GE Foundation donates $ 4.4 million to training program

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SMALL BUSINESS SERVICES

Vistaprint shortens its name

Vistaprint, which provides products and services to help small businesses, is now known simply as Vista after a rebranding and the acquisition of a 450-person Ukrainian company that provides digital design services to small businesses. The goal is to emphasize that Vista’s offerings extend beyond its traditional physical products, such as business cards and signs. (Vista will continue this work in a division that will retain the longer name.) Formerly known as Crello, the company Vistaprint recently acquired is now called VistaCreate. Vista, a subsidiary of Cimpress PLC, is technically based in Ireland, but a lot of its management team is based in Waltham. (The company employs approximately 600 people in Massachusetts.) – JON CHESTO

BANKING

Citigroup to Require COVID Vaccinations for All US Workforce

Citigroup will require all U.S. employees to be vaccinated against COVID-19 as a condition of their employment, citing new orders from President Biden. The Wall Street giant has asked staff members to submit proof of vaccination by Dec. 8 and said those who comply will receive $ 200 as a “thank you,” according to a memo to staff Thursday seen by Bloomberg News. Citigroup has set a Jan. 14 deadline for workers to download vaccination cards, to give unvaccinated staff more time to get vaccinated. – BLOOMBERG NEWS

FINANCE

American Express unveils its first debit card

American Express unveiled its first-ever debit card as competition for small businesses intensifies. The card will be part of a new digital business checking account, New York-based AmEx said in a statement on Thursday. While other banks have long used AmEx’s network for their own debit cards, this is the first time the payments giant has issued a debit card itself. – BLOOMBERG NEWS

MORTGAGES

Rates keep rising

Mortgage rates continued to climb this week, reaching highs not seen since April. According to the latest data released Thursday by Freddie Mac, the average fixed rate over 30 years has risen to 3.14%. The 30-year fixed average was 3.09% a week ago and 2.81% a year ago. The 15-year fixed rate average rose to 2.37%. It was 2.33% a week ago and 2.32% a year ago. – WASHINGTON POST

ELECTRONIC

Samsung bets on the foldable phone

Samsung Electronics is investing more money in its bet that foldable phones will become the next big thing as it predicts increased sales of the new handsets. Foldable sales are expected to increase several times in 2021 compared to the previous year and continue to grow significantly in 2022, Samsung said Thursday without providing precise forecasts. Its display division is expanding production of foldable panels and making additional investments to preemptively address what the company sees as growing demand for the category. – BLOOMBERG NEWS

EARNINGS

Comcast Profits Rise on Growth in Broadband Subscribers

Comcast, America’s largest cable company, beat Wall Street forecast for third quarter sales and profits, benefiting from growth in broadband subscribers and a recovery of its theme parks after shutdowns due to a pandemic. Profits hit 87 cents a share, excluding certain items, Comcast said Thursday, beating the 75-cent average of analysts’ estimates. Revenue soared to $ 30.3 billion, also beating expectations. The company added 300,000 high-speed Internet customers, in line with analysts’ forecast of 301,000. – BLOOMBERG NEWS

AUTOMOTIVE

European automakers see end of chip shortages in sight

Europe’s largest automakers Volkswagen and Stellantis NV have joined with their US rivals in expressing optimism that the severe semiconductor shortage decimating production may have peaked. Both automakers have said they’ve passed the worst uptime issue that has plagued production lines around the world. Component supply is expected to improve “quarter after quarter” until next year, VW CEO Herbert Diess said in an interview with Bloomberg Television. – BLOOMBERG NEWS

CREDIT CARD

Spending abroad gives Mastercard a boost

A pickup in overseas spending was good news for Mastercard. Cross-border volume jumped 52% in the third quarter, surpassing the 50% increase expected by analysts in a Bloomberg survey. Such spending is a boon to Mastercard and its rival Visa, as businesses can charge more for such transactions on their networks. – BLOOMBERG NEWS

MEDICATIONS

Merck could make up to $ 7 billion from COVID drug

Merck & Co.’s closely watched COVID-19 antiviral molnupiravir could bring in up to $ 7 billion in global sales through 2022, according to the drugmaker. The figure includes up to $ 1 billion in revenue this year if the investigational drug is cleared in December, CFO Caroline Litchfield said on a conference call Thursday. She forecasted sales of at least $ 5 billion by the end of next year, provided that was allowed. Molnupiravir has become one of the most anticipated coronavirus drugs because the pill is relatively cheap to make and easy to transport. Merck has taken steps to ensure the drug will be widely distributed, including in low-income countries. – BLOOMBERG NEWS

AVIATION

No more misfortunes for Boeing

Boeing has found that the titanium components used by one of its largest 787 Dreamliner suppliers, Italy’s Leonardo SpA, did not meet specifications and will need to be replaced on some aircraft manufactured in the past three years, according to a report. person informed about it. The defective parts include spacers, brackets and titanium clips which are used in sections of the carbon composite airframe assembled by Leonardo, according to the person, who asked not to be identified as the matter is confidential. The faulty fasteners add another complication to Boeing’s efforts to address quality issues with its renowned widebody aircraft. – BLOOMBERG NEWS

HIGHER EDUCATION

Wharton accepts cryptocurrency for online program tuition

The Wharton School at the University of Pennsylvania, one of the nation’s leading business schools, plans to accept cryptocurrency as a course for its online blockchain and digital assets program. The Ivy League institution’s new executive training program will accept coins such as Bitcoin as a method of payment. Due to begin in January, the online course offered by the Philadelphia-based school costs $ 3,800 and is expected to attract several thousand students per year. – BLOOMBERG NEWS

HEAVY EQUIPMENT

Caterpillar highlights supply chain issues

Caterpillar said demand looks strong through 2022, although supply chain issues will make it harder to meet customer needs. The equipment producer reported third quarter profits above analysts’ expectations as demand for heavy machinery in the construction and mining sectors outweighed concerns over continued blockages in the chain supply. While Caterpillar said there were no signs of slowing strong demand, executives warned the company would fall short of its expectations to meet customer demand this year. – BLOOMBERG NEWS


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