Thu. Nov. 10, 2011 John Hancock cuts 116 jobs in Boston
John Hancock Financial Services said today it is cutting 116 jobs in Boston, or about 3 percent of its local workforce. The insurance company, a unit of Manulife Financial of Canada, said the cutbacks are part of efforts to streamline operations and restructure its annuity business. But the company says it continues to hire in other areas and has 110 open positions. The company now has 3,750 workers in Boston. TD Bank: Holiday spending should hold steady
The majority of consumers are expected to spend an average of $670 on holiday gifts, about the same as last year, according to a new shopping poll commissioned by TD Bank. The poll found that 57 percent of respondents plan to spend about the same as last year; 28 percent plan to spend less, and 14 percent plan to spend more. Nearly 40 percent of consumers surveyed said they plan to pay for gifts with a credit card; 31 percent with debit cards, and 28 percent with cash. Coakley: proposed law would help lower number of foreclosures
Attorney General Martha Coakley testified on Beacon Hill this afternoon in favor of state legislation meant to push more lenders into working with financially-stressed homeowners to make their mortgage loans more affordable. Calling the proposal key to solving the foreclosure crisis in Massachusetts, Coakley said she plans to urge lawmakers to pass legislation that would require lenders to modify certain loans if it makes more economic sense than a property seizure. Applied Materials completes acquisition of Varian
Applied Materials Inc., the world’s largest maker of semiconductor fabrication equipment, has completed its previously announced acquisition of Varian Semiconductor Equipment Associates Inc. of Gloucester. In May, California-based Applied Materials disclosed plans to buy Varian for $4.9 billion. Varian makes tools and equipment to manufacture microchips for computers and other electronic devices. Applied Materials indicated that Varian’s technology would complement its own products to help manufacture chips with faster speeds and longer battery life for wireless devices such as smartphones. Genzyme appoints executives to lead MS and rare diseases units
Genzyme, a Cambridge biotechnology company, announced today the appointment of William Sibold as head of multiple sclerosis and Rogério Vivaldi as head of rare diseases. Rare diseases and multiple sclerosis are top priorities for Genzyme. Earlier this year, Genzyme was purchased by French drug maker Sanofi SA for $20.1 billion, and last month, Sanofi promoted David Meeker to be the chief executive of Genzyme. Sibold and Vivaldi will report to Meeker. Jumptap: Tablets show signs of emerging as e-commerce device of choice
Tablet computers such as the iPad are emerging as the device of choice for making online purchases, particularly among younger consumers, according to Jumptap, a Cambridge mobile search and advertising company. According to Jumptap, 63 percent of tablet owners now make purchases using their tablet device, versus 83 percent of personal computer owners. And what are the most popular purchases on mobile devices? Clothing, tickets to concerts and sporting events, and daily deals from the likes of Groupon, Jumptap said. MedicaMetrix wins award for ProstaGlove
MedicaMetrix Inc. has been awarded $10,000 in a WPI Venture Forum business plan competition for developing a medical device that promises to deliver more promising results on prostate-cancer screening. The competition is sponsored by the WPI Venture Forum, an organization of entrepreneurs and investors that meet at Worcester Polytechnic Institute. Part of the competition was funded by the Massachusetts Life Sciences Center, the agency charged with implementing the state’s $1 billion life sciences initiative. GateHouse lays off two publishers
GateHouse Media Inc., which owns about 100 newspapers in Massachusetts including The Patriot Ledger of Quincy, has laid off two of its local publishers. American Superconductor seeks $1.2 billion from Chinese firm
American Superconductor Corp. is seeking more than $1.2 billion in damages and payments for contracted shipments from its once-largest customer, a Chinese wind turbine maker accused of stealing the Devens firm’s technology. Hamilton Co. buys Malden shopping center
The Hamilton Co., a Boston real estate company, has bought a Malden shopping center known as Plaza 188 for $15.5 million. The 71,000-square-foot shopping center at 144-196 Commercial St. is fully occupied and anchored by a Super 88 grocery store, the Hamilton Co. said. Other tenants include Ace Hardware, Brookline Bank, and Dunkin’ Donuts. The seller is Commercial Street Venture LLC. The property was acquired with financing by Brookline Bank. Cessna taps Dassault Systèmes for more design software
Cessna Aircraft Co. has decided to upgrade the Dassault Systèmes’ 3D product design software it has been using to cost-efficiently design and manufacture aircraft, said Dassault Systèmes, a French company with a big presence in Massachusetts. Cessna has been a long-time user of such Dassault Systèmes’ platforms as CATIA and ENOVIA. The collaborative innovation platform ENOVIA was developed in Massachusetts. Cessna now plans to use Version 6 of the CATIA and ENOVIA software. | 
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