Tue. Aug. 09, 2011 MassChallenge start-up class attracts more than $90m in funding
MassChallenge Inc. said its inaugural class of 111 start-ups has collectively secured about $90 million in funding and created 500 jobs over the past 12 months. The nonprofit describes its mission as seeking to catalyze a start-up renaissance by providing support such as free office space to early-stage entrepreneurs. MassChallenge launched its first start-up competition and accelerator program last year. Mass reaches $125 million settlement with subprime lender
The company formerly known as Option One will pay $125 million to resolve charges of unfair lending and discriminatory practices against thousands of Latino and black borrowers. PCMag.com: Apple, Best Buy have website disruptions because of problems at Akamai
A problem with service provided by Akamai Technologies Inc. “slowed or took down major websites Monday afternoon, including Apple.com,” PCMag.com is reporting. A spokesman for Akamai, an Internet data delivery company headquartered in Cambridge, confirmed that there was a problem for about 30 minutes yesterday afternoon, but that the problem has since been resolved. AIM’s business confidence index stabilized in July
A business confidence index maintained by the Associated Industries of Massachusetts stabilized in July after drops in May and June. On a 100-point scale, the confidence level of the state’s employer community posted a reading of 50.5 for July. AAA: Mass. gas prices fall 2 cents a gallon
The average price for gas in Massachusetts was $3.739 a gallon in the latest weekly survey from AAA, down 2 cents from the previous week’s average. It was the first time that the average dropped in a month, and it follows the decline in crude oil prices. The national average price is $3.65 a gallon. Bertucci’s taps Legal Sea Foods veteran to be its new executive chef
Bertucci’s Italian Restaurant, a Northborough-based chain of 94 locations known for brick-oven cuisine, said it has hired a former culinary director at Legal Sea Foods to be the third executive chef in Bertucci’s 30-year history. Bertucci’s new executive chef is Jeff Tenner. MassHousing closes renovation loans for East Boston and Dorchester
MassHousing, the state’s affordable housing bank, said that it has closed $28.9 million in loans to renovate and preserve nearly 500 public housing apartments in East Boston and Dorchester. A $19.9 million loan has been closed for Heritage Apartments, a 294-unit complex in East Boston. In addition, MassHousing said it has closed $9 million loan for the 177-unit Lower Mills Apartments in Dorchester. Both apartment communities, which are occupied by elderly and disabled residents, are owned by the Boston Housing Authority. Tribe expands hummus line-up
Tribe Mediterranean Foods said it is expanding its “already robust portfolio of hummus” with four new flavors as customers “continue to seek hummus that ranges from the traditional to bit more daring.” Taunton-based Tribe, which offers hummus in 19 flavors and two styles, said it is also debuting green packaging for its entire product line. Verizon reports cases of sabotage, warns of delays in customer service
Verizon reported a dozen cases of sabotaged cable lines and warned of delays in repairs and customer service on the second day of a strike involving 45,000 employees. State relents on beer rules for smaller brewers
The Alcoholic Beverages Control Commission today decided to ditch a licensing rule change that would have hurt more than two dozen Massachusetts craft brewers and, the beer makers said, could have put several companies out of business Alere launches $375m bid for Axis-Shield
Medical diagnostics company Alere Inc. said today that it bought a 6.4-percent stake in Axis-Shield PLC as part of an unsolicited $375 million offer for the company. Alere said it has acquired a total of 3.2 million shares of Axis-Shield, which develops and makes in vitro diagnostic tests. On Friday, Alere said it was making an offer for all shares of Axis-Shield. It said it would pay 460 pence ($7.51) per share for the company, and valued the deal at $375 million. | 
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