Boston, MA

At Boston Chamber, Mariano outlines plans for tax relief – The Boston Globe

Published

2 years ago

May 26, 2022

Press Room

At Boston Chamber, Mariano outlines plans for tax relief – The Boston Globe

PHILANTHROPY

Moderna’s CEO says he plans to present away most of his cash

Stephane Bancel, CEO of Cambridge biotech Moderna, stated he plans to donate the majority of his household wealth, focusing his philanthropy on points reminiscent of well being care and world meals safety. “We’ve instructed the children that they get schooling, we maintain that,” Bancel stated in an interview on the sidelines of the World Financial Discussion board in Davos, Switzerland. “They’ll get the household home, you recognize. However the remaining we’re going to present away.” Bancel, 49, stated earlier this week that he plans to train a few of his Moderna inventory choices over the course of in regards to the subsequent 12 months and promote the shares, donating the proceeds. That would generate about $355 million for charity, he stated. The CEO has an estimated web price of $4.1 billion. Bancel holds a 1.36 % stake in Moderna, based on knowledge compiled by Bloomberg, after lowering his holding by about one-sixth for the reason that finish of the primary quarter final 12 months. The COVID-19 vaccine maker’s inventory soared to a excessive of practically $500 a share in August earlier than shedding worth amid concern about whether or not vaccine orders would maintain tempo. Your complete biotech sector has declined over that point interval as nicely. ― BLOOMBERG NEWS

REAL ESTATE

US residence sellers reducing costs hits highest degree since 2019

The variety of residence sellers reducing costs has reached the very best degree since October 2019, the most recent signal that the housing market is slowing from its once-frenzied pandemic tempo. Practically one in 5 sellers dropped costs throughout the four-week interval ended Could 22, Redfin Corp. stated in a report Thursday. Different measures of how sizzling the market is, together with a home’s time on market and the proportion of houses promoting above itemizing worth, have additionally plateaued. Shoppers are contending with a few of the highest mortgage charges in years, regardless of the dip in these figures previously two weeks. Larger charges, coupled with financial uncertainty, are elevating questions on whether or not the US housing increase has met its restrict with indicators rising that the once-intense tempo of the market may very well be decelerating. “The image of a softening housing market is turning into extra clear, particularly to residence sellers who’re more and more turning to cost drops as patrons grow to be extra cost-conscious beneath increased mortgage charges,” Daryl Fairweather, Redfin’s chief economist, stated in an announcement. ― BLOOMBERG NEWS

ENVIRONMENT

The Supreme Court docket on Thursday allowed the Biden administration to make use of the next estimate, challenged by Republican-led states, for calculating damages to folks and the setting from greenhouse fuel emissions. The justices didn’t remark in refusing to place again in place an order from a federal choose in Louisiana that had blocked the administration from placing larger emphasis on potential harm from greenhouse fuel emissions when creating guidelines for polluting industries. The strategy makes use of the “social value of carbon” to calculate future local weather damages to justify more durable restrictions for fossil fuels, transportation, and different industries. The federal appeals courtroom in New Orleans put the order on maintain and Louisiana led 9 states in asking the excessive courtroom to in to intervene. The justices’ refusal to take action permits the administration to make use of an interim normal of $51 in damages per ton of carbon dioxide emitted whereas it really works to replace and presumably improve the price per ton. The $51 determine was utilized by the Obama administration earlier than the Trump administration lower it to $7. ― ASSOCIATED PRESS

PUBLISHING

Publication platform Substack drops efforts to boost cash

Substack, the ballyhooed e-newsletter platform that has lured distinguished writers with the promise of cashing in on their relationships with readers, has dropped efforts to boost cash after the marketplace for enterprise investments cooled in current months, based on folks with information of the choice. Substack held discussions with potential buyers in current months about elevating $75 million to $100 million to fund the expansion of its enterprise, stated the folks, who would communicate solely anonymously as a result of the talks have been personal. Among the fund-raising discussions valued the corporate at $750 million to $1 billion, they stated. The choice is one other signal of the stark shift from the current years of free-flowing money for younger startups, notably buzzy, consumer-facing ones reminiscent of Substack, which has raised a minimum of $86 million over three rounds of funding, based on PitchBook, which tracks funding. A Substack spokesperson, Lulu Cheng Meservey, declined to touch upon the corporate’s financials or any funding conversations. She stated the corporate continued to be in progress mode, pointing to a webpage with greater than a dozen job listings, together with a head of progress. ― NEW YORK TIMES

