Big Tech Giant Amazon Hit with Antitrust Lawsuit by FTC and 17 States Including Massachusetts, Incurring Growing Legal Pressure in Spotlighted Seattle
Amazon is caught in the crosshairs of a high-stakes antitrust lawsuit, filed by the Federal Trade Commission and 17 states, alleging the e-commerce giant inflates online prices and overcharges sellers.
State Street Corp Plans to Cut 1,500 Jobs Globally in Cost-Saving Initiative Amid Leadership Changes
State Street Corp. is planning to lay off about 1,500 employees as part of a cost-cutting initiative and multiyear transformation journey, with a Q4 charge of $175-$200 million anticipated for severance costs.
CVS to Close Downtown Boston Store on Summer Street in National Streamlining Effort
CVS Pharmacy at 55 Summer St. in downtown Boston is set to close on February 7th, part of a nationwide plan to shut 900 stores. Prescriptions will be moved to 333 Washington St., and employees will be offered transfers to other locations.
Wayfair CEO Announces 13% Workforce Cuts Amidst Shift to Streamline Boston-Based Company
Wayfair CEO Niraj Shah announced a 13% workforce reduction, affecting 1,650 employees, as part of cost-cutting measures amidst a challenging market. The move is expected to save $280 million and was well-received by investors.
Danny Meyer's Union Square Hospitality Group to Open Two New Restaurants in Boston's Seaport District by 2025
Danny Meyer's Union Square Hospitality Group plans to open two new restaurants in Boston's Seaport District by 2025, offering different dining experiences and aiming to integrate with the local community.
Tom Brady Scores Business Touchdown with Boston-Based NoBull Merger, Aiming for Billion-Dollar Brand alongside Owner Mike Repole
Tom Brady merges his TB12 and Brady Brand with NoBull, post-retirement, marking a significant step in entrepreneurial ventures and positioning him as a key figure in athletic wellness.
Steward Health Care Secures Crucial Funding for Massachusetts Hospitals, Mulls Sale of Medical Centers
Steward Health Care secures bridge financing to stabilize its Massachusetts hospitals, averts immediate threat of closures, and continues to seek a significant equity partner for long-term security.
Chicago's Thoma Bravo Set to Acquire Burlington's Everbridge in $1.5 Billion Private Equity Deal
Private equity firm Thoma Bravo plans to acquire software company Everbridge for $1.5 billion, aiming for a Q2 2024 closure. Despite struggles with profitability and management changes, Everbridge is a leader in critical event management.
Uber to Lay Off 168 Boston Employees as Alcohol Delivery App Drizly Nears Last Call
Uber is laying off 168 staff from its alcohol delivery service Drizly, which it acquired for $1.1 billion. The layoffs start April 1, with Drizly shutting down by September. Some employees may join Uber's Beverage and Alcohol service.
Steward Health Care, Operator of 8 MA Hospitals, Files for Bankruptcy Amid Financial Challenges
Steward Health Care, the largest physician-led hospital operator in the U.S., has filed for Chapter 11 bankruptcy due to financial challenges and unpaid rent. The company aims to restructure debts while keeping hospitals open.
REPORT: San Francisco Still Dominates Global Startup Ecosystems; New York, Los Angeles & Boston Follow at a Distance
San Francisco and New York are leading cities in the global startup ecosystem, particularly for AI, with significant venture funding and market presence. Los Angeles and Boston follow behind Chinese cities.
Boston's Atlantico Seafood Tapas Restaurant Closes Due to Neighborhood Dynamics and Dining Shifts Post-Covid
Atlantico, a Boston seafood tapas restaurant, has closed due to neighborhood changes and post-Covid dining shifts. Its space was previously Southern Proper, and future plans remain unannounced.
End of an Era: Cucina LaRosa's in Wilmington Shuts Down After 50 Years of Serving Italian Favorites
Cucina LaRosa's, a cherished Italian restaurant in Wilmington, has closed after 50 years of service, citing rising costs and management challenges. The restaurant was known for its pizza, calzones, and pasta.
