FRIDAY, SEPTEMBER 20, 2019 The Boston Globe Business B
TALKING POINTS
GOVERNMENT Agenda
CONVENTION CENTER
AUTHORITY APPROVES
SALE OF HYNES,
EXPANSION OF BCEC
The Massachusetts Convention Center
Authority’s board of directors on Thursday took
a few big steps toward expanding its flagship
facility in South Boston and selling its Hynes
Convention Center in the Back Bay to help pay
for the $500 million expansion. The board took
three separate votes: authorizing the staff to
seek bids to design the Boston Convention &
Exhibition Center expansion; approving the sale
of the Hynes, pending the Legislature’s
approval; and giving land behind the BCEC back
to the city that won’t be used for the expansion. The board votes were all but preordained
after the board’s executive committee took similar votes on Monday. — JON CHESTOGROCERY STORES
STOP & SHOP AND
HANNAFORD OWNER
VOWS CURBS ON
TOXIC CHEMICALS
Grocery conglomerate Ahold Delhaize USA became the latest supermarket group to promise
restrictions for the use of toxic chemicals known as PFAS and BPA in products sold in its
stores. The Ahold Delhaize group covers about 2,000 stores in the United States and
includes the Stop & Shop and Hannaford chains. Environmental activists praised the move,
but also said the company declined to fully disclose its restricted substance list or set a clear
public time frame for implementing its restrictions. Other chains that have taken steps to
eliminate PFAS from food packaging include Whole Foods and Trader Joe’s. — JON CHESTOINDUSTRY
GE’S OFFSHORE WIND
TURBINE HAS ITS
FIRST CUSTOMER
General Electric’s massive new Haliade-X offshore wind turbine has its first customer.
Boston-based GE signed its first supply agreement for the 12-megawatt turbine, the largest
offshore turbine on the market, with Orsted, a Danish company whose US headquarters is
also in Boston. Orsted has selected GE’s technology as the preferred option for use in
projects off the coasts of Maryland and New Jersey. — JON CHESTOGOVERNMENT
FED TO INJECT
LIQUIDITY INTO THE
FUNDING MARKETS
FOR A FOURTH DAY
The Federal Reserve is set to add liquidity to a vital corner of the funding markets for a
fourth straight day on Friday amid signs that the stress seen earlier in the week is
rebuilding. The New York Fed said it will once again inject as much as $75 billion on Friday
through an overnight repo operation. It follows liquidity doses of the same size Thursday
and Wednesday and $53.2 billion on Tuesday. The prior actions have helped calm the
funding market, with repo rates declining to more normal levels after soaring to 10 percent
Tuesday, four times last week’s levels. — BLOOMBERG NEWSINTERNATIONAL
APPLE FALLS FROM
FAVOR IN CHINA IN
WAKE OF TRADE WAR
The trade war is taking its toll on Apple Inc., a new survey of Chinese
consumer attitudes shows. The company tumbled to No. 24 in an annual
report on China’s top brands, falling from No. 11 a year ago. In 2017, before
the trade war started, Apple was fifth in this ranking. Meanwhile, Apple’s
biggest local rival, Huawei Technologies Co., climbed two spots and came in
second, behind only Chinese payment service Alipay. — BLOOMBERG NEWSCLIMATE
AMAZON SIGNS
PLEDGE TO REACH
NET ZERO CARBON
BY 2040
Amazon will become the first signatory of the newly formed ‘‘Climate Pledge,’’ a pact
announced by company founder and chief executive Jeff Bezos on Thursday to meet the
goals of the Paris climate agreement 10 years early. Speaking with former United Nations
climate chief Christiana Figueres, Bezos said the agreement would require signatories to
measure and report their emissions on a regular basis. The pledge would require
companies to implement decarbonization strategies in line with the Paris agreement and
calls on signatories to be at net zero carbon across their businesses by 2040. Any remaining
carbon emissions would be neutralized with quantifiable and permanent offsets to achieve
the pledge’s goal. Bezos’s announcement came a day before more than 1,000 Amazon
employees plan to walk off the job to protest the company’s track record on environmental
responsibility. The walkout is part of the larger global climate strike that includes more
than 800 events in the United States alone. — WASHINGTON POSTENERGY
LARGEST OFFSHORE
WIND PROJECT
PROPOSED OFF
THE VIRGINIA COAST
Dominion Energy announced plans Thursday to seek approval to build what it says would
be the largest offshore wind project in the United States off the Virginia coast. The company
said the project would include about 220 wind turbines in federal waters it has already
leased 27 miles off Virginia Beach. If approved as proposed, Dominion says the
approximately $7.8 billion project would produce more than 2,600 megawatts of wind
energy by 2026, enough to power 650,000 homes. — ASSOCIATED PRESSINDUSTRY
US STEEL’S STOCK
PLUNGES ON WIDER-
THAN-EXPECTED LOSS
US Steel Corp. shares plunged the most in more
than a year after the company said it expects to
report a wider loss than analysts were expecting,
the third American steelmaker in three days to
warn on their outlook. The Pittsburgh-based
company cited weakening markets for flat-rolled
steel and tubular products for the energy industry.
