Mass. panel to study black market tobacco trade

BOSTON — A special commission charged with studying the economic fallout of the illegal cigarette and tobacco trade in Massachusetts is preparing to hold its first meeting. The commission was created by state lawmakers to determine the magnitude of...

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Harvard Square's iconic Upstairs to close

For more than three decades, it has been a fixture in Harvard Square, first as UpStairs at the Pudding and, since 2002, as UpStairs on the Square — in both its incarnations, a place that drew celebrities and locals alike for its eclectic menu and its...

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RI sales tax panel to hear from Boston researcher

PROVIDENCE, R.I. — A special task force examining ways to change Rhode Island's sales tax is set to hear from a Boston-based researcher who studies how sales taxes affect the economy. The sales tax commission is scheduled to meet Monday at the Statehouse...

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ABC and Univision's love child bursts to life

MIAMI — The long-awaited DNA exchange between ABC and Univision emerges from the test tube this month, aiming to stretch the limits of traditional network programming. The English-language television network, called Fusion, will target millennial Hispanics...

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Growing Cape OysterFest charges fee for first time

WELLFLEET, Mass — The Wellfleet OysterFest has a new feature this year that might be unwelcome: People have to pay to get in. The Cape Cod Times reports (http://bit.ly/1atTl36) that for the first time ever people will be charged to get into the festival...

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Boston hospitals get $12M NIH grant

Two local hospitals are using a federal grant to form the Boston Biomedical Innovation Center, the latest effort by nonprofit hospitals to play a role in transforming medical research into commercially viable products. The seven-year, $12 million grant...

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HSBC unit ordered to pay $2.46B, plans to appeal

NEW YORK — A division of Europe's HSBC bank has been ordered to pay about $2.46 billion in a class action lawsuit claiming that it violated federal securities laws. The lawsuit named consumer mortgage lender Household International Inc., which is now...

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Facebook to profit, but teens pay cost

Facebook has just made it a bit easier for members of Generation TMI to mess up their lives. Mark Zuckerberg & Co. 
announced Tuesday that teens are now allowed to post public updates and photos to their Facebook profiles. This is due to two undeniable...

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The Ticker

Boston Scientific to pay $30M to feds The Justice Department said Boston Scientific Corp. and its Guidant subsidiaries will pay $30 million to settle allegations that Guidant knowingly sold defective heart devices that health care facilities implanted...

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Downtown evolves as a neighborhood

No longer do the sidewalks roll up after 6 p.m. in the Financial District. The Hub will see twice the number of new housing units during this cycle than it did last cycle. And it is well-positioned to absorb the housing spurt, as there is a shift toward...

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Bankers urge fed help with flood ins. regs

New legislation to cap the amount of flood insurance lenders can require could help homeowners with small mortgages, but ultimately a solution to the dramatic increases many face due to the Federal Emergency Management Agency's new flood zone maps must...

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Budget battles bad for business

Even though there's a short-term deal to reopen the government and raise the debt ceiling, the never-ending cycle of budget fights are hurting consumer confidence and creating uncertainty about the economy, business leaders and an economist said. "All...

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White House: Furloughed workers can return to work

WASHINGTON — The federal government is back open for business. The Obama administration changed the government's status to "open" early Thursday, more than two weeks after a partial shutdown took hold when funding from Congress ran out. Minutes after...

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SF Bay Area trains run as strike talks drag on

OAKLAND, Calif. — The contentious talks between the San Francisco Bay Area Rapid Transit agency and its two largest unions have dragged on for six months — a period that has seen a chaotic dayslong strike, a cooling-off period and frazzled commuters...

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US unemployment aid applications drop to 358,000

WASHINGTON — Applications for US unemployment benefits dropped 15,000 to a seasonally adjusted 358,000 last week, though the figure was distorted for the second straight week by California's efforts to clear backlogged claims. The partial government...

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Passengers: Explosion, flames seen on Spirit jet

GRAPEVINE, Texas — Passengers aboard a Spirit Airlines jet en route to Atlanta say they heard an explosion and saw flames before the plane safely returned to Dallas-Fort Worth International Airport. Passenger Fred Edwards told WGCL-TV  in Atlanta...

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Buffett says allowing US default would be idiocy

OMAHA, Neb. — Billionaire Warren Buffett said Wednesday it would be idiocy for the nation's leaders to allow the United States to default on its bills. Buffett is a renowned investor who leads the Berkshire Hathaway conglomerate. He appeared Wednesday...

