Union loses bid to KO UFC fighter

The latest round in a prize fight between the Las Vegas casino conglomerate that owns the Ultimate Fighting Championship and a hospitality workers union goes to UFC, after union reps pushed unsuccessfully to deny a fight license for a headliner of next Saturday's mixed martial arts extravaganza at the TD Garden — the debut event for new cable channel Fox Sports 1.

The state athletic commission voted yesterday to grant a license to Chael Sonnen, a veteran fighter known for histrionics who in 2011 was fined $10,000 and sentenced to two years' probation after admitting an Oregon real estate transaction he conducted was designed to conceal or disguise proceeds of wire fraud.

Unite Here, which represents Vegas culinary workers, submitted a letter to the commission asking Sonnen be denied because he's been convicted of a "crime involving moral turpitude," a basis for license denial under regulations.

"While the conviction for money laundering may be considered a crime of moral turpitude, the commission is well within its right to consider the totality of the circumstances and allow the license to issue which is what it did," said Terrel Harris, a spokesman for the Department of Public Safety, which oversees the commission.

Unite Here has been at odds since the 1990s with Station Casinos, which is owned by Lorenzo and Frank Fertitta, who also own a controlling interest in the UFC, over efforts to unionize Station's workers. Station spokeswoman Lori Nelson said the company considers the targeting of UFC to be a "corporate harassment tactic" that is actually aimed at Station.

Boston-based members of Unite Here and the National Organization for Women — who protested what they called Sonnen's "shockingly derogatory statements about women, people of color, homosexuals, immigrants and other minorities" — crashed yesterday's commission meeting to testify, but were muffled after testy exchanges with commissioners. Two state troopers were summoned to stand in the hallway after union members hesitated to leave after the commission voted to go into private session.

Unite Here has launched a national campaign to disrupt the UFC, swaying New York lawmakers to uphold a ban in that state on MMA fights, pressuring UFC advertisers to pull out over distasteful behavior and remarks by fighters, and launching a web site called "UFC=Unfit for Children." The union supports a resolution proposed by City Councilor Stephen Murphy, to be debated next week, that would ban minors from attending the Aug. 17 UFC event, a pivotal night for the UFC and its television partner, Fox, because it will be the first live broadcast on Fox Sports 1, a new network designed to challenge ESPN.

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South End renovation a Royal jewel

Considering the overall need for more housing in the city of Boston, it's no surprise that the new "Royal" building under development in the city's South End neighborhood at 407-409 Shawmut Ave. is already at 50 percent under agreement in just the first six weeks of going to market.

The Royal project is composed of two adjacent buildings — an 1892 insurance company building and a mid-1800s brownstone — combined into a single structure. The new development will have 12 units in total, most with two or 
three bedrooms.

Nine of the units have floor-through layouts with 1,600 to 2,500 square feet of living­ space. There are also two garden duplex units, each with 1,600 square feet, and one one-bedroom condo with about 900 square feet.

All of the units will have beautiful high ceilings throughout. One of the structures is a corner building, and the units located there will include 18 windows and 10-foot-high ceilings.

Bringing the buildings back to their original detail will be the architectural firm of Finegold Alexander & Associates, which is known for its historical renovations. In addition, the interiors will be designed by Terrat/Elms Interior Design.

Expect to see finish work that is very high-end. Master bathrooms will be all white with marble and glass tile, free-standing tubs and large showers. The guest bathrooms will be grey and silver in glass and ceramic tile with "dropped-in" tubs. The kitchens will have a combination of flat-front espresso-stained cabinetry along with Shaker-style light taupe painted cabinets. The appliance package includes Thermador wall-mounted ovens and integrated refrigerators and dishwashers. In addition to hardwood flooring throughout, all units will have high-velocity cooling and heating systems as well as tankless hot-water heaters.

Scheduled to be completed in the summer of 2014, the remaining six available units range in price from $1.2 million to $1.9 million with the exception of the one-bedroom space at $575,000.

As this development is still months away from viewing, all showings are scheduled 
through the Coldwell Banker office located at 137 Newbury Street, where finish boards and floor plans may be reviewed.

The project is being offered exclusively by Ricardo Rodriguez and Brian Kelley of Coldwell Banker Residential Brokerage. For more information or to schedule an appointment, 
Mr. Rodriguez may be reached at Ricardo.Rodriguez@NEMoves.com

Charlie Abrahams is a licensed real estate agent in Boston who works with buyers and sellers and can be reached for any additional information at Bostonreal­estate@charlie­ abrahams.com.

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Tumblr founder to get $81M to remain at Yahoo

SAN FRANCISCO — Yahoo's recently completed acquisition of Internet blogging service Tumblr includes an $81 million payment to Tumblr founder David Karp as long as he remains on the job for the next four years.

