The State House has approved an amendment to an economic development bill that would suspend the state’s 6.25 percent sales tax annually on the weekend of Aug. 11-12 starting next year. Earlier this month, Gov. Charlie Baker signed the legislation, which will now go before the Senate. Read more at Boston.com.
Boston-based Cabot, Cabot, and Forbes and L.A.-based CIM Group have proposed plans for a 2.16-acre mixed-use project on Kilmarnock and Queensberry Streets near Fenway Park. The project would include two eight-story buildings with 443 residential units, 7,800 square feet of retail space and 250 parking spots as well as neighborhood improvement indicatives. Read more at Curbed Boston.
Japanese drugmaker Otsuka Pharmaceutical Co. has agreed to purchase Waltham-based biotech Visterra for $430 million. Visterra, which will become an Otsuka subsidiary under the deal, develops treatments for a variety of infectious diseases and kidney disorders. Read more at the Boston Business Journal.
Cambridge-based Tamr has closed its latest strategic funding round with $18 million in investments led by Samsung Ventures. The machine learning company helps larger organizations access and combine large amounts of data from multiple sources. It will use the funds to support marketing and sales indicatives and add to its engineering staff. Read more at American Innovation.
According to data from the U.S, Bureau of Economic Analysis, foreign investments to acquire, launch or expand businesses in the country was down 32 percent in 2017, totaling $259.6 billion versus $439.5 billion in 2015. Read more at CNN.
The Labor Department released numbers indicating that U.S. wholesale prices have increased 3.4 percent over the past year, the biggest 12-month increase since a 3.7 percent uptick in November 2011. Read more at Washington’s Top News.