Thursday, May 5, 2011

Daily Business Update from the Boston Globe

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Thursday, May 5, 2011

PepsiCo's Nooyi set to speak at BC CEO Club
Inra K. Nooyi, chairman and chief executive of PepsiCo is scheduled to be the keynote speaker at the Boston College's Chief Executives� Club of Boston luncheon on May 13 at the Boston Harbor Hotel, BC said.

Mass. co. that grows fuel to build in New Mexico
A Massachusetts company that has invented a genetically-engineered organism that converts sunlight, water and carbon dioxide directly into fuel is building its first production facility in New Mexico.

Berkshire Wind dedicates large Mass. wind farm
Berkshire Wind Power Cooperative Corp. said today that it has dedicated the largest wind farm in Massachusetts so far, a 10-turbine, 15-megawatt facility that sits atop Brodie Mountain in Hancock.

Vertex finalizes Fan Pier deal
Vertex Pharmaceuticals today finalized a deal to move its offices to the Fan Pier development on the South Boston waterfront.

Former state energy officials join to form Rhumb Line, new consulting firm
By Scott Kirsner, Globe ColumnistA quartet of senior officials who served in the state's Executive Office of Energy and Environmental Affairs under Deval Patrick are forming a new consulting and project development firm, Rhumb Line Energy. The founders are Ian...

Telco Systems announces new chief executive
Telco Systems said that it has selected Itzik Weinstein as its new chief executive.

CVS Caremark 1Q profit falls on margins, costs
CVS Caremark Corp. said that its first-quarter net income fell nearly 8 percent on lower margins and higher costs.

TJX same-store sales rose 5 percent in April
TJX Cos., the Framingham-based operator of such off-price retail chains as T.J. Maxx, Marshalls, and HomeGoods, said its April same-store sales rose 5 percent when compared with same period a year ago, an increase that exceeded company expectations.

Zipcar launches public test of Android app
Zipcar, the Cambridge vehicle-sharing service that recently became a public company, said it has launched a public beta test of an Android app that will allow members with Android-enabled smartphones to reserve its vehicles.

Retail group urges new rules for food item pricing
The Retailers Association of Massachusetts said it is once again urging Beacon Hill to update what the association regards as "antiquated item pricing requirements" for food sellers.

Jumptap closes $25m financing round
Jumptap, a Cambridge company that provides targeted mobile advertising services, announced the completion of a $25 million financing round.

Wednesday, May 4, 2011

EMD Serono announces $44.3m civil settlement
EMD Serono Inc., a biopharmaceutical companay with operations in Rockland, said today that it has resolved a civil matter led by the US Attorney's office in Maryland concerning fees paid to physicians for speaking and consulting on behalf of one of its drugs.

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