Thursday, April 7, 2011

Daily Business Update from the Boston Globe

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Thursday, April 7, 2011

State faces 'disappointingly slow' recovery
Massachusetts faces a "disappointingly slow" economic recovery, a prediction that economists from several local universities and the Federal Reserve Bank of Boston called the "best case scenario."

Sales fall at TJX
Associated Press Discount-store operator The TJX Cos. said Thursday that a key revenue figure fell 1 percent for March, but that was a smaller drop than Wall Street expected. Analysts on average expected the chain's revenue in stores open at...

Utility needs accounting overhaul after 'inappropiate expenses'
National Grid's accounting system needs an overhaul, according to a five-month review instigated, at least in part, after state Attorney General Martha Coakley uncovered what she called "inappropriate expenses" the utility intended to bill to its customers.

Wednesday, April 6, 2011

State Street CEO gets $4 million bonus
State Street Corp. Chief Executive Joseph L. Hooley received $12.9 million in total compensation last year, a 7 percent drop from the year before, the financial services company reported today.

Raytheon wins $177m air traffic system contract
Raytheon Co. has won a $177 million contract modification by the Federal Aviation Administration to keep supplying an automated air traffic system, under the agency's terminal automation modernization and replacement program.

Google donates $1 million to Museum of Science
Internet search and advertising giant Google Inc. is writing a $1 million check to Boston's Museum of Science, one of a series of grants totalling $12 million to seven science museums in the US and the UK.

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