The retention payment disclosed in a regulatory filing Thursday is part of the windfall that Karp and Tumblr investors realized by agreeing to sell the service for $1.1 billion in May.

Karp turned 27 last month. He started Tumblr in 2007, a few years after he dropped out of high school in New York to concentrate on computer programming.

Yahoo Inc. CEO Marissa Mayer has pledged not to make any dramatic changes at Tumblr in hopes that the acquisition won't alienate the blogging service's existing users, which includes a substantial number of teenagers and young adults.

As part of her promise "to not screw it up," Mayer is allowing Karp to run Tumblr independently in New York. Yahoo is based in Sunnyvale, Calif.

Karp is believed to own a 20 to 25 percent stake in Tumblr, which means he probably has already received a windfall, which hasn't been disclosed, from the sale to Yahoo. But he must stay at Tumblr until June 2017 under the provision disclosed Thursday to get the $81 million retention payment.

The payment will consist of $41 million in stock and $40 million in cash, according to Yahoo's filing. Another $29 million in stock options and restricted stock is being doled out to other unnamed Tumblr employees over four years.

The documents also disclosed that Yahoo paid a total of $44 million to buy six other companies during the three months ending in June. All told, Yahoo paid about $1.15 billion to buy 10 companies, including Tumblr, during the first half of the year.

Yahoo has bought several other startups since the end of June. The prices for those deals are likely to be disclosed in another regulatory filing in October and November.

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Obama to sign student loan deal

WASHINGTON — Students heading back to college this fall will save thousands in interest charges on their loans after they graduate once President Barack Obama signs into law a rare bipartisan compromise.

The president was scheduled to sign the deal Friday at the White House, ending a frenzied summer of negotiations to restore lower interest rates before millions of college students moved back into the dorms. About 11 million students this year are expected to have lower interest rates, saving the average undergraduate $1,500 on interest charges on this year's loans.

The legislation links student loan interest rates to the financial markets. It offers lower rates this fall because the government can borrow money cheaply at this time. If the economy improves in the coming years as expected, it will become more costly for the government to borrow money and that cost would be passed on to students.

Rates on new subsidized Stafford loans doubled to 6.8 percent July 1 because Congress could not agree on a way to keep them at the previous 3.4 percent rate. Without congressional and presidential action, rates would have stayed at 6.8 percent — a reality most lawmakers called unacceptable.

The compromise that came together is a good deal for all students through the 2015 academic year. After that, interest rates are expected to climb above where they were when students left campus in the spring, if congressional estimates prove correct for 10-year Treasury notes.

Undergraduates this fall would borrow at a 3.9 percent interest rate for subsidized and unsubsidized loans. Graduate students would have access to loans at 5.4 percent, and parents would borrow at 6.4 percent. The rates would be locked in for that year's loan, but each year's loan could be more expensive than the last.

Interest rates would not top 8.25 percent for undergraduates. Graduate students would not pay rates higher than 9.5 percent, and parents' rates would top out at 10.5 percent. Using Congressional Budget Office estimates, rates would not reach those limits in the next 10 years.

Even as they passed the bill, officials were already talking about a broader approach to curbing fast-climbing costs and perhaps scrap the deal when they take up a rewrite of the Higher Education Act this fall. As a condition of his support, Sen. Tom Harkin, D-Iowa, chairman of the Senate Health, Education, Labor and Pensions Committee, won a Government Accountability Office report on the costs of colleges. That document was expected to come in December.

"Even with this important bill signed into law, much work remains to ensure college stays within reach for middle-class families and those striving to get into the middle class," White House spokesman Jay Carney said Thursday.

But for now, interest payments for tuition, housing and books would be less expensive.

In all, some 18 million loans will be covered by the legislation, totaling about $106 billion this fall.

The Congressional Budget Office estimated the bill would reduce the deficit by $715 million over the next decade. During that same time, federal loans would be a $1.4 trillion program.

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Follow Philip Elliott on Twitter: http://www.twitter.com/philip_elliott

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Futures dip, setting up US markets for a down week

NEW YORK — Stock futures are heading lower, setting up a lower week for major U.S. markets after a raft of disappointing corporate earnings and more evidence that shoppers remain tightfisted.

Dow Jones industrial futures are down 42 points to 15,410. The broader S&P futures have lost 5.2 points to 1,688.50. Nasdaq futures are down 4.75 points to 3,122.25.

Economic data suggesting that a six-month economic slowdown in China may be abating gave markets a lift Thursday. But that optimism began to fade as U.S. retail sales numbers for July revealed a slow start to the back-to-school shopping season.

Economists expect the Commerce Department to report Friday that U.S. stockpiles are being depleted, which would set the stage for stronger economic growth heading into fall.

