PHILANTHROPY
Life sciences nonprofit donating more than $300,000 to antipoverty groups
A new nonprofit organization made up of Boston-area life science companies is donating more than $300,000 to 19 antipoverty groups. Life Science Cares, which was formally established this year, is providing grants to organizations that include Food for Free, Big Brothers Big Sisters of Massachusetts Bay, and The Possible Project. “We in Boston’s life science community have long tackled the most difficult and complex scientific challenges in order to serve patients in need,’’ said Robert J. Perez, former chief executive of Cubist Pharmaceuticals and founder and chairman of Life Science Cares. “We now commit our time, talent and resources to tackle one of the most intractable issues facing our community: poverty.’’ The organization had already contributed $85,000 to anti-poverty groups, but this round of contributions is considerably larger. — JONATHAN SALTZMAN
GOVERNMENT
Powell’s nomination to Fed clears hurdle
The Senate Banking Committee has given approval to President Trump’s selection of Jerome Powell to be the next chairman of the Federal Reserve. Powell won the support of everyone on the committee except Senator Elizabeth Warren of Massachusetts. She cast the lone no vote saying she could not support Powell because of her concerns that he would join in efforts by the Trump administration to unravel the Dodd-Frank Act passed in 2010 to strengthen regulation of the nation’s banking sector. The nomination now goes to the full Senate where it is expected to win easy approval. Powell, who has been a member of the Fed board since 2012, was tapped for the chairman’s job after Trump decided against nominating Fed Chair Janet Yellen for a second term. — ASSOCIATED PRESS
DELIVERIES
UPS expects slight delays because of post-Thanksgiving orders
United Parcel Service is expecting slight delays in package deliveries through midweek after a surge in e-commerce sales swamped its network after Thanksgiving. Online orders on Cyber Monday and the days after overwhelmed expectations, UPS spokesman Steve Gaut said Tuesday, causing a ‘‘bubble’’ to develop at certain package centers. Heavy volumes forced one- or two-day delays for certain items ordered last week. The company worked over the weekend to catch up. Much of the backlog is already cleared, and UPS doesn’t expect to miss Christmas deadlines because of it, Gaut said. — BLOOMBERG NEWS
MEDIA
Top editor of the National Enquirer and Us Weekly subject of harassment complaints
The top editor for the National Enquirer, Us Weekly, and other major gossip publications openly described his sexual partners in the newsroom, discussed female employees’ sex lives, and forced women to watch or listen to pornographic material, former employees told The Associated Press. The behavior by Dylan Howard, currently the chief content officer of American Media Inc., occurred while he was running the company’s Los Angeles office, according to men and women who worked there. His conduct led to an internal inquiry in 2012 by an outside consultant, and former employees said he stopped working out of the LA office after the inquiry. Howard quit soon after the report was completed, but the company rehired him one year later with a promotion that landed him in the company’s main office in New York. It was not clear whether Howard faced any discipline over the accusations. AP is not aware of any sexual harassment allegations involving Howard since he was rehired. In a brief phone interview, Howard characterized the ex-employees’ claims as ‘‘baseless.’’ A lawyer for American Media confirmed Tuesday that an outside investigator was hired to look into two employees’ claims about Howard’s behavior. The lawyer, Cam Stracher, said the investigation did not show serious wrongdoing. Stracher confirmed that one employee had complained that Howard said he wanted to create a Facebook account for her vagina, but Stracher said Howard said that never happened. — ASSOCIATED PRESS
TECHNOLOGY
Zuckerberg takes parental leave from Facebook
Facebook CEO Mark Zuckerberg says he’s taking parental leave this month to spend more time with his daughters. Zuckerberg said on Facebook and Instagram over the weekend that ‘‘you’ll hear from me a little less’’ during this time. Facebook offers four months of paid parental leave for both mothers and fathers — generous for corporate America, although some tech companies offer more. The paid leave doesn’t need to be taken at once. Zuckerberg took a month off after his second daughter, August, was born in August. Max was born in 2015. — ASSOCIATED PRESS
ECONOMY
US trade deficit jumps in October to highest level since January
Record imports lifted the US trade deficit to $48.7 billion in October, highest since January. The Commerce Department said Tuesday that the trade gap rose 8.6 percent in October from $44.9 billion in September. Imports hit a record $244.6 billion in October, and exports were unchanged at $195.9 billion. A trade deficit means that the United States is buying more goods and services from other countries than it is selling them. A rising trade gap reduces US economic growth. President Donald Trump views America’s massive trade deficits as a sign of economic weakness. He blames them on bad trade deals and abusive practices by China and other trade partners. Conventional economists argue that trade deficits are largely caused not by flawed trade agreements or cheating by particular countries but by a bigger economic force: Americans spend more than they produce, and imports have to fill in the gap. — ASSOCIATED PRESS
SPORTS
R.I. auditor says PawSox need to boost attendance to help pay for new stadium
Rhode Island’s auditor general says the Pawtucket Red Sox have stable finances, but attendance at games would have to increase for the team to help pay for a proposed new stadium. State lawmakers are considering a bill to allow the state to help the team build an $83 million stadium in Pawtucket. The Senate Finance Committee asked for a financial review of the Triple-A affiliate of the Boston Red Sox. Auditor General Dennis Hoyle said Monday the team’s ability to finance its share would depend on generating additional revenues from increased attendance and the potential sale of naming rights. — ASSOCIATED PRESS
HEALTH PRODUCTS
Nestle buys nutritional product company for $2.3b
Swiss consumer goods company Nestle says it is buying Atrium Innovations, a privately-held maker of nutritional health products, for $2.3 billion in cash. Nestle said Tuesday it will buy the company, which is headquartered in Quebec, from a group of investors led by Permira Funds. Atrium has about 1,400 workers and its 2017 sales are forecast to reach almost $700 million. Its largest brand is the Garden of Life line of supplements. — ASSOCIATED PRESS
COFFEE
Starbucks expects China to surpass US as its largest market within a decade
Starbucks sees China surpassing the United States as its largest market within a decade as it counts on the country’s affluent consumers to offset stagnant growth in the rest of the world. On Wednesday, Starbucks is opening its biggest cafe in the world in Shanghai. The 30,000 square-foot-store — about half the size of a soccer pitch — is part of upscale moves championed by founder and Chairman Howard Schultz. Customers at the cavernous new outlet on the West Nanjing Road shopping strip can watch beans being roasted, sample high-end brews, and use a Starbucks augmented-reality digital app to interact with the store. — WASHINGTON POST
