Valeant, a new business model and now, a new name – the boston globe gas used in ww1

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The MBTA has dropped Santander Bank in favor of Providence-based Citizens Bank to handle the agency’s commercial banking accounts, according to MBTA officials. They say the new three-year contract will generate roughly $3,000 more interest income per day, or roughly $1 million a year. The T expects to finish moving roughly $70 million in deposits over to Citizens by the end of the week. One plus about the new contract: The interest rate on the deposits will rise automatically with the federal funds rate. Ten banks bid on the job, including Santander, T officials said. They also said Citizens’ stronger Community Reinvestment Act rating factored into the decision. A spokeswoman for Santander said the bank, a Boston subsidiary of Spain’s Banco Santander, will still provide lockbox services to the T and is “proud of our longstanding, meaningful relationship with the MBTA, and we look forward to many opportunities to work together in the future.” — JON CHESTO

A former Belmont man from a prominent local family was convicted Tuesday by a federal jury for his role in a decadelong Ponzi scheme that defrauded 15 investors of more than $6 million, according to the US Attorney’’s Office. John William “Jack” Cranney, 76, now of El Paso, was convicted after a two-week trial on three counts of wire fraud, 12 counts of mail fraud, and three counts of money laundering. The mail and wire fraud charges carry a federal prison sentence of up to 20 years, while the money laundering charges carry a sentence of up to 10 years. Cranney was released with an electronic monitoring device while he awaits sentencing scheduled for Aug. 2. Cranney’s travels will be restricted to El Paso County in Texas. Cranney was once a respected figure in Belmont who lived in a $3.8 million home and rubbed elbows with the Romneys, who also lived in the town just northwest of Boston. He made his money as a top distributor of Shaklee Corp. vitamins and nutritional supplements, reportedly earning an estimated $45,000 to $60,000 a month. From 2001 through 2012, Cranney convinced a number of Shaklee associates, family members, old friends, and former employees to invest their savings and transfer their IRA and 401(k) retirement money into a fund and plan he said he managed, but that were actually shell companies, according to federal authorities. Instead, Cranney stole millions of dollars that were entrusted to him and spent them on his own bills and debts to fund his declining health and nutrition products distributorship. In 2012, Cranney’s scheme collapsed after initial investors began demanding a return to their funds and he could not obtain new investment money. He was sued that year by several of his alleged victims, including his own son. — KATHELEEN CONTI

Attorney General Maura Healey made her case to the state Legislature on Tuesday, arguing during a State House committee hearing that lawmakers should completely shut down the industry that markets electricity choices to consumers. Instead of offering savings, Healey said her staff has found that Massachusetts consumers have been collectively paying millions more than if they had stayed with their utilities — overcharges that totaled $176 million over two years. Healey said she is particularly unhappy that people who could least afford the higher utility bills were apparently targeted. No bill has been filed yet, but Healey said she hopes to work with lawmakers to come up with a ban on competitive electricity sales to individuals. The Retail Energy Supply Association fought back with its own study, saying the majority of competitive providers offer lower rates than the utilities, proving consumers can achieve savings if they shop around. — JON CHESTO

The Rhode Island chapter of the American Civil Liberties Union says a proposed rule to ban political or controversial advertising at T.F. Green Airport may violate the First Amendment. The organization said Monday it is strongly opposed to the Rhode Island Airport Corp.’s proposed regulations, which would apply to all airports in the state. The ACLU said the new rules would expand the quasi-public agency’s ability to ban advertising with political positions and religious symbols, among other subjects. The rule would allow the agency to bar anything it does not deem ‘‘family advertising.” — ASSOCIATED PRESS

For Kohl’s Corp., a partnership with Amazon.com Inc. seems to be paying off. Since the launch of an October pilot program to accept Amazon returns in some stores, traffic at participating Chicago Kohl’s stores has been about 8.5 percent higher than others, according to geolocation data analyzed by Gordon Haskett Research Advisors. About 56 percent of those who returned Amazon goods to a Kohl’s location were new Kohl’s shoppers — or they hadn’t visited Kohl’s at least since July 1, according to the study. — BLOOMBERG NEWS

Spotify Technology SA will begin offering audiobooks that document the making of some of the world’s best-known albums, including Bruce Springsteen’s “Born in the USA.” The world’s largest streaming-music service cut a deal with Britain’s Bloomsbury Publishing PLC, whose 33 ⅓ series also documents the backstories behind David Bowie’s “Low” and Metallica’s “Black Album.” The publisher is perhaps best known for releasing the Harry Potter novels, but for now the Spotify deal focuses on books that document popular music rather than J.K. Rowling’s wizarding world. — BLOOMBERG NEWS

US employers advertised 6.6 million open jobs in March, the most on records dating back to December 2000, suggesting businesses want to staff up to meet strong demand. The Labor Department said that job openings rose 7.8 percent in March from 6.1 million in February. Yet overall hiring slipped, while quits increased. The number of open jobs in March matched the number of unemployed. That’s historically unusual: Typically there are more unemployed than openings. — ASSOCIATED PRESS