Weekly Recap ; of Business News

NEW RATE-SETTING PLAN FOR AUTO INSURANCE

Gov. Deval Patrick's administration is trying to lure more auto insurers to the state with a plan to allow each company to submit its own set of rates to state regulators for approval. Currently, the state insurance commissioner approves a set of auto rates for all insurers, allowing little variety among the plans. Supporters of the proposed change, which is being pursued by Insurance Commissioner Nonnie Burns, say it could attract major national insurers who have avoided the Massachusetts market. But critics say it could leave many urban and young drivers stuck with much higher insurance bills.

CONVENTION CENTER EXPANSION POSSIBLE

The Boston Convention & Exhibition Center has been so successful in its first three years that its operators are already looking to expand it. The Massachusetts Convention Center Authority is looking for a firm to design a master plan for the convention center property in South Boston, with an eye toward redeveloping 22 acres behind the complex for a future expansion.

LAWMAKERS FINISH BILL TO FIGHT IDENTITY THEFT

The Legislature is finally giving consumers some protection from the prying eyes of would-be identity thieves. Lawmakers sent a long- awaited bill to Gov. Deval Patrick that would allow consumers to freeze access to their credit reports - essentially stopping a thief from getting credit with someone else's identity. The bill would also require companies to notify consumers if their personal data - such as a bank card number or Social Security number - has been compromised.

MASS. SEES BIG BOOST IN JOB CREATION

The state's sluggish job market received a welcome boost when Bay State employers added more than 8,000 jobs in just one month. June numbers released by state officials a few days ago show that Massachusetts is now halfway toward regaining the roughly 200,000 jobs that it lost in the economic downturn that ended in the fall of 2003. However, the state's unemployment rate of 4.9 percent is still higher than the national average of 4.5 percent.

STORE CLOSINGS DONE FOR NOW, TWEETER SAYS

The store closings are over at Tweeter, at least for now. Executives at the beleaguered home electronics company say they have no immediate plans to close any more stores - beyond the 49 store closings they announced in March - now that Tweeter has successfully emerged from bankruptcy with a new owner. The Canton-based company plans to focus on reinforcing its installation service operations at its remaining 103 shops.

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