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Florida-based golf course operator acquires Mashpee club

Florida-based golf course operator acquires Mashpee club

Boston Globe3 days ago

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MARIJUANA
Social cannabis license rules could be finalized in July
Becky Klothen smokes during a Bhang Yoga class at Diaspora, a private membership club in Cambridge, on Jan. 29.
Brett Phelps for The Boston Globe
The Cannabis Control Commission's plan for launching establishments where adults could use legal cannabis in a social setting is on track to be finalized by the end of next month, but the commission chairman stressed Tuesday that none of the draft under discussion is set in stone. The CCC embarked Tuesday to work through 'discussion on a number of policy questions' that Acting Chairman Bruce Stebbins said are intended to provide greater direction for the working group that has been crafting regulations for so-called social consumption licenses. He said Tuesday's meeting will lead to 'an updated framework and draft regulations for us to consider' with a final draft of the regulations expected to be back before commissioners 'toward the last week of July.' The framework rolled out by CCC members in December calls for three social consumption license types: a 'supplemental' license for existing marijuana establishments like retail stores and cultivation facilities that want to offer their customers the ability to consume products purchased on-site, a 'hospitality' license category that would allow for on-site consumption at new or existing non-cannabis businesses like yoga studios or theaters, and an 'event organizer' license category that would allow for temporary on-site consumption at events like rallies and festivals. — STATE HOUSE NEWS SERVICE
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TECH
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R.I. poised to ban cellphones in schools
A student places his phone inside a Yondr pouch, which has a locking device. The pouch can only be unlocked with a strong magnet.
Michael Jones/Rhode Island PBS
Phones away, please. Rhode Island is poised to ban the use of cellphones during school hours, after legislation passed the Rhode Island House unanimously Monday night. The Senate passed an identical bill last month, also unanimously. The legislation requires school districts to come up with a policy by next summer to ban phones and other personal electronic devices during the school day, but it leaves the specifics — including enforcement — up to local school officials. If signed into law, it won't go into effect until Aug. 1, 2026, giving districts a full school year to come up with their policies. A growing number of states and school districts have been restricting the use of smartphones in school, citing the intense distraction they cause, bullying concerns, and seeking to encourage more in-person social interaction. Governor Dan McKee's office did not immediately say Monday night if he would sign the bill, but the legislation received veto-proof majorities in both chambers. (The House and Senate still must pass each other's identical bills before sending to McKee's desk.) — STEPH MACHADO
MANUFACTURING
A Boston-based lithium startup is building a US battery plant that will skirt Trump's tariffs
US startup Pure Lithium Corp. is working on a testing facility to build a new type of lithium battery that's completely manufactured domestically. The company has developed a lithium metal battery that chief executive Emilie Bodoin says will displace lithium-ion batteries. Pure Lithium has spent the last four years doing research and development on the technology, which could be used in electric vehicles, utility-scale energy storage, and other applications. 'We're working as hard as we can to build a prototype pilot facility,' Bodoin said Tuesday in a Bloomberg Television interview. She added that the company is expanding its lithium production process and is integrating that into a manufacturing plant, 'and as soon as we get it up and running we're going to start getting these batteries out into the hands of US customers that need it.' The Boston-based company's move to build a pilot plant comes as President Trump's administration sets the stage for tariffs on imports of key battery components from China. Pure Lithium says it extracts lithium from brine to manufacture a battery free of graphite, nickel, cobalt, and manganese, allowing it to be produced without any inputs from China. — BLOOMBERG NEWS
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PHARMACEUTICALS
