Immuta to increase its workforce – The Boston Globe

SOFTWARE

Immuta increases its workforce

Boston Software Company Immuta plans to increase its workforce by around 225 people from 100 people this year to meet demand for its data management software, having nearly doubled its workforce in 2021. Chief executive Matthew Carroll outlined plans to hiring company in an interview with the Globe, saying Boston is a good place to hire talent in part because of the high concentration of universities and enterprise software companies here. The new jobs will be primarily based in Boston, but some will be spread across other Immuta locations in College Park, MD, and Columbus, Ohio, as well as London and Sydney, and some will be entirely distant. Immuta’s software helps customers manage access to their databases and makes it easy to share that data. The company, based in a 16,000 square foot office in Fort Point, raised $90 million from venture capitalists last year, bringing its total venture capital funding to nearly $170 million. . New investors in this round included Greenspring Associates, March Capital, NGP Capital and Wipro Ventures. — JON CHESTO

MORTGAGES

Rates continue to rise

Average long-term mortgage rates rose again this week, with the key 30-year lending rate rising above 4.5% to its highest level since the end of 2018. Amid inflation at its highest level in four decades, the hikes in rates come weeks after the Federal Reserve raised its benchmark short-term interest rate by a quarter of a point – which it had kept near zero since the pandemic recession hit. struck two years ago – to cool the economy. The central bank announced potentially up to seven additional rate hikes this year. Mortgage buyer Freddie Mac reported on Thursday that the average rate on the 30-year loan this week rose to 4.67% from 4.42% last week. This is a stark contrast to last year’s record mortgage rates of around 3%. A year ago, the 30-year rate was 3.18%. The average rate on 15-year fixed-rate mortgages, popular among those refinancing their homes, jumped to 3.83% from 3.63% last week. — ASSOCIATED PRESS

SOCIAL NETWORKS

Trump cratering app downloads

The blank check company that publicizes Donald Trump’s media business is sinking with daily downloads for the former president’s social media app down 95% since its launch last month. Digital World Acquisition Corp., the special-purpose acquisition company merging with Trump Media & Technology Group, has lost 29% of its value since shares soared in late February when the Truth Social app launched on the Internet. ‘Apple App Store. Downloads have slowly dwindled to 8,000 a day after an initial boom of 170,000, according to research firm Apptopia. The number of daily active users on Apple devices over the past week was around 513,000, according to Apptopia estimates. — BLOOMBERG NEWS

CURRENCY

Parts shortage hurts some businesses

Got a dime you can spare? Parts are rare – again. Retailers, laundromats and other businesses that rely on coins want Americans to empty their piggy banks and look under sofa cushions for extra change and “wiggle the coins.” A group of trade associations representing individual businesses, including banks, retail outlets, truck stops, grocery stores, and more, are asking the Treasury Department for more help in convincing Americans to hand over the coins in circulation. The consequences of slow traffic are hitting people who don’t have the ability to pay for items electronically, they say. — ASSOCIATED PRESS

MEDIA

Caitlyn Jenner hired as a contributor at Fox

Fox News Channel has announced that it has hired Caitlyn Jenner as a contributor, with her first appearance scheduled for Thursday on Sean Hannity’s show. Jenner, the former Olympic decathlete, ran an unsuccessful campaign for governor of California last year. The network said it would offer commentary and analysis on various Fox News Media platforms. “Caitlyn’s story is an inspiration to us all,” said Suzanne Scott, CEO of Fox News Media. “She is a trailblazer in the LGBTQ+ community and her illustrious career spans a variety of areas that will be a tremendous asset to our audience.” Jenner won Olympic gold in the decathlon in 1976. She later came out as transgender and identifies as female. She said in a statement that she was “humbled by this unique opportunity” to speak directly to Fox audiences. — ASSOCIATED PRESS

LABOR

Nearly half of small businesses say they increased wages in March

A near-record 49% of U.S. small business owners said they increased workers’ compensation in March, which did little to reduce still-high job vacancies, the National Federation of Independent Businesses said Thursday. . The share of small businesses increasing workers’ compensation is just below the 50% seen in January, which was the highest in monthly data dating back to 1986. Some 28% said they planned to increase compensation during over the next three months, up slightly from February’s 26%. . — BLOOMBERG NEWS

PHARMACIES

Walgreens stock down as COVID bump could run out

Shares of Walgreens fell 5.63% on Thursday after the pharmaceutical giant left its outlook for the rest of the year unchanged, suggesting a surge in activity helped by demand for vaccines and tests COVID-19 is starting to wane. The drugstore operator on Thursday reported adjusted earnings of $1.59 per share, well above the $1.37 average estimate of analysts polled by Bloomberg. But it confirmed its annual forecast for adjusted earnings per share growth in the low single digits – a sign that the trends that led to the better-than-expected result this winter will not continue. Shares slid as much as 6.9% at 10:14 a.m. in New York, the most intraday since July. — BLOOMBERG NEWS

RETAIL

European clothing companies in trouble

H&M’s dismal earnings update on Thursday is just the latest setback for shares of European clothing retailers as they end a second straight quarter of underperformance. With a drop of 29%, Zara owner Inditex SA is heading for its worst quarter ever, after the 10% in the fourth quarter. H&M and Next did only marginally better as soaring energy prices following Russia’s invasion of Ukraine sapped disposable income and caused shoppers to reassess discretionary spending. — BLOOMBERG NEWS

BANKING

Barclays latest to raise wages

Barclays is raising wages for American workers by at least 21% to $20.50 an hour instead of $17, joining the ranks of lenders raising pay for their lowest-paid staff. The rise is expected to begin this month and applies to more than 900 staff mainly linked to the firm’s consumer banking, Barclays said in a statement. The new rate will vary based on location and cost of living indices. — BLOOMBERG NEWS

Michael A. Bynum