BRA permitting research center

The Boston Redevelopment Authority yesterday approved the Blackfan Research Center, a 575,000-square-foot biomedical building planned for the Longwood Medical Area. The $120 million project is being built by Lyme Properties. It is expected to generate 400 construction jobs and house 700 permanent jobs. – STAFF

CanaRx gets extension

CanaRX, the Canadian company selling prescription drugs to U.S. residents – including Springfield employees – has been granted a 14- day extension to conform to federal law. The FDA gave CanaRX until Oct. 21 to correct its drug-delivery violations or face legal action.

CanaRX President G. Anthony Howard said yesterday that he has changed some of his company’s procedures and stopped delivering certain medications. – STAFF

Value City changes name

Value City Department Stores Inc., which operates Boston-based Filene’s Basement and other retail chains, changed its name yesterday to Retail Ventures Inc. The company said it made the move to eliminate confusion between itself and its operating units, which include Value City Department Stores, Filene’s Basement and DSW shoe stores. – STAFF

BoA pledges restitution

CHARLOTTE, N.C. – Bank of America Corp. vowed yesterday to set up a restitution fund for investors in mutual funds who lost money because of alleged improper trading that gave a hedge fund advantage over other investors.

The hedge fund at the center fo the allegations is Canary Capital Management LLC. – AP

Mesa may dig deeper

Mesa Air Group mulled sweetening its unsolicited $512 million offer for Atlantic Coast Airlines yesterday and said it would take its bid to shareholders unless Atlantic directors agree to discuss the proposal.

Atlantic Coast said yesterday that its directors were evaluating Mesa’s stock bid, which would create the largest U.S. commuter carrier. – BLOOMBERG

Site owes Tiffany

NEW YORK – Tiffany & Co. said yesterday that it was awarded damages of $573,819 from an Internet site operator accused of selling counterfeit merchandise bearing the name of the venerable jeweler. Tiffany’s said that a federal judge ordered the owners of the site, finest4less.com, to pay the damages last month. – DOW JONES

CVS beats Q3 earnings

Drugstore giant CVS said yesterday that third-quarter earnings topped internal forecasts, helped by an 8.5 percent jump in sales and raised its annual earnings estimate. CVS attributed the gains to longer store hours, lower prices and tighter inventory controls. – AP

Stewart seeks to cut charges

NEW YORK – Martha Stewart asked a federal judge yesterday to toss out two of five counts against her in an indictment surrounding her sale of ImClone Systems Inc. shares in 2001 just before the stock plunged.

Stewart, in papers filed in Manhattan federal court, asked the judge to dismiss one count of securities fraud and one count of obstruction of justice. She is also charged with two counts of false statements and one of perjury. – AP

Fidelity hears from AG

Fidelity Investments has joined the list of many mutual fund firms contacted by New York Attorney General Eliot Spitzer in his sweeping probe into the improper trading of fund shares.

A Fidelity spokeswoman said yesterday that the firm has received a subpoena from Spitzer’s office, asking for information about after- hours and short-term trades. The spokeswoman said Fidelity will comply fully with the request. – STAFF

Court favors vendors

WASHINGTON – The Supreme Court said yesterday that it would let stand a ruling that a city ban on peddling outside a major sports arena violated constitutional free-speech rights. Without any comment, the high court rejected an appeal by Chicago defending its law that prohibits peddling on public sidewalks in certain areas of the city. – REUTERS

Sodexho can be sued

The Supreme Court said yesterday that it is refusing to stop about 2,600 current and former black managers from suing food services company Sodexho Marriott Services Inc. in what the company described as the largest employment discrimination case of its kind.

The justices had been asked to use the case to clarify when a judge’s decision to allow a class-action lawsuit can be challenged. – REUTERS

TA buys in London

TA Associates, a private equity firm in Boston, said it bought a minority interest in GlobeOp Financial Services, of London, for $82 million. TA, which manages $5 billion in assets, said it bought shares from GlobeOp, a firm that offers services to hedge funds, and its shareholders. TA didn’t reveal the exact size of its stake in GlobeOp. – STAFF

UPS says it’s sped up

ATLANTA – United Parcel Service Inc. will deliver ground packages a day faster in 20 of the nation’s largest cities, the company said yesterday. Improvements in using railroads, trucks and technology have allowed UPS to guarantee some of its packages will arrive a day earlier than under its previous schedule, said UPS spokeswoman Christine McManus. – AP