Tuesday, March 2, 2010

Daily Business Update from the Boston Globe

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Tuesday, March 2, 2010

Jones Lang LaSalle wins BU construction job
Jones Lang LaSalle said it was awarded the contract to provide construction management services for research centers on Boston University?s medical campus.

Shaw's Supermarkets features new pet food line
Shaw's Supermarkets Inc., which includes Star Market stores, is gearing up to unveil a new line of pet food called WholeCare Pet.

Local firms make best corporate citizens list
Corporate Responsibility Magazine issued its annual list of "100 Best Corporate Citizens," and several local companies including EMC Corp., Staples Inc., Raytheon Co., State Street Corp., and TJX Cos., made the list.

Rasky Baerlein expands gov't relations capabilities
Rasky Baerlein Strategic Communications, a public relations and public affairs firm with offices in Boston and Washington, said it has expanded its federal and international relations practices with three hires.

MassHousing OK's $150k for sober housing complex
MassHousing, the state's affordable housing banking, said it has approved $150,000 in funding to help create 11 new units of affordable sober housing for women with children in New Bedford.

FDA approves Exalgo extended-release tablets
CombinatoRx Inc. said that the Food and Drug Administration has approved the New Drug Application for Exalgo extended-release tablets for the management of moderate to severe pain in some opioid tolerant patients.

Chamber proposes business tax breaks
The Greater Boston Chamber of Commerce today proposed tens of millions of dollars in business tax breaks that it says will revive the Massachusetts economy by encouraging investment, innovation, and hiring.

Local business confidence fell in February
A Massachusetts business confidence index fell in February after seven straight months of increases, said the Associated Industries of Massachusetts, a group of large state employers that developed the index.

Bain Capital agrees to buy Dow unit for $1.63b
The Dow Chemical Company and Bain Capital Partners said that Bain Capital affiliate has agreed to buy Dow?s Styron division for $1.63 billion.

ArQule 4Q loss grows slightly, but revenue rises
Biotechnology company ArQule Inc. said its fourth-quarter loss grew slightly, as an increase in research and development expenses was partially balanced by a boost in partnership payments.

Stop & Shop contract talks resume
Contract talks are resuming between Stop & Shop officials and union leaders representing about 40,000 supermarket workers in Massachusetts, Connecticut, and Rhode Island who have agreed to strike if a deal isn't reached.

Foreclosure petitions drop in January
The number of foreclosures started by lenders in Massachusetts during January dropped to the lowest level in more than a year, said the Warren Group, a Boston firm that tracks real estate data and publishes Banker & Tradesman.

New group opposes film tax credit cap
Several businesses are joining forces to form a coalition that advocates opposing Governor Deval L. Patrick's proposal to cap the state's film tax credit at $50 million a year, down from about $125 million, as a way to reduce the Massachusetts budget gap.

Synta will resume studies of skin cancer drug
Synta Pharmaceuticals Corp. said it will restart development of its skin cancer drug candidate elesclomol. Synta said it expects to start at least one new clinical trial in the second half of 2010.

Staples 4Q profit falls; issues muted outlook
Staples Inc., the Framingham-based retailer of office supplies, said fourth-quarter sales increased 4 percent to $6.4 billion. Net income fell 18 percent.

Today in Globe Business
A sample of stories that appeared in the Business Section of today's print edition of The Boston Globe.

Monday, March 1, 2010

Madoff whistleblower promises new fraud cases
By Todd Wallack, Globe Staff Harry Markopolos, the Bay State whistleblower who repeatedly and unsuccessfully warned the Securities and Exchange Commission about Bernard Madoff?s massive Ponzi scheme, says he and his investigative team have uncovered a raft of new multi-billion-dollar...

Court rules against Boston philanthropist in Madoff case
A federal judge's decision today in the Bernard Madoff bankruptcy case could mean Carl Shapiro, the Boston philanthropist who allegedly reaped $1 billion in profits from the swindler, is a step closer to having to return a portion of that money.

Becker College ranks high in game design survey
Becker College said it was ranked fourth nationally and tops in New England on a list of the nation's best computer-game design schools.

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