Genzyme buys into Brit firm

Genzyme intends to invest $37.7 million in a British company as part of an alliance to develop treatments for such diseases as scleroderma and rheumatic diseases.

Under the agreement with Cambridge Antibody Technology Group, Genzyme will buy an 11 percent stake in the company, giving it much- needed cash. – STAFF

Verizons OK portability

Verizon Communications and Verizon Wireless, a unit of the phone giant, have reached an agreement that would allow customers to keep their old phone numbers if they switch from a wireless service to home service, and vice versa, the companies said yesterday. – STAFF

Centers expand work

Beth Israel Deaconess Medical Center and Joslin Diabetes Center announced a five-year agreement yesterday that expands their clinical collaboration In addition to strengthening diabetes treatment and education programs, the two will create clinical guidelines and interactive programs for those with the disease. – STAFF

Trust goes shopping

Boston-based Heritage Property Investment Trust Inc. has agreed to buy seven Texas shopping centers and one in Mississippi from Trademark Property Co. for $160 million. – STAFF

Evergreen taps CEO

Evergreen Investments said yesterday that its chief investment officer, Dennis Ferro, will also be its chief executive. Ferro replaces Bill Ennis, who left Evergreen, an asset-management arm of Wachovia Corp., earlier this year. Ferro will be based in Evergreen’s Charlotte, N.C., office but will also work at the firm’s Boston office, a spokeswoman said. – STAFF

Complaint hits fund

Secretary of State William Galvin issued a complaint against a Hingham man yesterday for selling stakes in an unregistered hedge fund in which certain clients lost most of their money. Galvin is asking for the denial of a license application of Gerald Stonehouse, a former broker in the Norwell office of Wachovia Securities, and a fine.

Galvin has filed a complaint against the hedge fund, Futronix Futures Fund, and its manager. – STAFF

Dispute reaches tube

NEW YORK – Reporters for The Wall Street Journal and other Dow Jones & Co. publications began a monthlong boycott yesterday of voluntary appearances on CNBC in an escalating labor dispute over health-care benefits. – AP

Departure ends Motorola era

CHICAGO – Motorola Inc.’s CEO unexpectedly quit yesterday after clashing with the board over strategy, ending three generations of Galvin family control at the world’s No. 2 mobile phone maker.

Motorola said Christopher Galvin, 53, cited differences with the directors over the handling of the company’s stalled turnaround plan. He agreed to remain until a successor is named.

Motorola shares rose 6 percent to $11.75 in after hours trading following the announcement. – AP

Execs enter pleas

PROVIDENCE, R.I. – Two executives of British gaming firm Wembley Plc. and its U.S. subsidiary pleaded not guilty yesterday to charges that they conspired in an attempt to bribe public officials in order to put more video slot machines at a Lincoln, R.I., race track.

Wembley CEO Nigel Potter and Daniel Bucci, the head of Lincoln Park, were indicted by a federal grand jury earlier this month. They entered their pleas before U.S. Magistrate Judge Robert Lovegreen in Providence. – REUTERS

Fila shutters office

Italian sportswear and shoemaker Fila Holding SpA said yesterday that it will shutter a Peabody research office, along with 14 U.S. retail outlets as it revamps its business in moves that will trim 550 jobs, mostly in Europe. About a dozen Bay State jobs will be affected, a company spokesman said. – STAFF

JetBlue admits error

NEW YORK – JetBlue Airways yesterday apologized for giving sensitive information about 1 million of its passengers to a Pentagon contractor involved in an anti-terrorism project run by Torch Concepts, which specializes in pattern-recognition and data- mining technology that can help identify potential terrorist threats. – REUTERS

Relief fund created

The Asian American Bank set up a relief fund yesterday to help residents and businesses affected by a recent water main break on Hudson Street that flooded many basements. More than 30 people were displaced and about 10 businesses were significantly affected, a bank spokesman said. The bank is accepting donations at its branches in Chinatown, Allston and Quincy. It contributed $1,000 and will match its employees’ contributions to the fund. – STAFF

Bio deal worth $3.2M

Harvard Bioscience Inc., of Holliston, said yesterday that it bought Cambridge, England-based BioRobotics Ltd., a genetics lab instrumentation business, for about $3.2 million. – STAFF

Fund eyes consultant

The $28 billion Massachusetts state pension fund will name a consultant next month to help it invest more than $1 billion in hedge funds to diversify its portfolio. Finalists for the job are: New England Pension Consultants Inc., Wilshire Associates, and Wainwright Investment Counsel LLC, a pension fund spokesman said. – BLOOMBERG