Business notebook

Denied: WorldCom Inc.'s former chief executive, Bernard Ebbers, has lost a US Supreme Court bid to overturn his conviction for leading an $11 billion fraud, the largest in the nation's history.

Restating: Cambridge business-process software company Pegasystems Inc. said it is restating financial reports for fiscal 2001 through 2005, and the first half of last year to correct the timing of revenue recognition.

Warning: Advanced Micro Devices Inc. warned that it was unlikely to meet its first-quarter revenue guidance of $1.6 billion to $1.7 billion, the latest in a series of disappointments for investors in the struggling chip maker. Shares fell 23 cents, or 1.6 percent, to $13.95, a 52-week low.

Hefty fund: MPM Capital LP, the largest venture capital firm dedicated to healthcare, has raised $550 million to invest in companies working on treatments for obesity, diabetes, and neurological disorders.

Notes and bonds: The Seminole Tribe of Florida completed its $965 million purchase of the Hard Rock cafes, hotels, casinos, and music memorabilia from The Rank Group PLC through a combination of a bond offering and an equity contribution from the tribe. Sonny Nevaquaya, a Comanche who works at one of the casinos, plays the flute at the signing ceremony.

Ruling: The Federal Communications Commission issued rules making it easier for AT&T Inc. and Verizon Communications Inc. to challenge cable companies, requiring local regulators to decide within 90 days on phone companies' applications to offer TV.

Fair spin: Clear Channel Communications Inc., CBS Radio Inc., Entercom Communications Corp., and Citadel Broadcasting Corp., agreed to pay $12.5 million total to settle a federal investigation into "pay-for-play" practices and will provide thousands of hours of free airtime to local musicians and independent record labels, said sources familiar with the case.

In/out: Vanguard Group pulled in $11.7 billion in net mutual fund deposits in January, the most among US money managers, according to Financial Research Corp. of Boston. Fidelity Investments had $2.9 billion in net flows. Putnam Investments had $1.4 billion in withdrawals as customers have pulled money every month since June 2001.

(Globe wire services)