Wednesday, June 29, 2011

Daily Business Update from the Boston Globe

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Wed. Jun. 29, 2011

Downtown Crossing: a sweet spot for cupcakes
A cupcake store called Sweet has just opened in Downtown Crossing. And a cupcake rival has plans to open a store nearby. If your idea of dessert is a cupcake shaped like an ice cream cone, Sweet has you covered. One top-selling item: the red velvet.

State overcharged by $30 million on foreign exchange transactions
Treasurer Steven Grossman today said the state pension fund suffered even higher overcharges on foreign exchange transactions than previously disclosed -- $30.5 million dating back to 2000.

Mass. officials unveil life sciences partnerships
Massachusetts officials this morning unveiled new life sciences partnership deals with Israel, Northern Ireland, and Finland at the Biotechnology Industry Organization annual convention in Washington, D.C.

Gonzalez to pitch for Eastern Bank
Red Sox first baseman Adrian Gonzalez is the centerpiece of a marketing campaign that promotes Eastern Bank’s charitable giving program, which focuses on many Habitat for Humanity affiliates in Eastern Massachusetts, the bank said today.

Acetylon Pharmaceuticals completes $27m financing round
Acetylon Pharmaceuticals Inc. said today that it has completed a $27 million Series B preferred equity investment round of financing.

AS&E is awarded Pentagon contract
American Science and Engineering Inc. (AS&E) said it has been awarded a contract with a potential value of up to $248.5 million to provide the US Department of Defense with inspection systems that can screen cargo and people.

BJ’s to be sold for $2.8 billion
BJ’s, the wholesale club retail chain based in Westborough, said it has agreed to be purchased by two private equity firms in a deal valued at about $2.8 billion.

Brookside fined by SEC for trading violation
Brookside Capital, an $11 billion hedge fund that’s part of Boston-based investment giant Bain Capital, has been sanctioned by federal securities regulators for short-selling in a stock, or betting it would fall, and then buying the stock in a secondary offering.

Tech Collaborative names executive director
For the first time in 30 years, a woman has been named executive director of the Massachusetts Technology Collaborative.

Dunkin’s Captain America ad is now airing
Dunkin’ Donuts has just broken a TV ad that highlights its marketing partneship with Marvel Studios and Marvel’s upcoming Captain America movie. The ad was created by Boston ad agency Hill Holliday.

Bruins also won the ratings game
The Boston Bruins scored big ratings for WHDH-TV (Channel 7). The National Hockey League final game on June 15, in which the Bruins beat the Vancouver Canucks to win the Stanley Cup, drew 1.8 million total viewers in Boston, making the broadcast the most viewed program in Boston this month, according to recent Nielsen ratings.

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