FDA to offer faster drug reviews to companies promoting 'national priorities'
FDA's long-standing accelerated approval program generally issues decisions in six months for drugs that treat life-threatening diseases. Regular drug reviews take about 10 months.
Jacquelyn Martin/Associated Press
US regulators will begin offering faster reviews to new medicines that administration officials deem as promoting 'the health interests of Americans,' under a new initiative announced Tuesday. Food and Drug Administration Commissioner Marty Makary said the agency will aim to review select drugs in one to two months. FDA's long-standing accelerated approval program generally issues decisions in six months for drugs that treat life-threatening diseases. Regular drug reviews take about 10 months. Since arriving at the FDA in April, Makary has repeatedly told FDA staff they need to 'challenge assumptions' and rethink procedures. For the new program, the FDA will issue a limited number of 'national priority vouchers' to companies 'aligned with U.S. national priorities,' the agency said in a statement. The special designation will give the selected companies access to extra FDA communications, streamlined staff reviews, and the ability to submit much of their product information in advance. — ASSOCIATED PRESS
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FOOD
Kraft Heinz to eliminate all chemical dyes over next two years
Kraft Heinz said it would remove all chemical dyes from its products by the end of 2027. A spokesperson confirmed it would affect brands like Kool-Aid, Jell-O, Crystal Light and other beverages and desserts that contain dyes like Red No. 40 and Blue No. 1.
Gabby Jones/Bloomberg
On Tuesday, Kraft Heinz, the food giant best known for its ketchup and boxed Mac & Cheese, said it would remove all chemical dyes from its products by the end of 2027. The company said the shift would affect only about 10 percent of its portfolio by sales. A spokesperson confirmed it would affect brands like Kool-Aid, Jell-O, Crystal Light, and other beverages and desserts that contain dyes like Red No. 40 and Blue No. 1. Kraft Heinz is the first major food company to officially announce plans to stop using artificial colors. In April, Robert F. Kennedy Jr., the secretary of the Department of Health and Human Services, said he had reached 'an understanding' with food manufacturers to remove commonly used artificial food dyes from their products by 2026. — NEW YORK TIMES
GOVERNMENT
Trump suggests he'll extend deadline for TikTok's Chinese owner to sell app
President Trump also said he thinks Xi would 'ultimately approve' a deal to divest TikTok's business in the United States.
Gabby Jones/Bloomberg
President Trump suggested on Tuesday that he would likely extend a deadline for TikTok's Chinese owner to divest the popular video sharing app. Trump had signed an order in early April to keep TikTok running for another 75 days after a potential deal to sell the app to American owners was put on ice. 'Probably yeah, yeah,' he responded when asked by reporters on Air Force One whether the deadline would be extended again. Trump also said he thinks Xi would 'ultimately approve' a deal to divest TikTok's business in the United States. If announced, it would be the third time Trump has extended the deadline. — ASSOCIATED PRESS
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ENTERTAINMENT
It's official: Streaming is now the king of TV
The logos for streaming services Netflix, Hulu, Disney Plus, and Sling TV are pictured on a remote control.
Jenny Kane/Associated Press
Americans watched more television via streaming services than they did through cable and broadcast networks in the month of May, Nielsen said in a report Tuesday. It is the first time that has happened over a full month. Nielsen began comparing streaming viewership with traditional network and cable television in 2021. At that time, even with streaming on a rapid ascent, the gap between the two was huge: Nearly two-thirds of all TV time was spent watching cable and broadcast, and just 26 percent was with streaming. That lead has now collapsed. It's no surprise that younger viewers were the first to jump to streaming. But another group has since made the leap as well: viewers over the age of 65. Older viewers watch
a lot
of television, more than any other cohort — one-third of all viewing comes from this group. And they have been moving to streaming in droves in the last few years — particularly to platforms that are free and require no subscription. — NEW YORK TIMES

