SPORTS
Linda Pizzuti Henry acquires portion of shares of Fenway Sports Group
The Boston Herald reported on Monday that Linda Pizzuti Henry, wife of Red Sox principal owner and Globe owner John Henry, has acquired a portion of the shares in Fenway Sports Group that had been owned by limited partner Arthur Nicholas. The transaction occurred last summer. In addition to the Red Sox, Fenway Sports Group owns the Liverpool Football Club, as well as significant stakes in NESN and Roush Fenway Racing. Red Sox president Sam Kennedy described her portion of FSG as a small stake. “It’s an important moment for the Red Sox,’’ said Kennedy, adding, “she has become an absolute force in the city of Boston.’’ — JON CHESTO
PHARMACEUTICALS
FDA approves another Vertex drug for treatment of cystic fibrosis
The Food and Drug administration on Monday approved a treatment for cystic fibrosis that combines Vertex Pharmaceuticals Inc.’s Kalydeco with another medicine, Vertex said, marking the company’s third product for the life-shortening lung disorder, according to Reuters. The list price of Symdeko is $292,000 per year, but that is not the price patients pay. Vertex shares rose about 2 percent to $154.92 in extended trading after the approval was announced about two weeks ahead of an expected FDA action date. The treatment, which will be sold under the brand name Symdeko, adds the new drug tezacaftor to previously approved Kalydeco (ivacaftor) and is expected to form the backbone of eventual triple combinations that could treat up to 90 percent of patients with the disease that leads to serious lung infections and deteriorating lung function.
GUNS
Remington to seek bankruptcy protection
Remington, the gunmaker beset by falling sales and lawsuits tied to the Sandy Hook Elementary School massacre, has reached a financing deal that would allow it to continue operating as it seeks Chapter 11 bankruptcy protection. The maker of the Bushmaster AR-15-style rifle used in the Connecticut shooting, which left 20 first-graders and six educators dead in 2012, said Monday that the agreement with lenders will reduce its debt by about $700 million and add about $145 million in new capital. The company was cleared of any wrongdoing in the shooting, but investors repulsed by the massacre distanced themselves from the company’s owner, Cerberus Capital Management. Cerberus acquired the gunmaker in 2007, just as gun sales began to skyrocket. But that changed last year with the election of President Trump, and it has taken a toll on the gun industry. Gun sales spike on the election of candidates who are perceived to be more likely to pursue more stringent gun-control laws. Trump became the first sitting president to address the National Rifle Association in three decades. Firearm background checks declined faster in 2017 than in any other year since 1998, when the FBI first began compiling the data. — ASSOCIATED PRESS
GASOLINE
Prices rise 3 cents in a week
The average price of a gallon of gasoline in Massachusetts has risen 3 cents in the past week. AAA Northeast reported Monday that self-serve regular is now selling for an average of $2.56 per gallon. That price is 2 cents lower than the national average but 37 cents per gallon higher than for self-serve regular a year ago. AAA spokeswoman Mary Maguire said the rise in prices in Massachusetts is in contrast with much of the country, which is seeing stable or declining prices. The auto club found a 34-cent range in prices for self-serve regular, from a low of $2.45 to a high of $2.79 per gallon. — ASSOCIATED PRESS
TECHNOLOGY
Google to allow access to AI chips
A few years ago, Google created a new kind of computer chip to help power its giant artificial intelligence systems. These chips were designed to handle the complex processes that some believe will be a key to the future of the computer industry. On Monday, the Internet giant said it would allow other companies to buy access to those chips through its cloud-computing service. Google hopes to build a new business around the chips, called tensor processing units, or TPUs. — NEW YORK TIMES
THEME PARKS
Disney raises prices
Walt Disney Co. raised admission prices to its theme parks and said it plans to introduce fixed-date ticketing in coming months to help reduce crowding at peak times. Buoyed by new attractions like Pandora-The World of Avatar, the theme parks and resorts accounted for a third of Disney’s $55.1 billion in 2017 revenue, with domestic attendance hitting a record high. The increased demand has generated crowding and longer waits for visitors during popular times like spring breaks. Price increases that took effect Sunday varied by resort location, the number of days purchased, state residency, and other factors. — BLOOMBERG NEWS
FAST FOOD
Burger King sales rise
Burger King propped up parent Restaurant Brands International Inc. last quarter as the battle for customers escalated across the fast-food industry. Comparable sales at the burger chain, a key metric, rose 4.6 percent in the fourth quarter, Restaurant Brands said Monday. The results far surpassed analysts’ estimates, and drove the stock up the most in two years on Monday. Burger King is having success fending off larger rival McDonald’s Corp., which recently introduced a revamped Dollar Menu. Other chains, including KFC, haven’t performed as well. The fried-chicken chain on Thursday said its US same-store sales fell last quarter. The restaurants are fighting fiercely to attract diners with cheaper deals, new foods, and delivery service. — BLOOMBERG NEWS
COPY MACHINES
Icahn against plan for Xerox to be taken over by Fujifilm
Carl Icahn and Darwin Deason have come out against Xerox Corp.’s plans to cede control to Fujifilm Holding Corp. in a letter to shareholders Monday, arguing the deal “dramatically undervalues’’ the company. Icahn is Xerox’s second-largest holder, with about 9.2 percent of the company’s stock, according to data compiled by Bloomberg. Deason holds about 3.4 percent, the data show. Xerox, the once-iconic American innovator that became synonymous with office copy machines, agreed last month to cede control to Japan’s Fujifilm. — BLOOMBERG NEWS
INVESTMENT
Victims of Madoff fraud to get another $76.5m
Alpha Prime Fund Ltd. agreed to pay $76.5 million to the victims of Bernard Madoff’s Ponzi scheme, boosting the total amount recovered by the trustee unwinding the con man’s firm to more than $12.8 billion. Trustee Irving Picard announced the Alpha Prime payout on Monday. More than $10 billion has been distributed to victims of Madoff’s fraud so far. Some of his collection has been set aside pending resolution of lawsuits by victims seeking more cash than the trustee says they’re entitled to. Picard has been liquidating Manhattan-based Bernard L. Madoff Investment Securities LLC since shortly after Madoff’s arrest in December 2008. — BLOOMBERG NEWS
AUTOMOTIVE
Ford tells more Ranger owners not to drive them because of faulty air bags
Ford is telling the owners of 33,428 additional Ranger pickups in North America not to drive them because their Takata air bag inflators may present an extreme danger. The company says its investigation has found test results showing that inflators in the 2006 trucks have a higher risk of exploding and hurling shrapnel than other recalled Takata inflators. Takata uses ammonium nitrate to create a small explosion to inflate air bags. But the chemical can deteriorate and burn too fast, blowing apart metal canisters. Dealers will pick up the Rangers from owners and take them in for repairs. The additional Rangers were built between Aug. 5 and Dec. 15, 2005. Last month Ford told 2,900 Ranger owners not to drive them after finding out that a West Virginia man was killed by an exploding inflator. — ASSOCIATED PRESS