ENERGY

White Home inquires about restarting some oil refineries

The Biden administration is reaching out to the oil business to inquire about restarting shuttered refineries, because the White Home scrambles to handle report high-gasoline costs which might be setting off political alarm bells forward of the midterm elections. Members of the Nationwide Financial Council and different officers have inquired inside the business about elements that led some refining operations to be curtailed and if plans are underway to restart capability, an individual aware of the matter stated. The individual, who wasn’t approved to talk on the report, added that no direct ask to restart operations was made. The White Home didn’t instantly reply to a request for remark. The administration’s efforts come as the common worth of a gallon of standard unleaded gasoline stood at a report $4.60 Wednesday, simply because the summer time driving season is ready to start. ― BLOOMBERG NEWS

TECHNOLOGY

Microsoft to sluggish hiring in Home windows, Workplace, Groups teams

Microsoft Corp. will sluggish hiring in its Home windows, Workplace, and Groups chat and conferencing software program teams, citing a have to realign staffing priorities because it approaches a brand new fiscal 12 months in a time of worldwide financial uncertainty. All new hires should be authorized by government vp Rajesh Jha and his management workforce, Jha instructed staff in an e-mail Thursday, a Microsoft spokesperson stated. These teams have expanded just lately and the corporate desires to ensure it’s making the suitable hires in the suitable locations, the spokesperson stated. The slowdown will not be companywide, and total the software program maker will proceed to rent, the spokesperson stated, noting that such warning is typical in durations of financial volatility. Different massive know-how corporations have been slowing or freezing hiring previously a number of months as shares plummet and fears of an financial recession escalate. Chipmaker Nvidia stated it expects to decelerate hiring within the second half of fiscal 2023, and firms reminiscent of Meta Platforms, Snap, and Salesforce have taken comparable steps. Earlier this month, Microsoft stated it is going to practically double its finances for wage will increase and increase inventory grants with the intention to higher retain key employees. ― BLOOMBERG NEWS

Source link

Boston, MA

People from across the country travel to Boston for 4th of July

Published

2 hours ago

July 3, 2024

Press Room

People from across the country travel to Boston for 4th of July – CBS Boston

Watch CBS News

The 4th of July festivities have already begun in Boston with a firework show in Christopher Columbus Park on Tuesday. WBZ’s Juli McDonald reports.

Source link

Boston, MA

Boston College Basketball Announces First Matchup in Cayman Islands Classic

Published

9 hours ago

July 2, 2024

Press Room

Boston College Basketball Announces First Matchup in Cayman Islands Classic

A little over two weeks ago, news broke that the Boston College men’s basketball team would be headed to the Cayman Islands from Nov. 24-26 to compete in the 2024 Cayman Islands Classic.

The Eagles are one of eight teams competing, as they join Boise State, Duquesne, Hampton, High Point, Missouri State, Old Dominion, and South Dakota State.

On Tuesday, it was revealed that BC’s first matchup will take place on Nov. 24 against Old Dominion at 7:30 p.m. ET at John Gray Gymnasium on Grand Cayman Island. It will mark the first time the two teams have met on the hardwood. The Eagles will face either Missouri State or High Point in the second round.

First-round games on the other side of the bracket include Hampton vs. Boise State and South Dakota State vs. Duquesne.

Here’s a picture of the full bracket:

2024 Cayman Islands Classic Bracket / Obtained from the Cayman Islands Classic’s website

BC logged a 20-16 record last season, which ended with a loss to UNLV in the second round of the NIT Tournament. The Monarchs closed 2023-24 with a record of 7-25, which was last in the Sun Belt Conference. Old Dominion’s season ended in the first round of the Sun Belt tournament with an overtime loss to Texas State.