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Sunrun Stock (RUN) Plummets 40% as U.S. Senate Targets Solar Credits
Sunrun Stock (RUN) Plummets 40% as U.S. Senate Targets Solar Credits

Yahoo

time13 minutes ago

  • Yahoo

Sunrun Stock (RUN) Plummets 40% as U.S. Senate Targets Solar Credits

The solar sector is reeling after the release of the Senate Finance Committee's proposed tax-and-spending bill, which targets renewable energy sources. Sunrun (RUN), a major player in residential solar, was particularly vulnerable to the news, shedding almost 40% of its valuation in the past week. Having traded as high as $13.20 per share in late May, the stock is now languishing at ~$6 following this week's news. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter In my view, the proposed incentive cuts pose a significant threat to Sunrun's viability, particularly given its ongoing inability to generate profits despite these benefits being in place. Without that financial support, a turnaround seems even less likely, leaving me firmly bearish on the stock. For those unfamiliar, Sunrun primarily operates under a third-party ownership (TPO) model. Instead of homeowners purchasing solar systems outright, Sunrun installs and owns the panels, allowing customers to either lease the system for a monthly fee or pay for the electricity it generates at a fixed rate. This model has gained popularity because it enables homeowners to adopt solar with little to no upfront cost. Thanks to the Inflation Reduction Act (IRA), which extended and enhanced the federal Investment Tax Credit (ITC), Sunrun, as the system owner, can claim a tax credit typically worth 30% of the system's cost. This significantly lowers installation expenses and enables Sunrun to pass those savings on to customers, making the model more financially appealing. The Senate Finance Committee has recently proposed eliminating solar tax credits in favor of supporting other energy sectors, such as geothermal, nuclear, and hydropower. If passed, this legislation would require Sunrun to absorb the full cost of its solar systems, which would inevitably be passed on to customers. The result would be a significant squeeze on margins and an acceleration of the company's ongoing cash burn. Senate Republicans are reportedly aiming to pass the bill before the July 4th holiday. Upon closer examination, this appears to mark a broader shift in U.S. energy policy away from residential solar and wind. The market has already begun to react, with notable declines in Sunrun's peers, including Enphase Energy (ENPH) and SolarEdge Technologies (SEDG), underscoring the potential sector-wide impact. There's still hope for solar advocates. The proposed bill faces strong resistance from Democrats, particularly from the original architects of the clean energy tax credits included in the Inflation Reduction Act. The clean energy industry is also mounting an aggressive lobbying effort, warning of potential job losses and higher energy costs. And while the bill is led by the GOP, not all Republicans are aligned in support. The legislation still has a long way to go. It narrowly passed the House in May with a 215–214 vote, and the Senate draft was just introduced on June 16. While the Senate version includes more extended phase-out periods for some clean energy incentives, it still calls for the elimination of Section 48E credits, which are key to residential solar leases. A Senate vote is expected soon, and if proponents can secure a simple majority, the bill could advance to President Trump's desk. For context, the current Senate makeup is 53 Republicans, 45 Democrats, and two Independents. In the near term, Sunrun could experience a temporary boost in demand as customers rush to take advantage of tax credits before they're phased out. However, expectations for 2026 and beyond point to a sharp and sustained decline in demand. A closer look at Sunrun's financials reveals troubling signs. The company has consistently reported negative operating cash flow, with a loss of over $100 million in Q1 2025 and nearly $800 million in total for 2024, highlighting the financial pressure it faces even before potential incentive cuts take effect. Meanwhile, Sunrun, in its pursuit of growth opportunities, is becoming increasingly leveraged, increasing its risk profile should things take a turn for the worse. Moving forward, ongoing tariff pressures and the disappearance of incentive credits spell long-term trouble for solar installers. Analyst sentiment on Sunrun (RUN) stock is mixed. The stock carries a consensus Hold rating, based on seven Buy, six Hold, and four Sell ratings over the past three months. Despite the cautious stance, RUN's average price target of $10.44 suggests significant upside potential—about 70% from current levels. Mizuho analyst Maheep Mandloi has a Buy (Outperform) rating on RUN with a price target of $16. He notes that the House's 'One Big Beautiful Bill' won't derail grandfathered credits until 2028. He also believes that demand for renewable energy will remain high without government incentives because it is 'still the cheapest option.' However, not everyone shares Mandloi's bullish outlook. Jefferies analyst Julien Dumoulin Smith downgraded RUN to Sell (Underperform) with a price target of $5. Due to the same legislation, Smith notes that Sunrun is exposed to 'both near- and long-term headwinds.' He believes that the market is underestimating 'how consequential the 'One Big Beautiful Bill Act' is uniquely on residential solar.' The so-called 'One Big Beautiful Bill' poses a major threat to solar companies like Sunrun. The company's growth has heavily relied on tax credits tied to third-party ownership (TPO) systems. Even with those incentives, Sunrun has struggled to achieve consistent profitability. Without them, serious doubts emerge about its ability to maintain its current business model. If the bill passes, Sunrun—and others in the space—will likely be forced to pivot toward new strategies or market segments. That said, the bill could still fail, or be amended in ways that lessen the impact on Sunrun. Additionally, the proposed phase-out period provides a window for the company to adjust. From my perspective, I'd prefer to stay on the sidelines until there is more regulatory clarity. Disclaimer & DisclosureReport an Issue Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Tech stock hits all-time high after receiving 'First Buy' rating and 'genius' buzz
Tech stock hits all-time high after receiving 'First Buy' rating and 'genius' buzz

