Thursday, December 10, 2009

Daily Business Update from the Boston Globe

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Thursday, December 10, 2009

Ex Ropes & Gray attorney charged in SEC inquiry
Globe Staff The Securities and Exchange Commission said today that it has charged another former Ropes & Gray LLP attorney in the SEC's ongoing investigation into a $20 million insider trading ring involving Wall Street traders, lawyers, and hedge fund managers....

Some FiOS customers can opt for caller ID on TV
Globe Staff Verizon Communications Inc. said it has launched a new feature for FiOS TV and voice customers - Caller ID on TV. At no additional charge, customers who qualify and opt to use the new service will see...

Facet rejects Biogen Idec offer again
By Robert Weisman, Globe Staff  For the second time in three months, the board of Facet Biotech Corp. has rebuffed a takeover offer from Cambridge's Biogen Idec Inc., unanimously recommending that its shareowners not tender their stock to Biogen...

Getting fiscally fit is a popular New Year's resolution
Globe Staff  Buffing up the bottom line is a New Year's resolution that is now nearly as popular as losing weight. So suggests a new survey from Fidelity Investments. The Boston mutual funds giant said it commissioned a telephone...

MassArt gets funding for new dorm
By Chris Reidy, Globe Staff The Massachusetts College of Art and Design said it has secured funding to build a $61 million residence hall on Boston's Huntington Avenue near Ruggles Street. With 21 stories, the building will add 145,000...

Subway has big expansion plans for Massachusetts
By Chris Reidy, Globe Staff The Subway restaurant chain, which specializes in submarine sandwiches, said it plans to increase its presence in Eastern and Central Massachusetts by roughly 130 stores over the next five years.There are currently 175 Subway...

Smartphones grab big share of handset sales
Globe Staff The smartphone market will climb to 37 percent of global handset sales in 2014 with emerging markets as the key growth engine, according to a new report from Pyramid Research. Cambridge-based Pyramid estimates that smartphones will account for...

Who, What, Where
Globe Staff Nancy J. Wysenski has been appointed as executive vice president and chief commercial officer of Vertex Pharmaceuticals Inc., a Cambridge biotechnology company. Before joining Vertex, Wysenski held the position of chief operating officer at Endo Pharmaceuticals, a 1,200-person...

Epsilon partners with Bentley University
Globe Staff Epsilon, a marketing services firm headquartered in Texas, said it will provide Bentley University in Waltham with with its DREAM e-mail marketing platform. With the platform, "students and faculty will be trained and have the ability to deploy...

Today in Globe Business
Health insurers mum on practices Executives from some of the state?s leading health insurance companies, facing an unusual public grilling from state regulators yesterday, refused to answer key questions about why some hospitals and doctors are paid up to three...

Wednesday, December 9, 2009

Putnam Investments cuts 104 jobs
By Todd Wallack, Globe Staff The Boston money manager Putnam Investments eliminated 104 jobs today, mostly in Andover and Boston, as it seeks to become more efficient, spokesman Jon Goldstein said. The cuts amount to nearly 6 percent of the...

State fines Ruby Tuesday supplier for underweight steaks
Don't scrimp on the steaks. That's the message from the Massachusetts Office of Consumer Affairs to Ruby Tuesday, whose supplier was fined $700 for serving steaks smaller than advertised at five restaurants in Attleboro, Springfield, Swansea, Taunton, and Worcester. Ruby...

KPN gives iBasis shareholders 10 more days to sell
Associated Press Dutch telecommunications company KPN NV said today that it has extended its cash offer of $3 per share for stock of iBasis Inc., a Burlington-based wholesale international long distance carrier, until Dec. 18. The tender offer for the...

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