Top News & Analysis Massachusetts

  • *Apple boosts tech stocks; Micron leads gains in chipmakers. *Biogen plunges after Alzheimer's drug trial scrapped. NEW YORK, March 21- An Apple-led tech rally pushed Wall Street higher on Thursday as jitters over the Federal Reserve's forecast of an economic slowdown were calmed by upbeat economic data.

  • NEW YORK, March 20- A gauge of stocks across the world fell on Wednesday as a boost from a dovish Federal Reserve was not enough to offset concerns over economic growth and U.S.- China trade talks. Sterling fell after British Prime Minister Theresa May said she was not prepared to delay Brexit further than June 30. Strong support from the Fed could mean the economy...

  • BOSTON, March 20- Lyft Inc executives are focused on cutting insurance costs and will phase in self-driving vehicles on simple routes first, they said at a road show for investors ahead of the ride-hailing company's initial public offering set for next week. Reducing insurance costs is "the number one initiative," said Chief Financial Officer Brian Roberts at a...

  • BOSTON, March 20- Lyft Inc executives are focused on cutting insurance costs and will phase in self-driving vehicles on simple routes first, they said at a road show for investors ahead of the ride-hailing company's initial public offering set for next week. Reducing insurance costs is "the number one initiative," said Chief Financial Officer Brian Roberts at a...

  • *Pound falls after Britain's May requests Brexit delay. NEW YORK, March 20- The U.S. dollar fell sharply against a basket of major currencies on Wednesday, after the Federal Reserve held U.S. interest rates steady and its policymakers abandoned projections for further rate hikes this year as the central bank flagged an expected slowdown in the economy.

  • NEW YORK, March 19- Lyft Inc's initial public offering is oversubscribed based on commitments made so far by investors, making it more likely that the ride-hailing startup will fetch or even exceed the $23 billion valuation it is seeking, people familiar with the matter said on Tuesday. Lyft started its IPO road show on Monday and has spent the last two days...

  • March 18- Lyft Inc kicked off the investor road show for its initial public offering on Monday, targeting a valuation of up to $23 billion and seeking to woo money managers before larger ride-hailing rival Uber Technologies Inc goes public in April. The market rally of the last few years, however, coupled with the desire of some of the startups' insiders to cash out,...

  • Prosecutors said he paid $200,000 to the scheme's accused mastermind, William "Rick" Singer, to arrange for people to take the SAT admissions test for his two sons. Some 50 people including prominent executives, Hollywood actresses Lori Loughlin and Felicity Huffman and college coaches have been charged in the scheme. Prosecutors say Singer made some $25...

  • Litt is the founder of hedge fund Land& Buildings Investment Management LLC, which owned a 0.03 percent stake in Marriott as of Dec. 31. Land& Buildings in recent weeks has privately urged Marriott to consider culling its 30 brands to better align itself with competitors such as Hilton Worldwide Holdings Inc, the Wall Street Journal had reported...

  • David Sidoo, who was temporarily replaced as CEO by the company's board of directors on Thursday, is due to appear in Boston federal court to be charged with paying $200,000 to the scam's accused mastermind, William "Rick" Singer, to arrange for people to take the SAT admissions test for his two sons. Some 50 people including prominent executives, Hollywood actors...

  • But revenues have fallen short of forecasts by half, leaving Louisiana with a gap in financing for a $50 billion plan for projects to raise levees, build flood gates, widen evacuation routes and protect its eroding coastline. The stakes are particularly high for Louisiana, which has lost about 2,000 square miles of land over the last century because of...

  • Wellington Management Company LLP's decision last month to speak out against drug maker Bristol-Myers Squibb Co's proposed $74 billion acquisition of Celgene Corp, calling what would be the largest-ever pharmaceutical takeover too risky and expensive, sent ripples across the investment world. This is because these tactics have typically been the...

  • March 14- Advantage Lithium Corp said on Thursday it has temporarily replaced Chief Executive David Sidoo as he battles U.S. fraud charges connected to a sweeping college admissions scandal. Sidoo, 59, was arrested last Friday and charged with conspiracy to commit fraud for allegedly paying $200,000 to the scam's accused mastermind, William "Rick" Singer, to...

  • Bank of America, in early 2018, had decided to open more than 500 new branches across the United States by 2021.. Chase said it will also hire up to 700 employees in the markets, which include Charlotte, North Carolina; Minneapolis, Minnesota; and Pittsburgh, Pennsylvania, from this summer. The company will also open some of these branches in the cities of...

  • March 10- U.S. construction and building materials supplier GCP Applied Technologies Inc is nearing a deal over the composition of its board with activist hedge fund Starboard Value LP, people familiar with the matter said on Sunday. The agreement would come after Starboard amassed a 4.6 percent stake in GCP and put forward five nominees to stand for election...

  • The same model flown by Lion Air crashed off the coast of Indonesia in October, killing all 189 on board. There are still unanswered questions about the causes of the Lion Air crash, and officials and safety experts said it was too soon to draw links with the Ethiopian incident. Boeing's shares lost 12 percent in the weeks following the Lion Air crash, but have more...

  • CHICAGO, March 10- A fatal crash in Ethiopia on Sunday involving an updated version of Boeing Co's best-selling 737 is putting the spotlight back on the aircraft just five months after another deadly crash involving another brand-new model of the same type in Indonesia. A Nairobi- bound Boeing 737 MAX 8 operated by Ethiopian Airlines crashed minutes after...

  • March 8- OxyContin maker Purdue Pharma LP and two other drugmakers on Friday lost a bid to delay a landmark trial set for May in a multibillion-dollar lawsuit by Oklahoma's attorney general accusing them of helping fuel an opioid abuse and overdose epidemic in the state. Cleveland County District Judge Thad Balkman's decision was a win for the state, even as one...

  • March 8- OxyContin maker Purdue Pharma LP and two other drugmakers on Friday lost a bid to delay a landmark trial set for May in a lawsuit by Oklahoma's attorney general accusing them of helping fuel an opioid abuse and overdose epidemic in the state. Cleveland County District Judge Thad Balkman's decision was a win for the state, even as one of its lawyers said...

  • AMSTERDAM, March 8- In a radiation-proof room at the Erasmus Medical Center in Rotterdam, Emar Thomasa sits behind shielded glass as he carefully measures and mixes lutetium octreotate, an intravenous treatment for certain types of cancer. Drug firm Novartis, which in 2018 acquired rights to sell it in Europe, is asking more than five times that for its...