Thursday, July 14, 2011

Daily Business Update from the Boston Globe

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Thu. Jul. 14, 2011

Health care industry workers protest potential federal spending cuts
Sstate health care workers and executives gathered on Beacon Hill today to protest anticipated federal funding cuts

Nuance buys Webmedx
Nuance Communications Inc., a Burlington company known for such speech recognition products as Dragon Naturally Speaking, said it has bought Webmedx, an Atlanta company specializing in medical transcription services.

Walgreens to pay $2.8m to resolve allegations of overcharging
Walgreen Co., a chain of more than 7,700 pharmacies, has agreed to pay $2.8 million to the state and to 75 Massachusetts cities and towns to resolve allegations that it overcharged public entities for prescription drugs, the office of Massachusetts Attorney General Martha Coakley said today.

EMD Serono has a permanent president
EMD Serono Inc., a biopharmaceutical company with operations in Rockland, said that interim president James Hoyes has been permanently appointed to that post.

Five more years of Matty on Kiss 108
Matt Siegel, host of the “Matty in the Morning” radio show on Kiss 108 FM, has signed a five year extension to his contract, Kiss 108 FM owner Clear Channel Radio said today.

Verastem raises $32 million
Verastem Inc., a Cambridge start-up seeking to develop treatments against cancer stem cells, said today that it has raised $32 million through a Series B financing.

TFMS moves to Post Office Square
Trust & Fiduciary Management Services Inc., or TFMS, said it has just relocated to larger offices in Boston’s Post Office Square. The firm, which provides portfolio management services, now occupies about 2,500 square feet of space at 50 Federal St.

Pay for that Cumberland Farms Chill Zone drink with your iPhone or BlackBerry
Cumberland Farms, the Framingham-based chain of convenience stores and gas stations, said it is launching a new mobile cash card that lets users pay for items by scanning their smartphones at the register.

Fidelity star manager to take short break
Joel Tillinghas, manager of the Low Priced Stock fund since 1989, is taking a four-month leave to travel, write and mentor.

General Mills CEO: ‘Consumers are being more cautious’
Executives from General Mills Inc. descended upon Boston today as part of an annual meeting with investors. Chief executive Ken Powell was among a group of executives from the Minneapolis food industry giant to provide investors with a 2011 performance review.

Frances Rivera to leave Channel 7 anchor team
WHDH-TV (Channel 7) main anchor Frances Rivera is leaving the NBC affiliate after 10 years to take a broadcasting job in New York City, the country’s largest TV market.

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