Monday, January 14, 2013

Daily Business Update

 
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EDITORIAL EMAIL PUBLISHED BY   Boston.com
Daily Business Update Mon. Jan. 14, 2013
 
Massachusetts gas prices drop 2 cents a gallon, AAA says
The average price for gas in Massachusetts is $3.439 a gallon in the latest AAA weekly survey, down 2 cents from the previous week’s average, AAA Southern New England said Monday. The Massachusetts average price is down 11 cents over the past month, AAA Southern New England added. The current AAA national average for gas is $3.30 a gallon. A year ago at this time, the Massachusetts average price was $3.40.
Vacuum robotics specialist Persimmon Technologies raises $5.8 m
Persimmon Technologies Corp., a Wakefield company that provides vacuum robotics and hybrid-field motor technology to the semiconductor and other industries, said Monday that it has closed a $5.8 million Series B funding round. Intel Capital and The Bernard M. Gordon Charitable Remainder Trust join Nidec Sankyo as major equity holders in the company. Persimmon said that the new funding will help it expand its vacuum robotics product portfolio, invest further in the development of its hybrid-field motor technology, expand global distribution, and ramp up manufacturing operations.
MIT spin-off Arctic Sand closes $9.6m in Series A funding
Arctic Sand Technologies Inc., an MIT spin-off based in Cambridge, said Monday that it closed $9.6 million in Series A financing at the end of 2012. The company seeks to commercialize a power-conversion platform that has the potential to transform power management in electronic devices. A syndicate of financial investors, including Arsenal Venture Partners, Northwater Capital, and Ray Stata, and strategic investors, including Dialog Semiconductor and Energy Technology Ventures, awarded the funding to Arctic Sand.
Aileron Therapeutics secures $12m for clinical trial of stapled peptide drug candidate
Aileron Therapeutics Inc., a Cambridge biopharmaceutical company, said Monday that it has secured the second tranche in its Series D financing, bringing the total round to $42 million. Current investors Apple Tree Partners, Excel Venture Management, Lilly Ventures, Novartis Venture Funds, Roche Venture Fund, and SR One participated in the round. The funding will allow Aileron to advance its drug candidate, ALRN-5281, through clinical trials. The drug candidate is a proprietary agonist for treating orphan endocrine disorders.
FAA orders comprehensive review of Boeing Dreamliner
The Federal Aviation Administration has
Fidelity says it will disclose daily money market mutual fund values
Fidelity Investments said it would start disclosing the real value of its money market mutual fund shares each day, following a move by two Wall Street banks earlier in the week, as the largest players in the $2.5 trillion market try to stave off tighter regulations.
Starbucks supervisors want raise after court decision stops them from sharing in tips
Shift supervisors at local Starbucks cafes plan to deliver a petition to the coffee chain’s local headquarters demanding a pay raise following a recent court decision barring supervisors in Massachusetts from sharing in baristas’ tips, said a group that says it represents many of the supervisors. Starbucks responded that it is taking steps to ensure that supervisors will continue to be “fairly rewarded for their work.”
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