BIOTECH
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Nabel rejoins Moderna board
Cambridge biotech Moderna announced that Dr. Elizabeth “Betsy” Nabel is rejoining its board of directors, effective yesterday, after previously stepping down in July. Nabel had been on Moderna’s board since 2015, but she left over the summer amid concern that her role on the board presented a conflict. She was then the president of Brigham and Women’s Hospital, which was conducting a large study with the biotech’s COVID-19 vaccine. In January, Nabel announced her resignation from the Brigham, and Moderna said she worked there through February. As a Moderna board member, Nabel will work on the productive development committee, as well as the nominating and corporate governance committee, the company said. — ANISSA GARDIZY
INTERNATIONAL
UK to delay import checks post-Brexit
The UK government said it will delay imposing post-Brexit checks on imports coming from the European Union in a bid to avert disruption to supplies this summer. The UK won’t require firms to file customs declarations immediately for any imports from the EU until Jan. 1, 2022, instead of July 1 this year, Cabinet Office Minister Michael Gove said in a written statement to Parliament. Border inspections of food products will also be delayed. The postponement prolongs Britain’s hands-off approach to checks on goods coming from the bloc — its largest trading partner — since the country completed its split from the EU at the end of 2020. In contrast, the EU imposed full customs controls on the UK’s exports to the bloc, causing delays to shipments, lost revenue for businesses, and a decline in freight volumes. — BLOOMBERG NEWS
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WEALTH
Warren Buffett joins an exclusive club
Warren Buffett has been a fixture at the top of the world’s wealth rankings for decades, but in recent years he’s slipped down the list as tech fortunes soared and his hot hand cooled. Now, at 90, his net worth has blown past $100 billion. The Berkshire Hathaway chairman’s wealth jumped on Wednesday to $100.4 billion, according to the Bloomberg Billionaires Index. That makes Buffett the sixth member of the $100 billion club, a group including Jeff Bezos, Elon Musk, and his friend Bill Gates. The clan’s combined fortunes have grown rapidly, fueled by government stimulus, central-bank policy, and the surging equity market. — BLOOMBERG NEWS
RETAIL
Activist group says it is no longer seeking control of Kohl’s board
The activist group pushing for changes at Kohl’s scaled back its slate of director nominees so that it is no longer seeking control of the retailer’s board and identified the incumbent directors it would like replaced. The investor group, which includes Macellum Advisors, Ancora Holdings, and Legion Partners Asset Management, said in a statement Thursday it will now seek five seats on the 12-member board rather than nine. The group said the rationale for putting forth the larger slate, revealed last month, had been to work constructively with the company to draw its new directors from a large pool of potential candidates. — BLOOMBERG NEWS
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SOCIAL MEDIA
Facebook to run ads on short videos
Facebook plans to run more advertising on shorter videos, part of a broader push to attract popular social-media influencers and compete with TikTok. The company said ads will appear on clips as short as one minute. Previously, only videos at least three minutes long were eligible, according to a blog post Thursday. Facebook is also expanding eligibility criteria to include popular creators who primarily record live or short videos. — BLOOMBERG NEWS
INTERNATIONAL
Spanish government wants food delivery drivers classified as employees
The Spanish government on Thursday announced legislation that classifies food delivery riders as employees of the digital platforms they work for, not self-employed, in a legal change that could have far-reaching consequences for Spanish businesses. The legislation also includes a groundbreaking requirement for companies operating the platforms, such as Glovo and Deliveroo, to hand over to their workers’ legal representatives information about how their algorithms and artificial intelligence systems function in assigning jobs and assessing performance, among other aspects. — ASSOCIATED PRESS
AUTOMOTIVE
Jeep to unveil luxury Grand Wagoneer
The Jeep brand, a pioneer of the modern sport-utility vehicle, has long missed out on one of its most lucrative segments. Not anymore. Fiat Chrysler, which merged with French rival PSA Group to become Stellantis in January, is debuting three large Jeep SUVs this year, crowned by the Grand Wagoneer, a land yacht that tops out at $111,000 when fully loaded. The Grand Wagoneer, and its more affordable sibling the Wagoneer, are a shot across the bow at General Motors, whose Chevrolet Tahoe, GMC Yukon, and glitzy Cadillac Escalade have helped it command more than 50 percent of the US three-row SUV market for years. The Jeep SUVs will be available in dealerships this summer. — BLOOMBERG NEWS
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ENERGY
Shell names new chairman, says board will have equal numbers women and men
Royal Dutch Shell appointed former BHP Group executive Andrew Mackenzie as chairman, and said its board would have as many women as men on it for the first time. A fossil-fuel man through-and-through, Mackenzie worked for BP for 22 years and later served as chief executive of mining giant BHP. Yet more pertinently to Shell, the 64-year-old Scot is credited for being ahead of the curve on climate change and gender issues in the natural resources industry. — BLOOMBERG NEWS
The Link LonkMarch 12, 2021 at 03:06AM
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Nike to donate $1 million to causes that address racial inequality - BetaBoston
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