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JPMorgan pays $100M, admits fault in London trades

WASHINGTON — JPMorgan Chase & Co. has agreed to pay a $100 million penalty and admitted that it "recklessly" distorted prices during a series of London trades that ultimately cost the bank $6 billion in losses. The settlement announced Wednesday...

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Markets cling to belief in US debt deal

LONDON — Financial markets clung to the hope that the U.S. will avoid a default, even though a deadline to raise the country's debt ceiling is just hours away. Though stocks edged lower Wednesday in Europe, they rose on Wall Street — which recovered...

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Springleaf shares rises after $336.7M IPO

NEW YORK — Shares of Springleaf Holdings jumped Wednesday morning after the lender expanded its initial public offering, selling $336.7 million in stock. Springleaf expanded its IPO to 21 million shares from 20 million and said the offering priced at...

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High court will review EPA global warming rules

WASHINGTON — The Supreme Court agreed Tuesday to decide whether to block key aspects of the Obama administration's plan aimed at cutting power plant and factory emissions of the gases blamed for global warming. The justices said they will review a unanimous...

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Alitalia shareholders approve capital increase

MILAN — Shareholders in the Alitalia airline have agreed to a 300 million-euro ($400 million) capital increase to save Italy's flagship carrier from bankruptcy. It is still unclear which shareholders will contribute. The airline said in a statement...

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Troubled telecoms: Alcatel-Lucent job cut protest

PARIS — Wearing black trash bags marked with crosses, more than a thousand Alcatel-Lucent workers marched to the Eiffel Tower on Tuesday, staging a mock funeral that the chief executive warned could easily become a reality for a company with its roots...

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Court to hear appeal over gun buying conviction

WASHINGTON — The Supreme Court will decide whether a Virginia man should have been convicted of being a "straw purchaser" after buying a gun in-state and selling it to his uncle in Pennsylvania. The high court on Tuesday agreed to hear an appeal from...

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Maine ranked No. 29 in business tax climate index

PORTLAND, Maine — Maine is being ranked in the middle of the pack in a new ranking of states' business tax climates. The Tax Foundation's 2014 Business Tax Climate Index ranks Maine 29th, the same as last year. The index, which was released last week,...

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Greece eyes bond rollovers to cover financing gap

ATHENS, Greece — Greece's finance minister says the debt-hobbled country can cover a shortfall in its short-term financing needs by rolling over bonds held by European central banks and domestic lenders. Yannis Stournaras says the 11 billion-euro ($15...

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Microsoft's phone update to feature driving mode

NEW YORK — Microsoft is updating its Windows software for cellphones to accommodate larger devices and make it easier for motorists to reduce distractions while driving. It's the third update to Windows Phone 8 software since the system's release a...

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3 Americans win economics Nobel for trend-spotting

STOCKHOLM — Three Americans won the Nobel prize for economics on Monday for developing methods to study trends in stock, bond and house prices — work that has changed the way people invest. Eugene Fama showed in the 1960s how hard it is to predict markets...

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Markets drift as debt ceiling deadline looms

LONDON — Three days from a deadline to increase the U.S. debt ceiling, investors were fidgety Monday and stocks drifted lower. The U.S. has to increase the amount of debt it can carry by Oct. 17 or face a possible default on its debt, a scenario that...

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High court weighs Mich. ban on affirmative action

WASHINGTON — After the Supreme Court ruled a decade ago that race could be a factor in college admissions in a Michigan case, affirmative action opponents persuaded the state's voters to outlaw any consideration of race. Now, the high court is weighing...

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Social Security raise to be among lowest in years

WASHINGTON — For the second straight year, millions of Social Security recipients, disabled veterans and federal retirees can expect historically small increases in their benefits come January. An Associated Press analysis of preliminary figures suggests...

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Shutdown impact: A few national parks reopen

The government shutdown continues with some hope for those who would like to visit the nation's national parks: The Obama administration said it would allow the states to use their own money to pay for park operations and Utah jumped at the chance. ...

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Hope remains for global recovery beyond US impasse

WASHINGTON — Worries about a possible U.S. debt default cast a pall over weekend meetings of global financial leaders in Washington. But they ended with some hope over signs that the U.S. and European economies are pulling out of long slumps. During...

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Many Mass. towns wary of medical pot outlets

BOSTON — Voters convincingly backed a state law that allows marijuana to be used by people with debilitating medical conditions such as cancer, multiple sclerosis and Parkinson's disease. Yet many communities now appear hesitant to open their borders...

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Furloughed workers pinching pennies, volunteering

They're experienced research engineers and park rangers still in college, attorneys who enforce environmental regulations and former soldiers who took civilian jobs with the military after coming home from war. And all of them have one thing in common:...

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