Monday, August 10, 2009

Daily Business Update from the Boston Globe

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Monday, August 10, 2009

Molecular Insight 2Q loss narrows on costs
Associated Press Biotechnology company Molecular Insight Pharmaceuticals Inc. said in a press release that its second-quarter loss narrowed on lower drug development and operational costs. Cambridge-based Molecular Insight lost $16.6 million, or 66 cents per share, compared with a loss...

Division of Banks issues order against Taylor Bean
By Chris Reidy, Globe Staff The Massachusetts Division of Banks said it has issued a cease-and-desist order against Taylor, Bean & Whitaker Mortgage Corp., a Florida-based firm that is a nationwide wholesale lender. "The division?s order requires the company to...

State Street says legal exposure may be larger
By Todd Wallack, Globe Staff State Street Corp. today disclosed it has already burned through more than two-thirds of a $625 million reserve created to handle legal claims related to losses clients suffered during the subprime mortgage crisis. And the...

Blue Fang unveils iPhone game
By Chris Reidy, Globe Staff Blue Fang Games, a Waltham-based game developer, announced the launch of its first iPhone game titled "Lion Pride.? "'Lion Pride' is an addictive, fast-paced game in which the player controls lions as they stalk their...

Sun Life announces Cirque du Soleil sponsorship
(File photo of a Cirque du Soleil performance: Chitose Suzuki/AP) By Chris Reidy, Globe Staff The US division of Sun Life Financial Inc., which is based in Wellesley, announced a partnership with Cirque du Soleil, an artistic entertainment organization....

Publicis to buy Microsoft's Razorfish for $530m
Associated Press French advertising company Publicis Groupe SA has agreed to buy Microsoft Corp.'s digital advertising firm Razorfish in a move to boost its share of advertising on the Web, according to a joint statement released Sunday. (Roughly a decade...

Rose is appointed chairman of Beacon Power
By Chris Reidy, Globe Staff Beacon Power Corp., a Tyngsborough company that designs and develops products and services to support more stable and efficient electricity grid operation, said that its board of directors appointed Virgil Rose to the newly created...

Navy contract goes to iRobot
By Chris Reidy, Globe Staff Bedford's iRobot Corp. said it has been awarded a $13.5 million contract from the Naval Sea Systems Command. Under the terms of what is described as an "Indefinite-Delivery/Indefinite-Quantity" contract, any service can order up to...

Sepracor seeks Canadian OK for epilepsy drug
By Chris Reidy, Globe Staff Sepracor Inc., a Marlborough drug company perhaps best known for its Lunesta sleep aid, said that it is asking Canadian regulators to approve one of its drugs for distribution in that country. In a press...

Millipore makes a European acquisition
By Chris Reidy, Globe Staff Millipore Corp. said that it has acquired BioAnaLab, a European-based services provider that specializes in the analysis of biologic drugs and vaccines. "The transaction enables Millipore to expand its biopharmaceutical services business into Europe and...

Online jewelry auction leverages Akamai
By Chris Reidy, Globe Staff Akamai Technologies Inc. said in a press release that that Bidz.com, an online auctioneer of jewelry based in California, is "leveraging Akamai to accelerate site performance, optimize site response times, and deliver video content on...

Today in Globe Business
Stalled project has Hynes on the hot seat Every time he steps out of his door, John B. Hynes III knows someone will ask him about the massive hole he opened up in downtown Boston. Hynes is the man behind...

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