Real estate

Cambridge lab space doubles in worth in 18 months

In the latest example of the hot market for lab space in Cambridge, a building near the Alewife T station sold for twice what its owner paid for it 18 months ago. King Street Properties last week closed a deal to sell 200 CambridgePark Drive — a 99-percent-leased six-story laboratory building — to an arm of Morgan Stanley Real Estate Investing for $165.5 million. In June 2014, King Street bought the building for $39.75 million as part of a two-building, $54.5 million deal with Pfizer. It invested $44 million in improvements and tenant build-outs, and leased nearly all of its 221,000 square feet, attracting Celgene and Amgen as lead tenants. At nearly $750 per square foot, the deal is among the richest seen yet in Cambridge. King Street, which focuses its efforts on life science developments in areas beyond booming Kendall Square, plans to use its profit of more than $80 million to invest in new projects. The company is building a $91 million “spec’’ lab building in Lexington. King will continue to operate 200 CambridgePark on behalf of Morgan Stanley. It will still own 87 CambridgePark, which it also bought from Pfizer for $14.8 million. — TIM LOGAN

Health care

NaviNet Inc. sold to California company

The Boston health care technology company NaviNet Inc. has been acquired by NantHealth LLC, a Culver City, Calif., company that uses genetic information and medical data to develop personalized treatment plans for cancer and other diseases. NaviNet, founded in 1998, provides doctor’s offices and hospitals with instant access to patients’ health care insurance information. The acquisition will allow NantHealth to use Navinet’s network — representing 60 percent of the nation’s physicians — to quickly deliver genetic test results to doctors, said Frank Ingari, chief executive of NaviNet. Doctors can then use the system to search for the best clinical trials for their patients. The acquisition will also allow NantHealth to provide comprehensive patient records to insurers, making it easier for someone in need of surgery, for example, to get authorization for a procedure, Ingari said. Combined, NaviNet’s administrative network and NantHealth’s clinical platform will cover nearly 100 million people. NantHealth, a subsidiary of NantWorks, is owned by billionaire Patrick Soon-Shiong, a pioneer in personalized cancer care and part owner of the Los Angeles Lakers. — KATIE JOHNSTON

Retail

Cyber Monday was good for Amazon

NEW YORK — Amazon’s sellers had a strong Cyber Monday. The retailer said Tuesday that customers ordered more than 23 million items from its sellers on the popular online shopping day after Thanksgiving. That was up 40 percent from the previous year. Meanwhile, Amazon’s investments in its ‘‘Fulfillment By Amazon’’ service seem to be bearing fruit, with 1 billion items delivered in 2015 for businesses selling on Amazon. — ASSOCIATED PRESS

Economy

State’s employers lost some confidence

Massachusetts employers last year consistently expressed more confidence in the state’s economy than they had in more than a decade, although that confidence waned as 2015 progressed, according to the business advocacy group Associated Industries of Massachusetts. The organization’s Business Confidence Index, based on a survey of Massachusetts employers, was above 55 every month, the first time the index was consistently that high since 2004. The index is calculated on a 100-point scale; anything above 50 is considered positive. But confidence peaked early, in March, and declined in seven of the last nine months, sliding to its lowest level of the year in December — below what it was at the end of 2014. — KATIE JOHNSTON

Housing

Foreclosures continue increase

Foreclosure starts in Massachusetts were up nearly 42 percent in November compared to the year before, according to the Warren Group, a real estate tracking firm. In the first 11 months of 2015, the number of petitions initiating foreclosures increased 50 percent over the same period in 2014. Lenders filed 910 foreclosure petitions in November of this year, up from 643 in November 2014, marking the 21st consecutive month of year-over-year double-digit increases in filings. There were also 6,281 foreclosure auctions scheduled from January to November, a nearly 26 percent increase over the same time period the year before. — KATIE JOHNSTON

Legal

Game maker settles with FTC over advertisements

WASHINGTON — The developer of Lumosity ‘‘brain training’’ games will pay $2 million to settle federal allegations that it misled customers about the cognitive benefits of its online apps and programs. The Federal Trade Commission said Tuesday the company’s advertisements deceptively suggested that playing the games a few times a week could boost performance at work, in the classroom, and even delay serious conditions like dementia. Under the settlement, Lumos Labs must contact its customers and offer them an easy way to cancel their subscriptions. — ASSOCIATED PRESS

Legal

JPMorgan Chase to pay final $48m

WASHINGTON — JPMorgan Chase will pay $48 million to settle the last in a series of missteps in its handling of foreclosures after the 2008 credit crisis, according to the Office of the Comptroller of the Currency. The largest US bank by assets will be fined for failing to meet terms of a 2013 accord over mortgage-servicing flaws, the agency said in a statement Tuesday. The new fine will close out JPMorgan’s OCC obligations from the earlier order, under which it had previously faced $2 billion in penalties and payments to borrowers. — BLOOMBERG NEWS

Technology

Twitter testing higher character count

Since its beginning, Twitter has kept a tight limit on the number of characters users can squeeze into a single tweet — 140 of them, to be exact. But that could all change this year. The company is said to be testing a change to the service that could allow posts with as many as 10,000 characters at a time. Some Twitter users are already revolting over the idea, but if it moves ahead, it would become Twitter’s latest attempt at expanding the service’s appeal. — WASHINGTON POST

Airlines

Spirit replaces CEO as stock slumps

NEW YORK — Ben Baldanza (right), who led the industry push for more and more airline fees, is out as chief executive of Spirit Airlines. Spirit was losing money until Baldanza, 54, took over in 2006. He oversaw the airline’s transformation into an ‘‘ultra-low cost carrier,’’ an airline that didn’t include anything in its base fare and charged extra for seat assignments, snacks, soda, boarding passes, and even using the overhead bin. — ASSOCIATED PRESS

Finance

Nevsky Capital hedge fund to close

Nevsky Capital’s $1.5 billion hedge fund is shutting down, part of a growing trend among money managers following weak returns in 2015. What’s unusual is the reason the managers gave for folding: navigating markets driven by computers and index funds. The London-based firm managed by Taylor and Nick Barnes makes bets on rising and falling share prices in developed and emerging markets. The fund returned 18.1 percent in 2013 before losing 1.4 percent the following year. In the first 11 months of 2015, the fund was up 0.9 percent, according to data compiled by Bloomberg. — BLOOMBERG NEWS