Yahoo

time30 minutes ago

  • Yahoo

Tech stock hits all-time high after receiving 'First Buy' rating and 'genius' buzz

Tech stock hits all-time high after receiving 'First Buy' rating and 'genius' buzz originally appeared on TheStreet. The stock of Circle Internet Group (NYSE: CRCL) surged as much as 17% once it received the First Buy rating from Seaport Global on June 20, Bloomberg reported. Circle is the company behind the USDC stablecoin. A stablecoin is a type of cryptocurrency that tries to maintain a stable value, unlike mainstream cryptocurrencies like Bitcoin that are generally volatile. Circle's USDC, as the name suggests, is pegged 1:1 to the U.S. dollar. The second-largest stablecoin, it accounts for around 25% of the total stablecoin market cap of $251 billion, as per DeFiLlama. Join the conversation with Scott Melker on The company made a spectacular public debut on June 5 as it opened at $69, around 125% higher than the IPO price of $31. On June 17, the GENIUS Act, the legislation dealing with stablecoin regulation, passed the Senate. The landmark move further boosted the already booming CRCL stock as it surpassed the $200 price mark the next day. Join the conversation with Scott Melker on Now, Seaport Global has granted Circle the First Buy rating, demonstrating the growing institutional confidence in the newly launched stock and even in the burgeoning stablecoin industry. Seaport analyst Jeff Cantwell anticipates Circle increasing its revenue 25%-30% annually. In fact, the firm could reach $3.5 billion in revenue in 2025, he said. Cantwell added: "We view Circle as a top-tier crypto 'disruptor' with a sizable future opportunity." Since its public debut on June 5, the CRCL stock has surged more than 400% in value. It even hit an all-time high (ATH) of $248.88 on June 20. At press time, CRCL was trading at $237.88. Tech stock hits all-time high after receiving 'First Buy' rating and 'genius' buzz first appeared on TheStreet on Jun 20, 2025 This story was originally reported by TheStreet on Jun 20, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Vance blames California Dems for violent immigration protests and calls Sen. Alex Padilla 'Jose'
Vance blames California Dems for violent immigration protests and calls Sen. Alex Padilla 'Jose'

San Francisco Chronicle​

timean hour ago

  • San Francisco Chronicle​

Vance blames California Dems for violent immigration protests and calls Sen. Alex Padilla 'Jose'

