by Justice Malala In 1994 south Africa provided some of the most joyous scenes of the late 20th century, when it elected Nelson Mandela as its first black president. The more or less peaceful transition from apartheid to multiracial democracy demonstrated what can happen when political enemies show courage and imagination. Yet as our Briefing this […]
BY CHRISTOPHER RUGABER WASHINGTON (AP) — After several unexpectedly high inflation readings, Federal Reserve officials concluded at a meeting earlier this month that it would take longer than they previously thought for inflation to cool enough to justify reducing their key interest rate, now at a 23-year high. Minutes of the May 1 meeting, released Wednesday, showed that […]
By Diti Kohli This is the second in a series of stories about the consequences of Boston’s broken liquor license system. Chompon Boonnak is the kind of restaurateur Boston needs: smart and eager, with a knack for crafting inventive food and a convivial dining room. The menu at his 30-seat Thai restaurant, Mahaniyom, is mouth-watering. […]
By Hannah Green After a trial of Lyra Therapeutics Inc.’s drug to treat sinus inflammation failed to meet the goals of a late-stage trial earlier this month, the company is cutting its workforce and looking to sublease its facilities as it hunts for “strategic options.” Lyra (Nasdaq: LYRA) shared in a Tuesday securities filing that it’s laying off 75% of […]
By Augusta Saraiva US employers scaled back hiring in April and the unemployment rate unexpectedly rose, suggesting some cooling is underway in the labor market after a strong start to the year. Nonfarm payrolls advanced 175,000 last month, the smallest gain in six months, a Bureau of Labor Statistics report showed Friday. A later release showed that business activity […]
By Grant Welker It’s not just inflation, and it’s not just a matter of perception: the cost of buying a home in Boston has far surpassed the increase in wages in the past 50 years, according to a new analysis. In Boston, a typical wage in 1970 was $9,133, according to a report this spring by […]
By Erik Sherman According to Newmark, there is now a $2 trillion maturity wall of CRE loans facing banks over the next three years. A dizzying sum. “Banks will be under pressure,” CEO Barry Gosin told the Financial Times. As the FT noted, the brokerage handled $50 billion of loan sales for the Federal Deposit Insurance Corporation after […]
by Front Section Cambridge, MA According to BioMed Realty, Takeda has leased the entire research and development project totaling 600,000 s/f in Kendall Sq. located at 585 Third St. The building is expected to be ready for occupancy in 2026 and will provide 16 stories of advanced and efficient lab office space incorporating industry-leading sustainability features. In […]
By Steven Hail For the most part, economists continue to believe a story of money told to generations of students by a series of textbooks over the past 150 years. This story asks us to imagine a pre-monetary barter economy, where people bought goods and services by trading them for other goods and services. Eventually […]
By Andrew Brinker Picture the best of what Paris has to offer, a vibrant street life in densely packed neighborhoods. One of the secrets to the city’s charm is the size of most of those graceful buildings: six stories. That idea — dense, six-story housing in abundance — is the inspiration behind a proposal from […]
