Tuesday, October 26, 2010

Daily Business Update from the Boston Globe

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Tuesday, October 26, 2010

Affiliated Managers 3Q earnings almost double
Asset manager Affiliated Managers Group Inc. said that its third-quarter net income nearly doubled as new acquisitions and client investments boosted its asset size by nearly 35 percent.

Waters Corp. 3Q earnings up 25 percent
Waters Corp., a maker of scientific instruments, said third-quarter profit increased by 25 percent as revenue rose, partly on demand for new products.

LaSalle Investment Management hires State Street
State Street Corp. said today that it has been selected by LaSalle Investment Management to provide fund administration services for $2 billion in assets on behalf of the LaSalle Property Fund LP.

Celtic Therapeutics, Resolvyx disclose an alliance
Celtic Therapeutics Holdings Inc. and Resolvyx Pharmaceuticals disclosed an alliance relating to a Resolvyx drug candidate for dry-eye syndrome.

Ozzie: Cloud may mean dawning of a post-PC world
On his way out the door, retiring Microsoft Corp. chief software architect Ray Ozzie has challenged his colleagues to prepare for a world in which the desktop computer no longer dominates.

MHP gets $4m grant for affordable rental housing
The Massachusetts Housing Partnership said it has been awarded a $4 million federal grant that will help it "secure hundreds of millions of dollars in affordable rental housing financing for Massachusetts."

Biogen Idec reports 3Q results
Biogen Idec Inc., the Weston biotechnology company, said today that its profit fell 8.5 percent in the third quarter on higher costs and expenses, including acquisition charges.

AT&T selects Fidelity as sole retirement provider
Fidelity Investments, the Boston mutual funds company that provides workplace retirement savings plans, said it has been chosen by AT&T Inc. as its sole retirement provider.

Investor confidence index falls
Global investor confidence fell 1.9 points from September�s revised reading of 88.1 to 86.2, according to a monthly index maintained by State Street Global Markets, the investment research and trading arm of State Street Corp.

Healey will become chairman of AMG
Affiliated Managers Group Inc., a company also known as AMG, said that president and chief executive Sean M. Healey will also hold the title of chairman, effective Jan.1.

Staples taps de-clutter guru
Office supply giant Staples said it's teaming up with Lorie Marrero, a certified professional organizer and founder of the celebrated Clutter Diet.

Decision Resources moves to Burlington
Decision Resources Inc. said it has moved its global corporate headquarters from Waltham to Burlington.

Mass. home sales dropped 12.9 percent last month
Sales for single-family homes in Massachusetts fell 12.9 percent in September when compared with the same month a year ago, said the Warren Group, a Boston firm that tracks local real estate activity.

Monday, October 25, 2010

AG investigating Newton law firm's foreclosure work
By Jenifer B. McKim, Globe Staff Harmon Law Offices, a Newton firm that specializes in foreclosures, is being investigated by the state attorney general's office for allegedly unlawfully evicting residents from bank-owned properties. State officials want to determine whether Harmon...

New England Coffee will soon perk up Colorado
New England Coffee Co., a Malden company whose coffee can be found in many local supermarkets up and down the East Coast, said it has entered a partnership that will get its brand into Colorado.

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