Business - Boston.com

Barrick fined $16m for Pascua-Lama violations

Fri, 24 May 2013 16:44:47 GMT

SANTIAGO, Chile (AP) — Chile's environmental regulator blocked Barrick Gold Corp.'s $8.5 billion Pascua-Lama project on Friday and imposed its maximum fine on the world's largest gold miner, citing "very serious" violations of its environmental permit as well as a failure by the company to accurately describe what it had done wrong.

Some unions now angry about health care overhaul

Fri, 24 May 2013 16:40:39 GMT

WASHINGTON (AP) — Some labor unions that enthusiastically backed President Barack Obama's health care overhaul are now frustrated and angry, fearful that it will jeopardize benefits for millions of their members.

Stocks head lower, market on track for weekly loss

Fri, 24 May 2013 16:36:09 GMT

NEW YORK (AP) — The stock market headed lower in midday trading Friday, putting it on track for its first weekly loss in a month.

APNewsBreak: Co. says it has permits to cross span

Fri, 24 May 2013 16:33:08 GMT

MOUNT VERNON, Wash. (AP) — A truck hauling a too-tall load of drilling equipment hit an overhead bridge girder on the major interstate between Seattle and Canada, sending a section of the span and two vehicles into the Skagit River. All three occupants suffered only minor injuries.

Obama: Sexual assault threatens trust in military

Fri, 24 May 2013 16:21:48 GMT

ANNAPOLIS, Md. (AP) — With a growing sexual assault epidemic staining the military, President Barack Obama urged U.S. Naval Academy graduates Friday to remember their honor depends on what they do when nobody is looking and said the crime has "no place in the greatest military on earth."

Oil falls below $94 on weak outlook for demand

Fri, 24 May 2013 16:20:04 GMT

NEW YORK (AP) — The price of oil was knocked below $94 a barrel Friday by a combination of ample supplies and lukewarm demand.

Canadian trucking company says it had permits

Fri, 24 May 2013 16:19:59 GMT

MOUNT VERNON, Wash. (AP) — The trucking company involved in a Washington state bridge collapse says it received a state-issued permit to carry its oversized load across the bridge.

World stocks lower after big sell-off

Fri, 24 May 2013 16:14:28 GMT

MOSCOW (AP) — World stocks edged lower on Friday, a day after markets around the world dropped sharply on concerns global growth is slowing and the Federal Reserve could start scaling back its monetary stimulus.

Chile blocks world's highest mine project

Fri, 24 May 2013 16:11:29 GMT

VALLENAR, Chile (AP) — Chile's environmental regulator has stopped construction and imposed sanctions on Barrick Gold Corp.'s $8.5 billion Pascua-Lama project, citing "serious violations" of its environmental permit.

UMaine unveils offshore wind data buoy

Fri, 24 May 2013 16:10:53 GMT

ORONO, Maine (AP) — A data-collection buoy that can be plopped in the ocean and used to determine the suitability of remote locations for offshore wind farms is ready for real-world testing, the University of Maine announced Friday.

Sheraton Framingham Hotel & Conference Center is getting a 40th anniversary renovation

Fri, 24 May 2013 16:10:07 GMT

The Sheraton Framingham Hotel & Conference Center, a hotel with a castle-like silhouette that is located near the Massachusetts Turnpike, is getting an $8 million renovation just in time for its 40th birthday. “A soothing color palate of blue and grey” will grace the new lobby, guest corridors, and general public space, according to Hager and Associates Inc., the interior design firm working on the project. The grand ballroom is receiving updated touches of soft greys and neutrals; with 18-foot-high ceilings, it offers the most expansive dance floor in the region. The renovations should be finished within the next few weeks. “The improved design will embrace the favorite, traditional elements of the castle-inspired hotel while incorporating modern features that create a functional and contemporary environment,” Doris Hager of Hager and Associates said.

Chile blocks Pascua-Lama mine, fines Barrick $16 million for serious environmental violations.

Fri, 24 May 2013 16:02:16 GMT

SANTIAGO, Chile (AP) — Chile blocks Pascua-Lama mine, fines Barrick $16 million for serious environmental violations.

