Stability seen weaving its way back into housing market
An unusual thing is creeping into Greater Boston’s housing market this fall: Choice.
Around 3 p.m. on Monday, the Food and Drug Administration announced it had approved a new combination drug by Boston-based Vertex Pharmaceuticals to treat cystic fibrosis — five months sooner than expected. Then at 6:30 a.m. on Tuesday, Biogen said it would revive a medicine for early Alzheimer’s disease that it scrapped as a failure in March.
An unusual thing is creeping into Greater Boston’s housing market this fall: Choice.
Community hospitals, which have long argued that they lack the clout to demand higher reimbursements from insurers, say the proposal falls short.
Biogen, the Cambridge biotech company, said its Alzheimer’s drug showed signs of helping patients, a sudden ray of hope in the battle against a devastating illness. “This is very exciting for people like myself living with the disease,” said Michael McCormack, who was diagnosed five years ago.
When Bob Rook left the music business to focus on ice cream full-time in the mid-1990s, his goal was nothing less ambitious than to turn Emack & Bolio’s into a global brand.
WeWork, the troubled shared office space company, has agreed to be taken over by its largest outside investor, SoftBank, the Japanese technology giant, according to people with knowledge of the matter.
Some business tidbits you may have missed.
Chesto Menas Business | Jon Chesto
A public speaking workshop, a tech industry mixer, and other events and things to know.
An afternoon recap of the day’s most important business news, delivered Monday through Friday.
Top Places to Work
These 128 businesses have the happiest employees in the state. Here are sortable lists of the winners, and how we compiled them.
The private sector is unwilling to take on the financial risk, experts say, despite desperate need.
WeWork has agreed to be taken over by its largest outside investor, SoftBank, in a deal that provides a lifeline for the troubled shared office space company after it pulled its initial public offering and removed its chief executive.
A late-afternoon burst of selling erased modest gains for the market, which was coming off two weeks of gains.
Bill Johnson, Pacific Gas & Electric’s chief executive officer, said during a news conference that the severe weather approaching Northern California raised the possibility that the utility would have to cut power again.
The Wall Street Journal is reporting that WeWork is being taken over by the Japanese tech conglomerate that invested billions in the company before its botched effort to go public.
The Cambridge biotech plans to resurrect an Alzheimer’s drug that the company previously said had failed, asking the Food and Drug Administration to approve it.
Chesto Means Business
National Amusements Inc. takes all the usual approaches to promoting its cinemas: billboards, radio, social media. Now, add a new component to that marketing plan: science experiments.
The Mayflower Autonomous Ship will sail from England to the United States on its own to mark the 400th anniversary of the Pilgrims’ voyage, gathering scientific data along the way.
A social mixer, a storytelling workshop, and other events and things to know
Vertex Pharmaceuticals won approval from the US Food and Drug Administration for a new three-drug combination that could help 90 percent of patients with cystic fibrosis.
The quarterback’s cameo was no dig. It was an act of solidarity that reduced Patriots owner Bob Kraft’s alleged prostitution charges to a punch line in a TV show.
The three major drug distributors and an opioid manufacturer have reached a $260 million settlement with two Ohio counties to avoid the landmark first federal opioid trial that was set to begin Monday.
The rally came as investors found fresh reason for optimism as the United States and China continue negotiations to resolve their costly trade war.
Facial-recognition software from Amazon.com mistakenly identified Duron Harmon and 26 other prominent New England athletes as possible outlaws in an ACLU test.
Less than four years after it was founded by the German drug and chemical giant Bayer and a Swiss gene-editing company, Casebia plans to close as an independent entity.
Dunkin’ accelerated the wider launch after New York sales were more than double what it had forecast, with the plant-based sandwich becoming the No. 2 selling sandwich in Manhattan.
The funding is also aimed at boosting startups working on artificial intelligence programs for health care.
The nation’s three dominant drug distributors and a big drugmaker have reached a deal to settle a lawsuit related to the opioid crisis just as the first federal trial over the crisis was due to begin Monday.
Sean P. Murphy | The Fine Print
Jeffrey Lee purchased a big new house in Dorchester with visions of lazy summer days spent frolicking on a grassy lawn with his toddler. But there was practically no grass.
GM won something it had rarely attained in the past, outside of bankruptcy: the ability to close three plants.
Scott Kirsner | Innovation Economy
Boston’s fashion capital has become the latest hot spot for the region’s influential venture capital industry.
MICHELLE SINGLETARY | THE COLOR OF MONEY
A hospital pension failed, leaving hundreds of workers without their retirement safety net. Here’s why you should care about their plight.
The new charges have local business owners on edge as they prepare for one of their busiest times of the year.
chesto means business
The team behind the 1.7-million-square-foot proposal dubbed Tremont Crossing lost $30 million in predevelopment financing about two weeks ago, Director Brian Golden of the Boston Planning & Development Agency says, and the group could not point to another source of funds.
The new zoning would enable developer Don Chiofaro to build a massive waterfront tower along the edge of Boston Harbor.
Johnson & Johnson is recalling a shipment of baby powder after the Food and Drug Administration discovered evidence of asbestos in one of the bottles, the company said Friday, a move that undercuts its defense in a growing number of claims that its talc-based products were contaminated with the potent carcinogen.
A Boeing pilot working on the 737 Max said in messages from 2016 that a new automated system was making the plane difficult to control in flight simulators, more than two years before it was grounded after two deadly crashes.
A pilot at Boeing had expressed concern three years ago over the flight control system that has been implicated in two fatal crashes, but the company waited months to disclose them.
Senators Elizabeth Warren and Edward Markey, along with eight of the state’s representatives, asked Homeland Security for more help with a problem that has affected communities across the state.
This month Honey Dew will make the switch to double-walled paper cups at all of its locations. Dunkin’ is on track to eliminate the foam cup in New England by year’s end.
The pact would resolve allegations Johnson & Johnson deceptively marketed its pelvic mesh products, which support women’s sagging pelvic organs.
DETROIT — General Motors has agreed to continue production at a Detroit plant it had planned to shut down, but will not resume operations at three others recently idled, the United Automobile Workers union said Thursday in announcing the terms of a tentative contract agreement.
CHESTO MEANS BUSINESS
After failing in the HQ2 sweepstakes, Revere will host a giant Amazon facility at the former Necco candy factory.
A brunch benefiting cancer research, a career fair for students interested in conservation, and other events and things to know.
Juul Labs is facing multiple federal and state investigations into its marketing practices as outrage mounts over the soaring rate of teenage vaping.
The BPDA board blessed plans for a 310-foot building atop the garage on Stuart Street, next to the Park Plaza Hotel.
The insurance giant will sell off the land and development rights for the Stuart Street property.
A breakthrough in negotiations over Britain’s exit from the European Union also helped put traders in a buying mood.
The organization My Life My Choice sees the world from the perspective of survivors as it fights the commercial sexual exploitation of children. And its employees believe that the best way to promote understanding is by amplifying the real voices of real people.
Zuckerberg defended the policy that allows politicians to peddle ads containing misrepresentations and lies on Facebook.
The analysis injects fresh skepticism into the popular theory that giving consumers more information about the cost of medical services will compel them to choose lower-cost health care providers.
Efforts to settle thousands of lawsuits related to the nation’s opioid epidemic were intensifying Wednesday, just days ahead of the scheduled start of arguments in the first federal trial over the crisis.