Wednesday, July 25, 2012

Daily Business Update

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Daily Business Update


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Wed. Jul. 25, 2012

Dunkin’ Donuts plans more restaurants for Latin America

Dunkin’ Donuts, the Canton-based coffee-and-baked-goods chain, said Wednesday that it has signed agreements that should increase its presence in Latin America by 125 new restaurants over the next decade. The chain is embarked on aggressive expansion plans. It already has more than 300 restaurants in such countries as Chile, Colombia, and Peru. In the United States, the plan is to open between 260 and 280 net new restaurants during 2012.

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Mass. poll finds gaps in financial knowledge about credit reports, refunds, other topics

The overwhelming majority of Massachusetts residents believe they carefully manage their finances, but only abut half routinely check their credit reports and many lack other basic financial knowledge, according to a survey commissioned by the Office of Consumer Affairs and Business Regulation. The telephone poll of 500 state residents found that many didn’t know that they can return defective products or that state-chartered banks are required to offer free bank accounts to kids and seniors.

Cambridge’s Bluefin Labs names new CEO

Growing Cambridge technology start-up Bluefin Labs Inc. has appointed advertising industry veteran JP Maheu as its new chief executive officer, the company said Wednesday.

Netwatch USA moves to Watertown

Netwatch USA, a remote visual surveillance company, said that it has moved its office from temporary space in Medford to the Arsenal on the Charles office complex in Watertown. With nine employees now, Netwatch USA said it plans to create 50 jobs over the next 12 months. The company is the newly established US unit of Netwatch System, an Irish company specializing in intelligent video analytic technology.

SBLI chief executive Robert K. Sheridan plans to retire in November

The board of directors of the Savings Bank Life Insurance Co. of Massachusetts, which is better known as SBLI, said Wednesday that president and chief executive Robert K. Sheridan, 64, will retire in mid November and will be succeeded by Christopher Pinkerton. Pinkerton, 54, comes to SBLI from Toronto-based life insurer Foresters. Sheridan was named president and chief executive in 1992. Following his retirement, he will continue as a member of SBLI’s board of directors.

Coaxis gets $76m investment from TA Associates

Coaxis Inc., parent company of Viewpoint Construction Software, announced Wednesday that it has received a $76 million minority investment from TA Associates, a global private equity firm with offices in Boston. Viewpoint specializes in financial/accounting compliance, operational, project, and document management software for global construction companies. Coaxis/Viewpoint is based in Portland, Ore.

Bluebird bio secures $60m

Cambridge gene therapy company bluebird bio announced Wednesday the completion of a $60 million Series D financing. New investors Deerfield Partners, RA Capital, Ramius Capital Group, and two undisclosed public investment funds joined existing investors ARCH Venture Partners, Third Rock Ventures, TVM Capital, and Forbion Capital Partners in the round. In addition, Shire plc joined the round as a strategic investor. Proceeds will be used to advance the company’s clinical programs in severe genetic disorders.

George Bush addresses GBTA convention

Former President George W. Bush talked about his values, his struggles with alcohol, and his West Texas roots at the Global Business Travel Association convention on Tuesday, but he concentrated mainly on telling stories from his presidency -- and hawking his book.

PayPal to move to Financial District

Online payment company PayPal, a division of Internet auction giant eBay Inc., has signed a lease to occupy 65,000 square feet in One International Place, one of Boston’s tallest office buildings, according to The Chiofaro Company, the complex’s developer and manager.

Belmont man charged with running a Ponzi scheme

Secretary of State William F. Galvin on Tuesday charged John W. Cranney of Belmont with running a Ponzi scheme that defrauded at least 36 victims nationally of $10.4 million, by promising high returns on safe investments for retirement. The state’s Securities Division alleged in an administrative complaint that Cranney took client funds for his own use.

Bank of America plans to offer mobile deposits

Bank of America Corp., the largest bank in Massachusetts, confirmed Tuesday it plans to start letting customers deposit checks using their smart phone and tablet computers starting this week, the latest financial institution to offer mobile deposits.

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