http://www.boston.com/business/globe Boston.com features New England business and economic news straight from the pages of the Boston Globe. en-us 2007-12-04T14:24:09Z http://www.boston.com/ http://cache.boston.com/bonzai-fba/File-Based_Image_Resource/bcom_logo_140w.gif http://www.boston.com/business/globe/articles/2007/11/15/icahn_buys_into_genzyme?rss_id=Boston+Globe+--+Business+News Carl Icahn, the billionaire investor who recently helped put Biogen Idec Inc. in play, has taken a stake in another major Cambridge biotech - Genzyme Corp. Todd Wallack, Globe Staff 2007-11-15T05:00:00Z http://www.boston.com/business/markets/articles/2007/11/15/on_guard_at_gatehouse?rss_id=Boston+Globe+--+Business+News A financial update: The newspaper business still stinks. That's not news to anyone who follows the public stocks of big newspaper companies, including this paper's corporate parent, The New York Times Co. Now one company that has spent most of the past year swimming against that powerful tide finds itself losing favor, too. Steven Syre, Globe Columnist 2007-11-15T05:00:00Z http://www.boston.com/business/globe/articles/2007/11/15/states_first_new_insurer_is_an_old_one?rss_id=Boston+Globe+--+Business+News Peerless Insurance, which led a wave of insurers fleeing the state's heavily regulated market in the 1980s, said yesterday it plans to be the first new insurer to enter Massachusetts as the state introduces auto insurance competition on April 1. Carolyn Y. Johnson, Globe Staff 2007-11-15T05:00:00Z http://www.boston.com/business/personalfinance/articles/2007/11/15/green_mortgages_taking_root?rss_id=Boston+Globe+--+Business+News First came green homes. Now comes a mortgage to match. So-called green mortgages are the latest innovation in the push to promote more energy-efficient houses, whose owners enjoy lower utility costs thanks to solar panels, improved insulation, thermopane windows, and other money-saving products. Also called energy-efficient mortgages, they allow home buyers to qualify for larger loans on the premise that ... Sacha Pfeiffer, Globe Staff 2007-11-15T05:00:00Z http://www.boston.com/business/technology/articles/2007/11/15/raytheon_wins_135b_contract_for_uk_security?rss_id=Boston+Globe+--+Business+News Extending its homeland security business overseas, Waltham defense giant Raytheon Co. yesterday signed a deal worth $1.35 billion over the next 10 years to help the United Kingdom control its borders. Robert Weisman, Globe Staff 2007-11-15T05:00:00Z http://www.boston.com/business/globe/articles/2007/12/04/musicians_can_sell_their_songs_on_myspace?rss_id=Boston+Globe+--+Business+News MySpace, the social networking site where people create home pages and embellish them as they would a dormitory room, plans today to start selling songs and trying to position itself as a destination for hearing and buying new music. Brian Stelter, New York Times News Service 2007-12-04T05:00:00Z http://www.boston.com/business/globe/articles/2007/12/04/mintz_levin_adds_subprime_group?rss_id=Boston+Globe+--+Business+News Capitalizing on the subprime lending crisis that has ensnared many companies and financial institutions, Mintz, Levin, Cohn, Ferris, Glovsky, and Popeo has joined a growing number of law firms that have launched legal practices specializing in subprime mortgage woes. Sacha Pfeiffer, Globe Staff 2007-12-04T05:00:00Z http://www.boston.com/business/globe/articles/2007/12/04/same_sex_marriage_is_law_clinics_focus?rss_id=Boston+Globe+--+Business+News To address the unique legal dilemmas raised in part by the state's legalization of same-sex marriage in 2003, Harvard Law School has opened a legal clinic that will represent low-income clients. Sacha Pfeiffer, Globe Staff 2007-12-04T05:00:00Z http://www.boston.com/business/globe/articles/2007/12/04/att_plans_to_exit_pay_phone_line_as_cellphones_proliferate?rss_id=Boston+Globe+--+Business+News DALLAS - AT&T Inc., the biggest US phone company, plans to leave the pay-phone business after 129 years as more people use wireless handsets to make calls on the go. Bloomberg News 2007-12-04T05:00:00Z