Co-founder Kashyap remains amidst probes, allegations

CHICAGO — This summer Vikram Kashyap was sitting pretty. Canopy Financial Inc., the health-financial services company he co-founded, was on the heels of raising $75 million, it had grown to over 120 employees and the awards were starting to roll in. Now, Canopy Financial faces Securities and Exchange Commission fraud charges, a Federal Bureau of Investigation probe and reports that the company falsified financial statements to lure in investors.

From tech startups to U.S.-India deals connection runs deep

SAN FRANCISCO — A new report by the Bay Area Council Economic Institute, "Global Reach," documents the connections between the economy of the San Francisco Bay Area and India-Americans, as well as India.

Fit In Clouds offers high-heeled swap with slip-on shoe line

WALTHAM, Mass. — Amrita Dhamoon, chief executive officer of Fit In Clouds, a home-based business in Waltham, says being fashion-conscious doesn't have to mean suffering from the pain associated with many of the trendiest styles.

MediaMerx founder leaves ESPN for online video venture

NEW YORK — MediaMerx Chief Executive Officer Tejpaul Bhatia was lucky enough in his professional career to have a dream job that he could see himself being in for years at sports media giant ESPN — but then he left it.

SILICON VALLEY, Calif. — Agnity Inc., a provider of products to Internet service providers, has signed a deal with Fonet Global, a provider of Internet telephony services, to help the company launch a new line of long distances services.

Bangalore facility will be second for India market

INDIANAPOLIS — In a move targeted at meeting the increasing demand for beverage bottle caps in India, Closure Systems International has gone public with plans to open a plastic closure plant near Bangalore in southern India.

STAMFORD, Conn. — Pitney Bowes Inc. has appointed Kilburn Office Automation as its official distribution partner in India, supplementing the efforts of its direct sales company, Pitney Bowes India.

Novavax encouraged by results for vaccine testing

ROCKVILLE, Md. — Novavax Inc. has reported strong results from the first stage of a two-stage study evaluating the safety and effectiveness of the company's 2009 H1N1 virus-like particle, pandemic influenza vaccine.

Strategy one of several in quest to draw business

BOSTON — The hotel industry worldwide is slumping due to the stress of recession, resulting in some fundamental shifts in the way it does business.

ATLANTA — Harsha Agadi has stepped down as chief executive officer of Church's Chicken after five years at the helm of the franchise chain. He will remain as an active member of the company's board of directors.

For those who might argue that the venture capital industry is looking dire, Promod Haque and Norwest Venture Partners had a sharp response last November. The Silicon Valley firm and its investment guru leader raised a new $1.2 billion fund.