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Fri. Mar. 30, 2012 Chanel plans to open two-story boutique on Newbury Street French designer Chanel is planning next year to open a boutique on Newbury Street and close its current shop at the Taj Hotel. The 10,000-square-foot House of Chanel will be located on the first block of Newbury Street as part of a new luxury residence building called No. 6 Newbury. Peter Marino, a well-known architect and longstanding Chanel collaborator, will design the two-story space to evoke the style of Coco Chanel’s famed Paris apartment.	Advertisement
RI unemployment rate second highest in US Rhode Island’s jobless rate is now the second-highest in the nation, and the state is one of only three still recording double-digit unemployment. The U.S. Bureau of Labor Statistics said Friday the rate in February declined in 29 states and rose in 8, including Rhode Island. The state rate is 11 percent, up one-tenth of a percentage point from January.
RI governor posts online video on work to aid cities Rhode Island Gov. Lincoln Chafee is mounting a public relations campaign to build support for his plan to allow struggling municipalities to cut pension benefits to retired workers. The independent governor released an internet video Friday highlighting his efforts to rescue cities and towns like Woonsocket, Providence and Pawtucket.
Tribe seeks casino compact with Mass. The Wampanoag Tribe of Aquinnah is stepping up efforts to develop a casino in southeastern Massachusetts. The Martha’s Vineyard-based tribe says it has secured options on two attached tracts of lands, one in Freetown and the other in neighboring Lakeville. Freetown officials have scheduled a May 29 referendum on the proposed casino and the tribe has asked that a vote be set in Lakeville.
Boston Properties CEO Mortimer Zuckerman earned $10 million last year - 23% jump Boston Properties Inc. Chief Executive Mortimer B. Zuckerman earned about $10 million in total compensation last year, a 23 percent increase from 2010, as the company’s profits jumped last year, the real estate investment trust disclosed Friday.
Boston mayor protests proposed Comcast/Verizon Wireless deal Boston mayor Thomas Menino has submitted a brief to the Federal Communications Commission opposing a plan that would allow Verizon Wireless, Comcast and Time Warner to jointly market each other’s products, allowing them to offer a “quadruple play” of video, Internet access, voice and wireless service.
MasterCard, Visa warn of data breach MasterCard Inc., the second-biggest payments network, said it’s investigating a potential breach of account data and that card issuers and law enforcement have been notified.
CVS Caremark names new unit president CVS Caremark Corp. said Friday that Jon Roberts, executive vice president and chief operating officer of the company’s pharmacy-benefit management division, will become the unit’s president on Sept. 1. Roberts will continue to report to Per Lofberg, who currently runs that unit. Lofberg, who has been president since early 2012, in December extended his employment agreement through 2013.
ImmunoGen rises after drug delays cancer worsening in study ImmunoGen Inc. rose the most in almost a year after partner Roche Holding AG said a breast cancer drug delayed the disease worsening in a patient study. Patients who received the medicine, T-DM1, lived “significantly” longer without their disease progressing compared with those who received a combination of GlaxoSmithKline Plc’s Tykerb and Roche’s Xeloda, Basel, Switzerland-based Roche said in a statement today. Roche is developing T-DM1 with technology it licensed from ImmunoGen.
Dunkin Brands stockholders increase public offer Dunkin’ Brands Group Inc., the parent company of Dunkin’ Donuts and Baskin-Robbins, said Friday that some of its stockholders are increasing the number of shares they plan to sell in a secondary offering. Dunkin said the selling shareholders will now sell 26.4 million shares, up from 22 million planned previously.
Senate committee backs nomination of Jeremy Stein for Federal Reserve; Senate confirms Thomas Curry to head bank regulator. A Senate committee on Thursday approved President Barack Obama’s two nominations to fill vacancies on the Federal Reserve’s board: Jeremy Stein, a Harvard economics professor, and Jerome Powell, an investment banker who served in the George H.W. Bush administration. The Senate Thursday approved the nomination of Thomas Curry to serve as head of the Office of the Comptroller of the Currency, a position that also gives him a spot on the FDIC board.
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