,000 in its fiscal second quarter. The Burlington, Massachusetts- based company said it had a loss of 5 cents per share. For the current quarter ending in November, Exa said it expects revenue in the range of $18.8 million to $19.6 million.

  • BOSTON, Aug 29- BlackRock Inc withheld support from two high-profile directors at Exxon Mobil Corp, securities filings show, a rare spat apparently driven by a board communications policy at the world's largest energy company. Because top fund managers like BlackRock rarely discuss their votes in detail, filings in late August to the U.S. Securities and...

  • NEW YORK— Banks led the stock market higher Monday as investors anticipate that the Federal Reserve could raise interest rates this year from their historically low levels. Federal Reserve Chair Janet Yellen told a conference last week that the case for raising rates was strengthening given improvements in the economy. Raising interest rates from their...

  • BOSTON— Part of the roof of a Boston duck boat was torn off after a driver failed to clear a bridge while out on a tour in the city. Fire officials say the Boston Duck Tours boat crashed into an overpass Sunday evening. Approximately 20 people were aboard the vehicle at the time.

  • HARTFORD, Conn.— Connecticut, Rhode Island and Massachusetts officials are joining with electric utilities to evaluate more than 50 solicitations from companies to build plants that would generate clean energy for all three states. "It's the first time the New England states have joined together in a coordinated procurement for clean resources," said Katie...

  • The Breakers Palm Beach resort in Palm Beach, Fla., is shown in this aerial view.

    A property once owned by Donald Trump is set to become Palm Beach's most expensive reconstruction project ever, The New York Times reports.

  • Aug 26- Carl Icahn said he did not attempt to sell his Herbalife Ltd stake, and had instead bought more shares in the health supplements maker, rejecting hedge fund manager Bill Ackman's claim that he had been offered some of Icahn's shares. "Completely contrary to what Bill Ackman stated on television today, I have never given Jefferies an order to sell any of our...

  • CANTON, Mass., Aug 26- The granddaughter of Viacom Inc's controlling shareholder Sumner Redstone has agreed to let a Massachusetts court dismiss claims brought by former company leaders, a step that will help end a battle over the fate of the media empire. Lawyers for Keryn Redstone said at a Massachusetts court hearing on Friday they have also agreed to mediate...

  • BOSTON, Aug 26- The granddaughter of Viacom Inc's controlling shareholder Sumner Redstone has agreed to let a Massachusetts court dismiss claims brought by former company leaders, a step that will help end a battle over the fate of the media empire.

  • CANTON, Mass., Aug 26- A Massachusetts judge on Friday told attorneys to see if they could agree to resolve at least parts of a lingering family dispute over the fate of the empire built by Sumner Redstone, the controlling shareholder of Viacom Inc.. Judge George Phelan gave the instruction before declaring a break in a hearing on Friday that is part of the ongoing...

  • Judge George Phelan made the remark during a hearing on Friday that is part of the ongoing legal saga over whether Redstone was mentally competent when he removed former Viacom CEO Philippe Dauman and board member George Abrams from a trust that will determine the fate of his media empire.

  • WASHINGTON, Aug 26- U.S. economic growth was slightly more tepid than initially thought in the second quarter as businesses aggressively ran down inventories, offsetting a spurt in consumer spending. Gross domestic product expanded at a 1.1 percent annual rate, the Commerce Department said on Friday in its second estimate of GDP. "The very slight downward...

  • *Approached to buy Herbalife shares- Ackman. Aug 26- Herbalife Ltd's biggest critic, hedge fund manager Bill Ackman, said he had been approached to buy shares in the nutritional supplements maker from billionaire investor Carl Icahn. Ackman, who has bet more than $1 billion against Herbalife, said on CNBC that Icahn's planned stake sale would accelerate the...

  • The U.S. Department of Education has banned the for-profit college chain ITT Educational Services from enrolling new students who use federal financial aid. The chain, based in Indiana, is still paying another $44 million demanded by the department in June for the same reason. Education Secretary John King said the government is taking action to protect...

  • CAMBRIDGE, Massachusetts— Harvard University says it's partnering with business titan Michael Bloomberg to provide leadership training to mayors across the U.S. Mayors invited to the program will gather in New York City for three days to learn from Harvard faculty and then continue the year-long program online. It will also create summer internships for...

  • CANTON, Mass. _ Destination XL Group Inc. on Thursday reported fiscal second-quarter net income of $199,000, after reporting a loss in the same period a year earlier. The Canton, Massachusetts- based company said it had profit of less than 1 cent on a per-share basis. Destination XL expects full-year revenue in the range of $457 million to $463 million.

  • SINGAPORE— The world's first self-driving taxis will be picking up passengers in Singapore starting Thursday. It will beat ride-hailing service Uber, which plans to offer rides in autonomous cars in Pittsburgh, by a few weeks. The ultimate goal, say nuTonomy officials, is to have a fully self-driving taxi fleet in Singapore by 2018, which will help sharply cut...

  • NEW YORK, Aug 24- A U.S. appeals court on Wednesday said cash-strapped Puerto Rico cannot force Wal-Mart Stores Inc's affiliate on the island to pay a special corporate tax that the retailer claimed was discriminatory and violated the U.S. The 1st U.S. Circuit Court of Appeals in Boston upheld a lower court order blocking Puerto Rico from imposing its...

  • NEW YORK, Aug 24- A U.S. appeals court on Wednesday said cash-strapped Puerto Rico cannot force Wal-Mart Stores Inc's affiliate on the island to pay a special corporate tax the retailer claimed was discriminatory and violated the U.S. The 1st U.S. Circuit Court of Appeals in Boston upheld a lower court order blocking Puerto Rico from imposing its alternative...