It expects an adjusted loss of 35 cents a share this
quarter, according to a statement Wednesday,
compared with the average analyst estimate for a 6-cent loss. — BLOOMBERG NEWSREAL ESTATE
HOME SALES
UP IN AUGUST
US home sales rose 1.3 percent in August to the highest level in 17 months, as mortgage
rates near historic lows have spurred a rush of home-buying. The National Association of
Realtors said Thursday that homes sold last month at a seasonally adjusted annualized rate
of 5.49 million units, the best performance since March 2018. Sales have increased 2.
percent from a year ago. — ASSOCIATED PRESSMORTGAGES
RATES RISE,
THOUGH STILL LOW
Long-term mortgage rates shot up this week, yet they stayed close to the historic lows that
appear to be helping the real estate market. Mortgage buyer Freddie Mac says the average
rate on the 30-year, fixed-rate mortgage increased to 3.73 percent from 3.56 percent last
week. The rate averaged 4.65 percent a yearago, when the higher government debt from
President Trump’s tax cuts enabled borrowingcosts to rise. But as the economic outlook has
become less certain, the Federal Reserve has cut interest rates and borrowing costs have
tumbled in ways that are generally aiding homebuyers. The average rate for 15-year, fixed-
rate home loans climbed to 3.21 percent from 3.09 percent last week.
— ASSOCIATED PRESSRETIREMENT
GROWING OLD
TOUGHER IN THE US,
GLOBAL SURVEY
FINDS
A new global survey of retiree well-being paints a bleak picture for Americans hoping for an
old age free of financial stress. The 2019 Global Retirement Index released Thursday by
Natixis Investment Managers cites a trifecta of risks for retirees, policymakers, and long-
term global sustainability: low interest rates, longer lifespans, and the high costs of climate
change. The constant struggle to get by on a fixed income is likely pushing down the US
score in one of four broad categories the index measures: material well-being. The US
scored 58 percent overall, down from last year’s 61 percent, and dropped two spots in the
overall country ranking, to No. 18. The nation’s low rank for income equality (37th worst of
44 countries) is partially to blame. — BLOOMBERG NEWSSaturdayNETWORKING
Faith & Business
Mix with fellow Christian professionals at
this meetup from the Christian
Entrepreneurs Gathering. Attendees will
share their struggles in business and give
advice. There will be a light breakfast and
prayer. Saturday, 10 a.m. to 12 p.m., CIC
Boston, 50 Milk St., Boston. Free. Register
online or go to the business agenda at
bostonglobe.com.WORKSHOP
Be heard
Sharpen your speaking skills at this
training from General Assembly. This
class will cover topics such as nonverbal
gestures, tone, and techniques for
managing speaking anxiety. Saturday, 10
a.m. to 2:30 p.m., 125 Summer St., 13th
floor, Boston. $125. Register online or go
to the business agenda at
bostonglobe.com.SundayJOBS
Count yourself in
Learn how to get a job with the US
Census at this information session from
community space Make-It Springfield. A
recruiter will answer questions.
Attendees will need to bring an ID and a
device for accessing the Internet, such as
a smartphone or laptop. Resumes are
encouraged but not required. Sunday,
12:30 to 3:30 p.m., Make-It Springfield,
168 Worthington St., Springfield. Free.
Register online or go to the business
agenda at bostonglobe.com.Eventsofnote?E-mailusat
[email protected]