Concordia Lutheran buys land in Penn Township
Cabot-based senior residential and care provider Concordia Lutheran Services has purchased 134 acres in Penn Township, including a parcel containing the building known as the Mansion, from the Raymond Lassinger Family Trust and their company, Associated Ceramics and Technology Inc. Terms of the deal were not disclosed, but the transaction included a charitable donation from the Lassinger family, according to Concordia. Plans for the property have not been finalized, but Concordia will incorporate the Mansion into future plans for the site, which fronts on Route 8.
Sprint, T-Mobile said to be ironing out final merger details
Sprint and T-Mobile US are putting the finishing touches on a merger that is likely to be announced when the wireless carriers report quarterly earnings at the end of October, according to people familiar with the matter. Both sides are conducting final due diligence. A tie-up between Sprint and T-Mobile would cut the number of national wireless carriers to three from four. Representatives for Sprint, T-Mobile, SoftBank and Deutsche Telekom AG, T-Mobile’s majority owner, declined to comment.
Goodbye: Pioneering AOL Instant Messenger to be discontinued
AOL is discontinuing its pioneering Instant Messenger chat platform after 20 years of service. An article on AOL’s website posted Friday says AOL Instant Messenger will be discontinued on Dec. 15. After that date, users won’t be able to sign in and all data will be deleted. AOL says people with an aim.com email address will still be able to use it.
U.S. consumer borrowing rose at a slower pace in August
U.S. consumers slowed their borrowing in August to an annual pace of 4.2 percent — a pullback from a pace of nearly 7 percent over the past three years. The Federal Reserve says overall consumer credit rose $13.1 billion in August, down from the $17.7 billion increase in July. Economists and financial markets monitor the consumer borrowing report for insights about consumer spending, a category that represents about 70 percent of U.S. economic activity.
Bombardier hit with new U.S. jet duties after Boeing complaint
The U.S. slapped duties on Bombardier’s showcase commercial jet for the second time in as many weeks, upholding Boeing’s case that its Canadian competitor sold planes at less than fair value. The Commerce Department imposed a preliminary import duty of 80 percent on Bombardier C Series aircraft based on its finding. The agency ruled last week that the Montreal-based planemaker, which invested more than $6 billion to develop the all-new C Series, benefited from unfair subsidies.
Adams Publishing acquiring Pioneer News media division
Family-owned Adams Publishing Group is acquiring the media division assets of the Pioneer News Group Co. in a deal that includes 22 daily and weekly newspapers in Washington, Oregon, Idaho, Montana and Utah. Terms of the sale that’s expected to close Nov. 1 were not disclosed. The Seattle-based Pioneer News Group is a media business owned by members of the Scripps family. Pioneer Newspapers was formed by James G. Scripps in 1986. Minneapolis-based Adams Publishing Group owns and operates 100 community newspapers in 11 states.
First Published: October 7, 2017, 4:00 a.m.
