City Boston Financial News

American Tower Corp (ATC) has informed the US Securities and Exchange Commission (SEC) that it has taken a $322 million (Rs 2,677 crore approx) goodwill impairment charge for its India unit in the quarter ended September 2023, amid continuing business challenges in the country. This is since the fair value of ATC’s India unit has dropped below its carrying amount in the September quarter, the Boston-based telecom tower company said in a recent global SEC filing. “The company (read: ATC) performed an interim quantitative goodwill impairment test as of September 30, 2023, using information obtained from third parties to compare the fair value of the India reporting unit to its carrying amount, including goodwill. The result indicated that the carrying amount of the company's India reporting unit exceeded its estimated fair value… as a result, the company recorded a goodwill impairment charge of $322 million for the three and nine months ended September 30, 2023,” ATC said in its US SEC filing, dated October 26. The US tower firm added that it continues to evaluate the carrying value of its Indian assets, which may result in realisation of additional impairment expenses or other similar charges. The fair value, typically, is the estimated price at which an asset is bought or sold when buyer and seller agree on a price.

The closed shop of government consultancy tenders should be opened up to small and medium enterprises with special arrangements for the defence sector overhauled in a bid to break the stranglehold of the “big four” in the public service, according to a new paper circulated to senior federal ministers and state premiers.

Boston Celtics have started the 2023 NBA season in an exceptional fashion, they will take on the Brooklyn Nets in the NBA on Saturday. By winning their first four games, including two blow-out wins in their last two games, the Celtics have shown that they are the championship contenders. New recruits Kristaps Porzingis and Jrue Holiday have performed well, while Derrick White continues to improve. On the other hand, the Nets have won three of their first five games. However, they are still waiting for Ben Simmons to become the interior scorer he was with the Philadelphia 76ers. Cam Thomas and Mikal Bridges are both making waves at the offensive end. But the Nets have struggled to stop Boston's offense, their strong defense too have cracked. Brooklyn coach Jacques Vaughn will have to devise a scheme to inflict on the Celtics their first loss of the season.

AMSTERDAM (Reuters) — Airlines without historic rights at Amsterdam's Schiphol airport, including newcomer JetBlue, will not be allocated slots for summer 2024, slot coordinator ACNL said on Thursday.

By Nate Raymond

The Biden administration and JetBlue Airways are facing off in court over the Biden administration's effort to stop JetBlue from buying Spirit Airlines

The Victorian government spent nearly $11 million on salaries for staff on the organising committee of the Commonwealth Games it axed, including at least $300,000 a year paid to 11 executives.

By Nate Raymond

MLB Series has been drawn 1-1, the game slated for Monday, October 30 has become extremely important. It will be MLB Game 3 between the Arizona Diamondbacks and the Texas Rangers. The Diamondbacks will pit right-hander Brandon Pfaadt against the Texas Rangers. Earlier, Pfaddt gave up five runs in just 3.1 innings in a 7-2 home loss to the Boston Red Sox, and his ERA ballooned to 8.37.

Adam Johnson, who appeared in 13 NHL games with the Pittsburgh Penguins, has died after a “freak accident” during a game in England on Saturday, his club said.The 29-year-old Minnesota native was playing for the Nottingham Panthers in a Challenge Cup game against the Sheffield Steelers when he suffered a slashed neck during the second period of the game at Sheffield’s Utilita Arena.“The Nottingham Panthers are truly devastated to announce that Adam Johnson has tragically passed away following a freak accident at the game in Sheffield last night,” the team said Sunday morning.“The Panthers would like to send our thoughts and condolences to Adam’s family, his partner, and all his friends at this extremely difficult time. Everyone at the club including players, staff, management and ownership are heartbroken at the news of Adam’s passing.”Johnson spent 13 games over parts of the 2018-19 and 2019-20 seasons playing for the Pittsburgh Penguins in the National Hockey League before spending the 2020-21 season in Sweden with the Malmo Redhawks.

Women’s professional golf has picked up another big money event

By Casey Hall

Fidelity Investments is seeking clearance that would allow some of its best-known mutual funds to also operate as exchange-traded funds, becoming the largest firm to challenge Vanguard Group’s former monopoly on the concept. 

Shein and PDD Holdings-owned Temu have applied to end their legal fights with each other in the U.S., documents show, marking a truce even as a global market share battle between the low-price online platforms heats up. Joint declarations were filed to courts in Chicago and Boston by lawyers representing the companies and their subsidiaries, requesting that two legal cases be dismissed «without prejudice» by their judges.

Bain’s Australian office has delayed the start dates of its roughly two dozen new joiners until as late as October next year and will not confirm when they commence until “early 2024”, a sign the strategy consulting firm remains uncertain about its future workload.

gun shooting in Lewiston, Maine at a bowling alley and a restaurant has left nearly 16 dead and over dozens injured, reported CNN. The exact number of those injured in the shooting is still unknown.

last tour, named "The Long Goodbye." They will be joined by Steely Dan, also esteemed members of the Rock and Roll Hall of Fame. The tour is set to commence on September 7 at Madison Square Garden in New York. The group expressed gratitude to their management team, road crew, and backup musicians for unwavering support during the years. The tour will include Don Henley, Joe Walsh, Timothy B. Schmit, Vince Gill, and Deacon Frey, with a commitment to accommodate audience demand. The addition of six new dates between January 19 and March 13 next year was also announced. Pre-sale for these dates begins on November 1, with general on-sale on November 3 at 10 a.m. local time.

NEW DELHI : The government has hired Boston Consulting Group (BCG) to help prepare the Vision 2047 document that will set India’s medium-term goals and priorities for becoming a developed economy in the next quarter of a century, two people aware of the development said. The vision document, expected to be unveiled by the Prime Minister Narendra Modi, will outline an economic strategy towards becoming a middle-income nation by leveraging India’s strengths in industry, services, agriculture, trade and human capital while improving the governance systems and access to public goods. Making economic progress inclusive will be a key element of the vision document.

New York Knicks will be playing Boston Celtics in the key Eastern Conference NBA game on Wednesday night. In the previous season, New York concluded with a 47-35 record, progressing to the second round of the playoffs. On the other hand, Boston wrapped up the previous season with an impressive 57-25 record but faced a seven-game defeat against Miami in 2023 NBA Finals.

JetBlue says it will expand its transatlantic flying next spring and summer

NBA season officially begins Tuesday and the first game will be played between the defending champion Denver Nuggets and the L.A Lakers. It will be followed by the Golden State Warriors vs. the Phoenix Suns game. TNT has the exclusive rights for Tuesday night’s games. It will come out with a variety of ways to stream the action live online without cable.