Despite slumping economy, Atlas Venture raises $400m for biotech startups

The Cambridge VC firm says its latest round of funding was actually oversubscribed.

Boston plans to reserve some liquor licenses for minority-owned restaurants

Economic development chief John Barros is trying to address the low number of licenses held by people of color.


Coronavirus has limited funeral rites, but the costs for one family don’t reflect that

Julia Flaherty’s farewell consisted of a sparsely attended “viewing” at the funeral home the morning of the burial, followed by a family-only graveside service that lasted less than 10 minutes. But a funeral home refunded her family only 10 percent of a $15,000 advance payment they made last summer, before coronavirus-related limitations on gatherings.

Larry Edelman

Don’t hate Raytheon. Hate the stock-compensation game

A recent move by the Waltham company to offset losses on stock awards says a lot about how companies take care of high-paid employees while often leaving ordinary workers to fend for themselves.

Latest Business headlines

TJX faces criticism over big gap between CEO and median worker pay

TJX CEO earned about $19 million, while the median worker paycheck was about $12,000.

‘It’s certainly a shocker’: Key takeaways from today’s jobs report

Employers added 2.5 million jobs and the unemployment rate fell, the exact opposite of what economists told us would happen. Here are the key takeaways from the May jobs report.

Reddit cofounder leaves board, urges Black replacement

Reddit cofounder Alexis Ohanian announced his resignation from the board of the social media site and urged the board to replace him with a Black candidate.

Twitter disables Trump campaign’s George Floyd video tribute

Twitter has blocked a Trump campaign video tribute to George Floyd over a copyright claim, in a move that adds to tensions between the social media platform and the president, one of its most widely followed users.

Brooks Brothers, ‘Made in America’ since 1818, may soon need a new calling card

Brooks Brothers plans to lay off nearly 700 employees this summer at the factories, in Massachusetts, New York, and North Carolina.


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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


Dropkick Murphys make a 3-year deal with Cambridge software firm Pegasystems

The six-figure partnership includes an up-front payment to support the band’s 10-person road crew.

China to allow foreign airlines back after US retaliates

China will ease its ban on foreign airlines starting June 8, changing course a day after the Trump administration demanded the country reopen to US airlines or face curbs on its own carriers flying passengers to America.

American Air’s 74% jump in flying signals travel on the mend

The action signals that US travelers freed from shelter-in-place orders are returning more quickly than expected.


Steward transfers controlling interest to a management group

Stories you may have missed from the world of business.

Biz groups team up to seek help with COVID-19 liability issues

Efforts to obtain “safe harbor” face pushback from unions and worker advocates.

Fidelity Magellan, the mutual fund made famous in the 1980s by Peter Lynch, was beating 95 percent of its competition as of Tuesday, according to data compiled by Bloomberg.

Fidelity Magellan echoes glory days by trouncing benchmark

The stock-pickers are shining again at Fidelity Investments.


Small businesses in Massachusetts have been too scared to spend federal loan money

Some relief may be on the way after the US House and Senate passed crucial fixes to the Small Business Administration’s Paycheck Protection Program.

ZoomInfo’s strong stock debut shows signs of life in once-stalled IPO market

The biggest tech IPO of the year shows that things are starting to heat up again -- for the right company.

S&P 500 falls for first time in five days

Many professional investors have been arguing that the stock market’s rally, which had reached nearly 40 percent since late March, was overdone and that a pullback was likely.

Task force: More needs to be done to protect the most vulnerable as the state reopens

Among the conditions it wants met is a drop in the infection rates among minority groups.


Sarepta to expand in Ohio

Stories you may have missed from the world of business.

Retailers hit by thefts and damage are supporting protests against racism, violence

Damaged businesses are choosing to amplify the Black Lives Matter movement.

Snap says it will no longer promote Trump’s account

Snap said Wednesday that it has stopped promoting the Snapchat account of President Trump after determining that his public comments off the site could incite violence.

Amazon distribution center might open on busy Dorchester Ave.

The developers promise to limit Amazon to a 10-year lease. The money involved, they say, would help fund environmental cleanup and help spark the redevelopment of other sites they own nearby.

Restaurant owners frustrated over new fees from Providence payment company

A dispute between restaurant owners and payment firm Upserve over online fees lays bare the fragility of the food industry during the pandemic.

An Air China plane parked at the gate at Los Angeles International Airport. The United States on Wednesday ordered the suspension of all flights by Chinese airlines into and out of the country after Beijing failed to allow American carriers to resume service to China.

Trump administration to block Chinese airlines from flying to the US

The Trump administration said Wednesday that it would block Chinese passenger airlines from flying into or out of the United States starting June 16 in retaliation for a similar ban by the Chinese government on US companies.

As Mass. waits out COVID-19, casinos in Conn. are open for business

At Foxwoods, interim chief executive Jason Guyot said he believes the worst of the threat has passed, and that the resort’s aggressive cleaning, screening, and social distancing protocols will keep patrons and employees safe.

Trump administration selects five coronavirus vaccine candidates as finalists

The five companies include Moderna, a Cambridge-based biotechnology firm, and the combination of Oxford University and AstraZeneca, both of which are preparing to enter the final round of trials on their vaccines.

