Monday, August 16, 2010

Daily Business Update from the Boston Globe

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Globe Today

Monday, August 16, 2010

Southwest celebrates its Logan anniversary
Southwest Airlines is celebrating its one-year anniversary at Logan International Airport with festivities and a fare sale.

Harvard rebalances endowment portfolio
Contrary to a blog report, the Harvard University endowment has made no change in its stand on investing in Israel.

First Marblehead posts smaller fiscal 4Q loss
BOSTON -- First Marblehead Corp., which works with banks and credit unions to administer student loans and package them for sale to investors, said its fiscal fourth-quarter loss narrowed from a year ago due to fewer loan losses.

Once sold for $12.5b, Lycos has $36m price tag
Lycos Inc., a one-time darling of the dot.com age that once sold for $12.5 billion in 2000 , is in line to get a new owner.

24M Technologies secures $10m in VC funding
24M Technologies announced its launch today and said it has launched today and said it has secured in $10 million in Series A financing from Charles River Ventures and North Bridge Venture Partners.

Local gas prices fall a penny a gallon
Gasoline prices in Massachusetts fell a penny to $2.689 a gallon in the latest weekly AAA survey, AAA of Southern New England said.

NaviSite has a new CEO
NaviSite Inc., an Andover-based provider of complex hosting, application management and managed cloud services for enterprises, said today that Arthur P. Becker has stepped down as company chief executive, effective immediately.

Casual Male opens Vegas Destination XL store
Casual Male Retail Group Inc., the Canton-based haberdasher that specializes in outfitting out-sized men, said it has opened the latest store in its new Destination XL superstore chain, this one in Las Vegas.

Bruker agrees to buy instrument businesses
Bruker Corp. said it has agreed to acquire the scanning probe microscopy and optical industrial metrology instruments business from Veeco Instruments Inc. for $229 million in cash.

Selecta taps Cautreels, wins $3m grant
Selecta hires Solvay vet Cautreels as its new CEO and lands $3m grant to advance its nicotine vaccine.

Today in Globe Business
A sample of Business stories from today's Globe.

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