Friday, July 17, 2009

Daily Business Update from the Boston Globe

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Friday, July 17, 2009

AirTran offers free WiFi promotion
In the latest response to Southwest Airline?s decision to begin service out of Boston in mid-August, AirTran Airways will offer free WiFi from Aug. 1 to Sept. 1 aboard its flights between Logan International Airport and Baltimore-Washington International Thurgood...

City approves Spaulding Rehab's $200m project
By Casey Ross, Globe Staff Boston officials have approved a plan by Spaudling Rehabilitation Hospital to build a $200 million medical center in the Charlestown Navy Yard. The hospital, one of the nation's largest rehabilitation facilities, will move into...

Summers says economy pulled back from catastrophe
Associated Press President Barack Obama's top economic adviser says the nation has moved back substantially from the brink of an economic catastrophe it faced at the beginning of the year. Lawrence Summers, the director of the National Economic Council and...

Biopure files for bankruptcy
Biopure Corporation announced yesterday that it has filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code. Biopure will continue to manage and operate its businesses and assets during the bankruptcy, subject to the supervision...

Bingham McCutchen hires Christopher Cox
Bingham McCutchen LLP has hired Christopher Cox, who was chairman of the U.S. Securities and Exchange Commission under President George W. Bush, to continue the Boston-based law firm?s growth in Southern California. Cox, 56, will join the corporate, mergers and...

ModusLink co-founds TagVault.org
ModusLink Open Channel Solutions, Inc., a provider of e-business and entitlement management solutions, has announced that it has joined with CA and Symantec to co-found TagVault.org. TagVault.org is a non-profit organization focused on formulating universally recognized standards for software identification....

HP to acquire storage software developer Ibrix
Hewlett-Packard Co. said today that it is buying storage software developer Ibrix Inc. Terms of the deal were not disclosed. The acquisition is expected to close in 30 days. The Billerica, Mass.-based Ibrix develops software that helps businesses store massive...

Survey: Boston drivers are "courageous commuters"
TomTom Inc., a provider of navigation solutions and digital maps based in Concord, recently conducted a survey of American drivers in seven cities to determine each city's "driving personality." The results are in, and Boston's personality is... the "courageous...

GE revenue falls short
General Electric Co said profit fell by almost half, on a deeper drop in revenue than Wall Street expected, as the slump that has gripped its finance and media businesses took hold of its heavy industrial units. The largest U.S....

Alnylam, Novartis extend deal to develop gene silencer drugs
Associated Press Biotechnology company Alnylam Pharmaceuticals Inc., said today it extended a long-standing contract with Novartis focusing on developing drugs using RNAi, or gene silencing, technology. This marks the second extension by Novartis, as well as the fifth and...

Today in Globe Business
Menino offers loan to keep Banner afloat The City of Boston will offer to loan the Bay State Banner up to $200,000 to keep the cash-strapped weekly newspaper from shutting down permanently, Mayor Thomas M. Menino said last night. The...

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