Ryan, David L. Globe Staff

Apartments and offices planned for Roxbury

Cruz Companies is planning a $47 million project on Warren Street in Roxbury. The big landlord and developer filed notice with the Boston Redevelopment Authority Tuesday of its plans for a two-building complex of apartments and office space at 280 Warren St. near Dudley Square. The first phase of construction would begin in early 2018 on a 51-unit mixed-income apartment building, with parking for residents and office space where Cruz plans to consolidate its four divisions into one central location. The company has tentative development rights for part of the site, which is owned by the city, and an option to purchase the rest, it said in its filing. A second phase would include 44 apartments for senior citizens and street-level storefronts. Cruz still needs to acquire two sites for that project. The project is the latest in a string of developments coming to nearby Dudley Square and other sections of Roxbury, where the Cruz Cos. has been based for more than 65 years. A Cruz spokesman said the company will likely spend the next year securing permits and aims to start construction in early 2018. — TIM LOGAN


Taj Boston sold

A group led by mall mogul Steve Karp closed on its purchase of the Taj Boston hotel Tuesday, for $125 million. Karp and his partners are buying the elegant-but-faded five-star hotel overlooking the Public Garden from Indian Hotels Co., but will retain the Taj flag and management under a long-term agreement. Indian Hotels had said keeping the 273-room hotel branded as a Taj was a condition of the sale. Karp's New England Development has said little about plans for the property, which they're purchasing with Woburn-based developer Eastern Real Estate, Boston investment firm Rockpoint Group, and two other partners, since confirming their deal to buy it in late May. But in a statement Tuesday, Karp said they intend to "make improvements to this legendary hotel so it becomes the focal point of Boston's cultural activities." — TIM LOGAN



Lexington company sold to private equity firm

The region has one less publicly traded tech company. Imprivata Inc., a seller of health care security software, is being purchased for $544 million by private equity firm Thoma Bravo. The deal, announced Wednesday, will give stockholders $19.25 per share, a 33 percent increase over the company's previous closing price of $14.50. The Lexington-based company held an initial public offering in 2014, one of four from the region's tech sector that year. But Imprivata's shares have languished since hitting an all-time high of $20.83 in August 2015. Imprivata's software helps hospitals manage valuable information, including products that transmit prescription data to pharmacies or let employees log into various computer programs with a security badge. Imprivata has reported growing sales, increasing its revenue from about $97 million in 2014 to $119 million in 2015. But the company has not been profitable: it lost about $23 million last year, compared with nearly $17 million a year earlier. — CURT WOODWARD



Amazon breaks record with Prime Day

Amazon.com rang up its biggest sales day ever on Tuesday as shoppers hit up its Prime Day event, a daylong pageant of deals available only to members of its Prime subscription program. The e-commerce giant reported Wednesday that sales at this year's event were 60 percent higher than during the inaugural Prime Day in 2015 and topped any previous Black Friday or Cyber Monday. That the sale drew such strong spending from shoppers for a second year suggests that Amazon is making inroads establishing this as an appointment summer shopping event — something that is not an easy task at a time of year when many consumers are sitting tight in anticipation of back-to-school shopping season. — WASHINGTON POST



Growth rate brings Ireland ridicule, scrutiny

What price does a developed economy pay for posting 26.3 percent growth in a single year? Global ridicule, a renewed focus on its tax system, and about 400 million euros ($443 million) a year. At least, that's the fate Ireland suffered after its statistics office said in Dublin on Tuesday that the economy in 2015 grew at the fastest pace on record for any country in the rich-nation club known as the Organization for Economic Cooperation and Development. In parliament in Dublin on Wednesday, opposition leader Micheal Martin urged the government to set up an inquiry into the figures, after Nobel laureate Paul Krugman dubbed the numbers "leprechaun economics." The Irish surge is mostly explained by the open nature of Ireland's economy and its attraction to US companies seeking access to a 12.5 percent tax rate. — BLOOMBERG


Losing control of Newark gates to cost United $412m

Losing near-monopoly control over Newark Liberty International Airport is going to cost United Airlines $412 million, or $264 million after taxes. The Federal Aviation Administration announced in April that it would lift all the restrictions at Newark, essentially opening it to as many flights and airlines that could secure gate space at the airport. The new flight rules go into effect at the end of October. The FAA announcement arrived five months after the Department of Justice sued United to block it from acquiring additional slots at the airport, a major hub for the carrier just a few miles from New York City. — ASSOCIATED PRESS



First person convicted of ‘spoofing’

Michael Coscia, the first person convicted of spoofing after it was made a crime under the Dodd-Frank Act, was sentenced to three years in prison by a federal judge in Chicago, less than half the time sought by prosecutors. The practice typically consists of systematically placing orders without intending to execute them to trick the market into thinking there's interest in buying or selling that doesn't actually exist. Coscia, 54, was convicted by a jury in November of manipulating futures markets by placing unusually large orders he didn't intend to execute and then filling smaller trades on the opposite side. — BLOOMBERG


French president’s hairdresser gets notice over pay

French President Francois Hollande's hairdresser is paid a gross salary by the state of 9,895 euros, or $10,958, a month. Just a third less than Hollande's own salary, it is more than the gross monthly wage of a European Parliament member, which stands at about 8,213 euros, excluding expenses. The salary paid to the Socialist president's coiffeur at the Elysee presidential palace was confirmed by the government after satirical magazine Canard Enchaine published details of the terms, including an image of his contract. "Everyone needs their hair done, no?" Stephane Le Foll, the government spokesman, said after the weekly cabinet meeting at the Elysee Palace Wednesday in Paris. "I can understand people's questions, I can understand their judgments. He's not just anybody, that's all." — BLOOMBERG



New content editor for Time Inc.

Alan Murray, the editor of Fortune, will succeed Norman Pearlstine as Time Inc.'s chief content officer, part of a broad reorganization of the company as it shifts its focus away from its stable of print magazines. Pearlstine, a former editor-in-chief of Time Inc. who returned in 2013 after working at Bloomberg, will stay on at the company as its vice chairman, the company said Wednesday. The move comes two years after Time Inc. spun off from its parent company, Time Warner, and signifies a further shift in Time Inc.'s strategy. — NEW YORK TIMES