LOS ANGELES (AP) — Vice President JD Vance on Friday accused California Gov. Gavin Newsom and Los Angeles Mayor Karen Bass of encouraging violent immigration protests as he used his appearance in Los Angeles to rebut criticism from state and local officials that the Trump administration fueled the unrest by sending in federal officers. Vance also referred to U.S. Sen. Alex Padilla, the state's first Latino senator, as 'Jose Padilla,' a week after the Democrat was forcibly taken to the ground by officers and handcuffed after speaking out during a Los Angeles news conference by Homeland Security Secretary Kristi Noem on immigration raids. 'I was hoping Jose Padilla would be here to ask a question,' Vance said, in an apparent reference to the altercation at Noem's event. 'I guess he decided not to show up because there wasn't a theater. And that's all it is.' 'They want to be able to go back to their far-left groups and to say, 'Look, me, I stood up against border enforcement. I stood up against Donald Trump,'' Vance added. A spokesperson for Padilla, Tess Oswald, noted in a social media post that Padilla and Vance were formerly colleagues in the Senate and said that Vance should know better. 'He should be more focused on demilitarizing our city than taking cheap shots,' Oswald said. Vance's visit to Los Angeles to tour a multiagency Federal Joint Operations Center and a mobile command center came as demonstrations calmed down in the city and a curfew was lifted this week. That followed over a week of sometimes-violent clashes between protesters and police and outbreaks of vandalism and looting that followed immigration raids across Southern California. Trump's dispatching of his top emissary to Los Angeles at a time of turmoil surrounding the Israel-Iran war and the U.S.'s future role in it signals the political importance Trump places on his hard-line immigration policies. Vance echoed the president's harsh rhetoric toward California Democrats as he sought to blame them for the protests in the city. 'Gavin Newsom and Karen Bass, by treating the city as a sanctuary city, have basically said that this is open season on federal law enforcement,' Vance said after he toured federal immigration enforcement offices. 'What happened here was a tragedy,' Vance added. 'You had people who were doing the simple job of enforcing the law and they had rioters egged on by the governor and the mayor, making it harder for them to do their job. That is disgraceful. And it is why the president has responded so forcefully.' Newsom's spokesperson Izzy Gardon said in a statement, 'The Vice President's claim is categorically false. The governor has consistently condemned violence and has made his stance clear.' In a statement on X, Newsom responded to Vance's reference to 'Jose Padilla,' saying the comment was no accident. Jose Padilla also is the name of a convicted al-Qaida terrorism plotter during President George W. Bush's administration, who was sentenced to two decades in prison. Padilla was arrested in 2002 at Chicago's O'Hare International Airport during the tense months after the 9/11 attacks and accused of the 'dirty bomb' mission. It later emerged through U.S. interrogation of other al-Qaida suspects that the 'mission' was only a sketchy idea, and those claims never surfaced in the South Florida terrorism case. Responding to the outrage, Taylor Van Kirk, a spokesperson for Vance, said of the vice president: 'He must have mixed up two people who have broken the law.' Federal immigration authorities have been ramping up arrests across the country to fulfill Trump's promise of mass deportations. Todd Lyons, the head of U.S. Immigration and Customs Enforcement, has defended his tactics against criticism that authorities are being too heavy-handed. The friction in Los Angeles began June 6, when federal agents conducted a series of immigration sweeps in the region that have continued since. Amid the protests and over the objections of state and local officials, Trump ordered the deployment of roughly 4,000 National Guard troops and 700 Marines to the second-largest U.S. city, home to 3.8 million people. Trump has said that without the military's involvement, Los Angeles 'would be a crime scene like we haven't seen in years.' Newsom has depicted the military intervention as the onset of a much broader effort by Trump to overturn political and cultural norms at the heart of the nation's democracy. Earlier Friday, Newsom urged Vance to visit victims of the deadly January wildfires while in Southern California and talk with Trump, who earlier this week suggested his feud with the governor might influence his consideration of $40 billion in federal wildfire aid for California. 'I hope we get that back on track,' Newsom wrote on X. 'We are counting on you, Mr. Vice President.' ___ Associated Press writers Julie Watson and Jaimie Ding in Los Angeles and Tran Nguyen in Sacramento contributed to this report.

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