Archive for July 2023

Shares of the company formerly known as Raytheon Technologies tumbled Tuesday after the company disclosed a manufacturing defect that could reduce the lifespan of its Pratt & Whitney jet engines. Read More

Cash used to be king, but most diners now pay their bill with a credit or debit card, and restaurateurs told lawmakers Monday that the habit is squeezing their already-thin profit margins. Read More

The Wilmington robotics company Symbotic is partnering with investment firm Softbank to create a joint venture that will buy $7.5 billion worth of robotics systems from Symbotic. Read More

Wellesley-based F.L. Putnam Investment Management Co. continues to expand, recently acquiring Aurora Financial Group, LLC, an independent registered investment advisor based in Portland, Maine. Read More

UPS and the International Brotherhood of Teamsters, the union representing about 330,000 UPS employees in the U.S., have reached a tentative collective bargaining agreement. Read More

GE stock soared Tuesday as the company posted better-than-expected results from its soon-to-be Cambridge based energy division, GE Vernova. Read More

Biogen Inc. is making sweeping cuts again as it works to offset declining revenue from generics. Read More

Santander has laid off its head of commercial banking, Joe Abruzzo, as it reorganizes its U.S. business. The Boston-based bank will be consolidating its commercial banking business with its commercial real estate business and vehicle-financing businesses. Read More

Unlike conventional camera systems, Ubicept says its new technology can capture sharp images in extreme lighting conditions or high-speed motion. Read More

Citizens across the United States could see a 3% increase in their Social Security cost-of-living adjustment (COLA) in 2024, according to a report from the Senior Citizens League. Read More