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PUBLIC SPACES

Citizens Bank to continue sponsorship of The Lawn on D

Citizens Bank has recommitted to being title sponsor for The Lawn on D, the popular park next to the convention center in South Boston. The bank is paying $250,000 — the same amount as last year — for the rights to have its name and logo incorporated into all promotional material, including the park’s moniker: The Lawn on D Powered by Citizens Bank. Between Citizens’ sponsorship and increased revenue from private events and concessions, the Massachusetts Convention Center Authority was able to reduce the D Street park’s deficit from $2.3 million in 2015 to about $250,000 to $350,000 this year, according to authority officials. David Gibbons, executive director of the convention authority, praised Citizens’ return as the park’s main sponsor. “The Lawn On D has become a favorite gathering spot for the community and the support of the Citizens Bank team has contributed significantly to making the space more successful and financially sustainable,” Gibbons said in a statement on Monday. Jerry Sargent, president of Citizens Bank Massachusetts, said in the same statement that the bank was “thrilled” to return. The park’s estimated revenue topped $1.2 million in the 2016 season, three times more than in 2015. Gibbons had been under pressure from the agency’s board to reduce the cost of running the 2.7-acre park. Officials are hoping to replicate that success in 2017 by pursuing sponsorships with other companies for individual events. The Lawn on D’s signature neon oval swings and hundreds of events, including concerts and workout and dance sessions, drew more than 200,000 visitors between May and October. The 2017 season is scheduled from May 1 to Oct. 31. — KATHELEEN CONTI

BIOTECH

Biogen shareholders to receive shares of new spinoff

Biogen Inc., which in May announced plans to spin off its hemophilia drug business as a separate company, said Tuesday that Biogen shareholders will receive one share of the new company — to be called Bioverativ Inc. — for every share of Biogen they own. The special dividend distribution will be paid on Feb. 1. The stock distribution is the final step of the Bioverativ spinout. The Cambridge biotech — whose core business is selling drugs to treat multiple sclerosis and other neurological diseases — won’t have an ownership stake in Bioverativ. The new company will be independent, trading on the Nasdaq exchange under the symbol BIVV. — ROBERT WEISMAN

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AUTOMOTIVE

Volkswagen reaches deal involving 80,000 diesel vehicles in emissions scandal

Volkswagen reached a $1 billion deal Tuesday that will give at least some owners of the remaining 80,000 diesel vehicles caught in the company’s emissions cheating scandal the option of a buyback and provide all of them with compensation on top of any repurchase or repairs. The settlement with US regulators and attorneys for owners of the 3-liter diesel cars will include a choice of a buyback for 20,000 vehicles, according to US District Judge Charles Breyer in San Francisco. Volkswagen believes it can bring the other 60,000 vehicles into compliance with pollution regulations and will not offer a buyback if that’s the case, Breyer said. The German automaker also will contribute $225 million to an environmental fund to offset the cars’ excess pollution, Cynthia Giles of the Environmental Protection Agency said in a conference call with reporters. The company previously reached a nearly $15 billion deal for the 475,000 2-liter diesel cars also programmed to cheat on emissions tests. Tuesday’s settlement appears to mirror the terms for the cars with smaller engines. — ASSOCIATED PRESS

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PHARMACIES

Walgreens and Rite Aid to sell 865 stories to clear path for purchase

Walgreens and Rite Aid will sell 865 stores to rival retailer Fred’s for $950 million, potentially removing the final roadblock thwarting a tie up between the nation’s largest and third-largest drugstore chains. Wall Street certainly saw it that way, sending shares of all three companies higher. Walgreens is working to close its $9.4 billion purchase of Rite Aid early next year. It said Tuesday that it’s selling the Rite Aid stores in response to concerns raised by federal anti-trust regulators. The deal still needs to be approved by the Federal Trade Commission. — ASSOCIATED PRESS

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RETAIL

Chains to drop on-call scheduling

Disney and Aeropostale are among six retailers that have agreed to stop using on-call scheduling, a system worker advocates have said means too much unpredictability for employees. The change in scheduling was made following an inquiry by nine attorneys general, including Massachusetts Attorney General Maura Healey (right). New York Attorney General Eric Schneiderman said Tuesday about 50,000 workers nationwide will benefit. On-call scheduling requires employees to call before a scheduled shift to find out if they have to work that day. Worker advocates say it can leave employees scrambling for child care, unable to hold second jobs, and with uncertain paychecks. A Disney spokeswoman said the retailer started phasing out on-call scheduling in July 2015. Rounding out the six companies are Carter’s, David’s Tea, PacSun, and Zumiez. They’re among 15 retailers who received a joint letter from the attorneys general. The other nine companies — American Eagle, Payless, Coach, Forever 21, Vans, Justice Just for Girls, BCBG Maxazria, Tilly’s Inc. and Uniqlo — say they don’t use on-call scheduling or have recently ended it. Other retailers have changed their practices. Walmart, the nation’s largest private employer, rolled out a new scheduling system in July in about 650 Neighborhood Market stores that gives hourly workers more certainty about their schedules. — ASSOCIATED PRESS

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LABOR

Jamaican workers at S. Carolina resort to share in $2m settlement

About 240 Jamaican workers at a luxury golf resort in South Carolina will be splitting $2 million under a deal to settle a lawsuit alleging they had been cheated. The order signed Dec. 16 by US District Judge Richard Gergel applies to a pool of Jamaican guest workers who worked for Kiawah Island Golf Resort on H-2B visas. The program allows US employers to bring foreign nationals to the country to fill temporary nonagricultural jobs. Several guest workers filed a class-action lawsuit last year accusing Kiawah of failing to properly pay them minimum wages by deducting housing and transportation costs from their pay for kitchen, serving, and housekeeping jobs from 2012 through 2014.
— ASSOCIATED PRESS

ENTERTAINMENT

AMC can buy rival chain if it sells some theaters

Federal regulators say movie-theater chain AMC Entertainment Holdings Inc. can buy smaller rival Carmike Cinemas Inc. for $1.2 billion if it sells some theaters. The deal will make AMC the biggest US movie theater operator. The Department of Justice says its approval hinges on AMC selling theaters in 15 markets where it competes with Carmike. The Leawood, Kan., company also has to sell most of its holdings in National Cinemedia, a cinema advertising company, and transfer 24 theaters to a rival theater ad company, Screenvision LLC. The Justice Department says the deal would lead to higher prices for moviegoers without those conditions. — ASSOCIATED PRESS

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RETAIL

Limited HEADSto bankruptcy COURT

Limited Stores is planning to file for bankruptcy protection within weeks and most likely liquidate its business, according to people with knowledge of the matter. The struggling retailer has retained Kirkland & Ellis as its legal adviser, said the people, who asked not to be named because the hire is private. Guggenheim Securities and RAS Management Advisors have been hired to help with a debt restructuring and any asset sale, the people said. Limited Stores, once part of L Brands Inc., was spun off in 2007 in a leveraged buyout by private-equity firm Sun Capital Partners Inc. The chain has struggled like other mall-based retailers as consumers shift spending to experience rather than clothing. Online merchants also took away a big chunk of their market share. — BLOOMBERG NEWS