Wednesday, October 27, 2010

Daily Business Update from the Boston Globe

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Wednesday, October 27, 2010

New transit center opens at T.F. Green Airport
WARWICK, R.I. -- A new transit center has opened at T.F. Green Airport in Warwick, which links travel by air, car, intercity bus, and commuter rail into one location.

P&G increasing sales with big brands, new products
Procter & Gamble Co. is slowly luring back budget-battered consumers to its big brands, while attracting new buyers around the globe by getting more products into emerging markets such as India and China.

HFF arranges refinancing for 66 Long Wharf
The Boston office of Holliday Fenoglio Fowler LP, or HFF, said that it has arranged a $12.5 million refinancing for 66 Long Wharf, a 77,655-square-foot office-and-retail property along Boston's waterfront.

French biotech will open Cambridge office
French biotechnology company IntegraGen Inc. today said it plans to open a US subsidiary based in Cambridge on Nov 1.

MFS plans move to 111 Huntington Ave.
MFS Investment Management, a firm known for mutual funds and money management services, will relocate its Boston operations from 500 Boylston St. to 111 Huntington Ave. in early 2013, a broker involved in the transaction said.

Brookline Bancorp agrees to buy First Ipswich
Brookline Bancorp Inc. has agreed to buy First Ipswich Bancorp in an all-cash transaction valued at $19.7 million, the two banks said.

Taunton field test a success, Verizon says
Verizon Communications Inc. said it has successfully completed a field trial of an advanced fiber-optic transmission technology known as XG-PON2, which is capable of delivering a 10 gigabits-per-second broadband connection.

Thermo Fisher 3Q profit jumps 21 percent
Waltham scientific instrument maker Thermo Fisher Scientific Inc. reported "excellent financial results" for its third quarter, with performance driven by strong growth in its instruments and equipment business.

Boston Properties 3Q FFO falls to $150.8 million
Boston Properties Inc., which recently bought the John Hancock Tower, said Tuesday its third-quarter funds from operations declined as expenses increased from a year earlier and partly offset higher revenue.

Tuesday, October 26, 2010

GlaxoSmithKline pays $750m to settle drug case
Federal prosecutors in Massachusetts say British drug maker GlaxoSmithKline PLC will pay $750 million to settle allegations that its subsidiary manufactured and sold adulterated drugs, including the popular antidepressant Paxil.

Mass. ranks 32nd in state tax-climate survey
Massachusetts ranked 32nd in the latest annual ranking of state business climates that was put together by the Tax Foundation, a nonpartisan, nonprofit organization that has monitored fiscal policy at the federal, state, and local levels since 1937.

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.

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