Delta to close 1 passenger lounge in Logan's Terminal A

Delta Air Lines Inc. is closing nine of its 42 members-only airport lounges, including one at Boston's Logan International Airport. The club located between Gates 6 and 7 in Terminal A will shut down May 15, although Delta's club between Gates 17 and 18 will remain open. A Delta spokeswoman declined to reveal how much money the airline expects to save. A Logan spokesman said Continental will sublease the lounge. By the end of the month, Delta will have closed clubs in Cincinnati, Denver, Honolulu, San Juan, Kansas City, Mo., London, Phoenix, and Seattle. (Nicole C. Wong)

Dr. Ralph de la Torre, the new chief executive of Caritas Christi Health Care, appointed three key members of his management team. Joseph Maher, a lawyer and partner at Edwards Angell Palmer & Dodge, will become general counsel and head of governmental affairs. Dr. Tim Crowley, who worked with de la Torre at the Cardiovascular Institute at Beth Israel Deaconess Medical Center in Boston, will head the Caritas Christi Physician Network. Brian Carty, former president of the Boston advertising agency Hill, Holliday, will become chief marketing officer. Caritas Christi, owned by the Archdiocese of Boston, includes six regional hospitals. (Jeffrey Krasner)

Biogen Idec Inc., the world's biggest maker of multiple sclerosis drugs, urged shareholders to reject three nominees proposed by billionaire investor Carl Icahn to its board. In a letter to investors, chairman Bruce Ross and chief executive James Mullen said electing directors proposed by Icahn would "jeopardize" growth and "harm shareholder value," according to a regulatory filing. Cambridge-based Biogen plans to hold its annual meeting on June 19. (Bloomberg)

First Marblehead Corp., an arranger of securities backed by student loans, posted its second straight quarterly loss as the value of its lending packages declined. The net loss of $229.6 million, or $2.36 a share in the fiscal third quarter ended March 31, compared with a profit of $71.2 million, or 75 cents a share, a year earlier, the Boston-based company said, and exceeded analysts' estimates. First Marblehead was hurt as demand for asset-backed investments evaporated in the global credit crisis, cutting off a financing source for new loans. The company slashed 500 jobs, more than half its workforce, on May 5. It hasn't sold a package of securities since September. (Bloomberg)

Medical device maker Boston Scientific Corp. said a Canadian court dismissed a patent infringement lawsuit filed against the company by Johnson & Johnson. J&J sued Natick-based Boston Scientific, claiming its NIR stents infringed two patents. The court ruled that one J&J patent was not infringed and the other patent was invalid. J&J is also suing Boston Scientific over its Express and Taxus Express stents. (AP)

The three biggest US airlines said they have again raised ticket prices, this time by $20 per round trip, to recoup rapidly rising fuel costs. The increases by American Airlines, United Airlines, and Delta Air Lines affect the carriers' fuel surcharges, which now total $130 round trip on many flights. That means passengers on some cheap flights could be paying more in fees and taxes than for the fare itself. Delta initiated the increase, which applies to most domestic routes. It is the carrier's second hike in just over a week. The previous increase was quickly matched by competitors. (AP)

American International Group Inc., the world's largest insurer by assets, plans to raise $12.5 billion after posting its second straight record quarterly loss. AIG had a first-quarter net loss of $7.81 billion, or $3.09 a share, compared with earnings of $4.13 billion, or $1.58, a year earlier. Standard and Poor's lowered AIG's credit rating after the insurer reduced the value of contracts it sold to protect fixed-income investors by $9.11 billion and marked down other holdings by $6.09 billion. Chief executive Martin Sullivan's job may be on the line unless he stems losses from the subprime mortgage collapse and reverses a 12-month stock decline of 38 percent. AIG has already started raising capital, offering $7.5 billion in stock, debt, and equity units that obligate holders to buy shares. The insurer will issue another $5 billion in fixed-income securities, a spokesman said. (Bloomberg)