By Jeanna Smialek Federal Reserve officials left interest rates unchanged in their final policy decision of 2023 and forecast that they will cut borrowing costs three times in the coming year, a sign that the central bank is shifting toward the next phase in its fight against rapid inflation. Interest rates are now set to a range […]
By Charlotte LoBuono The Massachusetts Biotechnology Council, the nation’s oldest biotech trade association, released its 2023 Industry Snapshot on September 6. The report found that biotech and pharmaceutical companies in Massachusetts added more research and development and biomanufacturing jobs than in most other states in 2022. The biopharma R&D workforce in Massachusetts had a year-over-year growth rate of 8.5% […]
By Justin Lahart Inflation has been cooling, and a big part of why is that rent increases have as well. That is also why inflation is likely to keep going lower in the months ahead. Tuesday’s inflation report from the Labor Department showed that overall consumer prices were up 3.2% from a year earlier in October, while […]
By Greg Ryan Massachusetts is building significantly less housing than it was in the mid-20th century. Not coincidentally, the median home sale price has nearly doubled in the past decade to $600,000, far outpacing income growth. More people are leaving Massachusetts for other states than are moving here. Those problems are what the MBTA Communities zoning […]
By Greg Ryan Procter & Gamble revealed Tuesday it would move Gillette’s century-old South Boston manufacturing operations to the company’s Andover property, opening up as many as 31 acres on Fort Point Channel to redevelopment. Cincinnati-based P&G (NYSE: PG) plans to maintain the headquarters for the Gillette business and roughly 750 corporate, research and engineering employees […]
By Meera Raman The CEO and president of Cambridge Savings Bank, which recently cracked the top ten list for largest banks in Massachusetts, told staff he plans to retire after over decade in the position. Wayne Patenaude recently announced his retirement internally to the company, the bank confirmed. “We are immensely grateful for Wayne’s exceptional leadership and […]
By Jess Aloe GE is aiming to complete its spin off of GE Vernova in the beginning of the second quarter of 2024. When the split is complete, shares of Cambridge-based GE Vernova will be listed on the New York Stock Exchange under the symbol ‘GEV,’ while shares of Ohio-based GE Aerospace will continue to trade […]
By Lucia Maffei The company formerly known as Raytheon is selling its Dulles, Virginia-based cybersecurity business for approximately $1.3 billion. RTX Corp. (NYSE: RTX) said in its earnings report Tuesday it has entered into a definitive agreement to sell the cybersecurity, intelligence and services business within its Raytheon segment. The sale price is subject to regulatory […]
https://www.bisnow.com/author/miriam-hall-128140 Van Leeuwen Ice Cream co-founder Ben Van Leeuwen joins us for a candid episode, discussing the New York City-based chain’s expansion, how it has handled inflation, and why American consumer habits are perfectly aligned with expensive, high-end ice cream. “In 1980, the average food spend out of home in the U.S. was 20 cents on the dollar. In 2020, […]
By Greg Ryan Astellas Pharma Inc. has agreed to take space on two floors of the newest lab building in the massive Cambridge Crossing mixed-use development, one of the region’s largest lab leases this year. The Japanese pharmaceutical giant will occupy about 62,000 square feet at 441 Morgan Ave., a 10-story building whose core and shell […]