China, Switzerland to seal free trade deal

Fri, 24 May 2013 15:49:41 GMT

GENEVA (AP) — Chinese Premier Li Keqiang is in Switzerland to seal a free trade pact with the Alpine nation — the first comprehensive agreement his country has reached with a major western economy.

Stocks head lower, market headed for a weekly loss

Fri, 24 May 2013 15:48:39 GMT

NEW YORK (AP) — The stock market is heading lower in midday trading, putting it on track for its first weekly loss in a month.

RI health insurers seek double-digit premium hikes

Fri, 24 May 2013 15:45:39 GMT

PROVIDENCE, R.I. (AP) — Rhode Island's health insurers are seeking double-digit increases in the premiums individuals and small businesses pay for coverage.

Summer travel forecast: Better, but no blowout

Fri, 24 May 2013 15:13:17 GMT

NEW YORK (AP) — The forecast for summer travel, 2013: Partly sunny.

Businessweek prods parents to boot Millenials off the couch and into a career

Fri, 24 May 2013 15:11:36 GMT

A new campaign from Businessweek encourages a gentle parental chiding, telling kids to pack up and move out. But is a lack of pop business news really the problem?

News Corp. board approves split, stock buyback

Fri, 24 May 2013 14:44:48 GMT

NEW YORK (AP) — News Corp. says its board of directors has approved plans to split its entertainment and publishing businesses into two separate companies.

IRS replaces official who revealed targeting

Fri, 24 May 2013 14:39:02 GMT

WASHINGTON (AP) — The Internal Revenue Service official who led the unit that targeted tea party groups and publicly disclosed the activity has been replaced, making her the third top IRS official moved aside since the episode was revealed two weeks ago.

Slovenia adopts debt cap to stave off crisis

Fri, 24 May 2013 14:37:33 GMT

LJUBLJANA, Slovenia (AP) — Slovenia's parliament on Friday adopted a cap on public spending to try to convince foreign investors that the small eurozone country will not need an international bailout.

Clarification: Fossil Fuels-Divestment story

Fri, 24 May 2013 14:35:06 GMT

SWARTHMORE, Pa. (AP) — In a story May 22, The Associated Press reported 72 percent of Harvard University's student body voted in favor of the school's endowment divesting from fossil fuel companies. The story should have made clear that the vote was held only among undergraduates and that of the ballots cast, 72 percent were in favor of divestment.

China gives US regulators access to audit records

Fri, 24 May 2013 14:34:59 GMT

WASHINGTON (AP) — China has agreed to give U.S. regulators access to audit records for Chinese companies whose shares trade on U.S. stock exchanges, a step forward in a long-running dispute.

Office Depot, Office Max turn to Boston Consulting Group for help with merger

Fri, 24 May 2013 14:21:44 GMT

Office Depot Inc. and OfficeMax Inc., two rivals of Framingham-based Staples Inc. in the office supply business, said that the Boston Consulting Group, a global management consulting firm, has been selected to provide integration support for the companies’ proposed merger. Earlier this year, Office Depot unveiled a $1.2 billion bid for OfficeMax — in an attempt by the smaller rivals to better compete against Staples, which is the largest office supplies chain with about 2,300 stores worldwide and 39 percent of the US market, according to IBISWorld, a market research firm. In their May 23 press release, Office Depot and OfficeMax said, “The Boston Consulting Group will be responsible for working with the management teams from both companies to help define the priorities, vision, and guiding principles of the integration process.”

Maine Senate OKs cellphone privacy bill

Fri, 24 May 2013 14:16:23 GMT

AUGUSTA, Maine (AP) — A bill aimed at protecting the privacy of cellphone users has won an initial vote of approval in the Maine Senate.

Wash. I-5 bridge collapse caused by oversize load

Fri, 24 May 2013 14:01:19 GMT

MOUNT VERNON, Wash. (AP) — A truck carrying an oversize load struck a bridge on the major thoroughfare between Seattle and Canada, sending a section of the span and two vehicles into the Skagit River below, though all three occupants suffered only minor injuries.