Can capitalism be saved by a concept born in Boston?

Some of America’s best-known chief executives are ditching free market fundamentalism for a more liberal definition of corporate citizenship — one that evolved, in good part, in Boston.

Deer Island has been running on backup power since Aug. 5, as crews put the final touches on the new cable and test it out.

Chesto Means Business

Major milestone is reached as power line through Boston Harbor gets charged up

A major error made three decades ago will finally be fixed when a new power line across Boston Harbor to the Deer Island sewage treatment plant delivers its first jolt of electricity on Friday.

Christopher Kimball.

Christopher Kimball, America’s Test Kitchen settle legal battle

ATK had sued the celebrity chef, claiming he improperly worked on his new business venture using the company’s resources.

Monotype (ticker symbol TYPE) operates out of a nondescript office park in Woburn.


Deal to sell Woburn font company is not the type this investor likes

The Woburn foundry behind some of the world’s best known fonts has found a buyer. But one of its biggest investors says the price significantly undervalues the business.

Latest Business headlines

Chesto Means Business | Jon Chesto

UMass Boston sets a new fund-raising record

The school has long wrestled with a reputation for operating deficits and construction overruns — but this is a more positive headline.

Accused Capital One hacker is denied bail over past threats

The woman accused of hacking into Capital One Financial Corp.’s cloud and stealing personal information on more than 100 million people was denied bail after prosecutors portrayed her as a loose cannon with violent tendencies.

Google says only talk about work at work — and definitely no politics

Google’s message to its workers appears to fly in the face of the company’s famously uninhibited culture.

Recent home sales south of Boston (August 21)

DUXBURY: 55 Union Bridge Road; One-family Split Level, built in 1970, 1,738 square feet, 6 rooms, 4 bedrooms, 2 baths, on 40,075-square-foot lot. $540,000 |

Zuma vs. Zuma restaurant name dispute ‘amicably’ resolved

A Tex-Mex grill at Faneuil Hall ceded the name to the high-end Japanese restaurant in One Dalton tower.


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// The 2018 Top Places to Work in Massachusetts

These 128 businesses have the happiest employees in the state. Here are sortable lists of the winners, and how we compiled them.


// Developing new antibiotics requires new incentives, experts say

The private sector is unwilling to take on the financial risk, experts say, despite desperate need.

More Business headlines

Shipping containers are loaded onto a ship in Nantong in eastern China’s Jiangsu province.

China announces tariff hike on $75 billion of US goods

The tariffs come in retaliation for President Donald Trump’s planned Sept. 1 duty increase in a war over trade and technology policy.

Federal Reserve chairman Jerome Powell speaks Friday in Jackson Hole, Wyo.

Central bankers, aiming to keep economies growing, must wrestle with politics, too

Economies from the United States to the European Union to China are slowing, presenting a challenge for central bankers, whose tools are limited.

Governor Greg Abbott (top center) led Thursday’s forum in Austin, convened because of the El Paso massacre, which killed 22.

Texas governor meets with tech officials about quelling hate

Governor Greg Abbott met with officials from some of the tech giants to discuss combatting extremism after a shooting in El Paso killed 22.

A UPS employee unloads Amazon packages for delivery in Miami. Much of Amazon’s business has come from independent sellers who use the platform. The company is now trying to respond to some of their complaints.

Amazon’s $15 billion small business charm offensive Inc., criticized for wielding too much power over third-party merchants on its marketplace, said it will spend some $15 billion this year to help them boost sales.

(FILES) In this file photo taken on July 31, 2019 US Federal Reserve Chairman Jerome Powell speaks during a press conference after a Federal Open Market Committee meeting in Washington, DC. - President Donald Trump resumed his attacks on Federal Reserve Chair Jerome Powell on August 21, 2019, blaming him for keeping the economy from growing much faster.In yet another Twitter screed, Trump said,

Weak World Demand, Trade Take Biggest Toll Yet on U.S. Factories

Bigger cracks are forming across America’s manufacturing foundation as lackluster global demand and persistent trade tensions led to the first contraction in U.S. manufacturing since September 2009.

FILE - In this Aug. 16, 2019, file photo traders Dudley Devine, left, and Christopher Fuchs work on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EDT on Thursday, Aug. 22. (AP Photo/Richard Drew, File)

US stock indexes end mixed ahead of Fed chairman’s speech

A wobbly day on Wall Street left stock indexes mostly lower Thursday as investors turned cautious ahead of a widely anticipated speech by the Federal Reserve chairman.

Weekend Agenda

A computer giveaway, a career workshop for immigrants, and other events and things to know.

The Apple card.

Leather wallets, loose change pose danger for Apple’s new credit card

Apple issued special instructions for the card: Keep away from ‘‘hard surfaces or materials.’’ Your leather wallet or jeans pocket ‘‘might cause permanent discoloration.’’ Don’t let it touch another credit card or coins or keys. Also, there’s a two-step cleaning process.

The pact pledges to lift a 17.6 percent provisional tariff on Mexico’s tomato exports, plus sets reference prices on tomato imports, and includes a requirement for quality inspections.

