Cloudy
62°
Cloudy
Hi 66° | Lo 50°

Business

Redemptions at Pimco After Gross’ Resignation

Tuesday, September 30, 2014

New York — Pacific Investment Management Co.’s Chief Executive Officer Douglas Hodge said the firm is expecting and is ready for client redemptions following the departure of co-founder Bill Gross. In a conference call with analysts where he was joined by top executives at Pimco parent Allianz SE, Hodge said management changes have triggered reviews with some clients and that it’s too early to estimate redemptions at the Newport Beach, …

Air Traffic Sabotage Impact Could Be in the Millions

Tuesday, September 30, 2014

Chicago — The economic impact of a sabotaged radar center near Chicago that struck at the heart of the nation’s air transportation grid will easily soar into tens of millions of dollars and perhaps hundreds of millions, experts say. The impact on some 44,000 passengers alone has already climbed near $30 million, according to masFlight, an aviation operations data firm. And that doesn’t …

Dogfish Still Abundant Off East Coast

Monday, September 29, 2014

Portland, Maine — The stability of the dogfish population off the coast of New England is not in jeopardy despite a recent survey that found less of the fish off of Maine and New Hampshire than previous years. The little sharks, which range from Labrador to Florida and are most abundant from Nova …

Americans Underplay CEO Pay Gap

Sunday, September 28, 2014

Americans might think they know how bad inequality is, but it turns out they have almost no idea. A new study conducted at Harvard Business School found that Americans think CEOs make roughly 30 times what the average worker makes in the United States, when in actuality they …

Middle-Class Squeeze

Sunday, September 28, 2014

Washington — Three years ago, Jason Prosser was stunned to discover the cost of child care for his newborn son — so much so that he and his wife postponed having a second child. The day care center …

How Costs Have Surged for American Families

Sunday, September 28, 2014

The Associated Press The picture painted by a report from the Center for American Progress released last week is a gloomy one. For a typical married couple with two children, the combined cost of health care, day care, …

No Easy Fix for Slumping Sales At McDonald’s

Sunday, September 28, 2014

McDonald’s probably won’t be sorry to see 2014 come to a close. The world’s largest restaurant company has posted three consecutive months of declines in global sales at long-standing locations, its longest such slide since early 2003. McDonald’s itself, under the leadership of CEO Don Thompson since July …

Wheels: Proof That Fast Need Not Be Furious

Sunday, September 28, 2014

New York — It was a deep baritone, pleasant in its resonance, powerful without being bullying or intimidating. The car’s exhaust note became a throaty growl with increased pressure on its accelerator pedal. Still, there was nothing mean …

Nuts & Bolts: 2015 Dodge Challenger SRT 392

Sunday, September 28, 2014

Bottom line: I’ll take the Challenger over competitive American muscle cars — Chevrolet Camaro, Ford Mustang — any day. The Challenger may not be as fast, or handle as sharply. But overall it is a much better automobile — more accommodating for five people, as fast as anyone …

Bleak Future for Horse Racing

Sunday, September 28, 2014

Boston — New England’s storied thoroughbred racing industry looks like it’s trotting to a close. Suffolk Downs, the region’s lone remaining track, is shutting down this year, a victim of changes in a gambling industry that now revolves …

Money Talk: Pay Off Pricey Credit Card Debt First

Sunday, September 28, 2014

Question: I have $8,000 in savings. Should I use it to pay the accrued interest on federal student loans that go into repayment soon? Or should I pay credit card debts of $662 at 11.24 percent, $3,840 at 7.99 percent and $3,000 at 6.99 percent? Answer: Pay off …

Stocks End Week With a Surge

Sunday, September 28, 2014

New York — Good economic and corporate news helped the stock market stage a rebound at the end of a turbulent week of trading. Nike jumped after turning in higher profits, leading the Dow Jones industrial average higher. The Standard & Poor’s 500 index, the benchmark for most …

More Mortgage Lenders Accused of Discrimination Against Pregnant Couples

Sunday, September 28, 2014

Washington — The couple, who had just had twins, thought everything was on track when their mortgage application was approved and the closing for their new Virginia home was scheduled. But when the lender — FirstBank — learned that the wife was on maternity leave, it reversed its …