Thursday, September 24, 2009

Daily Business Update from the Boston Globe

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Thursday, September 24, 2009

Mass. Biotechnology Council is now MassBio
The Massachusetts Biotechnology Council said it is changing its name to MassBio and unveiling a new logo, which is shown at right. A press release from the group included a statement from its president and chief executive, Robert K. Coughlin,...

Shares in A123 IPO hit $19.28 in afternoon trading
By Erin Ailworth, Globe Staff The stock of A123 Systems Inc. was fetching $19.28 a share in early afternoon trading on the day of its debut on the Nasdaq Stock Market. Earlier today, before the market opened, the Watertown battery...

Mass. in line to receive $14.8m in energy grants
The US Department of Energy said that Massachusetts will receive nearly $14.8 million in funding from the American Recovery and Reinvestment Act to support energy efficiency and conservation activities. The majority of the Massachusetts allocation will be passed along to...

Newbury Street falls out of US shopping's top 10
(File photo: Lisa Poole for The Boston Globe) By Chris Reidy, Globe Staff At first glance, Newbury Street seems a glorious shrine to disposable income, an ideal venue for buying the latest fashions in elegant stores or sampling the...

Genzyme's Campath meets goal in study
Associated Press Genzyme Corp. said its leukemia treatment Campath, in combination with the chemotherapy drug Fludara, met a late-stage study goal of extending life without significant progression of the disease. The study involved 335 patients either taking the combination therapy...

State agency puts autumn under surveillance
In a bid to boost tourism during fall foliage season, the state's travel agency is putting some trees under surveillance. At www.massvacation.com, visitors can click on Web cams deployed around the state to get nearly real-time photos of verdant...

3Com's 1Q profit falls, but tops forecasts
Associated Press 3Com Corp., a network software and equipment maker headquartered in Marlborough, said its profit fell sharply in the first quarter from results that included a big gain a year earlier, but it still topped Wall Street expectations. The...

Fidelity launches Canadian business unit
Fidelity Investments, Boston mutual funds giant, announced the launch of Fidelity Clearing Canada ULC, a new business dedicated to providing clearing, custody, and back-office support services to Canadian brokerage firms and the Canadian brokerage arms of US firms. Richard Ness...

More changes at Evergreen Solar
By Chris Reidy, Globe Staff Evergreen Solar Inc., a Marlborough-based manufacturer of solar power products, today announced that J. Terry Bailey, senior vice president of marketing and sales, is leaving the company later this month to become chief executive of...

Report: Citigroup may abandon the Hub
By Todd Wallack, Globe Staff Citigroup Inc., which has about 31 bank branches in the Boston area, may abandon or scale back its presence in the area. The Wall Street Journal reported today that Citigroup plans to narrow its retail...

Life sciences center gets a funding approval
By Chris Reidy, Globe Staff The administration of Governor Deval L. Patrick said that the Massachusetts Life Science Center's board of directors has approved $90 million in capital funding toward the construction of the $405 million Albert Sherman Center Project...

CVS closes in on drug-store milestone
CVS/pharmacy plans to mark a milestone today - the Rhode Island-based chain operated by CVS Caremark Corp. is set to open its 7,000 drug store. The new store is located in Little Canada, Minn., the company said in a press...

Today in Globe Business
Building a bigger builder The two biggest builders in New England are joining forces: Suffolk Construction will acquire William A. Berry & Son, forming a 1,200-employee juggernaut that its principals say will be better positioned to compete nationally and to...

Wednesday, September 23, 2009

Large-scale development OK'd for Maine woods
Associated Press BANGOR, Maine -- A resort and residential development that would be the largest of its kind in Maine has been unanimously approved by a state planning board. Plum Creek Timber Co.'s proposal was approved today, nearly five years...

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