INSURANCE

Aetna appears set to leave Hartford

So it looks like Aetna is about to “pull a GE.’’ Like General Electric, Aetna could move its headquarters from Connecticut to a place with a more powerful innovation economy. Aetna issued a brief statement on Wednesday, all but saying it’s on the way out. CEO Mark Bertolini said the health insurance giant is negotiating with “several states regarding a headquarters relocation, with the goal of broadening our access to innovation and the talent that will fill knowledge economy-type positions.’’ A decision is expected by “early summer,’’ and a big number of employees are expected to remain in Hartford. It’s unclear whether Aetna will follow GE to Massachusetts or pick another spot. For now, the money is on New York. A former Republican lawmaker in Connecticut set off a firestorm in Hartford this week by stating on his blog that Manhattan is ahead of Boston in the competition. Details were scant, but the blowback was quick. Political and business leaders, led by Hartford Mayor Luke Bronin, lamented the potential loss. Bronin’s concession: Aetna decided a long time ago to relocate out of Connecticut. “Losing Aetna’s flag is a hard blow for the state,’’ he said. Aetna has been rumored to be sniffing around Boston for office space, including in the Seaport and downtown, and one of Aetna’s top executives, Gary Loveman, lives and works in Wellesley. A top state official says the Baker administration hasn’t heard any word yet on Aetna’s decision. — JON CHESTO

MEDIA

Scott Pelley out as anchor of CBS Evening News

CBS has formally announced that Scott Pelley will move out of his role as anchor of the network’s evening news show and go full time at “60 Minutes.’’ Anthony Mason, a 25-year veteran of the network, will fill in on an interim basis. No permanent replacement has been made. The “CBS Evening News’’ is in third place, and the program’s ratings have dropped 9 percent this season, the biggest decline among the three evening news programs. Pelley is traveling on a reporting assignment but he is expected to return to the “CBS Evening News’’ as anchor next Monday, a network spokeswoman said. When Pelley will leave that position for good is not clear, but the transition is said to be happening in the coming weeks. — NEW YORK TIMES

PRIVATE EQUITY

Bain Capital refuses to give up on struggling Gymboree

From the outset, Bain Capital was smitten with Gymboree Corp. The private equity firm was convinced the children’s apparel retailer was recession-proof ­­— a great brand with lots of growth potential. So in 2010, Bain outbid shops including Apollo Global Management LLC to acquire the company for the hefty sum of $1.7 billion. Seven years later, on the eve of a bankruptcy filing that people familiar with the matter have said could come from Gymboree as soon as this month, Bain executives seem reluctant to give up on their big bet. They’ve snatched up Gymboree bonds as a way to retain a strong position in any revival, according to a person familiar with the matter. And just last week the company named a new chief executive officer with deep retail experience, who is charged with formulating a turnaround strategy. — BLOOMBERG NEWS

AGRICULTURE

Georgia’s peach crop hard hit by spring freeze

Georgia’s peach crop is suffering much worse than expected after an overly warm winter and a hard freeze in early spring. Agriculture Commissioner Gary Black told the Atlanta Journal-Constitution that nearly 80 percent of the state’s peach crop has been wiped out because of the weather. Black says the lack of peaches could mean a shorter season for Georgia consumers. He says farmers probably won’t ship out of state. Initially, farmers hoped to salvage about 70 percent of the crop. The newspaper reports that the loss, combined with a blow to this year’s blueberry crop, could mean a $300 million hit to farmers. The peach crop issue has been worse in neighboring South Carolina, where Black says he’s told more than 85 percent of the crop was lost. — ASSOCIATED PRESS

REAL ESTATE

Home buying slows in April

Americans retreated from signing contracts to buy homes in April for the second straight month, a possible sign that a declining number of homes on the market are stifling sales during the traditional spring buying season. The National Association of Realtors said Wednesday that its pending home sales index fell 1.3 percent in April to 109.8, after slipping 0.9 percent in March to 111.3. The index has fallen 3.3 percent over the past 12 months. Potential buyers are crowding open houses in many neighborhoods because there are fewer sales listings. — ASSOCIATED PRESS

FAST FOOD

McDonald’s expands delivery service

McDonald’s Corp. will expand delivery service to 1,000 more US restaurants this week, including locations in the New York area, part of a gambit that the 77-year-old chain can find a major new source of growth. The burger chain is relying on Uber Technologies Inc.’s UberEats to handle the “McDelivery’’ program, which is now available from more than 2,000 locations. Other cities getting the service this week include Dallas; Denver; Fresno, Calif.; Houston; San Antonio; Seattle; and Washington. — BLOOMBERG NEWS

MEDIA

New York Times offers buyouts to editors

The New York Times offered buyouts to its newsroom employees Wednesday, aiming to reduce layers of editing and requiring more of the editors who remain. In a memo to the newsroom, Dean Baquet, the executive editor, and Joseph Kahn, the managing editor, said the current system of “backfielders’’ and copy editors — two separate groups who have different tasks before a story is published — would be replaced with a single group of editors who would be responsible for all aspects of a story. Another editor would be “looking over their shoulders before publication.’’ The buyouts are aimed primarily at editors, but reporters and others in the newsroom would be free to apply as well, the memo said. Baquet and Kahn said that the savings would be used to hire as many as 100 more reporters. The Times could turn to layoffs if there are not enough volunteers for buyouts, Baquet and Kahn said in the memo. In a separate memo, Arthur Sulzberger Jr., the publisher, said the company would be eliminating the position of public editor, which was established to receive reader complaints and question Times journalists on how they make decisions. Liz Spayd, the current public editor, will leave The Times on Friday. — NEW YORK TIMES

PHARMACEUTICALS

US government may have overpaid as much as $1.27b for EpiPens

US taxpayers may have overpaid for Mylan NV’s EpiPen shot by as much as $1.27 billion over the last decade, according to a US government report. Senator Charles Grassley, an Iowa Republican, on Wednesday posted a copy of a report by the Department of Health and Human Services’ Office of the Inspector General. The report says that Mylan, by classifying EpiPen as a generic drug rather than a brand-name product, shortchanged the Medicaid program for the poor. Under Medicaid, makers of brand-name drugs must provide deep discounts on their products. In October, Mylan said it reached a settlement with the US to pay $465 million for misclassifying the drug as a generic product, which doesn’t require the same discounts. Grassley has been critical of the October settlement, calling it too small. — BLOOMBERG NEWS