Globe sale still stalled
The sale of The Boston Globe remained on hold yesterday as both sides awaited a judge's ruling on an emergency motion connected to the class-action lawsuit between the Worcester Telegram & Gazette and former newspaper carriers.
Worcester Superior Court Judge Shannon Frison halted the $70 million deal between the New York Times Co. and Red Sox owner John Henry on Friday. Lawyers for the Times filed an emergency motion to let the sale proceed on Monday, which Frison has been considering.
Four former Telegram newspaper carriers sued the newspaper in 2009 alleging they were misclassified as independent contractors instead of regular employees. They could receive up to $60 million.
Henry had been slated to take over the Globe last Saturday.
Caterpillar earnings, falling oil end S&P 500 record close streak
A four-day streak of record closes ended for the Standard & Poor's 500 index yesterday after Caterpillar reported weak earnings and falling oil prices hurt energy stocks.
Caterpillar, which makes mining and construction equipment, is considered an important barometer of the global economy. The plunge in Caterpillar's third-quarter profit discouraged investors and stalled a two-week surge in the stock market. Energy stocks dropped as the price of oil fell to its lowest in almost four months.
TODAY
- Labor Department releases weekly jobless claims.
- Labor Department releases job openings and labor turnover survey for August.
- Santander, Southwest Airlines, Ford Motor Co., 3M, Starwood Hotels & Resorts Worldwide Inc., Microsoft Corp., Zynga Inc. and Amazon.com Inc. all report quarterly earnings.
TOMORROW
- Germany's Ifo Institute releases its monthly index of business confidence, a closely watched indicator for Europe's biggest economy.
- United Parcel Service Inc. reports quarterly financial results before the market opens.
THE SHUFFLE
- TD Bank has promoted Anabela A. Blake, left, to assistant vice president, store manager II of the store located at 60 Main St., Westfield. She will continue to be responsible for new business development, consumer and business lending, managing personnel and overseeing the day-to-day operations
- Insulet announced the appointment of Dr. Howard Zisser as the company's first medical director. An expert in the diabetes community, Zisser has conducted clinical research on new and innovative therapies for Type 1, Type 2 and gestational diabetes.
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