Thu. Oct. 27, 2011 Comcast is expanding broadband services in Boston’s ‘Innovation District’
Mayor Thomas M. Menino said today that Comcast Corp. has begun to expand the availability of its advanced fiber network in a section of the South Boston waterfront that Menino has dubbed the Innovation District. The City of Boston is seeking to convince technology and biotechnology companies that they should relocate all or some of their operations to the Innovation District, and those types of businesses often require broadband services such as Comcast provides. Mass. economic recovery continues to outpace nation’s
The state’s economic recovery continued to outpace the nation’s, though economists predicted shrinking global demand for the state’s technology products could hurt future growth, according to a new report by the University of Massachusetts. Massachusetts’ economy grew at an annual rate of 3.9 percent between July and September, up from 3.4 percent in the previous quarter. The US economy saw even better growth during the same period, nearly doubling its rate of growth from 1.3 to 2.5 percent growth during the same period. Eastern Bank, MassDevelopment help Riverwalk Mill project in Lawrence
Eastern Bank, which recently opened a branch in Lawrence, has provided a $28.37 million financing package for Riverwalk Partners LLC, which is redeveloping the Riverwalk Mill complex in Lawrence. MassDevelopment, the state’s finance and development agency, added that it has provided a $6.5 million New Markets Tax Credit financing and $3 million leveraged loan to the project. NxStage Medical, a medical device company, has signed a lease to relocate its offices to the complex. Dunkin’ promo could land you a free JetBlue ticket: Have joe, may travel
Dunkin’ Donuts and JetBue Airways are gearing up for their latest joint promo: Anyone spotted drinking Dunkin’ coffee in public tomorrow has a chance to win a free flight on JetBlue. Plans call for giving away 43 round-trip tickets. Why 43? That will will be the number of nonstop markets that JetBlue will serve out of Logan International Airport once it adds service to St. Thomas in mid December. Russian firm invests in Bind, Selecta
Rusnano, a nanotechnology investment fund owned by the Russian government, is making major investments in two local life sciences companies --- Bind Biosciences of Cambridge and Selecta Biosciences Inc. of Watertown. Both companies now plan to establish subsidiaries in Russia. Robert Langer, a professor at the Massachusetts Institute of Technology, is a founder of both Bind and Selecta. Bind and Selecta are each getting $47.25 million in funding from groups that include Rusnano, existing investors, and additional new investors. Liberty Mutual unveils customizable annuity designed for boomers nearing or at retirement
Liberty Mutual, a Boston-based company known for home, auto, and business insurance, is looking to raise awareness for a new product it recently rolled out --- a highly customizable annuity that the company claims is ideal for baby boomers nearing or at retirement. The product is called the “Freedom Series Builder Annuity,” and options include a menu of features that offer extra safeguards and access to a customer’s money. Raytheon profit falls 3 percent on lower sales; boosts 2011 outlook
Raytheon Co., the world’s largest missile maker, said third-quarter profit declined 3 percent after sales and profit at its Integrated Defense and Network systems units fell. It raised its full-year earnings forecast. Income excluding some items fell to $489 million from $504 million a year earlier, the Waltham-based company said. Earnings per share increased to $1.39 a share from $1.35 in the previous year. The average estimate of 20 analysts surveyed by Bloomberg was for profit of $1.33 a share. Sales fell 2.2 percent to $6.13 billion. Freddie Mac’s Haldeman: New federal effort will ease, not solve, foreclosure crisis
The new federal effort to help troubled homeowners refinance their homes will help -- but come nowhere near solving -- the country’s current foreclosure crisis, the head of mortgage giant Freddie Mac said today. Charles E. “Ed” Haldeman Jr. said the Obama Administration’s plan to expand the so-called Home Affordable Refinance Program will improve the two-year-old program that hasn’t helped as many families as originally hoped. Haldeman spoke today to Boston College’s Chief Executives’ Club of Boston. iRobot cuts 55 jobs, including 44 in Massachusetts
Bedford’s iRobot Corp. has laid off 8 percent of its work force, including 44 jobs in Massachusetts, because of anticipated cutbacks in government defense spending. All told, 55 employees were let go. The company makes home robots, which perform such household tasks as vacuum-cleaning. It also makes robots for military services and law enforcement agencies. Its PackBot robot can scout battlefields and perform bomb-disposal missions. Military and industrial robots currently account for about 40 percent of iRobot’s annual revenue. Boston consumers worried, but will spend on holiday shopping
Consumers in Boston are feeling less optimistic about the economy and their personal finances than shoppers nationally, yet plan to spend more on holiday gifts than the US average. Novartis still cutting jobs, but Cambridge employees are safe
Swiss drug maker Novartis AG, which yesterday | 
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