Turnpike project to bring in $200 million in new taxes – The Boston Globe | Vette Leader

AVIATION

American Airlines orders supersonic aircraft

American Airlines placed a firm order with Boom Supersonic for 20 Overture jets, betting that a market will emerge for a new generation of sleek aircraft that can cut travel times across the Atlantic by half. The world’s largest airline also has an option to buy another 40 of the Gullwing jets that Boom plans to introduce by mid-decade, the companies said on Tuesday, without giving financial details. The planes will not be carrying passengers until the end of the decade to fill a void left when Concorde stopped flying in 2003. — BLOOMBERG NEWS

CASING

Housing construction is slowing

The once-booming US housing market has collapsed with chills. Housing starts fell in July to the slowest pace since early 2021, when single-family home construction collapsed, according to government data released on Tuesday. Meanwhile, canceled deals increased as buyers continued to withdraw from the market amid rising mortgage rates, according to analysis by Redfin Corp. After a pandemic-driven housing boom forced homebuilders to scramble to build enough homes to meet demand, high mortgage rates pushed up inflation and a deteriorating economy is now dampening sales. This has left builders with a significant number of unsold properties. — BLOOMBERG NEWS

AUTOMOBILE

GM recalls cars over seatbelt failure

General Motors is recalling more than 484,000 large SUVs in the United States to fix an issue that can cause third row seat belts to malfunction. The recall affects 2021 and 2022 Chevrolet Suburbans and Tahoes, Cadillac Escalades and GMC Yukons. The automaker says in documents released Tuesday by US law enforcement officials that rivets attaching the buckle to the mounting bracket on the left and right seats hold the third row may have been formed incorrectly. — ASSOCIATED PRESS

AUTOMOBILE

BMW test car involved in fatal crash

A BMW self-driving test car has swerved into oncoming traffic in Germany, sparking a series of crashes, killing one person and seriously injuring nine, the Associated Press reported. The electric BMW iX with five people on board, including a small child, went out of its lane on a bend in the road, struck an oncoming Citroen and crashed head-on into a Mercedes-Benz van, resulting in the death of a 33-year-old. year-old passenger in this vehicle, the AP said, citing the police in Reutlingen near Stuttgart. It is unclear whether the driver of the BMW test car was actively driving the vehicle at the time of the crash or whether it was driving autonomously, the police spokesman told the AP. — BLOOMBERG NEWS

HOME IMPROVEMENT

Home Depot is doing well despite a slowdown in the housing market

Home Depot’s second-quarter results beat Wall Street estimates, even as the US housing market shows signs of slowing. The home improvement retailer on Tuesday reported comparable sales growth of 5.8 percent in the three months ended July 31, beating the average analyst estimate of 4.6 percent. Sales and earnings also exceeded expectations. — BLOOMBERG NEWS

RECALLS

Capri Sun recalled due to contamination

Kraft Heinz recalled more than 5,700 cases of wild cherry Capri Sonne drinks contaminated with cleaning solution, the company said in a statement Friday. The recall applies to all products with an expiration date of June 25, 2023. The company issued the voluntary recall after the drinks were accidentally mixed with a diluted cleaning solution used on processing equipment at one of its factories. Consumers can return the products to the stores where they were purchased, Kraft Heinz said. Customers who are unsure if their lot is affected can call Kraft Heinz at 800-280-8252. – WASHINGTON POST

STOCKS

Bed Bath & Beyond shares the latest meme craze by leaps and bounds

Bed Bath & Beyond’s three-week surge of 510 percent, which has helped reignite a wave of meme stock-buying, bucks Wall Street banks, who are sounding the alarm about the stock’s high valuations. The buying frenzy extended Tuesday as the stock surged as much as 79 percent to $28.60, triggering two halts to trading as more than 273 million shares changed hands to make it the most actively traded stock, according to Bloomberg data demonstrate. It closed up 29.06 percent at $20.65. The surge came even as at least three Wall Street banks downgraded the home goods company and recommended investors sell the stock amid the “meme stock craze.” — BLOOMBERG NEWS

AUTOMOBILE

The end of the road for two iconic muscle cars

Dodge will stop making gas-powered Chargers and Challengers next year, marking the end of an era for a brand that helped define the muscle car as the auto industry transitions to more fuel-efficient hybrid and electric vehicles. Stellantis, the auto conglomerate that owns Dodge, announced on Monday that it will phase out the vehicles in 2023 through a unique sale of seven “Heritage” models, each with the words “last call” on one below lying plaque will wear his hood. The Charger and Challenger are part of a generation of cars with powerful engines and muscular styling – alongside the Ford Mustang, Chevrolet Camaro, Pontiac GTO and the like – that became popular more than five decades ago. – WASHINGTON POST

PHILANTHROPY

MacKenzie Scott donates millions to Junior Achievement

Billionaire philanthropist MacKenzie Scott donated $38.8 million to Junior Achievement USA and 26 local businesses — the largest single donation in its 103-year history — the national nonprofit education organization announced Tuesday. Like all of Scott’s nearly $12 billion donations since 2019, her gift to Junior Achievement USA is unrestricted, meaning the Colorado-based nonprofit that prepares students for adulthood by teaching them financial literacy, career skills, and… Teaches business leadership training that can use funds for any project you want. Scott, who is currently worth around $42 billion according to Forbes, has signed the Giving Pledge, a pledge by many billionaires to donate more than half of their wealth. As part of her 2019 divorce from Amazon founder Jeff Bezos, then the richest person in the world, Scott received 4 percent of Amazon shares. — ASSOCIATED PRESS

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