Tuesday, August 25, 2009

Daily Business Update from the Boston Globe

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Tuesday, August 25, 2009

Mullen is the Bruins' ad agency of record
(File photo of Zdeno Chara of the Bruins. By Barry Chin/Globe Staff) By Chris Reidy, Globe Staff Mullen, the Boston ad agency, said that it has been named the advertising agency of record for the Boston Bruins hockey team....

Global investor confidence index rises
By Chris Reidy, Globe Staff Global Investor Confidence rose by 3.5 points to 122.9 in August from July?s level of 119.4, according to an index compiled by State Street Global Markets, the investment research and trading arm of State...

Gloucester Pharmaceuticals raises $29 million
By Chris Reidy, Globe Staff Gloucester Pharmaceuticals, a Cambridge company that acquires clinical-stage oncology drug candidates and advances them through regulatory approval and commercialization, announced that it has raised $29 million in a Series D financing. "The proceeds will be...

Casual Male 2Q profit nearly doubles
Associated Press CANTON -- Casual Male Retail Group Inc. said its fiscal second-quarter profit nearly doubled as significant cost cuts offset a drop in sales. For the quarter ended Aug. 1, Casual Male earned $3.6 million, or 9 cents per...

Monster.com: Workers need to save more
By Chris Reidy, Globe Staff Slightly more than a third of US workers have only one week or less of savings to cover living expenses if they were to be laid off from their jobs, a new survey from Monster.com...

Zoll Medical says FDA approved LifeVest model
Associated Press Zoll Medical Corp. of Chelmsford said in a press release that it has received Food and Drug Administration marketing approval for a new model of its LifeVest wearable defibrillator. The LifeVest is worn by patients at risk for...

Staples 2Q profit falls 39 percent on charge
(File photo: JB Reed/Bloomberg News) Associated Press Framingham-based Staples Inc. said that its fiscal second-quarter profit dropped 39 percent on a hefty charge, but adjusted results met analysts' estimates. The world's biggest office supply retailer said in a press...

Mass. housing market shows signs of perking up
(As this graphic suggests, the local housing market could be on the mend.) By Chris Reidy, Globe Staff The number of Massachusetts homes sold last month jumped nearly 12 percent from July 2008, and the decline in prices moderated,...

Today in Globe Business
End of the road for Biopure Biopure Corp., the Cambridge company that was working to develop a human blood substitute, has officially expired. Last month, the struggling biotech filed for Chapter 11 bankruptcy protection, and yesterday it said an auction...

Monday, August 24, 2009

Cohmad files motion to dismiss fraud charges
By Beth Healy, Globe Staff Cohmad Securities Corp. and its two principals filed a motion to dismiss fraud charges brought against them by federal regulators in the Bernard Madoff affair, arguing that they had no knowledge of the Ponzi scheme...

Biopure completes sale of assets
By D.C. Denison, Globe Staff Biopure Corp., the Cambridge firm that was working on developing a human blood substitute, has concluded the previously announced auction of substantially all of its assets in connection with its bankruptcy. OPK Biotech LLC, a...

US payment-card industry grapples with security
Reuters Fresh details of large-scale cyber attacks against data processor Heartland Payment Systems Inc. and supermarket chain Hannaford Brothers show the challenges facing the efforts of the US credit-card industry to upgrade security measures. While both companies say their computer...

Mass. seeking $100m for high-speed Internet access
Associated Press Massachusetts is seeking $100 million in federal stimulus dollars to expand high-speed Internet access in the western part of the state. Lieutnenant Governor Timothy Murray said Monday the administration hopes the money will supplement $20 million in state...

Chico's taps ATG
By Chris Reidy, Globe Staff Art Technology Group Inc., a Cambridge company that provides support to retailers with online stores, said that it will help Chico's FAS Inc. enhance its "online customer experience." Chico's flagship brand is a line of...

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