Lancaster promoted to CEO of Stavis Seafoods

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Spanish seafood conglomerate Profand Group has promoted David Lancaster to managing director of Stavis Seafoods, the Boston-based processor. Lancaster, a 30-year industry veteran, was previously promoted from vice president of sales to president of Stavis in January 2021; the CEO position had recently been vacated and was managed by the parent company. Stavis employs 150 to 200 people at its facilities in Boston, New Bedford and Peabody, and generated more than $ 250 million in revenue last year. – JON CHESTO

MEDIA

New York Times buys Athletic

The New York Times agreed to buy Athletic, thereby acquiring a sports news site with more than one million subscribers, according to a person familiar with the matter. The deal is valued at around $ 550 million, said the person, who asked not to be identified because it was not announced. Neither The Times nor Athletic responded to a request for comment. Launched six years ago, Athletic has established itself by hiring renowned sports writers in media outlets from across the country, including Ken Rosenthal in baseball and Shams Charania in basketball. Athletic co-founder Alex Mather told the New York Times in 2017, “We will wait on all the local papers and let them bleed continuously, until we are the last ones standing. We are going to empty them of their best talent at all times. He then apologized. – BLOOMBERG NEWS

MORTGAGES

Rising rates

Average long-term mortgage rates in the United States have risen over the past week to start the new year. They reached their highest level since May 2020, at the height of the coronavirus pandemic, while remaining historically low. Mortgage buyer Freddie Mac reported Thursday that the 30-year average benchmark home loan rate rose to 3.22% this week, from 3.11% last week. A year ago, the 30-year rate stood at 2.65%. The average rate on 15-year fixed-rate mortgages, popular among those refinancing their homes, rose to 2.43% from 2.33% last week. – ASSOCIATED PRESS

AUTOMOTIVE

Volkswagen to unveil its electric bus

Volkswagen will reveal the ID. Buzz, an electric iteration of its iconic hippie-era microbus, on March 9. Managing Director Herbert Diess announced the date on Thursday in a Twitter post that sketched the outlines of the new design, which takes inspiration from the lines of the original model. VW’s original microbus – the colorful bread-shaped van that was regularly seen in the 1960s at music festivals, including Woodstock – has dedicated fans. The German company previously announced plans to sell its battery-powered successor in Europe and the United States. – BLOOMBERG NEWS

TRADE

Deficit close to record in November

The United States’ trade deficit hit a record high of $ 80.2 billion in November, as exports slowed as imports rose sharply. November’s deficit was 19.3% higher than October’s deficit of $ 67.2 billion and was just below the monthly record of $ 81.4 billion set in September, the Commerce Department reported Thursday. November’s imports, goods bought by Americans from other countries, jumped 4% to $ 304.4 billion in November while exports, those the United States sends overseas, did not rose only 0.2% to $ 224.2 billion. – ASSOCIATED PRESS

TELEVISION

CW would be for sale

ViacomCBS and the WarnerMedia unit plan to sell all or part of the CW TV network, according to people familiar with the discussions. The sale is not a given, according to people, who asked not to be identified as the talks are private. Discussions have been going on for months. Among the possible buyers is Nextstar Media Group Inc., a large TV channel owner with many CW subsidiaries. A Nextstar spokesperson declined to comment. Founded 15 years ago as a joint venture between the two media giants, The CW is a free live network focused on teens and young adults. His hits include a number of DC Comics superhero shows as well as “All American,” a high school football drama. – BLOOMBERG NEWS

MEDIA

BBC hires ex-NBC executive to head news division

The BBC announced Thursday that it has appointed Deborah Turness as its new chief news and current affairs officer, bringing the broadcaster a highly experienced reporter who previously held senior positions in NBC’s news division. Turnes, 54, comes to the BBC from UK media company ITN, where she is currently CEO. The native of England will replace Fran Unsworth, who is leaving at the end of January. When she begins her new job, Turnes will be responsible for a team of around 6,000 who will broadcast programming in more than 40 languages ​​to nearly half a billion people around the world, the BBC said. Turnes joined NBC News in 2013, becoming the first female president of an American network’s news division, and then served as president of the network’s global arm. The BBC, founded in 1922, is Britain’s publicly funded but editorially independent national broadcaster. The rules governing its operations are set out in a Royal Charter that requires the company to be impartial, act in the public interest, and be open, transparent and accountable. The broadcaster has come under pressure from some members of Prime Minister Boris Johnson’s Conservative Party who accuse him of having a liberal bias. – ASSOCIATED PRESS

FOOD

Prices eased at the end of 2021

Global food prices have fallen from an all-time high at the end of last year, providing some breathing space for consumers and governments facing a wave of inflationary pressures. A United Nations index that tracks everything from grains to meat fell 0.9% in December, potentially helping to dampen the rise in grocery prices. Still, the gauge remains close to the all-time high of 2011 and average prices jumped about 28% in 2021, the highest in 14 years. – BLOOMBERG NEWS

RETAIL SELLING

Bed Bath & Beyond sales penalized by supply chain issues

Losses widened at Bed Bath & Beyond as a tangled global supply chain continued to squeeze sales and the household goods chain lowered expectations for its last fiscal quarter, as well as its sales figure. business for the entire year. Union, New Jersey, lost $ 276.4 million, or $ 2.78 per share, for the three months ended Nov. 27. Bed Bath & Beyond said it struggles to put everything buyers want on the shelves due to ongoing issues with backups in the supply chain. as the US economy emerges from the worst of the pandemic. – ASSOCIATED PRESS

PHARMACIES

Walgreens’ bottom line helped by COVID vaccines, testing

Vaccines and COVID-19 testing have boosted Walgreens store sales growth to levels not seen in more than two decades, pushing the drugstore chain well above Wall Street expectations for the first quarter. Walgreens distributed 15.6 million vaccines in the quarter ended Nov. 30, up 16% from the previous quarter as more Americans sought booster shots. In addition, federal regulators have extended eligibility for Pfizer’s vaccine to children ages 5 to 12. The company administered 6.5 million COVID-19 tests in the first quarter, which ended before the omicron variant of the virus sent the number of cases soaring to the United States and stoked the need for testing even higher . – ASSOCIATED PRESS

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Tanya S. Norvell