Tomato trade war eases as US agrees to end Mexico tariffs

The agreement, which also ends a dumping probe by the Trump administration, is expected to head off calamity for the Mexican tomato export industry.

FILE - In this July 31, 2019, file photo Federal Reserve Chairman Jerome Powell speaks during a news conference following a two-day Federal Open Market Committee meeting in Washington. On Wednesday, Aug. 21, the Federal Reserve releases minutes from its July meeting when it cut its key interest rate for the first time in a decade. (AP Photo/Manuel Balce Ceneta, File)

Fed officials widely divided on rates at July meeting

Federal Reserve officials were widely divided at their meeting last month when they decided to cut rates for the first time in a decade, with some arguing for a bigger rate cut while others insisted the Fed should not cut rates at all.

Retailers’ results show sharp divide between losers, winners

The divide between retail winners and losers is widening.

Roger Berkowitz, CEO of Legal Seafoods, has a unique way to forecast the economy: sales of hard liquor at his restaurants. And he says those sales are up just a bit, indicating that his customers may be worried.


Recession on the horizon? Local business leaders aren’t convinced

They’re on alert, yes, but few business leaders in the Boston area seem to expect the economy to fall off a cliff.

Brinley Rawson, a 17-year-old “Stranger Things” fan from Gwinnett County, snapped a photo of Gwinnett Place Mall in Duluth, Ga. “Stranger Things” filmed much of season three at the mall, which was called Starcourt Mall in the show.

‘Stranger Things’ fans bring cameras, wallets to Georgia

Soon after Netflix released “Stranger Things,” fans of all ages flocked to local businesses in Georgia where the show filmed, some dressed as characters from the show, looking to recreate iconic scenes.

Stocks climb after big US retailers post solid earnings

Strong earnings reports from several big retailers helped drive stocks broadly higher Wednesday as the market bounced back from its first loss in four days.

Business agenda

A vocal training, mortgage rates and other events and things to know

The Tootsie Roll plant is something of a throwback to a time when Cambridge was a much different place than the biotechnology hub it has become.

In biotech hub Cambridge, there’s still room for Junior Mints

Tootsie Roll Industries Inc. is planning a modest expansion of the century-old Cambridge factory where it produces the entire world’s supply of Junior Mints.

WASHINGTON, DC - AUGUST 21: U.S. President Donald Trump speaks to the media before departing from the White House on August 21, 2019 in Washington, DC. President Trump spoke on several topics including the U.S. economy and why he canceled his trip to Denmark. (Photo by Mark Wilson/Getty Images)

Trump says he’s the ‘chosen one’ to take on China over trade

“This is a trade war that should have taken place a long time ago,” President Trump told reporters at the White House. He added: “Somebody had to do it. I am the chosen one.”

President Trump.

US budget gap set to top $1 trillion in 2020, two years sooner than expected

The deficit will expand faster than thought after recent legislation that raised spending levels, according to the Congressional Budget Office.

Ted Ashburn, chief executive of Oncorus.

Oncorus raises $79.5m to develop solid tumor cancer drug

The company plans to use the funds to bring a drug that targets solid tumors found in different types of cancers — including breast, skin, and liver cancers — to clinical trial in early 2020.

Sales growth has slowed at T.J. Maxx and other TJX stores.


TJX’s sales growth has slowed, but it’s still making its brick-and-mortar strategy work

When the news hit the wire Tuesday morning, you could picture investors wondering: Has the TJX Cos. juggernaut started to run out of steam?

British Prime Minister Boris Johnson’s government said that, after Sept. 1, officials will “stop attending most EU meetings” to focus on future ties with the bloc and other nations.

EU rebuffs Johnson bid to reopen Brexit deal as deadlock remains

Concerns over the Irish border were the latest in a series of disagreements leading the EU and Britain to sink deeper into their irreconcilable positions on a Brexit divorce deal.

Wayfair’s store offers virtual reality technology to help customers visualize home designs that utilize the company’s furniture and other products.

At Wayfair’s first store, the website isn’t far away

The Boston-based e-commerce giant’s first brick-and-mortar store opens Wednesday at the Natick Mall.

Trump presses carmakers not to join Calif.’s fight against easing Obama-era pollution rules

Trump’s plan is at odds with the wishes of many automakers, which fear a legal battle between California and the federal government that could split the US car market.

President Trump and his advisers are considering options to stimulate the American economy as indicators that the administration previously used to boast of an economic “boom” have fizzled on the back of Trump’s escalating trade fights.

Trump says he’s exploring ‘various tax reductions’ as economy slows

Several indicators suggest that the effects of Trump’s trade fights with China and Europe and a slowdown in global growth are dragging on the US economy and eroding the short-term boost from the president’s 2017 tax cuts.

New British Prime Minister Boris Johnson’s government said as of Sept. 1 it would stop attending all EU meetings where its vital interests were not at stake, dimming prospects for any breakthrough in Brexit negotiations ahead of a summit of G-7 leaders this weekend.

UK, EU harden their positions on Brexit as G-7 nears

Concerns about the Irish border are the latest in a series of disagreements pushing the European Union and Britain deeper into their irreconcilable positions on a Brexit divorce deal.