Stop & Shop Announces Strategy-Driven Closure of 8 Stores in Massachusetts Amid Northeast Consolidation Efforts
Stop & Shop is closing eight stores in Massachusetts as part of a strategic move to stimulate growth, with closures happening on or before November 2, 2024. Employees will be offered positions at other locations.
TD Bank Announces Closure of Seven Massachusetts Branches, Including Boston, Amid Digital Shift
TD Bank is closing seven branches in Massachusetts as part of a network optimization strategy, leading to an increased focus on digital banking, while still maintaining a strong physical presence in the state.
Steward Health Care to Lay Off 1,250 Employees Amidst Massachusetts Hospital Closures
Steward Health Care plans to lay off 1,250 workers due to hospital closures in Massachusetts, following approval from a bankruptcy judge to expedite the process. Local officials criticize the decision and support affected employees.
Beth Israel Lahey Health Announces Layoffs After $110 Million Loss, Expands Cancer Care and Emergency Department
Beth Israel Lahey Health is cutting jobs amid financial challenges, following a $110 million operating loss. The layoffs involve unionized nurses and mid-level managers, despite the health system's expansion plans, including a new cancer care center.
Iconic Lowell Shopping Hub Mill No. 5 Set to Close in January 2025, Community Mourns the Loss
Mill No. 5 in Lowell is set to permanently close by January 2025, leaving patrons heartbroken. The cherished indoor mall hosted a diverse array of shops and events, becoming a local community staple. The reason for the closure was not specified.
Allston's Iconic Twin Donuts to Close After Decades of Serving the Community
Twin Donuts in Allston, a local fixture since 1955, is closing due to financial pressures with escalating food costs, confirmed for March 23. The community mourns the loss of this beloved diner and its role in the area's culture.
TD Bank to Close 38 Branches Including Six in Massachusetts Amid Strategic Shift to Digital Banking
TD Bank is closing 38 branches including six in Massachusetts as part of a strategy to optimize their mix of physical locations and digital services, amidst recent challenges including a $3 billion fine for monitoring failures.
Boston's South End Sweet Spot, Madeleine's Candy Shop Thrives on Swedish Delights and Global Treats
Madeleine's Candy Shop in Boston's South End, known for Swedish candies, is gaining popularity thanks to social media buzz and a diverse global selection. Owner Madeleine Brason's career shift from STEM to candy has been met with unexpected success.
Massachusetts Businesses Brace for Economic Strain Amid New Trump Tariffs
Massachusetts businesses prepare for economic challenges due to President Trump's new tariffs, which are expected to increase costs of imported goods, impacting various industries and possibly leading to higher consumer prices and economic downturn.
Bertucci's Files for Third Bankruptcy in Seven Years, Closes Four Massachusetts Locations Amid Industry Struggles
Bertucci's, an Italian chain in Massachusetts, files for Chapter 11 bankruptcy, closing four locations amidst a shift to fast-casual dining with a new concept called Bertucci's Pronto. The company struggles with a steep decline in sales.
Danny Meyer's Union Square Hospitality to Open First Boston-Area Restaurant in Cambridge's Harvard Square
Danny Meyer's Union Square Hospitality Group is set to open its first Daily Provisions in Harvard Square, Cambridge, before expanding to Boston's Seaport District. The restaurant will offer popular NYC dishes and possibly Boston-specific items.
LEGO Group Unveils New American Hub in Boston's Back Bay, Commits $5 Million to Local Play Initiatives
LEGO opened a new hub in Boston's Back Bay, relocating from Connecticut. The company offered relocation or support to its Connecticut staff and is investing in community and education projects in Boston.
New Dual-Concept Dining Experience Tops Boston's Culinary Scene with Largest Rooftop Space at Cambria Downtown Hotel
The Essex and Essex Rooftop, a new dual-concept restaurant at the Cambria Downtown Boston Hotel, offer a West Coast-inspired menu and panoramic city views, with a focus on sophisticated dining and a vibrant rooftop experience.
Brookline Mourns Upcoming Closure of Beloved Cheese Shop Curds & Co. After 8-Year Run
Brookline Village's Curds & Co. cheese shop is closing on September 12 after failing to find a new owner. The Masons, who moved to Sicily, plan farewell events and a staff after-care fund. The community mourns the loss of this local institution.
