Friday, August 26, 2011

Daily Business Update from the Boston Globe

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Fri. Aug. 26, 2011

Joule to relocate to Bedford
Joule Unlimited Technologies Inc., a company developing technology to make ethanol more efficiently, is “expanding and relocating its headquarters” from Cambridge to the Bedford Business Park in a move that will roughly double Joule’s space, said a broker involved in the transaction. The move is expected to take place early next year.

Partners posts higher third-quarter income
Partners HealthCare System Inc. reported substantially higher earnings for the three months ending June 30, crediting better investment performance, research revenue increases, and modest growth in patient discharges at its Boston-area hospitals.

Covidien signs on as Deutsche Bank Championship sponsor
The Deutsche Bank Championship, a local golf tournament held over Labor Day weekend at the TPC Boston golf course, announced a new partnership with Covidien, a global health care products company with US headquarters in Mansfield. The partnership will focus on health and wellness and will support local children’s programs.

Harvest Co-op inks deal for store at planned Forest Hills development
Local cooperative grocer Harvest Co-op Market has signed a lease to open a new, 9,000 square-foot store as the “anchor” retailer within a Forest Hills development in Boston that is expected to begin construction in the coming months. The store along Washington Street near the Forest Hills MBTA station is expected to open next fall, officials said. Earlier this spring, the market announced it had signed a letter of intent to negotiate a a new store lease at that site as well as another in Fenway.

Boston Marathon charity programs raise $16m
Participants running on behalf of various charities raised nearly $16 million this year in the 115th running of the Boston Marathon, up from $14.4 million the previous year, the race’s principal sponsor said. In 2011, the John Hancock component of the joint program raised more than $5.3 million, compared with $4.3 million in 2010. Beneficiaries included Massachusetts General Hospital, Joslin Diabetes Center, and Massachusetts Eye & Ear Infirmary.

NH home sales jump nearly 30 percent in July
Home sales in New Hampshire jumped nearly 30 percent last month when compared to July 2010, but the state realtors association is warning people not to get too excited. The New Hampshire Association of Realtors reported today that 1,048 homes were sold in July, up from 811 sales in the year-ago month.

Yates to head EMD Millipore
EMD Millipore, which sells products such as lab filtration equipment to biotechs, pharmaceutical companies, and academic research labs, said that Robert Yates will become its president on Sept. 1. The Billerica company, formerly known as Millipore Corp., was bought for $6 billion last year by Merck KGaA, a German drug and chemical giant.

Another Buffett masterstroke?
Warren Buffett has invested $5 billion in Bank of America Corp., at favorable terms. But the banking giant remains under a cloud due to mortgage losses and economic slowdown.

Herb Chambers readies new ad
Local auto dealer Herb Chambers is set to launch a new TV spot that features Kevin Youkilis of the Red Sox, hip-hop star Biz Markie --- and Chambers cast in the demanding role of himself.

Shire drug gets FDA approval
Shire plc, an Irish drug company that employs about 1,500 people in Massachusetts, said it has gotten regulatory approval to market a new treatment for hereditary angioedema in the United States. The drug is Firazyr, and it is aimed at adults with hereditary angioedema, or HAE, a rare genetic disease characterized by recurrent and often painful episodes of acute swelling. It can be life-threatening.

Verizon buys CloudSwitch
Verizon Communications Inc. said today that it has bought CloudSwitch, a 30-employee Burlington company that specializes in cloud software technology, for an undisclosed amount. Many of Verizon’s business customers are looking to migrate some of their operations to the cloud. CloudSwitch offers technology that makes this transition easier and securely, Verizon said.

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