Innovation center will be first U.S.-based R&D site for MitsubishiBy Eli Chavez One month after Nvidia announced plans to launch a new research center in Boston, an international electronics company has announced it will be bringing its resources to Boston with an innovation center in Cambridge. The Mitsubishi Electric U.S., an affiliate of Mitsubishi Electric Corp., announced that it […]
By William Hall Another merger of Bay State financial institutions is in the works — and for the leaders of Eastern Bank and HarborOne Bank, this one is personal. Under a pending agreement, Boston-based Eastern Bankshares Inc. (Nasdaq: EBC) would acquire Brockton-based HarborOne Bancorp Inc. (Nasdaq: HONE) for roughly $490 million. Eastern plans to pay HarborOne […]
By William Hall Little more than a year after going public, the parent company of Needham Bank posted a 19% drop in quarterly net income due to two onetime expenses, while loans and deposits both grew. NB Bancorp Inc. (Nasdaq: NBBK) on Tuesday evening posted first-quarter results including net income of $12.7 million. Those numbers compare […]
Ashley Capoot IBM on Monday announced it will invest $150 billion in the U.S. over the next five years, including more than $30 billion to advance American manufacturing of its mainframe and quantum computers. “We have been focused on American jobs and manufacturing since our founding 114 years ago, and with this investment and manufacturing commitment we are […]
By Greg Ryan Home Depot Inc. has paid $72 million to acquire a large chunk of a Watertown property that hosts one of its stores, though a Boston real estate developer continues to have preliminary approval to put a lab building on part of the site. Following the transaction earlier this month, Boylston Properties still owns a […]
By Isabel Hart The plans to restore and renovate the historic Hotel Alexandra on the border of Boston’s South End and Roxbury neighborhoods have changed many times over the past several years, but developers of the property said they are close to getting the go-ahead from city planners. The newest version of the proposal for the Victorian […]
By Michael Silverman and Jon Chesto The New England Revolution just secured a crucial assist from the state Legislature to help build a soccer stadium in Everett. But it’s just the first of many issues to be resolved before they can reach that ultimate goal. Among the remaining questions: Is it financially feasible for the Kraft Group, […]
By Linda Moss Eataly, the global Italian gourmet market and restaurant chain, is venturing outside cities such as New York and Chicago into the suburbs to rapidly expand in North America. In so doing, it’s showing how suburban malls are attracting traditionally urban tenants. The company opened its first location in New Jersey at the upscale Mall […]
By Greg Ryan The potential soccer stadium in Everett may be getting lots of attention, but there’s another real estate-related provision in the state economic development bill that would have a far broader effect on the industry. The legislation, unveiled on Tuesday, extends approvals for building and other permits by two years statewide. The blanket extension would give […]
By Lauren Ohnesorge Red Hat is buying Neural Magic, an artificial intelligence firm based in the Boston area. Executives at the IBM (NYSE: IBM) subsidiary headquartered in North Carolina describe it as a play to level up in AI. “Red Hat has a long history of being open-sourced focused,” said Chris Wright, CTO of Red Hat, during a […]
