In early 2020, Steven Paynter saw an opportunity. The principal at international architecture firm Gensler had spent a lot of time thinking about resiliency in architecture, focusing on making larger buildings out of wood rather than concrete and steel. But the pandemic, and the glut of empty office space it brought with it, presented a new opportunity […]
The state’s largest startup accelerator is opening its doors to tech workers who have been recently laid off and are interested in giving entrepreneurship a shot. MassChallenge CEO Cait Brumme said in an interview last week that her team has been watching the day-by-day announcements around downsizings within the tech sector, which in recent weeks have impacted thousands […]
The sharp decline in office building values is likely to become a growing problem for the budgets of cities, schools and other jurisdictions that depend heavily on property taxes from these building owners. Most municipal budgets haven’t suffered much yet. For a variety of reasons, declines in property values typically take years before they are […]
United Airlines is pushing a big pile of chips into the middle of the table on its bet that there will be a full recovery of international travel—by Americans—in 2023. Unfortunately for the US hotel and hospitality industry, the surge in Americans traveling to Europe may be a one-way street in terms of tourism, as […]
While there is no single answer, one strategy to reduce the racial wealth gap is to motivate more Black people to found technology companies in targeted market sectors. Jeff Bussgang, a partner at Flybridge Capital Partners and professor at Harvard Business School, stresses the importance of innovation waves — emerging industries that tend to attract […]
The U.S. budget deficit was sliced in half for fiscal 2022, the biggest drop in history following two years of huge Covid-related spending. Though still large in historical terms, the budget shortfall declined to $1.375 trillion, compared to the 2021 deficit of $2.776 trillion. The decline would have been steeper had it not been for […]
ProPublica is a nonprofit newsroom that investigates abuses of power. Sign up to receive our biggest stories as soon as they’re published. On a summer day last year, a group of real estate tech executives gathered at a conference hall in Nashville to boast about one of their company’s signature products: software that uses a mysterious algorithm […]
FRANKFURT—The world’s central banks face a nail-biting wait. They have raised interest rates this year at the fastest pace in decades. But those hikes work with what economists call “long and variable” lags so central banks might not know for years if they have tightened too much, or not enough. Why the lag? Interest-rate changes filter through […]
Inflation and fast-rising interest rates are taking their toll on commercial real estate transactions in Greater Boston. Real estate investors bought $4.6 billion in commercial properties in the Boston metro area in the third quarter, a 27% decline from the same three-month period in 2021, according to new data from MSCI Real Assets. It’s only […]
MetLife Investment Management has completed its $103 million purchase of Burlington BioCenter, a 109,085-square-foot life science research and pharmaceutical manufacturing facility in Burlington, Mass. Public records show MetLife financed the acquisition with a $54.4 million loan from Northwestern Mutual. Newmark represented the seller, a joint venture between The Gutierrez Company and GEM Realty Capital, and procured the buyer. The partnership had […]
