Fidelity Investments sent a letter to federal regulators Thursday, the latest missive in its concerted effort to ward off new regulations of money market mutual funds. A love note it was not. Boston-based Fidelity, the nation’s largest manager of money market funds, said its message to the Financial Stability Oversight Council was simple: “Take no further action” on money market funds at this time. Fidelity said the Securities and Exchange Commission should be the regulator to decide on the matter. Algeco Scotsman said it has agreed to buy Target Logistics Management LLC in a deal that could be worth up to $625 million. Boston-based Target Logistics is a provider of remote workforce accommodations for the US oil and gas industry as well as to related industry sectors. Headquartered in Baltimore, Algeco Scotsman provides modular space and secure portable storage solutions, managing a fleet of more than 310,000 units with operations in 37 countries. State convention officials selected a developer on Thursday to build two mid-priced hotels across from the Boston Convention & Exhibition Center, jump starting a broader $2 billion expansion of the South Boston complex in coming years. The $11 billion merger agreement formally announced Thursday morning between American Airlines and US Airways is not expected to have a major impact at Logan International Airport, where the two airlines don’t overlap on any nonstop routes. Both carriers fly from Boston to New York, but into different airports. American, the dominant carrier at Logan from 2001 to 2009, is now the fifth largest carrier at Logan. US Airways is Logan’s third biggest airline. A combination of the two would make it nearly the size of JetBlue Airways, Logan’s largest carrier. Whole Foods Market Inc. said it plans to open a 43,000-square-foot store in Westford, most likely in 2016. The store will be located at 160 Littleton Road, in the Westford Valley Marketplace and it will employ about 200 people. Whole Foods operates about 350 stores nationwide, including 21 in Massachusetts. Gillette, the Boston-based shaving brand, has just unveiled two products designed for men with sensitive skin --- the Gillette Mach3 Sensitive razor and Gillette Fusion ProGlide Sensitive Shave Gel. A recent Gillette survey found that 54 percent of men report having sensitive skin that can be aggravated by shaving. For such men, shaving can feel like getting a mug full of barbed wire, a new ad suggests. But use the Mach3 Sensitive, along with the new gel, and a man is in for a kinder, gentler shave, the ad campaign says. BOSTON — Employee 401(k) accounts are growing fast, thanks to the surging stock market and increased contributions from workers and their employers. The average account balance grew nearly 12 percent last year, Fidelity Investments said on Thursday. The average was $77,300 at the end of 2012, up from $69,100 a year earlier, according to Fidelity, the nation’s largest 401(k) administrator. The average balance is up sharply since the stock market hit bottom in early 2009, following the financial crisis. Back then, the average was $46,200. | 
| |
No comments:
Post a Comment