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Suit blames Boeing for San Francisco airport crash

SAN FRANCISCO — Three San Francisco Bay Area families are suing Boeing over the deadly crash of Asiana Airlines Flight 214.

The San Jose Mercury News says the suits filed Thursday allege that the maker of the Boeing 777 provided inadequate training to pilots in South Korea.

However, it doesn't make clear whether Boeing trained the pilots of Flight 214, which crashed last month while landing at San Francisco International Airport, killing three teenagers.

A crash survivor is among those suing.

The families also claim that Boeing should have added a "low airspeed" voice warning for pilots to the 777 following a similar crash of a Boeing 737 in Amsterdam four years ago.

The Mercury News says Boeing couldn't be reached for comment.

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Information from: San Jose (Calif.) Mercury News, http://www.mercurynews.com

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GrubHub, Seamless complete combination

NEW YORK — Rivals Seamless and GrubHub said Friday that they have completed their combination, creating an online takeout company covering about 25,000 restaurants in 500 cities.

The new company will operate under the name GrubHub Seamless, but both brands and their respective websites will continue to operate separately, company spokeswoman Allie Mack said.

Financial terms were not disclosed. The deal had been announced in May.

GrubHub CEO Matt Maloney becomes CEO of the combined company, while Seamless CEO Jonathan Zabusky will serve as president. Both New York-based Seamless and Chicago-based GrubHub will have significant representation on the new company's executive team and board.

"We are excited to take our collective experience and move forward together to set a new industry standard for restaurants, diners and corporate clients," Maloney, who co-founded GrubHub in 2004, said in a statement.

Online takeout ordering services work by contracting with restaurants, mostly in large metropolitan areas, to list themselves on the websites. Diners can search the menus, along with reviews posted by diners, on their computer or smartphone to find the food they want and then order and pay online.

The services appeal to diners by eliminating the need for a kitchen drawer of takeout menus, while also helping them discover new pickup and delivery options in their neighborhoods. Meanwhile, restaurants can benefit from new business and don't have to deal with as many phone orders, which can be labor intensive and prone to error.

Restaurants also don't have to commit to offering online ordering through just one service. As a result many already offer online ordering through both GrubHub and Seamless, along with other competitors such as Delivery.com and Eat24.com.

But that hasn't stopped the intense competition within the industry. In recent years, all of the major companies have stepped up their marketing efforts, boosting their sales staffs and promoting themselves through everything from print ads in subway systems to online contests and dining discounts distributed through social media like Twitter and Facebook.

While online ordering still accounts for just a tiny fraction of the overall takeout industry, GrubHub and Seamless processed about 130,000 orders a day combined in the first half of this year. Last year, orders through the pair totaled about $875 million in gross food sales, resulting in combined revenue of more than $100 million.

Seamless North America LLC, which got its start focusing on corporate orders, was spun off from Aramark Corp. last fall. Before that, Spectrum Equity Investors bought a minority stake in the company for $50 million. Seamless covers about 12,000 restaurants in 40 cities, mostly on the East and West Coasts, along with Houston and Austin, Texas, and overseas in London.

GrubHub, a startup that made its name catering to college students and through its quirky social media activities, now covers 20,000 restaurants in about 500 cities. It also owns Allmenus.com.

Mack said that for the time being, restaurants will still need to sign up separately to be represented by each of the brands and diners will need to maintain separate GrubHub and Seamless accounts.

The combined company plans to focus on maximizing growth, rather than cutting costs. As a result, all of its current offices will remain open and no job cuts are planned, Mack said.

Both GrubHub and Seamless are privately held and the combined company is expected to remain that way for the near term. Analysts have speculated that an initial public offering of stock could eventually follow.

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Follow Bree Fowler on Twitter at —https://twitter.com/APBreeFowler

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Oil rises above $105 per barrel after China data

NEW YORK — The price of oil rose above $105 a barrel Friday as positive economic news from China outweighed expectations that the U.S. Federal Reserve would soon start withdrawing its bond-buying program.

Benchmark crude for September delivery was up $1.84 to $105.25 per barrel in morning trading on the New York Mercantile Exchange. Oil fell $3.54 a barrel over the first four days of the week.

Meanwhile, U.S. drivers are paying a nickel less on average at the gas pump than they were a week ago. The national average for a gallon of gasoline fell a penny overnight to $3.58. That's the lowest average price since July 13.

China, the world's No. 2 economy after the United States, reported Friday that July's producer prices — the price of goods as they leave factories — fell less rapidly than a year earlier, a sign that demand may be improving. The official Xinhua News Agency said retail sales grew 13.2 percent in July from a year earlier, slightly down from June. Industrial production grew 9.7 percent, up from June's 8.9 percent and the highest year-on-year growth in five months.

Even with Friday's gain, speculation still overhangs the market that the Fed will start phasing out measures that have kept long-term interest rates at record low levels.

