Business

  • Boston Magazine 14 hours ago

    Boston Magazine to Leave Its Longtime Back Bay Home

    After spending 35 years in the historic Horticultural Hall in Back Bay, Boston Magazine is on the hunt for a new home. The Classical Revival building, located at 300 Massachusetts Ave., sits on the Christian Science Plaza, across from Symphony Hall. “It is bittersweet for us to be looking for a new space, we have loved our time here,” David…

  • Business Feb 17

    Apple Warns China Virus Will Cut iPhone Production, Sales

    Apple Inc. is warning investors that it won’t meet its second-quarter financial guidance because the viral outbreak in China has cut production of iPhones.

  • retail Feb 5

    Macy’s to Close 125 Stores, Cut 2K Corporate Jobs, in Hunt for Growth

    Stuck in a sales slump, Macy’s is shrinking to grow. The department store chain announced Tuesday it plans to shut 125 stores over the next three years and slash about 2,000 corporate jobs, as it closes its Cincinnati headquarters and tech offices in San Francisco. Macy’s said it plans to exit weaker shopping malls, and instead shift its focus toward…

  • Macys Feb 4

    Macy’s to Close 125 Stores Over Next 3 Years

    Macy’s announced they will be shuttering 125 stores over the next three years, exiting struggling malls and focusing on building smaller stores in strip centers.

  • Business Feb 4

    Sephora to Open 100 Stores in 2020, in Bid to Grow Outside of the Mall

    Beauty retailer Sephora has big growth plans, at a time when many businesses are shutting their doors for good.

  • Business Jan 31

    Staples Launches Revamped Stores in Greater Boston — Complete With Podcast Studios

    Staples Inc. next week will launch six reimagined retail stores in Greater Boston, as the Framingham-based office products retailer aims to pivot from stores with a warehouse-like feel to ones that gives shoppers an experience — and a place to record a podcast. Part of the recalibration is streamlining Staples’ in-store merchandise into separate sections, each designed around an experience…

  • Business Jan 24

    Needham-Based TripAdvisor Reducing Its Workforce by ‘Hundreds’

    Needham-based TripAdvisor Inc. says it’s “prudently reducing and re-allocating expenses” in some areas, and multiple reports — which the company is not disputing — suggest that includes layoffs of “hundreds” of workers. In a statement to the Business Journal, the online travel platform company said it is “prudently reducing and re-allocating expenses in certain parts of our business to preserve strong profitability,...

  • Business Jan 23

    NYC Stores Now Required To Accept Cash As Payment, Bucking Recent Trend

    New York City lawmakers have voted to require stores and restaurants to take cash as payment

  • real estate Jan 9

    A Massachusetts Mall Just Sold for $16M

    Hull Property Group has bought The Mall at Whitney Field in Leominster, Massachusetts, from Colony Capital for $16 million. The 744,107-square-foot mall is 95 percent leased and anchored by Sears, Macy’s, JCPenney, Burlington and Market Basket. “This offering represented an exceptional opportunity to own all of The Mall at Whitney Field’s anchor tenants, including a high-volume Market Basket,” said Newmark…

  • Technology Jan 7

    Facebook, YouTube Make Changes in Fight vs. Online Manipulation

    Facebook says it’s banning “deepfake” videos as it steps up efforts to fight online manipulation. The social network said Monday it’s beefing up its policies to remove the the false but realistic clips created with artificial intelligence. The company said the new rules won’t include parody or satire, or clips edited just to change the order of words. The exceptions...

  • Vermont Dec 30, 2019

    Up to $7,500 Available to New Vt. Residents

    New England’s least-populated state is hoping to grow its workforce in the new year and is willing to pay people to move there to achieve its goal. “Our hope is this is a catalyst,” said Lindsay Kurrle, the secretary of the Vermont Agency of Commerce & Community Development, referring to a new program aimed at encouraging job applicants from...

  • Business Dec 24, 2019

    Former Uber CEO Kalanick Severs Ties With Ride-Hailing Giant

    Former Uber CEO Travis Kalanick is resigning from the board of directors, severing ties with the ride-hailing company that he co-founded a decade ago and ran until a series of scandals led to his downfall. The departure, announced Tuesday, did not come as a surprise. Kalanick recently sold more than $2.5 billion worth of stock in the company, or more…

  • Business Dec 23, 2019

    DraftKings to Go Public as Part of Merger

    DraftKings Inc. plans to become a public company as part of an agreement that also brings in another gambling tech firm under the Boston-based sports gaming and online betting company’s umbrella. Diamond Eagle Acquisition Corp. has entered into the agreement with DraftKings, which is also combining with SBTech. Diamond Eagle is expected to change its name to DraftKings Inc. and...

  • CEO Pay Dec 10, 2019

    Do CEOs really make 100 times more than employees? They do at these companies

    Last year, The Walt Disney Co. Chairman and CEO Robert A. Iger took home a paycheck that was anything but Mickey Mouse. Iger’s total compensation for 2018 was a breathtaking $65,645,214. The pay of a median The Walt Disney Co. employee, on the other hand (a full-time hourly worker at a Disney theme park who has been with the company…

  • Massachusetts Nov 8, 2019

    8 Sears, Kmart Stores Set to Close in New England

    Eight Sears and Kmart stores will permanently close in New England as part of a bigger initiative to shut down 96 stores nationwide. Transformco, the company that acquired Sears Holdings Corporation this February, cited “increased competition and other factors” as reasons for the upcoming closures. To support new initiatives from the company, its owners and a third-party investor provided Transformco...

  • Massachusetts Oct 2, 2019

    Amazon Opens ‘4-Star’ Brick-and-Mortar Store in Natick Mall

    Amazon customers can now head to the Natick Mall in Massachusetts to shop for highly-rated products in person. Amazon 4-Star is a brick-and-mortar store offering products with four-star or higher ratings on the e-commerce giant’s website. There are five Amazon 4-Star stores in the U.S.; the Natick location is the first in the Greater Boston area.

  • Massachusetts Oct 2, 2019

    New Amazon 4-Star Store Opens in Natick, Mass.

    A new store opening at the Natick Mall in Massachusetts is offering Amazon customers the opportunity to shop in person.

  • Attorney General Feb 26, 2019

    UK Leader Puts Future of Brexit in Parliament’s Hands

    Britain’s bumpy journey out of the European Union took a major turn Tuesday, as Prime Minister Theresa May handed the steering wheel to Parliament, giving lawmakers the power to slam on the brakes and divert Britain away from a disruptive and chaotic Brexit. Bowing to pressure from within her own government to avert a damaging “no-deal” Brexit, May told legislators...

  • Massachusetts Dec 25, 2018

    Mass. Jobless Rate Falls to Lowest Point in 15 Years

    The Massachusetts unemployment rate has dropped to its lowest point in 15 years. The state gained an estimated 4,600 jobs in November as the overall unemployment rate dropped to 3.4 percent.

  • Massachusetts Dec 20, 2018

    Governor Baker Addresses Cabinet Shakeup, National Grid Lockout

    In what may have been his last press conference of the year, Massachusetts Governor Charlie Baker took a last selfie with his economic development secretary who is leaving his cabinet position this week. Baker announced Tuesday that Jay Ash would be leaving the administration, praising him by saying that he’s worked “tirelessly with members of the Legislature, local officials and...

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