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SoftBank raises stake in Yahoo Japan in purchase from Altaba


IHOP admits its name change was phony

Pancake chain IHOP confirmed that the company faked its recent name change as a stunt to promote its burgers, the company tweeted on Monday. The return to its true name comes as the pancake chain celebrates its 60th birthday. ‘‘We’d never turn our back on pancakes (except for that time we faked it to promote our new burgers),’’ the company’s tweet said. International House of Pancakes, popularly known by the acronym IHOP, seemingly rebranded itself last month to IHOb, or International House of Burgers. The name change came as the company introduced a line of black angus burgers, though it has had burgers on the menu for some time. The initial announcement last month drew a combination of criticism, confusion, and ridicule in the Twittersphere. Plenty of people on Twitter figured out early on that the name change was a stunt, and the company confirmed to the Associated Press after the name change announcement that it was a ‘‘tongue-in-cheek’’ promotion for their summer burger menu. — WASHINGTON POST


Klarman says Kindle version of his book was published without his approval

Baupost Group said the version of Seth Klarman’s 1991 investment book, “Margin of Safety,” that appeared on Amazon.com was published without his approval and that his legal team is taking action. Klarman, a hedge fund legend and Baupost’s chief executive officer, hasn’t authorized republication of the book in any form. The Boston-based firm said in a statement Tuesday that what showed up on Amazon was a copyright violation. The Kindle version of the book appeared online earlier this month and was being sold for $9.99. It was no longer available on Amazon as of 11:31 a.m. Eastern time. A call to an Amazon representative, Kinley Pearsall, wasn’t immediately returned. Hard copies of the book, which has long been out of print, have fetched as much as $2,500 among collectors. Photocopied versions have been known to circulate among analysts who are too poor — or too tight-fisted —- to pay up for the real thing. The Kindle version of Klarman’s book appeared to suggest publication was linked to Oceanofpdf.com, an organization that offers free book downloads online. In a mission statement posted on its website, Oceanofpdf says: “We believe that knowledge and information should be free and accessible to everyone around the globe.” An e-mail to Nicholas Liam, listed as a contact on Oceanofpdf’s website, wasn’t immediately answered. — BLOOMBERG NEWS



Charleston cracks down on short-term rentals

One of South Carolina’s most popular destinations is imposing new rules for residents who use their homes for short-term rentals. WCSC-TV reported that Charleston is cracking down on people who lack permits for offering rentals through Airbnb, VRBO, HomeAway, or other companies. The city is taking action after complaints that short-term renters use too many parking spaces and party late at night. The rules that took effect Tuesday include fire marshal inspections, business licenses, and other requirements. Breaking the rules can bring fines up to $1,087 a day, and 30 days in jail. — ASSOCIATED PRESS



Walmart to do same-day deliveries in NYC

Walmart Inc.’s Jet.com unit will soon be making same-day grocery deliveries in New York City, upping the fight for customers in a highly competitive market. Jet will open a fulfillment center in the Bronx this fall to bring same-day and next-day delivery to the city, the company said in an emailed statement. The center will stock Jet inventory, which includes groceries and everyday essentials, as well as other select merchandise. Rival Target Corp. already offers same-day delivery for in-store purchases to parts of New York City for a fee, and Amazon.com Inc. has same-day food delivery in the city through PrimeNow.



Southwest to stop serving free peanuts because of allergy concerns

Southwest Airlines Co. will stop serving the small bags of free peanuts long associated with the discount carrier’s no-frills business model. Peanuts won’t be served on any flights starting Aug. 1 because of concerns about allergies, the Dallas-based airline said in an e-mail Tuesday. Free pretzels will continue to be offered, while additional snacks such as small packs of cookies or chips will be available on longer flights, Southwest said. — BLOOMBERG NEWS


Bain raises $5.1b for fifth European buyout fund

Bain Capital has raised $5.1 billion for its fifth European buyout fund, surpassing its initial target of 3.5 billion euros, according to people with knowledge of the situation. The Boston-based firm’s employees and their partners invested about 700 million euros alongside the fund, said the people, who asked to not be identified because the matter isn’t public. Bain, founded in 1984, manages more than $95 billion in private equity, credit, real estate and other assets, according to its website. — BLOOMBERG NEWS


Federal government orders closure of immigrant investor center after Jay Peak case

US Citizenship and Immigration Services has ordered Vermont to close its immigrant investor regional center following the alleged fraud at Jay Peak ski resort involving millions of dollars from the investor program. The state plans to appeal the decision. Officials say while the state agrees with eventually closing the center, it thinks the best way is to wind down the operations and then close it to protect investors and possible jobs. Jay Peak owner Ariel Quiros and former Jay president William Stenger were accused in 2016 of misusing more than $200 million raised from foreign investors through the EB-5 visa program for developments at or near the resort. Quiros has reached an $81 million settlement with the Securities and Exchange Commission. Stenger has agreed to pay a $75,000 penalty. — ASSOCIATED PRESS



Mice breeding facility to open in Maine

A Maine laboratory will celebrate the opening of a new $200 million mice breeding facility next month. The Jackson Laboratory is holding the invitation-only Aug. 23 event at the new facility in Ellsworth, where the project is expected to create as many as 350 jobs when finished in 2026. The Bangor Daily News reported that Jackson Laboratory is an independent, nonprofit biomedical research institution known for its research into human disease and for breeding scientifically engineered mice for biomedical research. The lab employs about 1,800 people — including around 1,200 in Bar Harbor. — ASSOCIATED PRESS


Pepsi continues to sell less as drinking habits change

PepsiCo’s beverage sales are still struggling as the company tries to adjust to Americans’ changing drinking habits. The maker of Gatorade, Mountain Dew, and Tropicana said Tuesday that sales volume declined for its North American beverage unit in the second quarter. The dip came despite the company’s efforts in recent years to introduce new drinks that are in line with trends. Earlier this year, for instance, PepsiCo launched a sparkling, flavored water brand called Bubly, a nod to the success of drinks like La Croix. Rival Coca-Cola has also been trying to update its lineup of drinks. It reports quarterly results later this month. — ASSOCIATED PRESS