Wednesday, September 23, 2009

Daily Business Update from the Boston Globe

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Wednesday, September 23, 2009

State Street will provide financial services to QIC
State Street Corp., the Boston company that provides financial services to institutional investors, said it has been appointed to provide a full range of investment services for QIC?s new Irish-domiciled qualified investment fund. QIC is an Australian institutional fund manager,...

Starent leases more space in Tewksbury
Starent Networks Corp., a maker of cellular data networking equipment, is leasing more space in its corporate hometown of Tewksbury, said a broker involved in the transaction. The broker is Jones Lang LaSalle, which said that Starent Networks has signed...

Galvin opens rating agency inquiry
Massachusetts Secretary of State William F. Galvin said that his office has begun an inquiry into how credit rating agencies will evaluate and rate securitization of life settlements - life insurance policies that ill and elderly people sell for cash....

FedEx expands its Northborough presence
FedEx Corp. has nearly doubled its presence at a Northborough warehouse and distribution facility, said a broker involved in a FedEx lease transaction. The broker is Richards Barry Joyce & Partners LLC, a commercial real estate advisory firm that represented...

Gov. Patrick says state will boycott Hyatt if it doesn't rehire workers
By Katie Johnston Chase, Globe Staff Governor Deval Patrick plans to direct state employees to boycott the Hyatt while conducting state business unless the hotel company rehires the housekeepers it fired, he said in a letter sent yesterday to Hyatt...

Mzinga completes $10 million round of financing
Mzinga, a Burlington-based provider of social software, services, and analytics, said it has completed a $10 million round of financing. "New investors Acadia Woods Partners and BlueCrest Venture Finance Master Fund were joined by existing investors W Capital Partners and...

Momenta Pharma expects to get $40.6m from offering
Associated Press Cambridge biotechnology company Momenta Pharmaceuticals Inc. said it priced an underwritten offering of 4 million shares at $10.75 per share, a 7 percent discount from Tuesday's closing price. After underwriting discounts and commissions and estimated offering expenses, Momenta...

IPO share price rises for battery maker A123
By Steven Syre, Globe Staff Underwriters have increased the estimated price range for the initial public stock offering of A123 Systems Inc., which could increase proceeds to the Watertown battery maker by nearly $100 million. Shares in the A123 IPO...

Who, What, Where
Henry Ng has been appointed to the position of general manager of Asian Operations for Evergreen Solar Inc., a Marlborough-based manufacturer of solar power products. Prior to joining Evergreen Solar, Ng was general manager of the Suntech Power Holding Co....

Raytheon gets $81.1m Navy deal
Associated Press Raytheon Co., the Waltham defense contractor, received an $81.1 million contract from the Navy to buy 23 sonar systems for the MH-60R helicopter program, the Pentagon said. Work will be performed in Brest, France; Portsmouth, R.I.; and Gaithersburg,...

Genzyme gives update on Cerezyme, Fabrazyme
By Chris Reidy, Globe Staff Genzyme Corp., the Cambridge biotechnology company that temporarily halted production of some of its drugs after a virus infected a bioreactor at its Allston Landing plant, said today that it is now about half-way through...

AMSC forms unit to serve South Korea
American Superconductor Corp., the Devens-based energy technologies company, said in a press release that it has formed AMSC Korea to serve South Korea rapidly growing wind energy and power grid markets. In a separate press release, American Superconductor, which refers...

Goings on about town
Locals loitering near the Prudential Center could see a British invasion of sorts today. VisitBritain, the national tourist office for England, Scotland and Wales, and Virgin Atlantic Airways, plan to hold a one-day event called "Get More Britain for your...

Reports: Microsoft buys Waltham firm
Technology giant Microsoft Corp. has acquired the technology assets of Interactive Supercomputing for an undisclosed sum, various websites such as New England Tech Wire and BNET.com are reporting. On its website, Waltham-based Interactive Supercomputing posted the following news update: "We...

Hub firm launches with clinical informatics focus
Humedica announced its official launch. The Boston company describes itself on its website as "a next-generation informatics company that provides novel business intelligence to the health care industry. Through cutting edge analytics, Humedica connects patient information across varied medical settings...

Today in Globe Business
Franchisees say Dunkin's brewing trouble Dunkin? Donuts franchisees, embroiled in more than 350 lawsuits with the coffee chain, are accusing the company of aggressively targeting shop owners in an effort to terminate store agreements and collect hefty penalties for alleged...

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