As it redevelops its Boston campus, Gillette launches big expansion in Andover
Gary Coombe, chief executive of P&G's grooming division, said the Andover project proves that the company is investing not just in its blades and razor business but in the future of US manufacturing and in the future of Greater Boston.
Advertisement
For Lieutenant Governor Kim Driscoll, the Andover expansion shows the importance of ensuring Massachusetts remains competitive for advanced manufacturing. With the 250th anniversary of the battles against the British troops in Lexington and Concord getting celebrated in both towns this week, Driscoll made sure to drop a few Revolution references in her speech, along with a joking apology to Coombe, for going to war against his home country. (Coombe is a U.K. native.)
Advertisement
'We want to make sure that revolutionary spirit that guided us 250 years ago continues,' Driscoll said. 'Guess what? It will, on this site.'
Senator Barry Finegold of Andover also joked with Coombe, thanking him for making his favorite razor.
'I've got to take a point of personal privilege, as we say: I want to personally thank you,' the clean-shaven Finegold said. 'I'm a Fusion5 guy. Every morning, I get the blades, and also the shaving cream. So thank you for keeping me clean for all these years. I appreciate that.'
This is an installment of our weekly Bold Types column about the movers and shakers on Boston's business scene.
Jon Chesto can be reached at
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNBC
21 minutes ago
- CNBC
Saudi Arabia's massive wealth fund sees $8 billion writedown in megaprojects
Saudi Arabia's mammoth sovereign wealth fund saw a major decline in investments in its so-called "gigaprojects," amounting to an $8 billion write-down at the end of 2024 — despite assets under management reaching nearly $1 trillion, according to its annual report. Gigaproject investments declined by 12.4% to 211 billion Saudi riyal ($56.2 billion). Meanwhile, assets overseen by the PIF climbed 19% from the end of 2023 to around $913 billion, making it one of the largest and fastest-growing sovereign wealth funds on the planet. The gigaprojects, which include the futuristic $500 billion Neom development, constituted 6% of the PIF's assets in 2024, down from 8% the year prior. The writedown comes amid lower global oil prices and a growing fiscal deficit for the Saudi kingdom, whose economy depends heavily on oil despite efforts to diversify it and substantial non-oil revenue growth. The PIF's annualized returns since 2017 dropped to 7.2% from 8.7% the previous year. The fund — which has significant holdings in a range of blue-chip companies like Uber and Tesla, and owns major sports franchises like LIV Golf and British soccer club Newcastle United — was also seen broadening its funding base, raising nearly $10 billion in public debt and $7 billion privately. International investments fell to 17% of the portfolio, down from 20% the year prior as the fund honed its focus on domestic investments. Part of the reason behind the PIF's significant jump in AUM is thanks to more of Saudi state oil giant Aramco being allocated to the fund. But analysts note that if crude prices continue to fall, as some industry forecasters expect will be the case, the percentage of revenue that the Saudi government and PIF will be able to derive from those oil investments is likely to decrease in tow. Lower oil prices, and reduced Aramco dividends due to lower oil demand projections, are expected to limit PIF's investment funds. In the meantime, it is expected to increase its investments in high-growth areas like artificial intelligence, analysts say. Neom, a new region in western Saudi Arabia being built from scratch that is roughly the size of Massachusetts, is part of Vision 2030, which aims to diversify the Saudi economy away from oil revenues and create new jobs and industries for its burgeoning young population. The brainchild of Saudi Crown Prince Mohammed bin Salman, Neom is slated to contain a number of futuristic cities and developments that the kingdom expects will bring in millions of new residents and revolutionize living and technology in the country. However, budget overruns, operational complications and global oil market conditions have forced the kingdom to scale back or entirely shelve some of those projects, sources who have worked on Neom have told CNBC. The cost of Neom as a whole has been estimated to cost anywhere between $500 billion and $1.5 trillion. After many years of seemingly unlimited spending, 2024 began to see an abrupt shift as the Saudi budget deficit grew and the price of a barrel of oil fell well below what the kingdom needs to balance its budget.