Venture capital leader’s emotional plea about racism sparks donations to Hack.Diversity group

A Boston initiative to increase diversity in the technology sector has received an outpouring of support following the death of George Floyd in Minneapolis.

Wall Street’s rally rolls on; S&P 500 back within 8% of high

Stocks bubbled even higher on Wednesday, vaulting Wall Street back to where it was just one week after it set its all-time high earlier this year, as optimism builds that the economy can climb out of its current hole relatively quickly.

Mass. employer group seeks answers from Baker administration on reopening

Business lobbying on Beacon Hill has entered a new phase as state officials refine their reopening plan.

Boston is pumping another $5m into its relief fund for renters

‘We know the need for assistance with housing payments remains,’ says Walsh.


Bain Capital one of two possible buyers for Virgin Australia

Stories you may have missed from the world of business.

CEO Mark Zuckerberg said Facebook’s decision not to remove inflammatory posts by President Trump was a matter of free speech.

Zuckerberg defends hands-off approach to Trump’s posts

Facebook’s principles and policies around free speech “show that the right action where we are right now is to leave this up,” Zuckerberg said in a question-and-answer session with employees about inflammatory posts by the president.

The equity awards resulted from Raytheon Co.’s merger with United Technologies Corp., as well as United’s spinoffs of their Otis elevator and Carrier air-conditioner businesses.

Raytheon bosses get merger windfall amid furloughs, pay cuts

The company has tweaked terms for stock awards issued to the CEO and a large group of other managers, instantly boosting the value of their unvested awards by more than $100 million, according to calculations by Bloomberg News.

The Macy’s flagship store in Manhattan was boarded up ahead of Sunday’s protests.

Unrest another blow for struggling Macy’s

Images of looters smashing windows and running through Macy’s flagship location in Herald Square was one more symbolic hit to the already badly battered retailer.

Quincy resident Heidi Wollerman picked up food at the South Shore YMCA Germantown Neighborhood Center Food Pantry in Quincy.

Why Wall Street has bounced back and Main Street hasn’t

The divide is symbolic of the opposing realities that have come to define the United States: the wealthy, who are largely inoculated from the twin pandemics of COVID-19 and economic hardship, and the poor and working classes, for whom scratching out a living is only getting harder.

Restaurant relief bill moves forward on Beacon Hill

Legislation streamlines licensing process for outdoor dining, makes cocktails available for take-out, and caps fees of third-party delivery companies.

AG Healey urges business leaders to seize ‘once in a lifetime opportunity’ to address racial inequity

The challenge of addressing systemic racism has taken on a newfound sense of urgency for Boston's business community.

Stocks extend gains on Wall Street to a third straight day

The latest gains, which followed a rally in global stocks, were driven by optimism that the global economy will begin to recover as governments gradually allow businesses that were closed due to the coronavirus outbreak to reopen.


Their goal: making you feel safe again

Boston-area companies are rolling out new products this month aimed at monitoring things such as mask wearing and elevated body temperature.

Former GE executive is named CEO of Shields Health Solutions

Lee Cooper, who once ran General Electric’s US health care business, takes over from cofounder Jack Shields, who will remain chairman of the Stoughton specialty pharmacy company.


Delta Dental to offer aid to subscribers and dentists hurt by pandemic

Stories you may have missed from the world of business.

A Boston biotech tries to retrofit a drug to prevent COVID-19’s aftereffects

Publishers sue Internet Archive, says its free online ‘library’ violates copyright law

In March, the Internet Archive said it had established a “National Emergency Library’’ in response to the coronavirus outbreak, which has shut down most of the country’s schools and libraries.

Anthony Fauci on reopenings, vaccines, and moving at ‘warp speed’

WASHINGTON, DC - MAY 29: U.S. President Donald Trump speaks during a meeting with industry executives on the reopening of the U.S. economy in the State Dining Room May 29, 2020 in Washington, DC. Trump also answered questions on developments in Minneapolis following the death of George Floyd. (Photo by Erin Schaff-Pool/Getty Images)

Coronavirus fallout will haunt US economy for years, costing it $8 trillion through 2030, CBO says

Coronavirus fallout will haunt US economy for years, costing it $8 trillion through 2030, CBO says

‘They just kind of destroyed the place’: Business owners clean up from Sunday’s mayhem

The vandalism and looting Sunday night in Boston came at a tough time for businesses, which have already been dealt a gut punch by the coronavirus pandemic.

Fannie-Freddie capital rule seen harming less-wealthy borrowers

A top regulator’s plan for boosting Fannie Mae and Freddie Mac’s ability to withstand losses could mean higher costs for many mortgage borrowers, with the burden falling most heavily on those with less wealth and lower incomes, according to economists and housing-finance experts.

Gilead’s coronavirus drug remdesivir showed only a limited benefit in a large trial of more moderate patients with COVID-19, sending share prices down.

Gilead falls as drug has only small benefit in large trial

Gilead Sciences Inc.’s drug remdesivir showed only a limited benefit in a large trial of more moderate patients with COVID-19, a result that may shift perceptions of the therapy already cleared for use in severe cases of the disease.

Offices in Boston are open for business, but few workers are showing up

It was the coronavirus pandemic, not the scenes of violence and looting from Sunday night, that kept most people away.

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.