http://www.boston.com/business/globe/articles/2007/12/04/6_month_t_bill_rates_hit_lowest_in_2_12_years?rss_id=Boston+Globe+--+Business+News WASHINGTON - Interest rates on short-term Treasury bills fell in auction yesterday with rates on six-month bills falling to the lowest level in 2 1/2 years. Associated Press 2007-12-04T05:00:00Z http://www.boston.com/business/globe/articles/2007/12/04/congress_to_look_at_credit_card_rate_hikes?rss_id=Boston+Globe+--+Business+News WASHINGTON - Credit card industry practices are being denounced by some in Congress, especially raising interest rates on those whose credit ratings decline, even if they pay card bills on time. Associated Press 2007-12-04T05:00:00Z http://www.boston.com/business/globe/articles/2007/12/04/houghton_sells_college_text_line_in_750m_deal?rss_id=Boston+Globe+--+Business+News Houghton Mifflin Co. is selling its college textbook unit to Cengage Learning for $750 million so it can focus on its publishing business geared to kindergarten through 12th grade, as well as trade and reference publications. Associated Press 2007-12-04T05:00:00Z http://www.boston.com/business/globe/articles/2007/12/04/gm_sales_fall_in_november_ford_brakes_yearlong_skid?rss_id=Boston+Globe+--+Business+News DETROIT - Automakers reported mixed US sales results for November yesterday, with some new or more fuel-efficient models performing well despite consumer malaise over high gas prices and the weak economy. Associated Press 2007-12-04T05:00:00Z http://www.boston.com/business/globe/articles/2007/12/04/bruker_makes_914m_acquisition?rss_id=Boston+Globe+--+Business+News NEW YORK - Bruker BioSciences Corp. , the maker of X-ray and research equipment, will buy closely held Bruker BioSpin for $914 million in cash and stock. The disclosure drove the price of the acquiring company to the highest in more than seven months on the Nasdaq Stock Market. Bloomberg News 2007-12-04T05:00:00Z http://www.boston.com/business/globe/articles/2007/12/04/utility_consolidating_in_waltham?rss_id=Boston+Globe+--+Business+News National Grid, an international company that delivers electricity and gas to customers throughout New England, will move its regional operations center from Westborough to a new building at the Reservoir Woods office park in Waltham. Thomas C. Palmer Jr., Globe Staff 2007-12-04T05:00:00Z http://www.boston.com/business/globe/articles/2007/12/04/tjx_escapes_a_beating?rss_id=Boston+Globe+--+Business+News News item: Retailer TJX Cos. agrees to reimburse banks $40.9 million to cover costs incurred in the mother of all financial data breaches, which compromised as many as 100 million debit and credit cards. Steven Syre, Globe Columnist 2007-12-04T05:00:00Z http://www.boston.com/business/globe/articles/2007/12/04/carrier_to_allow_no_fee_ticket_changes_due_to_storm?rss_id=Boston+Globe+--+Business+News Because of the Northeast's first snowstorm of the season, JetBlue Airways passengers with reservations to or from Boston, Washington, and the New York metro area today may rebook their flights without paying change fees or buying higher-priced tickets, the airline said, as long as they travel on or before Dec. 11. Customers can check the status of flights or the ... 2007-12-04T05:00:00Z http://www.boston.com/business/globe/articles/2007/12/04/lenders_back_paulson_plan_on_mortgages?rss_id=Boston+Globe+--+Business+News WASHINGTON - Countrywide Financial Corp. and Washington Mutual chiefs endorsed Treasury Secretary Henry Paulson's effort to negotiate a loan-modification plan to help keep subprime borrowers from losing their homes to foreclosure. Bloomberg News 2007-12-04T05:00:00Z http://www.boston.com/business/globe/articles/2007/12/04/falling_prices_driving_crisis?rss_id=Boston+Globe+--+Business+News The recent spike in home foreclosures in Massachusetts is caused primarily by falling housing prices, and not by rising mortgage payments, according to research released yesterday by the Federal Reserve Bank of Boston. Binyamin Appelbaum, Globe Staff 2007-12-04T05:00:00Z http://www.boston.com/business/globe/articles/2007/12/04/insurers_plan_seeks_to_curb_rising_costs_of_healthcare?rss_id=Boston+Globe+--+Business+News A group of Massachusetts