ALCOHOL

ABCC to suspend craft beer distributor’s license

The state Alcoholic Beverages Control Commission sent a strong message to the beer industry, slapping a big distributor with an unprecedented 90-day license suspension for paying Boston bars tens of thousands of dollars to carry its beers and freeze out competitors. The regulator found that Craft Brewers Guild had engaged in a so-called pay-to-play scheme to get retailers to carry its clients’ products over rivals’, spending around “$120,000 to pay kickbacks’’ to a dozen Boston-area establishments. Craft Brewers Guild would not say whether it would appeal but issued a statement that promised consumers would not be affected by the decision.

BIOTECH

Pharma strikes back

After months of taking a public beating for soaring prices, drug companies are telling their side of the story. Two big ­industry groups are launching advertising campaigns (left) highlighting how their breakthroughs can improve or safe lives. The ads, from the Pharmaceutical Research and Manufacturers of America, known as PhRMA, and the Biotechnology Innovation Organization, or BIO, are designed for social media outlets such as Facebook, Twitter, and LinkedIn. They are targeted primarily at lawmakers and policy makers. The ads don’t specifically mention drug prices, but focus on ­patients, researchers, and life-extending therapies.

RESTAURANTS

Upper Crust, under new ownership, expands to Beverly Hills

Upper Crust, the Boston pizza chain that sank into bankruptcy following allegations of exploiting immigrants and violating wage laws, may find new life catering to the real upper crust. The brand, bought out of bankruptcy by a company backed by a Boston private equity firm, is opening a location in Beverly Hills. The new pizza shop will be co-managed by the chain’s founder, Jordan Tobins, who lost control of the company in the 2012 bankruptcy. Tobins, who said he is an employee, not an owner, acknowledged he had made mistakes in operating the chain. “We’re moving forward,’’ Tobins said.

RETAIL

European regulators OK Staples, Office Depot merger

Framingham office supplies giant Staples Inc. moved a step closer to completing its $6.3 billion buyout of rival Office Depot Inc. after the deal was approved by the European Union. European regulators signed off on the proposed acquisition after Staples agreed to divest some of Office Depot’s businesses in Europe, including all of its operations in Sweden. The purchase has also been approved by regulators in Australia, New Zealand, and China, but trade and competition officials in the United States and Canada are engaged in lawsuits with the Framingham company seeking to block the merger.

BIOTECH

Astellas claims Ocata for $379 million

Overcoming fierce opposition from disgruntled investors, Japanese drug maker Astellas Pharma Inc. won over enough shareholders to complete its $379 million buyout of Ocata Therapeutics Inc. Astellas said Wednesday it prevailed in its twice-extended tender offer for Marlborough-based Ocata, accumulating the more than 50 percent of outstanding shares to gain control of a company known as a pioneer in regenerative medicine. At issue was not only the sale price for Ocata, which has about 35 employees, but also its intellectual property in embryonic stem cells. Such cells can grow other cells, which Ocata plans to implant in the eyes of patients with macular degeneration.

RESTAURANTS

Panera buys majority stake in Tatte Bakery & Cafe

Tatte Bakery & Cafe, the go-to breakfast and lunch spot for Brookline hipsters and Kendall Square tech workers jonesing for strong coffee and nutty pastries, is getting a new owner: Panera Bread Co. The St. Louis baked goods and sandwich chain bought a majority stake in Tatte for an undisclosed price. So will the nationwide chain known for broccoli and cheddar soup and chicken salad sandwiches change the local bakery where pistachio croissants, mezze plates, and short-rib grilled cheese sandwiches are more the norm? Both Panera and Tatte’s founder, Tzurit Or, say no. Tatte will continue to operate as an independent company, Panera said.

ENERGY

South Boston power plant on the block

The smokestacks that have loomed for decades over South Boston could soon be coming down. Exelon Corp. has put the old Boston Edison power plant at the corner of Summer and First streets up for sale, and likely probably for re-development. At least a half-dozen developers have bid on the 18-acre site, according to people familiar with the sale. While reuse plans haven’t been made public, experts say any winning bidder would likely turn the now-little-used power plant into a mix of housing and commercial space. An Exelon spokesman said they hope to close a deal this year.

TECHNOLOGY

Asics buys Runkeeper

Runkeeper, supplier of a smartphone app that tracks users’ jogging routes, has been purchased by Japanese sports-apparel company Asics Corp. for about $85 million, giving new life to one of the first successful Boston startups of the iPhone era. Asics said Runkeeper would become a subsidiary. Asics added it would benefit from both Runkeeper’s technology and “a management team with extensive experience in this field.’’ In a blog post, Runkeeper CEO and founder Jason Jacobs said that little would change for the app’s users. Runkeeper’s investors include Boston venture firms Spark Capital and Launch Capital.

ECONOMY

Yellen warns of slowing growth

Federal Reserve Chair Janet Yellen (left) cautioned Wednesday that global weakness and falling financial markets could depress the US economy’s growth and slow the pace of Fed interest rate hikes. But Yellen made clear that the Fed won’t likely find it necessary to cut rates after having raised them from record lows in December. She reiterated the Fed’s confidence that the US economy was on track for stronger growth and an increase in too-low inflation. At the same time, she noted the weaker economic figures in 2016 began and made clear the Fed is nervous about the risks from abroad.

FINANCE

Nice raise for Bank of America’s Moynihan

Bank of America Corp. awarded chief executive Brian T. Moynihan $16 million for his work last year, raising his compensation 23 percent. Moynihan, of Wellesley, received $14.5 million in stock grants for 2015. His salary, $1.5 million, was unchanged from 2014, according to a regulatory filing. Moynihan, 56, survived a battle with investors last year over whether he should be stripped of his role as chairman. Bank of America shares slid 5.9 percent in 2015, trailing the 3.5 percent drop of the 90-company Standard & Poor’s 500 Financials Index.