Mon. Nov. 28, 2011 Royal Bank of Scotland company agrees to $52 million settlement with state over its role in subprime lending
A subsidiary of the Royal Bank of Scotland will pay $52 million for its role in the state’s “subprime mortgage meltdown,’’ Attorney General Martha Coakley said today, in an agreement that will help more than 700 Massachusetts borrowers. RBS Financial Products Inc. agreed to the settlement following claims that it financed, bought and bundled residential mortgage loans into securities that were “presumptively unfair” under state law, Coakley’s office said. Former Sox player Richardson settles insider trading charges
A former Major League infielder, who played briefly for the Red Sox, has settled allegations that he committed insider trading, federal regulators said Friday. Jeffrey S. Richardson, who played three seasons in the Major Leagues, including 15 games with the Red Sox, allegedly bought stock in Genesis Energy LP of Houston in 2007 after learning from an inside source that the company was on the verge of acquiring several energy-related firms. He allegedly also tipped off two family members and a friend about the deal. Mass. gas prices fall 2 cents a gallon
The average price for gas in Massachusetts was $3.319 a gallon in the latest weekly survey from AAA, down 2 cents from the previous week’s average, AAA Southern New England said. The current national average is $3.29. A year ago at this time, the Massachusetts average price was $2.92 a gallon. Bhatt will lead Progress Software
Progress Software Corp. of Bedford said that Jay Bhatt will take over as company president and chief executive, effective Dec. 5. Previously, Bhatt was a senior executive at Autodesk Inc., where he was responsible for Autodesk’s global architecture, engineering, and construction solutions division. Richard D. Reidy, who announced in August that he would leave Progress Software once a successor was found, will step down as president and chief executive and as a member of the Progress Software board on Dec. 5. Patrick to lead trade mission to Chile, Brazil
Governor Deval Patrick is heading to Chile and Brazil on a trade mission to promote economic ties between Massachusetts and the South American nations. A state delegation that includes business and academic leaders as well as government officials is scheduled to visit Chile on Thursday and Friday to promote partnership opportunities. A larger delegation is scheduled to visit Brazil from Dec. 4-9 with stops in Brasilia, Sao Paulo and Rio de Janeiro for visits to companies, universities and government agencies. Black Friday report: Sales lost momentum over the weekend
Door-buster discounts drove shoppers into the malls on Black Friday, but momentum failed to build through the holiday weekend, according to a report from NPD Group, a market research firm. One bright spot: Preliminary data suggest that many consumers bought items for themselves, NPD said. Last year, 35 percent of consumers purchased on Black Friday for themselves and this year, that number was to 46 percent. That means that these consumers still have to buy a lot of gifts for friends and loved ones. Acentech taps Zapfe
Acentech said that Jeffrey A. Zapfe has been named company president. With offices in Cambridge, Acentech specializes in acoustics, audiovisual systems design, and vibration control. The firm has roughly 50 consultants. Zapfe most recently served as the director of Acentech’s noise and vibration group. He assumes the role of president from Chris Savereid, who will continue his consulting work with the firm. Shoppers tell why they braved Black Friday lines
For some, Black Friday represents the thrill of the chase, for others, like Joyce Dailey, who drove here from Hyde Park in predawn darkness, the deep discounts are a lifeline. Shoppers flock to stores early to reap bargains
Retailers around the country hoped to entice customers with deep discounts and earlier than usual sales this Black Friday, the traditional kick off of holiday shopping. With long lines at big box stores like Best Buy in the Boston area and around the country, it appears that the strategy may pay off. Nikon to use collaborative design platform with Bay State connection
Nikon Corp., a Japanese company known for cameras and optical products, plans to use a collaborative design called Enovia, which has a Massachusetts connection. Enovia was developed by Dassault Systèmes, a French company focused on software products for global product lifecycle management. Dassault Systèmes has considerable operations in the Bay State, and its Massachusetts team did much of the work on Enovia, which will help Nikon reduce the number of mockup models that need to be built in the course of developing its products. Yankee Group report: Tablets and e-readers will be popular holiday gifts
A new report from Yankee Group concludes that tablets and e-readers will be popular gifts this holiday season despite the tough economy. Mobile devices have moved close to the top of a top 10 list of most wanted consumer-electronics items that the Boston-based research firm has put together. Last holiday season, consumers craved HDTVs and game consoles. Those items have slipped several rungs down on this year’s top 10 list. | 
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