Achillion Pharma moves HQ to suburban Philly from New England; CEO says it’s easier to recruit here

Orphan-disease drug developer Achillion Pharmaceuticals, a publicly-traded company, is moving its headquarters to Blue Bell from Connecticut, CEO Joe Truitt says, not just because he's a Kensington native and a LaSalle and St. Joe's grad, but especially because "I needed to recruit."

Philadelphia sues JPMorgan, Citigroup, Goldman Sachs, others for overcharges on city borrowing

Philadelphia has sued seven of the largest Wall Street investment banks, alleging conspiracy to force the city and other local-government and nonprofit borrowers to pay “billions of dollars in inflated interest rates” on variable-rate municipal bonds in 2008-16.

Philadelphia sues JPMorgan, Citigroup, Goldman Sachs, others for overcharges on city borrowing

Philadelphia has sued seven of the largest Wall Street investment banks, alleging conspiracy to force the city and other local-government and nonprofit borrowers to pay “billions of dollars in inflated interest rates” on variable-rate municipal bonds in 2008-16.

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Mike Hagan’s Langhorne security company bought, by ADT this time, for $25 million

ADT has purchased Bucks County-based LifeShield from founder Mark Hagan's firm for $25 million, which is not much more than LifeShield raised from prominent local investors over the years. The company's previous owners include DirectTV, AT&T and Hagan's investment company, which he calls Hawk,...
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Mike Hagan’s Langhorne security company bought, by ADT this time, for $25 million

ADT has purchased Bucks County-based LifeShield from founder Mark Hagan's firm for $25 million, which is not much more than LifeShield raised from prominent local investors over the years. The company's previous owners include DirectTV, AT&T and Hagan's investment company, which he calls Hawk, after
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Bryn Mawr water utility giant out $60 million on interest-rate bet

Aqua America, the Bryn Mawr-based for-profit water utility that just bought its way into the gas supply business and has pushed to take over public water service from Chester Water Authority in 40 Philadelphia suburbs, says it lost almost $60 million betting interest rates would rise last fall.

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Vanguard doesn’t bare its finances. Should investors care?

Vanguard Group is a private company that doesn't release detailed financial statements. Some investors ask: How can we know they are solvent against the next financial crisis?

Philly area restaurant owners to pay $1 million for not paying workers tips, overtime

Owners of two Osaka Japan Restaurants, in Philadelphia and Lansdale, have agreed to pay $1 million in back wages, damages and penalties -- $935,000 to 201 workers "for willful violations" of U.S. Fair Labor Standards Act minimum wage and overtime requirements, plus a $65,000 penalty.

West Conshy’s EnerTech sells high-def U.S. map maker Ushr to Japan’s DMP, creating a powerhouse consortium focused on self-driving

In selling Ushr Inc, EnerTech, the West Conshohocken-based investment fund, is joining up two leading self-driving mapping firms in the U.S. and Japan. which will likely create the standard.

Hotel, pharma lobbyists win Philly City Council vote against drug rep law

An unusual coalition of leftist and GOP Philadelphia City Council members, hearing drug and hotel lobbyist objections, voted down a drug-rep registration bill backed by city health officials and anti-opiod activists.

W. Conshy company that manages Philadelphia convention center to merge with L.A. firm

SMG, the West Conshohocken-based company that runs the Philadelphia Convention Center, is merging with the facilities-management division of Los Angeles-based AEG, a sports and live entertainment company.

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Vanguard SEC filings drop ‘at-cost,’ ‘no profit’ claims that were dear to late founder John Bogle

Vanguard Group has scrapped its longtime claims that it is a "mutual mutual" fund company, that it doesn't have a "profit" component to the fees it charges, and that it provides services "at cost."

France’s BioMerieux buys West Philly biotech firm for $75 million

BioMérieux is taking over a 40-person West Philadelphia-based firm that sells Veriflow DNA Signature Capturing Technology, which detects spoilage for brewers and winemakers.

Ben Franklin Tech Partners pledges $5M for $50M Go Philly blockchain fund, seeks foreign capital

State-backed Ben Franklin Technology Partners of Southeastern Pennsylvania, which lends to start-ups, has pledged $5 million and raised another $5 million for the new GO Philly Fund that seeks to raise foreign capital for the kind of small Philly-area firms Ben Franklin backs.

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Venture capital pumped as much money into U.S. start-ups as during dot-com boom; Philly trails

The new PitchBook-National Association of Venture Capital report shows venture capitalists pumped a record $131 billion into U.S. start-ups and early stage companies last year, beating the previous record from the dot.com boom.

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Yoga pants: China owner prepping Del.-based Lycra Co. for IPO as latest ex-DuPont company

Lycra's new China-based owner says it will keep the global business, which supplies fabrics for yoga pants and many other products, and 90 HQ and R&D jobs, in Delaware

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Philadelphia Mayor Kenney, business leaders talk past Johnny Doc’s indictment | Joseph N. DiStefano

None of the Chamber of Commerce speakers addressed the week’s big Local 98 news — the federal indictment of John Dougherty. So I will: Who gains from Dougherty’s indictment?

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Engineers storm Hollywood: Main Line-based TE Connectivity rides the coattails of a cyborg, Alita Battle Angel

TE Connectivity will create its own videos explaining the cyborg Alita tech and link it to the Berwyn company’s products and people. It is all part of a plan to inspire engineers.

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