Business briefs.COLUMN: Business briefs Telegram & Gazette Bloomberg Index Central Massachusetts Last: 118.96 Change: -1.70 Volume: 53,547,197 Up: 5 Down: 15 Unchanged: 9 Gainer: Sepracor Inc. $15.87 +$2.24 (volume of 13.2 million shares) Decliner: The Hanover Insurance Hanover Insurance (formerly NASDAQ: HINS) based in Worcester, Massachusetts is one of the oldest continuous businesses in the United States, still operating within its original industry. Group Inc. $41.07 -$2.18 (volume of 607,907 shares) Local UMass income BOSTON - The University of Massachusetts The system includes UMass Amherst, UMass Boston, UMass Dartmouth (affiliated with Cape Cod Community College), UMass Lowell, and the UMass Medical School. It also has an online school called UMassOnline. ranked 13th among U.S. institutions in licensing income during the 2007 fiscal year, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. measurements from the Association of University Technology Managers The Association of University Technology Managers (AUTM) is an organization devoted to promoting technology transfer between universities and colleges and private enterprise and/or the government. annual survey. UMass reported yesterday that the university took in $40.7 million in income from technology licensing and spin-off companies during 2007. "Consistent with what you would see at other major research universities with academic medical centers, approximately 90 percent (of the) university's licensing income is derived from life sciences-related discoveries at UMass Medical School," Robert P. Connolly, spokesman for UMass President Jack M. Wilson, said in a statement. At the top of the AUTM AUTM Association of University Technology Managers AUTM Authorised Unusable Time (Loran-C System) rankings was New York University New York University, mainly in New York City; coeducational; chartered 1831, opened 1832 as the Univ. of the City of New York, renamed 1896. It comprises 13 schools and colleges, maintaining 4 main centers (including the Medical Center) in the city, as well as the , with $791.2 million in licensing income, UMass reported. Astra net income LONDON - Pharmaceuticals company AstraZeneca PLC yesterday reported a small drop in fourth-quarter net income and said it would cut an additional 6,000 jobs globally by 2013 as it looks to shore up its earnings. Net income dipped to $1.25 billion in the October-December quarter from $1.27 billion in the same quarter a year earlier, affected by lower than expected sales and currency shifts. In total, 15,000 jobs will be eliminated over five years. The company, which employs 67,000 worldwide, did not specify where the job losses would be. AstraZeneca has operations in Westboro. (Associated Press Associated Press: see news agency. Associated Press (AP) Cooperative news agency, the oldest and largest in the U.S. and long the largest in the world. ) Siemens saving MUNICH, Germany - Engineering company Siemens AG Siemens AG German electrical-equipment manufacturer. The first Siemens company, Siemens & Halske, was founded in Berlin in 1847 to build telegraph installations. plans to phase out the use of management consultants during the current quarter as part of its drive to reduce costs. Using internal resources instead of McKinsey & Co. Inc. and other consultants will generate savings in the "mid-triple-digit millions" of euros, Manager Magazine reported, citing a letter by Chief Executive Officer Peter Loescher to senior management. Siemens AG is the parent company of Morgan Construction of Worcester. (Bloomberg News) Losses widen NATICK - Medical device maker Boston Scientific says its loss widened in the fourth quarter on write downs from its 3-year-old acquisition of rival Guidant. The company reports a net loss of $2.43 billion, or $1.62 per share, compared with a loss of $458 million, or 31 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , for the last quarter of 2007. The loss reflects a noncash $2.7 billion impairment charge related to Boston Scientific's 2006 acquisition of heart implant maker Guidant. Boston Scientific says sales edged up 2 percent to $2 billion. Boston Scientific has operations in Marlboro. (Associated Press) More briefs on next page |
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