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August 24, 2017

Money

Tax on higher ed endowments knocked as unconstitutional

Supporters say it would be a way to invest in public education and have tax-exempt higher education institutions work to counteract growing inequality, but opponents of legislation to tax some private university endowments claim it is unconstitutional and would harm Massachusetts’ image as a bastion of higher education. The Committee on Revenue heard testimony Tuesday

​Waltham-based Parexel discloses major layoffs

Waltham-based contract research organization Parexel International Corp., one of the state’s largest life science companies, is planning a potentially massive new round of layoffs as it reportedly explores a sale. Parexel (NYSE: PRXL) disclosed the job cuts in a federal filing on May 4. The company previously announced in January that it would lay off

Gillette rebrands shave club to better compete with disruptive startups

Gillette, the Procter & Gamble-owned razor maker that’s headquartered in Boston, launched its rebranded shaving subscription service that also allows consumers to reorder razors via text. The company said that it began receiving orders today through the company’s all-new online direct-to-consumer service called Gillette On Demand. The new service offers the traditional subscription-only option and

Why Wayfair gained $1B in market value today

Shares of Boston-based Wayfair Inc. are up more than 23 percent Tuesday, hitting an all-time high and adding more than $1 billion to the company’s market valuation. Wayfair was trading at $63.43 per share as of early Tuesday afternoon. The stock pop follows a quarterly earnings report in which Wayfair (NYSE: W) announced the number

LeanBox's new spinoff aims to offer better office coffee

Boston-based LeanBox was founded in 2013 to supply corporate offices with healthy vending machines. Now, the startup is spinning off its coffee service — an industry it was originally hesitant to enter — into its own entity after finding early success. The LeanBox team announced the launch of Grind Coffee last week, and CEO Shea

Andy Rubin-backed Owl Labs launches, but tech is still a mystery

Somerville-based Owl Labs Inc., a two-year-old startup with co-founders and team members from some local brand-name companies, announced itself to the world Tuesday but kept details about its technology under wraps. Owl Labs has raised $6 million in a Series A round led by Cambridge-based Matrix Partners. The round was first reported last summer. Previously,

BBJ announces the 2017 CFO of Year honorees

The Boston Business Journal today announced the winners for its ninth-annual CFO of the Year Awards program honoring the best in local finance. This year’s event, a luncheon program, will be held July 19 at the Seaport Hotel in Boston. For a look at this year’s CFO of the Year honorees, click on our slideshow.

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