Boston Scientific strikes deal with Bovie Medical

Bovie Medical Corp. disclosed an agreement with Natick medical device maker Boston Scientific Corp. to acquire technology and assets for a radio frequency resection device. No financial details were given. The agreement with the Melville, N.Y., company covers Boston Scientific technology, patents, and assets related to the use of conductive sintered steel as an electrode for RF cutting and coagulation. (Chris Reidy)

General Motors Corp. said it has taken an ownership stake in Boston-based Mascoma Corp., a renewable energy company that is working to develop ethanol from wood chips, waste paper sludge, and switch grass. It is the automaker's second partnership this year with a start-up that is attempting to create an alternative fuel from something other than corn. The extent of GM's ownership stake in the companies has not been disclosed. (AP)

Autodesk Inc., the biggest maker of design software used in engineering, plans to acquire Moldflow Corp. for about $297 million to broaden the company's digital prototyping operations in plastic-parts markets. Autodesk will offer $22 each for all outstanding shares of Moldflow common stock, Autodesk said. Framingham-based Moldflow closed down 15 cents to $19.61 in Nasdaq Stock Market composite trading before the announcement. (Bloomberg)

Two investment units of Bank of America agreed to pay about $10 million to settle conflict-of-interest charges. The Securities and Exchange Commission had alleged that from 2002 to 2004, Banc of America Investment Services Inc. and a business that's now part of the Columbia funds unit steered clients into funds affiliated with the bank - without following proper selection criteria and failing to disclose the scope of its conflict of interest. Federal rules require money managers to recommend investments based on clients' best interests. A spokeswoman said the bank neither admits to nor denies wrongdoing, but policies and procedures are in place to prevent further such problems. (Ross Kerber)

The number of women accusing the financial data and news service company founded by New York Mayor Michael Bloomberg of discrimination has risen from three to 58, with more likely to be added, a lawyer told a judge. The disclosure widens the scope of a lawsuit against Bloomberg LP that became a distraction for the mayor during his second term. He is not a defendant in the Equal Employment Opportunity Commission lawsuit claiming discrimination against women who take maternity leave. Bloomberg resigned as chief executive of Bloomberg LP to run for mayor in 2001. He retains a 68 percent stake in the company. The EEOC said the New York-based company with 9,000 employees engaged in a pattern of demoting women, diminishing their duties, and excluding them from job opportunities after they disclosed they were pregnant. (AP)

Starbucks Corp., the coffee-shop chain that doubled its US stores in four years, will slow expansion after second-quarter earnings tumbled 28 percent and customer visits declined. Starbucks plans to pare US store openings through September by 155 cafes to 1,020. It will add 400 locations in each of the following three years, the Seattle-based company said. The world's largest coffee-shop chain will turn instead to Canada, the United Kingdom, China, and Japan to boost sales. Starbucks said it still plans to open 975 stores outside the United States through September. US locations made up 11,434 of the company's 16,226 stores as of March 30. (Bloomberg)

Sun Microsystems Inc., the fourth-largest maker of server computers, reported an unexpected third-quarter loss and revealed plans to cut as many as 2,500 employees after sales slumped. The net loss was $34 million, or 4 cents a share, compared with a profit of $67 million, or 7 cents, in the yhear-ago period. A $52 million tax expense contributed to the loss. Sales were little changed at $3.27 billion in the period ended March 30, missing the $3.38 billion average estimate by analysts. (Bloomberg)