The Hill
an hour ago
- The Hill
Zelenskyy meets with UK leader Starmer as Europe braces for the Trump-Putin summit
LONDON (AP) — U.K. Prime Minister Keir Starmer welcomed Ukrainian President Volodymyr Zelenskyy to London on Thursday in a show of British support for Ukraine a day before a critical U.S.-Russia summit is set to take place in Alaska. The two embraced warmly outside Starmer's offices at 10 Downing Street without making any comments. Around an hour later, Starmer walked Zelenskyy back to his waiting car, and the two leaders shared another embrace as the Ukrainian president departed. Zelenskyy's trip to the British capital came a day after he took part in virtual meetings from Berlin with U.S. President Donald Trump and the leaders of several European countries. Those leaders said that Trump had assured them that he would make a priority of trying to achieve a ceasefire in Ukraine when he meets with Russian President Vladimir Putin on Friday in Anchorage. Both Zelenskyy and the Europeans have worried that the bilateral U.S.-Russia summit would leave them and their interests sidelined, and that any conclusions reached could favor Moscow and leave Ukraine and Europe's future security in jeopardy. Yet some of those leaders, like German Chancellor Friedrich Merz and French President Emmanuel Macron, praised Wednesday's video conference with Trump as constructive. Speaking after the meetings to reporters, Trump warned of 'very severe consequences' for Russia, if Putin doesn't agree to stop the war against Ukraine after Friday's meeting. Territorial integrity The Kremlin on Thursday said that the meeting between Trump and Putin in Alaska will start at 11:30 a.m. local time. Putin's foreign policy adviser, Yuri Ushakov, told reporters that Trump and Putin will first sit down for a one-on-one meeting followed by a meeting between the two delegations, and then talks will continue over 'a working breakfast.' Putin on Thursday held a meeting with top government officials on the upcoming summit. In a video released by the Kremlin, he said that the Trump administration was making 'quite energetic and sincere efforts to stop the hostilities' and to 'reach agreements that are of interest to all parties involved in this conflict.' Putin also suggested that agreements could be reached with the U.S. on nuclear arms control. Starmer said on Wednesday that the Alaska summit could be a path to a ceasefire in Ukraine, but also alluded to European concerns that Trump may strike a deal that forces Ukraine to cede territory to Russia. He warned that Western allies must be prepared to step up pressure on Russia if necessary. During a call on Wednesday among leaders of countries involved in the 'coalition of the willing' — those who are prepared to help police any future peace agreement between Moscow and Kyiv — Starmer stressed that any ceasefire deal must protect the 'territorial integrity' of Ukraine. 'International borders cannot be, and must not be changed by force,'' he said. Macron: Trump willing to share in security guarantees Kyiv has long insisted that safeguards against future Russian attacks provided by its Western allies would be a precondition for achieving a durable end to the fighting in Ukraine. Yet many Western governments have been hesitant to commit to engaging their military personnel. Countries in the 'coalition of the willing,' which include France and the U.K., have been trying for months to secure U.S. security backing should it be required. Following Wednesday's virtual meetings, Macron said that Trump told the assembled leaders that while NATO mustn't be part of future security guarantees, 'the United States and all the parties involved should take part.' 'It's a very important clarification that we have received,' Macron said. Trump didn't reference any U.S. commitments to providing security guarantees during his comments to reporters on Wednesday. Some Ukrainians skeptical With another high-level meeting on their country's future on the horizon, some Ukrainians expressed skepticism that any breakthroughs would be achieved during Friday's U.S.-Russia summit. Oleksandra Kozlova, 39, who works at a digital agency in Kyiv, told The Associated Press on Wednesday that she believes Ukrainians 'have already lost hope' that meaningful progress can be made on ending the nearly 3½-year-old war. 'I don't think this round will be decisive,' she said. 'There have already been enough meetings and negotiations promising us, ordinary people, that something will be resolved, that things will get better, that the war will end. Unfortunately, this has not happened, so personally I don't see any changes coming.' Anton Vyshniak, a car salesman in Kyiv, said that Ukraine's priority now should be saving the lives of its military service members, even at the expense of making territorial concessions. 'At the moment, the most important thing is to preserve the lives of male and female military personnel. After all, there are not many human resources left,' he said. 