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Fri. Jul. 20, 2012 New stores are coming to Square One Mall in Saugus Square One Mall is readying for the back-to-school shopping season with a number of new stores openings, officials for the Saugus shopping complex said. Yo Passion, EbLens, and Perfumania will be opening later this summer, mall officials said, and a P.S from Aeropostale recently opened. Square One Mall is operated by Simon Property Group, which owns or has an interest in 339 retail real estate properties in North America and Asia.	Advertisement
Shares of Kayak software are up about 30 percent in first day of trading Shares of Kayak Software Corp. traded as high as $34.69 Friday morning in their first day of trading, or about 33 percent higher than the $26 that the company priced the shares on Thursday. Kayak, which has offices in Concord and Norwalk, Conn., initially filed to go public more than 15 months ago, in November 2010. But analysts said the company was being cautious since another travel firm, TripAdvisor Inc., saw disappointing results on Wall Street, while Internet giant Google Inc. is moving into the online travel business.
A123 surges on China grid-stabilization contract A123 Systems Inc., a Waltham-based maker of lithium-ion batteries for electric cars, surged the most in more than a month after winning a contract to supply a 2-megawatt system to China’s Ray Power Systems Co. to help regulate power- grid frequency. A123 shares rose 13 percent to 78 cents at 9:35 a.m in New York. The batteries will store electricity until needed to help stabilize China’s electric grid and allow for the integration of fluctuating renewable-energy resources such as wind and solar power plants.
Ikea pulls plan for Somerville store in Assembly Square Furniture giant Ikea is canceling plans to build a second Massachusetts store at Assembly Square in Somerville, punching a hole in the city’s efforts to redevelop a huge swath of former industrial property near its border with Boston.
Peter H. Smyth ranks 9th on a list of the ‘40 Most Powerful People in Radio’ Peter H. Smyth, who heads the company that operates such local stations as Magic 106.7, 105.7 WROR, and Country 102.5, ranks ninth on a new list of the “40 Most Powerful People in Radio.” The list is compiled by Radio Ink Magazine, a trade publication, and it honors those who demonstrate a high level of commitment and leadership in the industry. Smyth is chief executive of Greater Media, which oversees the operation of 22 AM and FM radio stations in Boston, Charlotte, Detroit, Philadelphia, and New Jersey.
HFF arranges financing for Waterside Place HFF, a provider of commercial real estate and capital markets services, said that it has arranged joint venture equity and construction financing for the development of Waterside Place, a 236-unit high-rise apartment building in Boston’s Seaport District. Construction financing in the amount of $72 million is being provided by a group of banks led by RBS Citizens in partnership with Eastern Bank and Blue Hills Bank. Waterside Place, a $120 million project, is being developed by the Drew Company and an institutional client advised by J.P. Morgan Asset Management.
Fidelity Investments loses a state cash account The state treasurer’s office said it has awarded its $9.5 billion cash contract to Federated Investors Inc, moving the business away from Boston’s Fidelity Investments, which has had the business for 35 years. Treasurer Steven Grossman said the state would save $8.2 million over three years, or 34 percent of the current cost, by moving the Massachusetts Municipal Depository Trust contract to Pittsburgh-based Federated.
A123 will supply additional batteries for BAE Systems’ city bus program A123 Systems, a Waltham company that makes lithium ion phosphate batteries, announced an agreement Thursday with BAE Systems to supply the company with additional battery packs for a propulsion system designed for city bus systems around the world. A123 has been supplying BAE with battery packs for about five years. Currently, about 3,000 buses using BAE’s propulsion system are in operation in various cities around the world. The new agreement calls for A123 to provide BAE with additional battery packs.
Harvest Power raises an additional $15m in Series C financing Harvest Power announced Thursday a $15 million extension to its Series C financing round. The Waltham company focuses on harnessing the maximum value from organic materials through the production of renewable energy and soils, mulches, and natural fertilizers. Piper Jaffray led the extension with Tur Partners and Industry Ventures also participating.
Mass. unemployment rate remains at 6 percent, but state loses jobs for first time in 7 months The Massachusetts economy posted its first job losses in seven months as the state’s unemployment rate held steady at 6 percent in June, the Massachusetts Executive Office of Labor and Workforce Development reported Thursday morning. Preliminary estimates showed that Massachusetts lost 2,600 jobs in June, the first monthly job loss since November. The current national unemployment rate is 8.2 percent.
Harvard’s Joint Center of Housing Studies: Remodeling activity poised for growth Home remodeling activity is in a position to see accelerated growth by the end of this year and into 2013, according to a forecast issued Thursday by the Joint Center for Housing Studies of Harvard University. “Warm weather in the first quarter temporarily bumped up remodeling activity in many areas,” Eric S. Belsky, the center’s managing director, said in a statement. “By the end of the year, however, positive market fundamentals are expected to kick in, moving the industry out of this ebb and flow period and into a new growth phase.”
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