“We are looking forward to participating in the Cayman Islands Classic,” Eagles head coach Earl Grant said when BC first learned it would be in the tournament. “This will provide our program with a great experience early in the season, competing against an outstanding tournament field in a beautiful setting on Grand Cayman.”

This will be the eighth tournament in the Classic’s history which started in 2017, however did not have an event in 2020 or 2021. Boston College will compete in the event for the first time in its history.

“We are thrilled to host the participating teams for the sixth annual Cayman Islands Classic,” said The Honorable Kenneth Bryan, Minister for Tourism and Transport in the same press release. “This event not only showcases top-tier collegiate basketball but also highlights the Cayman Islands as a vibrant destination for sports tourism.”

Source link

Boston, MA

As summers become hotter, Boston moves to implement its heat resilience plans

Published

16 hours ago

July 2, 2024

Press Room

As summers become hotter, Boston moves to implement its heat resilience plans

For much of the country, this past June was hot — sometimes dangerously hot. In Boston, record-setting temperatures and the heightened risk of heatstroke prompted the city to declare a heat emergency, end school days early and open cooling centers. As heat waves become more common in the region, city officials have created a plan to prepare our infrastructure and communities for the hotter days ahead. GBH’s All Things Considered host Arun Rath discussed Boston’s heat resilience plan with Zoe Davis, a climate resilience project manager with Boston’s Environment Department, and Matt Kearney, the deputy chief of the Office of Emergency Management. What follows is a lightly edited transcript.

Arun Rath: To start off, we’re already seeing the effects of climate change in the city, right? It’s not our imagination. It feels that summers have been getting much, much hotter.

Zoe Davis: That is definitely true. In the city of Boston we have historically had about ten days over 90 degrees in Boston’s more recent history. But due to the impacts of climate change, we are expecting to see more days over a 90-degree threshold and even more days of chronic heat, which are days over 80 degrees.

Rath: In terms of the city specifically, we hear this term that Boston is a “heat island.” Can you talk about what that means and how different communities in the city might experience heat waves differently?

Davis: So, relative to the state of Massachusetts, the Greater Boston area and Boston itself is considered to be a heat island because it’s hotter than the surrounding area. So we do say that the city of Boston is itself a heat island, but within the city there are these temperature hotspots: areas that are within the city that are hotter than others. So some of these areas are typically areas of higher building density, areas where there’s expansive roadway or dark hardscape. These often follow our transportation corridors, areas where there’s large buildings. Then areas that are cooler in the city, by contrast, are parks, typically, and also along the coastline edge and areas that are near bodies of water.

Rath: Matt, how is the city preparing for this? Something that that goes beyond what we’re used to preparing for.

Matt Kearney: Yeah, it takes a whole city approach. So on the Emergency Management side, our work is looking at the short-term response, [to] this heat that’s occurring earlier in the year and later in the year. I know we declared a heat emergency in September last year, which is uncommon. So it’s on us to work with the Environment Department, Boston Planning Development Agency and all the other stakeholders that are taking these long-term projections, and getting a sense of where those resources are needed now in the city. So we’re taking a look at these heat islands that we know are impacting certain neighborhoods, ensuring that they have the adequate cooling resources, as well as other resources that we can make available to those residents because their neighborhoods are hotter than other areas within the city.

Rath: Other sorts of adaptations we’ve been making to climate change from energy conservation to cleaner forms of energy have obvious other benefits. Aside from the direct ones we’re talking about when we’re upgrading infrastructure for heat resilience, are there other additional side benefits to doing that as well?

Davis: Yes. We look at co-benefits of integrating heat resilience broadly. So for example, when we’re thinking about integrating heat resiliency to our roadway infrastructure, there are opportunities to also integrate green infrastructure, which then can have a positive impact on how we are managing stormwater. There’s also elements in this example of making sure to integrate elements around safety, wayfinding and accessibility. I think, similarly, when we’re thinking about improvements to our buildings — as you had mentioned, integrating energy efficient elements into our buildings, as well as coordinating that with decarbonization efforts — is a part of a holistic approach to being climate-resilient, which includes heat resilience as well.

Source link