Business and industry news from around the web: May 6 – 10, 2019

U.S. first-quarter productivity rises at the fastest pace since 2014
The Labor Department says nonfarm productivity, which measures hourly output per worker, increased at a 3.6% annualized rate in the last quarter. That was the strongest pace since the third quarter of 2014.

It’s time to pay attention to the $15 trillion business of growing old
Marketers have it wrong. The most important consumer group isn’t the 18-to-24 set, as conventional business wisdom has it — it’s older adults.

U.S. says it will raise tariffs after China reneges on vows
President Trump’s top trade negotiator said the U.S. plans to raise tariffs on Chinese goods, accusing Beijing of backpedaling on commitments it made during negotiations.

Why diversity gives businesses a competitive advantage
While awareness of diversity and inclusion as a competitive advantage is rising, progress on such initiatives has been slow, according to a report. Although the study found a correlation between gender and ethnic diversity, women and minorities remain underrepresented in the corporate pipeline.

Tech Corner — New nationwide in-car payment technology launches in Massachusetts
A first-in-the-nation breakthrough payment solution that lets drivers purchase gas from their car without taking out cash, a credit card or a mobile app is now available in Westborough, MA. PayByCar allows drivers to simplify and speed up non-toll transactions such as gas purchases.