Friday, June 19, 2009

Daily Business Update from the Boston Globe

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Friday, June 19, 2009

Exact Sciences moves to Wisconsin
A company developing new technology to screen for colorectal cancer is moving from Massachusetts to Madison. The Wisconsin Department of Commerce awarded Exact Sciences Corp. of Marlborough a $1 million loan to help with the move. The firm is developing...

Raytheon, Boeing expanding unmanned systems
Raytheon's KillerBee drone Raytheon Co. and Boeing Co. aim to challenge Northrop Grumman Corp. in unmanned aircraft, a market Northrop has led since World War II. ?We clearly want to have a significant position,? Jim Albaugh, who leads Boeing?s...

RI tries to outlaw prostitution
The undercover police officer paid $60 to enter the Midori Spa just blocks from City Hall. A massage therapist rubbed the officer's back, then simulated a sex act with her right hand. "You want more?" Myong Kim asked, explaining it...

Hospitality Properties prices offering
Hospitality Properties Trust said late Thursday that it priced its public offering of its common shares at $11.50 per share. The real estate investment trust, which concentrates on hotel properties, also increased the offering's size to 17.5 million shares from...

JetBlue launches flights to Santo Domingo
JetBlue Airways today begins flights to its 31st destination from Boston: Santo Domingo, Dominican Republic. The airline is now offering nonstop service from Boston to Santo Domingo three days per week on Fridays, Saturdays, and Sundays, with plans to...

Smith & Wesson revenue tops expectations
Pistol maker Smith & Wesson Holding Corp. reported fourth-quarter revenue above Wall Street expectations yesterday, sending shares up nearly 12 percent in aftermarket trading. The company said its fiscal 2009 fourth-quarter revenue rose 20 percent to $99.5 million. Analysts polled...

Today in Globe Business
Boston renters can find deals as rising vacancy rates depress prices It?s a good time to be a renter in and around Boston. Apartment vacancy rates in the metro area are climbing to new highs, pushing down rents after nearly...

Thursday, June 18, 2009

Hoping for a deal, union sets date for contract vote
The largest union at The Boston Globe has set a date for a new contract ratification vote, even though it said it has not yet reached a tentative agreement with the newspaper?s owner, The New York Times Co. In a...

Feds could put a crimp in EMC bid
The U.S. government could hinder EMC Corp's $1.8 billion bid for Data Domain Inc., as antitrust regulators are expected to scrutinize it more closely than a competing offer by NetApp Inc. While by far the bigger company, EMC is in...

Sovereign bank sues the IRS
Sovereign Bancorp Inc. is suing the IRS to recover $235.2 million in taxes and penalties it says it was "erroneously and illegally" required to pay on a loan arrangement with Barclays Bank of England, according to a lawsuit filed in...

Local buyers to reopen Madoff brokerage
The local buyers of convicted Ponzi scheme operator Bernard Madoff's former brokerage have renamed the business Surge Trading Inc. and plan to reopen in the same midtown Manhattan office tower where the firm operated before scandal overtook the investment side...

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