The Fed's policies have sparked investment in riskier assets such as stocks and oil. But comments from Fed officials this week indicate the central bank may be ready to begin reducing its monthly purchases of $85 billion in bonds as soon as September.

"Until some clarity is seen next month with the Fed policy meeting, the market will continue to zig and zag off of latest comments from some of the Fed membership," wrote Jim Ritterbusch, president of energy consultancy Ritterbusch and Associates, in a note to clients.

Brent crude, traded on the ICE Futures exchange in London, rose 59 cents to $107.26 a barrel.

In other energy futures trading on Nymex:

— Heating oil rose 1 cent to $2.96 a gallon.

— Natural gas rose 2 cents to $3.32 per 1,000 cubic feet.

— Wholesale gasoline rose 2 cents to $2.88 a gallon.

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Global markets rise after more positive China news

LONDON — Another round of largely better-than-expected Chinese economic data lifted Asian and European stock markets on Friday, though Wall Street lagged as trading volumes were low due to the summer lull.

Figures showed inflation in July steady at an annual rate of 2.7 percent. That was below market expectations for a modest increase to 2.8 percent. Meanwhile, industrial production rose 9.7 percent in the year to June, ahead of expectations for a 9 percent increase. The only modest disappointment was the news that retail sales grew 13.2 percent in July from a year earlier, slightly slower than June's growth rate.

Overall, analysts said the figures added weight to the argument that the recent soft patch in the world's second-largest economy may have come to an end. Market reaction was initially muted, as stocks had rallied already on Thursday after strong Chinese trade numbers. But as the day wore on European stocks gained ground.

"While we didn't get the reaction to the data that we saw yesterday, following the trade balance figure, I'd say the data out of China over night was actually quite positive," said Craig Erlam, market analyst at Alpari.

In Europe, Britain's FTSE 100 index rose 0.8 percent to close at 6,583.39 while Germany's DAX rose 0.2 percent to 8,338.31. The CAC-40 in France gained 0.3 percent to 4,076.55.

Mining companies, particularly in Britain, were the big gainers, as the Chinese data promised continued demand for raw materials from the country's big manufacturers.

On Wall Street, the mood was not as bright, with the Dow down 0.8 percent at 15,373.02 and the broader S&P 500 0.5 percent lower at 1,688.89.

Analysts think U.S. markets may drift in the run-up to the weekend. Trading levels in the U.S. in particular often dry up in the latter part of August and only pick up again once traders return to their desk following the Labor Day holiday in early September.

"Bereft of economic news, U.S. markets may struggle," said Chris Beauchamp, market analyst at IG.

In currency markets, the euro was 0.3 percent lower at $1.3340 while the dollar was down 0.5 percent at 96.23 yen.

Earlier in Asia, Japan's Nikkei 225 index ended 0.1 percent higher at 13,615.19 while South Korea's Kospi closed 0.2 percent lower at 1,880.71.

The mood in China was a bit more positive after the figures. The Shanghai Composite Index gained 0.4 percent to 2,052.24 and the Shenzhen Composite Index for China's second, smaller stock market gained 0.2 percent to 996.42. Hong Kong's Hang Seng gained 0.7 percent to 21,807.56.

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H&M pulls headdresses from Canadian stores

TORONTO — H&M said Friday that the fashion chain has pulled faux feather headdresses from its stores across Canada after receiving complaints the accessories are offensive to aboriginals.

H&M spokeswoman Emily Scarlett said the hair pieces — patterned head bands with bright pink-and-purple flowers — were part of the company's summer music festival collection called "H&M Loves Music."

"Music festivals these days are really about experimenting with fashion and dressing your personality. And they're very heavily based on accessories, really accessorizing your look."

The Toronto-based spokeswoman said the Swedish-based fashion chain received three complaints and quickly made the decision to remove the headdresses from the market.

"Of course we never want to offend anybody or come off as insensitive," Scarlett said. "We're always about being there for our customers."

The "music festival" explanation didn't sit well with Kim Wheeler, an Ojibwa-Mohawk from Winnipeg, Manitoba, who said the $15 accessories make a mockery of her culture.

"My first instinct was to buy all of them and throw them in the garbage," Wheeler said.

The 44-year-old media relations worker and former Canadian Press employee said she first saw the fashion accessories while shopping with her daughter last week at the store in Vancouver, British Columbia. She said she quickly realized she wasn't prepared to spend that much money to make a point that might not be heard.

Instead, she fired off an email to the company.

"Headdresses are worn by chiefs in some of our communities ... It is a symbol of respect and honor and should not be for sale as some sort of cute accessory... People in my community have kind of been fighting that whole 'hipster headdressing' for a while now."

Scarlett said an order to remove the items went out earlier this week to its 61 Canadian locations.

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