Tuesday, October 20, 2009

Daily Business Update from the Boston Globe

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Tuesday, October 20, 2009

Genzyme starts Phase 3 trial for Gaucher pill
Genzyme Corp., the Cambridge drug maker, said it has begun begun enrollment in the first of two global Phase 3 clinical trials of Genz-112638, a potential new oral therapy for Gaucher disease. Genzyme currently markets Cerezyme, an injectable treatment for...

California sues State Street
Associated Press California Attorney General Jerry Brown accused State Street Bank and Trust Co. of "unconscionable fraud" on Tuesday, claiming in a lawsuit the firm had bilked the state's largest pension funds of more than $200 million. The suit alleges...

State Street 3Q profit up, sees weak second half
Associated Press State Street Corp. said its third-quarter profit rose but warned its business in the second half of 2009 is weaker than previously expected as it is collecting fewer transaction fees. "We expected our second half of 2009 to...

Toys"R"Us opens temporary stores for the holidays
Toys?R?Us Inc. plans to open a number of temporary stores for the holiday season, including several in Greater Boston. The New Jersey-based chain said it will operate Toys?R?Us Holiday Express stores at the Natick Collection mall, Square One Mall...

Hancock Tower owners want eateries, garage
By Casey Ross, Globe Staff The new owners of the John Hancock Tower are proposing to open three new restaurants in the Back Bay skyscraper and build a parking garage underground to help attract new tenants in this sluggish office...

Boston Scientific shares slump on dim outlook
Associated Press Shares of Boston Scientific plummeted this morning after the medical device maker forecast disappointing earnings on slower sales of its implants. The Natick company said it returned to profit in the third quarter, earning $200 million, or 13...

Citizens will open bank branch in a Dunkin’ Donuts
In a marriage that unites doughnuts and dollars, Citizens Bank said it is unveiling a first --- its first-ever bank branch inside a Dunkin' Donuts restaurant. The branch is located at 815 South Main St. in Bellingham, and it "offers...

John Hancock launches a new round of ads
John Hancock Financial Services said it has launched the latest installment in its advertising campaign titled "Cursor." "Titled 'When We,' the new television, print, and online ad features an online conversation between friends in which they recall a time when...

Want a cheap night out? Lay off drinks and dessert
A recession can drive a man to drink, but a chap looking to achieve incandescence on the cheap would be well advised to stay at home - and it's also recommended that restaurant diners on a budget give the dessert...

TJX boosts outlook
TJX Cos., the Framingham retailer that operates such chains as T.J. Maxx, Marshalls, HomeGoods, said it is raising its outlook for its third quarter and full year performance. With the recession causing many consumers to cut back on spending, shoppers...

Portsmouth, N.H., building sells for $15 million
CB Richard Ellis/New England said it has brokered the sale of a 206,000 square foot office/warehouse building in Portsmouth, N.H, for $15 million. CB Richard Ellis/New England said it represented the seller in the transaction, iStar Financial, and procured the...

AMSC gets orders from Australian wind farms
American Superconductor Corp., a Devens energy technologies company, said that two Australian wind farms under construction have ordered some of its equipment. The orders are for the company's D-VAR grid interconnection solution, which provide voltage regulation and power factor correction...

Biogen 3Q profit beats expectations
Associated Press Biogen Idec Inc. said its profit jumped 34 percent in the third quarter due to lower amortization costs and increased sales of its multiple sclerosis drug Tysabri. The Cambridge drug maker said its profit rose to $277.6 million,...

E Ink teams with Texas firm, eyes e-newspapers
E Ink Corp., a Cambridge supplier of electronic paper display technologies for such e-readers as Amazon.com's Kindle, and Freescale Semiconductor of Texas said they have agreed to jointly develop system-on-a-chip solutions that integrate Freescale's i.MX processor technology with E...

Mass. foreclosures in Sept. drop from a year ago
There were 702 Massachusetts foreclosures in September, up 6.7 percent from 658 in August and down 12.1 percent from 799 in September 2008, reported the Warren Group, a Boston firm that tracks local real estate activity. Commenting on year-to-year comparisons...

Today in Globe Business
Less to choose from Shoppers willing to pry open their wallets may find a surprise on the shelves this season: not as many brands, a diminished palette of colors, and fewer deep discounts. At Saks Fifth Avenue, the luxury retailer...

Monday, October 19, 2009

Finagle will sell its bagels in supermarkets
Finagle a Bagel, the Newton-based chain of bagel cafes, said it will offer branded Finagle a Bagel frozen bagels in the freezer section of grocery stores. Giant Food Stores and Stop & Shop are among the supermarket chains that...

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