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FINANCE

State Street CFO to resign within a year

State Street Corp. said its chief financial officer, Michael W. Bell, will step down within the next year, after a successor is appointed. Bell, 48, is a member of the Boston financial service company’s management committee and became CFO in August 2013. According to a biography on State Street’s website, he is responsible for the company’s financial strategy, as well as treasury, accounting, tax and financial reporting, and investor relations. Carolyn Cichon, a spokeswoman for the company, in a statement said Bell staying on for a period would “enable a smooth transition.” State Street in recent years has been through a series of issues with regulators, including litigation over allegedly overcharging customers for foreign exchange services and a pay-to-play settlement related to paying consultants for pension business. And in December the company announced that it had overbilled certain customers by $200 million for administrative services over 18 years. In January, it said it would reimburse clients $240 million in that matter. — BETH HEALY

FANTASY SPORTS

DraftKings to allow players of defunct site to transfer deposits

DraftKings Inc. announced Thursday that it will spend several hundred thousand dollars to compensate patrons of a competing daily fantasy sports operator who lost their money when that company closed. FantasyHub, a small competitor of Boston-based DraftKings, ran out of capital and went dark in February, leaving some of its approximately 170,000 users unable to access deposits held by the site. But beginning Thursday night, those players could log into a special page on DraftKings’ website and transfer their balances to a DraftKings account. From there it can be withdrawn or used to play on DraftKings. — DAN ADAMS

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AUDIO

Sonos to lay off workers

Citing changes in the music industry, the head of home-audio maker Sonos announced on Thursday that the company is in the process of laying off an undisclosed number of employees as it shifts its focus toward voice control technology. John MacFarlane, Sono’s co-founder and chief executive, wrote in a blog post that the layoffs are a “short term – and very difficult – consequence” of the company’s decision to move in a different direction. It will be “doubling down” on music streaming, while “committing significant resources” toward voice controlled technology akin to Amazon Echo, “the first product to really showcase the power of voice control in the home,” he wrote. The announcement comes a month after the Santa Barbara, Calif.-based company announced it moved its Cambridge office to a new 120,000-square-foot spot in Boston. The 14-year-old company employs about 400 people in Boston, about the same number as its Santa Barbara office. — KATHELEEN CONTI

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PHARMACEUTICALS

Sarepta gets a meeting date with the FDA

Sarepta Therapeutics, Inc. will finally get to make a case for its drug to treat a form of muscular dystrophy before federal regulators. The Food and Drug Administration Wednesday said it had rescheduled to April 25 a meeting of an advisory panel that will weigh in on eteplirsen, which the Cambridge company is developing to treat children with Duchenne muscular dystrophy. A January snowstorm in Washington, D.C. had forced the cancellation of the advisory committee’s original hearing on Sarepta. FDA staffers in January questioned the methodology of Sarepta’s research on eteplirsen and the benefits of the drug, sending the company’s stock plummeting. It must now hope the expert panel has a more positive view of the medicine’s benefits and risks. — DAN ADAMS

AUTOMOTIVE

Ford to make police cars that can stop armor-piercing bullets

It’s a first for police cars: Doors that can protect against armor-piercing bullets. Ford will soon be offering the doors on its Police Interceptor sedans and SUVs. They’ll be the first in the United States to meet the Justice Department’s highest standard for body armor, the equivalent of a bulky SWAT team vest. The doors are designed to stop a .30-caliber bullet shot from a high-powered rifle like an AK-47. That’s more powerful ammunition than many soldiers carry. — ASSOCIATED PRESS

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TELECOMMUNICATIONS

FCC proposes privacy rules for Internet providers

Federal regulators on Thursday proposed a broad new set of privacy rules for Internet providers, in a major bid to give Web users some of the same privacy protections online as they receive from their telephone providers. The government’s proposal would limit how carriers such as Verizon, Comcast, and T-Mobile can handle their Internet subscribers’ personal information — including their Web browsing habits, which apps they use, and other sensitive data. If approved, the rules would significantly expand the Federal Communications Commission’s role as a privacy watchdog, giving it new ways to oversee an industry that increasingly relies on customer data as a source of business. — WASHINGTON POST

AGRICULTURE

Congress members ask FDA to investigate fake maple syrup products

Members of Congress from maple-producing states are joining industry groups in calling on the Food and Drug Administration to investigate and take action against products that claim to contain maple syrup but don’t, according to their ingredient lists. Thirty-one members of Congress from the Northeast to the upper Midwest signed a letter sent to the FDA commissioner on Thursday. The congressional delegation in Vermont, the country’s largest maple producer, says products that falsely tout maple on their packages seem to intentionally mislead consumers who ‘‘get cheap, industrially produced sweeteners and artificial flavors’’ instead of the pure natural product. — ASSOCIATED PRESS

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TECHNOLOGY

Apple to have next product launch on March 21

Apple will hold its spring product launch on March 21, one day before it squares off with federal prosecutors over the government’s demand for help unlocking an encrypted iPhone. Analysts and tech blogs are expecting Apple will announce a new, 4-inch iPhone, a smaller iPad Pro, and new bands for the Apple Watch. But the company provided no details with its announcement of the San Francisco event, in keeping with its usual effort to build anticipation for its new products. A 4-inch iPhone would reverse an industry trend, which has turned out larger and larger screens. The most recent iPhone models have come with 4.7- or 5.5-inch screens, which have sold extremely well, particularly in Asian countries where larger phones made by Apple’s rivals had been big sellers in previous years.
— ASSOCIATED PRESS

ENERGY

TransCanada reportedly sought to buy another pipeline company

TransCanada Corp.’s request to build an oil pipeline through the United States was denied recently. So the company sought to buy its way into the region instead. TransCanada, whose Keystone XL pipeline project was rejected by the Obama administration in November, had been in talks with Columbia Pipeline Group about an acquisition, people briefed on the discussions said. Those discussions subsided recently and may not lead to a deal, one of the people said. Columbia’s shares gained 8.5 percent Thursday after The Wall Street Journal reported the talks. The increase gave Columbia a market value of $8.6 billion. TransCanada confirmed in a statement that it had been in conversations about a “potential transaction with a third party” without naming the company and declining to comment further. A representative from Columbia declined to comment. — NEW YORK TIMES

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