Historic Hilliards Chocolates Set to Open New Store in West Newton, Reviving Local Sweet Tradition
Hilliards Chocolates is opening a new store in West Newton, continuing a near-century legacy of handcrafted sweets. The New England confectioner will feature chocolates, truffles, and an ice cream parlor.
"Survivor Ultimate Fan Cafe" Set to Open in Boston Ahead of Show's 49th Season Premiere
Boston is set to host the "Survivor Ultimate Fan Cafe" before the premiere of the show's 49th season, offering fans an immersive experience with themed challenges, Polynesian-fusion cuisine, and a connection to actual show contestants.
Hasbro Set to Relocate Headquarters to Massachusetts, Governor Healey Announces Job Creation Windfall
Governor Healey celebrates Hasbro's decision to relocate its headquarters from Rhode Island to Massachusetts, a move expected to create 700 jobs and emphasize the state's appeal due to its education, healthcare, and innovation sectors.
Tavern in the Square Opens First South Shore Location in Braintree, Expands Massachusetts Presence
Tavern in the Square opened a new location in Braintree, MA, marking its expansion in New England with over 20 locations. The site, formerly occupied by TGI Fridays, will offer the chain's signature local fare and ambiance.
Cambridge Welcomes Fallow Kin, New Farm-to-Table Eatery Offers Sustainable Dining on Historic Main Street
Fallow Kin, a new farm-to-table restaurant focusing on sustainability, is opening in Cambridge at the former Craigie on Main location, offering a vegetable-driven menu by industry veterans Dennehy, Ayer, and Sanchez.
Iconic Boston Wine Shop The Urban Grape Shuts Down After Failed Negotiations with Cambridge Savings Bank
Boston's The Urban Grape has closed after failing to negotiate with Cambridge Savings Bank, ending its 13-year presence and innovative contributions to the wine industry, despite community support and charitable efforts during COVID-19.
State Farm Sets Sights on Massachusetts as Insurance Powerhouse Plans to Enter Bay State Market in 2027
State Farm is set to enter the Massachusetts insurance market in 2027, planning to offer a comprehensive range of services. Despite their established national presence, this marks their full debut in the state, joining a competitive local industry.
Harvard School of Dental Medicine Shuts Down Cambridge Clinic Permanently, Patients Face Inconveniences
Harvard School of Dental Medicine has permanently closed its Cambridge clinic due to financial unviability after an electrical fire, with patients redirected to its Longwood practice, causing some inconvenience.
Hawthorne-by-the-Sea to Close After Nearly 60 Years in Swampscott Marks End of an Era
The Hawthorne-by-the-Sea restaurant in Swampscott is closing, with town officials discussing future uses of the property, including a possible short-term lease. An auction of restaurant contents is also taking place.
Quincy's Beloved 16C Restaurant to Close, Marking End of an Era for Local Culinary Scene
Kerri Lynch Delaney announced the closure of her Quincy restaurant, 16C, at the end of December through a Facebook post, while reflecting on its role in the community and her family's involvement in its operations.
Worcester's Boston Market on Park Avenue Set for Final Farewell Amid Rent Dispute and Financial Woes
The Boston Market on Park Avenue in Worcester is closing due to a rent dispute, with the last service on Sunday. The franchise owner plans a return in 2026 with a new concept. Financial challenges include past unpaid taxes and rent issues.
Alnylam Pharmaceuticals Announces $250 Million Expansion in Norton, Bolstering Massachusetts' Biotech Sector
Alnylam Pharmaceuticals is expanding its Norton biomanufacturing facility by $250 million to include its siRELIS platform, bolstering local economy and job creation, and advancing RNAi therapies for diseases like hypertension and diabetes.
Boston's Beloved Brownstone Closes After 15 Years in South End
Brownstone, a staple in Boston's South End for comfort food, has closed after 15 years. The restaurant cited industry challenges and thanked patrons and staff. Employees will have opportunities at sister venues of Glynn Hospitality Group.
