Daily Business Update from the Boston Globe

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	ADVERTISEMENT Tuesday, November 2, 2010 American Semiconductor reports doubled profits in 2Q American Superconductor Corp., which makes technologies for the power industry, said Tuesday its fiscal second quarter profit more than doubled as its revenue shot up 36 percent on strong demand from its customers. Cambridge biotech Acceleron reveals staff cuts Acceleron Pharma Inc., a Cambridge biotechnology company, has told the state it cut 57 employees, or roughly 40 percent of its workforce, late last month. Oracle to buy Cambridge software firm ATG for $1 bil Business software maker Oracle said Tuesday it has agreed to acquire e-commerce software maker Art Technology Group Inc. for $1 billion in cash. Monday, November 1, 2010 Jaffe, Cohmad settles with SEC over Madoff funds Federal regulators settled charges with Boston broker Robert Jaffe and Cohmad Securities Corp. that they were reckless and failed in their duty to protect investors when they urged clients to entrust more than $1 billion to swindler Bernard Madoff. Developer plans hotel near Fenway A Boston developer is proposing to build a new hotel on Brookline Avenue near Fenway Park, scrapping prior plans for a lab and office building on the property. Elections may set record for Internet viewing Tomorrow's US congressional elections may lead to a landslide of Internet traffic. Akamai Technologies Inc., the Cambridge company that delivers bulk Internet data for major businesses, said that viewership of Internet election news videos could break the record set earlier this year by the World Cup soccer tournament in South Africa. Vertex reports progress with Hep C treatment Vertex Pharmaceuticals Inc. of Cambridge reported over the weekend that its experimental drug telaprevir, a candidate to treat hepatitis C, successfully treats African Americans, a group that has traditionally not responded to other therapies. Gas prices take a little dip in Mass. After four straight weeks of rising gas prices, Massachusetts drivers are getting some minor relief at the pumps.