Thursday, October 21, 2010

Daily Business Update from the Boston Globe

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Globe Today

Thursday, October 21, 2010

New Balance is title sponsor of Falmouth Road Race
New Balance, the Boston athletic footwear and apparel company, said it has signed a multi-year title sponsorship deal with the historic Falmouth Road Race, which will be renamed the New Balance Falmouth Road Race.

Justice grills Caritas on pensions
Although it has no legal responsibility to fund its employee pensions, Caritas Christi Health Care never considered walking away from the obligation before it agreed to be acquired by a private equity firm.

Mass. unemployment rate falls to 8.4 percent
The Massachusetts unemployment rate dropped from 8.8 percent in August to 8.4 percent in September, the steepest drop since January 1976, state labor officials said this morning.

Stronger growth for remodeling projected
Home improvement budgets could increase in 2011 after a three-year decline, Harvard University's Joint Center for Housing Studies said.

Who, What, Where
A sample of recent personnel announcements by local firms.

Dicerna secures an additional $4m
Dicerna Pharmaceuticals Inc. announced a second closing of its Series B equity financing, securing an additional $4 million and bringing the total capital raised in this round to $29 million.

Mass. foreclosure petitions drop in September
The number of Massachusetts foreclosures started by lenders last month dropped nearly 7 percent from a year ago and about 23 percent from August 2010, said the Warren Group, a Boston firm that tracks local real estate activity.

SJC justice to review Caritas sale
A single justice of the state's highest court is scheduled to review the proposed sale of six Boston-area hospitals to a private equity firm that intends to turn the chain into a for-profit venture.

Banca Mediolanum turns to State Street
State Street Corp., the Boston-based financial services company, said that it has been appointed to provide custody services for Banca Mediolanum�s Italian assets.

Wednesday, October 20, 2010

Local group says it wants to buy The Boston Globe
A group of more than a dozen investors and management specialists will offer to buy The Boston Globe from its long-time owner, The New York Times Co., the leader of the group said.

Regional recovery continues but hiring limited
New England's economic recovery continues to advance as most businesses report improving sales, but limited hiring, according to a Federal Reserve survey released today.

Alkermes shares fall on FDA’s Bydureon rejection
Shares of Alkermes Inc. fell in afternoon trading after federal regulators declined to OK a diabetes drug candidate that Waltham-based Alkermes is collaborating on with other drug companies.

3 Maine newspapers put stop to online commenting
PORTLAND, Maine -- Three Maine newspapers have halted online comments on stories posted on their websites.

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