Major stock indexes slip, ending a 3-day rally

Stocks fell broadly on Wall Street Tuesday after another slide in bond yields and a mixed batch of corporate earnings weighed on the market.

University president Larry Bacow announced Tuesday in a statement that Harvard will put another $20 million toward a low-interest loan program that helps to fund apartment and condominium buildings for lower- and middle-income residents.

Harvard renews its affordable housing program with $20m

The school will put the money toward a low-interest loan program that helps to fund apartment and condominium buildings for lower- and middle-income residents, mainly in Boston and Cambridge.

Business Agenda

Social mixers, a startup pitching competition, and other events and things to know.

Sarepta Therapeutics headquarters in Cambridge, Massachusetts.

FDA rejects Sarepta Therapeutics’ second Duchenne drug

Investors are still trying to figure out what the decision means for Sarepta moving forward. Here are some thoughts and questions on the subject.

Facebook said Tuesday that it is adding a place where users can see the activity that the social media site tracks outside its service. If they want, they can turn it off.

Facebook rolls out tool to block off-site data gathering

Off-site tracking is how Facebook targets users with ads, so by disconnecting your off-Facebook activity from your profile, you can decrease the number of familiar ads you see on your feed.

FILE - In this March 25, 2019, file photo, from left, Steve Carell, Reese Witherspoon and Jennifer Aniston speak at the Steve Jobs Theater in Cupertino, Calif. Apple is offering a first look at its web television series “The Morning Show.” It posted a teaser of the show, which stars Reese Witherspoon, Jennifer Aniston and Steve Carell. The drama seeks to give a behind-the-scenes view of early-morning TV. “The Morning Show” will debut this fall on AppleTV+. (AP Photo/Tony Avelar)

Apple targets Apple TV+ launch in November, weighs $9.99 price after free trial

Apple will introduce a small selection of shows and then expand its catalog more frequently over several months, and a free trial is likely as it builds up its library.

bold types

David Howse on ArtsEmerson’s efforts to reflect the city’s diversity on its stage — and in its audience

“We wanted to figure out if we could actually create a space where everyone, even those who have not always traditionally felt welcome, could own these spaces and really belong here,” Howse said.

Wareham , MA - 8/20/2019 - Thomas P. OÕConnell stands on what would be the Grandstands overlooking the Racetrack and Casino where Quincy-based development group (Notos Group LLC) wants to build a $300M casino/racetrack, and an accompanying sports complex at the Glen Charlie Road site of the proposed project on land currently owned by Graziano Redi-Mix, a gravel and concrete products company in Wareham. - (Barry Chin/Globe Staff), Section: Business, Reporter: Jon Chesto, Topic: 21horsetrack, LOID: 9.0.647214829.

Quincy developer unveils horse track, casino plan for Wareham

A Quincy developer is promoting an ambitious plan for Wareham to build a new horse track along with a hotel and entertainment complex with slot machines.

Inside the headquarters of Elizabeth Warren’s presidential campaign, scenes include (clockwise from top left) a suit of armor bearing the rallying cry of “Persist;” staffers on scooters; a wall of letters from supporters; and a lending library put together by staff.


Inside Elizabeth Warren’s Charlestown campaign HQ

Elizabeth Warrren’s operation hums inside Charlestown’s Acme Binding building, including a pair of cornhole boards penciled with the word “Persist” and a suit of armor dubbed “Sir Plans Alot.”

Business agenda


US gives companies more time to cease doing business with Huawei

A 90-day extension is intended to give rural telecommunications time to wean themselves off the Chinese company, which supplies parts and equipment.

President Trump on Monday decried “the horrendous lack of vision by Jay Powell and the Fed.” Jerome Powell, shown in this 2017 photo with Trump, was the president’s choice to chair the Federal Reserve.


Trump’s claim of an economic plot against America betrays a whiff of desperation

If there is a recession before the election, it won’t be the president’s fault. His campaign rallies will be one long tirade against colluding immigrants, Muslims, socialists, gun haters, and . . . the Fed!

Tech stocks drive a broad rally on Wall Street

Technology companies powered a rally that gave the market its third straight gain.

The 114-room Ames Hotel on Court Street is under agreement to be sold to Suffolk University.

Suffolk University aims to turn boutique downtown hotel into a dorm

Suffolk has an agreement to buy the well-known Ames Hotel after outbidding hotel operators.

Jeff Carlson


Despite customers’ cord-cutting, RCN’s expanding

Bold Types: With all the cord-cutting going on these days, it’s rare to see a cable TV company expand into more Massachusetts cities and towns.

JPMorgan Chase’s CEO, Jamie Dimon, said corporations must commit to the “future success of our companies, our communities and our country.”

Shareholders’ interests can no longer be the overarching value for corporations, CEO group says

Faced with mounting discontent over climate change, income inequality, and working conditions, 181 CEOs pledged to revise a long-standing principle of corporate governance.

Innovation Economy by Scott Kirsner


Kirsner’s Innovation Economy column appears in the Boston Sunday Globe, and he contributes to the Globe’s Beta Boston website.