health insurers yesterday proposed a wide-ranging set of recommendations intended to help control rising premiums and provide consumers with more information about why rates go up. Jeffrey Krasner, Globe Staff 2007-12-04T05:00:00Z http://www.boston.com/business/globe/articles/2007/12/04/x_games_for_scientists_offers_10m_top_prize?rss_id=Boston+Globe+--+Business+News The slow evolution of personalized medicine is getting a nudge from a Brookline technology impresario with $10 million in prize money. Robert Weisman, Globe Staff 2007-12-04T05:00:00Z http://www.boston.com/business/globe/articles/2007/12/04/patrick_invokes_historic_link_to_china?rss_id=Boston+Globe+--+Business+News BEIJING - On his first foreign trade mission, Governor Deval L. Patrick yesterday told a Beijing audience Massachusetts and China have had a "special trade relationship" that spans more than two centuries. Patrick noted the first US merchant ship to sail for China - in 1784 - had Boston owners. Graham Webster, Globe Correspondent 2007-12-04T05:00:00Z http://www.boston.com/business/articles/2007/11/15/delta_united_deny_merger_talks?rss_id=Boston+Globe+--+Business+News Delta Air Lines Inc. is looking for a partner, but it isn't United Airlines. The third-largest US carrier said yesterday that it had had no discussions with Chicago-based United about a merger that would create the nation's largest carrier, dismissing a report that the talks had been ongoing for some time. Globe Staff And Wire Reports 2007-11-15T05:00:00Z http://www.boston.com/business/articles/2007/11/15/bernanke_moves_to_make_fed_more_open?rss_id=Boston+Globe+--+Business+News WASHINGTON - Federal Reserve chairman Ben Bernanke moved yesterday to break down even further the aura of secrecy that historically has enshrouded the institution that sets interest rates, taking steps to keep Main Street and Wall Street more closely wired to decisions that can make or break lives and businesses. Associated Press 2007-11-15T05:00:00Z http://www.boston.com/business/articles/2007/11/15/top_banks_strategies?rss_id=Boston+Globe+--+Business+News Highlights of major central banks' communication strategies: EUROPEAN CENTRAL BANK 2007-11-15T05:00:00Z http://www.boston.com/business/articles/2007/11/15/fords_hondas_top_list_of_safest_new_automobiles?rss_id=Boston+Globe+--+Business+News WASHINGTON - The number of new cars considered the safest by the insurance industry nearly tripled in the past year, helped by automakers' push to make safety equipment more widely available. Associated Press 2007-11-15T05:00:00Z http://www.boston.com/business/articles/2007/11/15/economic_growth_has_cooled_data_show?rss_id=Boston+Globe+--+Business+News WASHINGTON - Reports on retail sales and producer prices show US economic growth has cooled since its third-quarter spurt, while inflation slows. Bloomberg News 2007-11-15T05:00:00Z http://www.boston.com/business/taxes/articles/2007/11/15/irs_looking_for_taxpayers_owed_refunds?rss_id=Boston+Globe+--+Business+News The Internal Revenue Service is putting out an all-points bulletin for Massachusetts taxpayers who are collectively owed $3 million in refunds - or an average of more than $1,000 each. 2007-11-15T05:00:00Z http://www.boston.com/business/articles/2007/11/15/company_says_it_will_open_facility_in_south_boston?rss_id=Boston+Globe+--+Business+News Comcast Corp. replied this week to Boston Mayor Thomas M. Menino's complaint that the company had moved call center jobs to Waltham, in an apparent violation of its license with the city. Comcast said it plans to sign a lease in the next two weeks for a new operations center in South Boston, and would employ 200 people in technical ... 