'Borders are borders, but human lives are priceless. Therefore, some principles can be disregarded here.' Russia and Ukraine trade strikes Zelenskyy said on Thursday that Ukraine had secured the release of 84 people from Russian captivity, including both soldiers and civilians. 'Almost all of them need medical care and significant rehabilitation,' Zelenskyy wrote on Telegram, adding that those freed included people held by Russia since 2014, 2016 and 2017, as well as soldiers who had defended the now Russian-occupied Ukrainian city of Mariupol. Russia's Ministry of Defense said Thursday that it too had received 84 soldiers as part of a prisoner of war exchange. Russian strikes in Ukraine's Sumy region overnight Wednesday resulted in numerous injuries, Ukrainian regional officials said. A missile strike on a village in the Seredyna-Budska community wounded a 7-year-old girl and a 27-year-old man, according to regional governor Oleh Hryhorov. The girl was hospitalized in stable condition. In the southern Kherson region, Russian artillery fire struck the village of Molodizhne on Thursday morning, wounding a 16-year-old boy, regional governor Oleksandr Prokudin said. In Russia, a Ukrainian drone attack damaged several apartment buildings in the southern city of Rostov-on-Don near the border with Ukraine where 13 civilians were wounded, according to acting governor of the region Yuri Slyusar. Two of the wounded were hospitalized in serious condition, Slyusar said. ___
Business Wire
an hour ago
- Business Wire
Driscoll's 'One Family, One Earth™' Campaign Recognized For Its Community-Driven Storytelling Approach
WATSONVILLE, Calif.--(BUSINESS WIRE)-- Driscoll's, the global market leader in fresh berries, was recognized for its 'One Family, One Earth™' campaign highlighting community investments and environmental sustainability initiatives. Part of the campaign includes a docuseries that demonstrates Driscoll's vision of enriching lives through the real stories of the growers, harvesters, employees and grocers who work together to bring Only the Finest Berries™ to consumers around the world. The docuseries spotlights Driscoll's commitments to the art of growing, environmental stewardship, a thriving workforce, and vibrant communities. 'Driscoll's is a family-owned business that started in 1904. For more than a century, we've cared deeply about the people who grow our berries and the communities in which we live and work,' said Garland Reiter, Jr., Chief Commercial Officer, Driscoll's. 'This campaign honors the people who pour their hearts and souls into bringing the most flavorful berries to tables all over the world.' The latest installments of the 'One Family, One Earth™' campaign embraces a new creative direction focused on long-form, educational storytelling. This approach positions Driscoll's as a socially and environmentally responsible brand. The campaign was recently recognized by international marketing bodies for its creative excellence and authenticity. Honors include: 2025 AVA Digital Awards - Platinum Winner Category: Video Production | Long Form Video | Video Series 2024 Marcom Awards - Platinum Winner Category: Video/Audio | Video/Film | Series 2025 Telly Awards - Bronze Winner Category: Campaign – Corporate Image 2025 Digiday Streaming and Video Awards - Finalist Category: Best Brand Film or Series 'One Family, One Earth™' continues to grow in scope and impact as Driscoll's deepens its investment in its berry-growing communities, and 2025 marks 20 years of Driscoll's Giving. As a community-based business, Driscoll's partners with independent growers, employees, and local experts to identify community needs, working with local community leaders and nonprofits to develop projects centered on purposeful investments supporting education, health, youth development, water stewardship, and conservation programs. Since 2005, Driscoll's employees have donated 117,867 volunteer hours supported with matching gifts to nonprofits. Driscoll's has awarded $29M in grants and sponsorships to over 585 organizations across 13 countries. This fall, Driscoll's will continue its partnership with Reading Is Fundamental, the nation's leading literacy nonprofit, to bring books and berries to underserved elementary schools in its California growing regions for the third year. For more information on 'One Family, One Earth™', visit About Driscoll's Driscoll's is the global market leader of fresh strawberries, blueberries, raspberries, and blackberries. With more than 100 years of farming heritage, Driscoll's is a pioneer of berry flavor innovation and the trusted consumer brand of Only the Finest Berries™. With more than 900 independent growers around the world, Driscoll's develops exclusive patented berry varieties using only traditional breeding methods that focus on growing great-tasting berries. A dedicated team of agronomists, breeders, sensory analysts, plant pathologists, and entomologists help grow baby seedlings that are then grown on local family farms. Driscoll's berries are grown in more than 20 countries and are available for consumers in more than 40 countries across North America, Australia, Europe, and China.
