Business

Home at last: Formerly homeless vets are moving into Brighton Marine’s new 25-unit building

“This supports the ability to really address all of the issues a person is a facing,” said Bruce Buckley, CEO of Soldier On, which runs similar facilities in Agawam, Chicopee, Northampton, and Pittsfield. “If you address most but not all of them, we’ve found, it doesn’t really provide a working solution.”

The building at Brighton Marine is a former military hospital that since the 1980s has housed an array of health and social service programs for veterans. It has been renovated into furnished apartments — they even come with sheets and towels. The nonprofit financed the renovation itself, said Brighton Marine vice president Marlene Calisi, and will use vouchers awarded to the Boston Housing Authority by the federal government to fund monthly rent and support services.

A sample unit at the Brighton Marine building.
A sample unit at the Brighton Marine building.Jonathan Wiggs/Globe Staff

The first residents moved in last week, with everyone arriving by the end

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Blizzard cofounder Mike Morhaime launches new gaming endeavor Dreamhaven

Mike Morhaime, the cofounder of Blizzard Entertainment, has launched a new game company called Dreamhaven, and it has established two new game studios: Moonshot and Secret Door.

The Irvine, California-based company is a pretty good clue that Morhaime and his wife Amy Morhaime weren’t quite done with games when they left Activision Blizzard in 2018.

Mike will be the CEO of Dreamhaven, while Amy will head operations. They have hired a number of (mostly former Blizzard) industry veterans to help run their studios, which will work on separate games. That’s an ambitious startup, as working on two games at once is a handful. But it’s not without precedent, as Harold Ryan’s Probably Monsters startup in Seattle also has two studios working on two games at once. What makes the Morhaimes’ company unique so far is that they’re funding it themselves.

In an interview with GamesBeat, Morhaime said

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Walmart says it needs to hire 20,000 holiday workers just for e-commerce

Walmart says shoppers aren’t going to start acting radically different when the holiday shopping season begins.

The world’s largest retailer expects the habits shoppers have developed during the pandemic to define the 2020 holiday shopping season, and it’s planning accordingly.

Walmart is hiring 20,000 seasonal workers for its e-commerce fulfillment centers to meet online shopping demand.

Known for its 24-hour, 7 days a week schedule, Walmart stopped keeping stores open overnight after the pandemic started to give employees time to clean and sanitize stores and stock shelves. That’s going to continue throughout the holidays, including Black Friday.

The number of new hires is a big departure for how the company has handled its busiest time of the year. While some Walmart stores hire extra temporary workers for Christmas season, the company generally pays workers overtime instead. The last time it hired a large number of seasonal workers was in 2015.

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COVID-19 takes a grim toll on America’s small businesses

Brunetti’s Pizza and Deli opened in Scranton, Pa., in 1958 and was so beloved by the community that customers would volunteer to shovel its sidewalk on snowy days. Mike Brunetti, the son of the founder, and his wife Therese took over the operation. They got engaged in the shop and their kids all worked there.

Then came COVID. Shuttered in March, Brunetti’s had no revenues until May, when it reopened. The owners kept up their payments to suppliers, but sales were vastly reduced because of the shop’s small size and social-distancing requirements. Even a $14,000 loan under the federal government’s Paycheck Protection Program wasn’t enough.

This summer, with just $100 in the bank, Therese said they had no choice but to shut Brunetti’s permanently.

The couple has only a small nest egg and no pension. Therese is now looking for work.

“My husband and I sat many nights in

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Stocks dip, dollar up as data warns of sputtering recovery

NEW YORK (Reuters) – Shares dipped and the dollar ticked up near two-month highs on Wednesday as data reaffirmed lingering concerns that new restrictions to counter coronavirus infections will hurt the economic recovery.

The speed of recovery in U.S. business activity slowed down in September, with gains at factories more than offset by a retreat at services industries, suggesting a loss of momentum in the economy as the third quarter draws to a close and the COVID-19 pandemic lingers.

September surveys of private sector activity also painted a gloomy picture in Europe, with rising COVID-19 infections leading to a downturn in services industries.

U.S. stocks had opened higher, tracking Europe, but turned negative after the morning data.

The Dow Jones Industrial Average .DJI fell 5.87 points, or 0.02%, to 27,282.31, the S&P 500 .SPX lost 11.41 points, or 0.34%, to 3,304.16 and the Nasdaq Composite .IXIC dropped 67.08 points, or

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German Cabinet approves 2021 budget with high borrowing

Germany’s Cabinet on Wednesday approved a 2021 budget that foresees significant borrowing for the second consecutive year as Europe’s biggest economy tries to lessen the fallout of the coronavirus crisis.

The budget plan calls for spending of 413.4 billion euros ($485 billion) next year, down from this year’s exceptionally high 508.5 billion euros, a figure which was swollen by spending on rescue packages.

The crisis has derailed the government’s dedication to keeping its budget balanced, long a point of pride. After six years in the black, it is borrowing 217.8 billion euros this year to finance rescue and stimulus packages and cover an expected shortfall in tax revenue.

“We know that the pandemic isn’t over yet,” said Finance Minister Olaf Scholz, noting that the government plans to borrow a further 96.2 billion euros to cover next year’s extra spending.

“We can return to times in which we don’t have to

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UBS Buying Credit Suisse? Give It a Chance

UBS Chairman Axel Weber and his counterpart Urs Rohner at Credit Suisse are talking about a tie-up that would help the merged bank compete better against U.S. and Asian rivals, Inside Paradeplatz reported on Monday. Weber would stay on beyond his expected departure in 2022 while Credit Suisse Chief Executive Thomas Gottstein would retain his role, the report said. That would place UBS’s incoming CEO Ralph Hamers in a rather awkward position, and Weber would be the chief architect on the project.

Neither firm has commented. Weber has been exploring the idea in the regular course of exploring strategic options, Bloomberg News reported.

Dismissing this challenging transaction outright would be a mistake. True, UBS is already the world’s biggest wealth manager. But combining with its smaller competitor would see it pull further away from the pack in terms of scale and the efficiency that brings. Technology investment will only get

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NY Sports Club latest chain to seek bankruptcy protection

Updated

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Oracle and TikTok struck a deal. What it is, none will say

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McDonald’s Sales Are Up. The Stock Is on Track to Reach New Highs.

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Dan Kitwood/Getty Images


McDonald’s

stock set an intraday record high Monday morning and was on track for its first record close since August 2019.

The stock (ticker: MCD) was up $1.9% to $222.12 and has risen 4.9% amid a five-trading-day winning streak, according to Dow Jones Market Data. Shares were up 62% from their 52-week closing low, set on March 23.

In a note on Sunday, Piper Sandler analyst Nicole Miller Regan said her firm’s restaurant checks suggest sales were positive in August, “driven in part by McDonald’slong-standing brand popularity with consumers as preferred quick-service brand.”

“Our initial September checks suggest trends are on pace to be sequentially higher driven in part by upcoming promotions including Spicy McNuggets and the Travis Scott Meal promotion,” she noted.

Operators also indicated the company’s breakfast sales—which were slammed amid Covid-19 shutdowns and the work-from-home trend—have seen some improvement.

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