2007-11-15T05:00:00Z http://www.boston.com/business/articles/2007/11/15/uaw_ratifies_contract_with_ford?rss_id=Boston+Globe+--+Business+News DETROIT - Ford Motor Co. can no longer complain about being hamstrung by high labor costs preventing it from making money domestically. Associated Press 2007-11-15T05:00:00Z http://www.boston.com/business/articles/2007/11/15/energy_official_oil_will_drop_gasoline_will_rise?rss_id=Boston+Globe+--+Business+News WASHINGTON - Oil prices are likely to fall at least another $10 a barrel by next year, a top Energy Department official said yesterday, but he warned gasoline and heating oil prices will continue to rise in coming weeks. Associated Press 2007-11-15T05:00:00Z http://www.boston.com/business/articles/2007/11/15/fcc_news_lifts_tribune_stock_buyout_hopes?rss_id=Boston+Globe+--+Business+News NEW YORK - Tribune Co. , the US newspaper publisher being taken private, rose in New York Stock Exchange trading on optimism billionaire financier Sam Zell will get regulatory approval to complete the $8.2 billion buyout. Bloomberg News 2007-11-15T05:00:00Z http://www.boston.com/business/articles/2007/11/15/bear_stearns_trades_broke_rules_state_says?rss_id=Boston+Globe+--+Business+News Massachusetts Secretary of State William F. Galvin yesterday charged a unit of Bear Stearns Cos. with engaging in improper trading activities at two collapsed hedge funds, the first action by regulators following the funds' meltdown over the summer. Ross Kerber, Globe Staff 2007-11-15T05:00:00Z http://www.boston.com/business/articles/2007/11/15/downturn_may_leave_builders_bankrupt?rss_id=Boston+Globe+--+Business+News Home builders such as Centex Corp. and Pulte Homes Inc. aim to survive an industrywide unraveling by selling houses at bargain prices, slashing jobs, and scrapping growth plans. Associated Press 2007-11-15T05:00:00Z http://www.boston.com/business/articles/2007/11/15/ruling_could_cause_snag_as_lenders_seek_to_foreclose?rss_id=Boston+Globe+--+Business+News A federal judge in Ohio has ruled against a longstanding foreclosure practice, potentially creating an obstacle for lenders trying to reclaim properties from troubled borrowers and raising questions about the legal standing of investors in mortgage securities pools. Gretchen Morgenson, New York Times News Service 2007-11-15T05:00:00Z http://www.boston.com/business/healthcare/articles/2007/11/15/glaxos_avandia_to_get_tougher_heart_risk_label?rss_id=Boston+Globe+--+Business+News WASHINGTON - GlaxoSmithKline PLC's Avandia, the world's best-selling diabetes drug last year, will carry US regulators' strongest warning on the risk of heart attacks. Bloomberg News 2007-11-15T05:00:00Z http://www.boston.com/business/articles/2007/11/15/write_downs_by_2_big_firms_may_presage_further_woes?rss_id=Boston+Globe+--+Business+News NEW YORK - Billions in mortgage losses reported during the third quarter could be a prelude to even bigger losses in the fourth quarter, and two more financial institutions yesterday warned of substantial write-downs. Associated Press 2007-11-15T05:00:00Z http://www.boston.com/business/articles/2007/11/15/chevron_settles_iraq_oil_kickback_case_for_30m?rss_id=Boston+Globe+--+Business+News WASHINGTON - By agreeing to pay $30 million, Chevron Corp. has reached the largest of five settlements in the government's ongoing investigation of illegal kickbacks made to Iraq in connection with the United Nation's oil-for-food program. Associated Press 2007-11-15T05:00:00Z http://www.boston.com/business/articles/2007/11/15/nyses_john_thain_to_lead_ailing_merrill_lynch?rss_id=Boston+Globe+--+Business+News NEW YORK - In the game of Wall Street musical chairs, one of the biggest seats has just been taken. Associated Press 2007-11-15T05:00:00Z http://www.boston.com/business/articles/2007/11/15/lexington_firm_is_just_getting_warmed_up?rss_id=Boston+Globe+--+Business+News Like their customers, Arlex Oil Corp. executives John W. Maloney and David Eagle are wondering whether there will be any relief this heating season from escalating oil prices. Davis Bushnell, Globe Correspondent 2007-11-15T05:00:00Z http://www.boston.com/business/articles/2007/11/15/tewksbury_opening_for_mexican_eatery?rss_id=Boston+Globe+--+Business+News El Pollo Loco, a Mexican restaurant chain based in Costa Mesa, Calif., last week opened its first franchised operation in Massachusetts at 333 Main St. in Tewksbury. Franchisees are David Peterman of Andover, Mitchell Roberts of Newton, and Rich DiBella of Framingham. The chain operator has 383 restaurants, most of them in the Southwest and on the West Coast. 2007-11-15T05:00:00Z