Boston Celtics’ home takes on new name

The FleetCenter has a new name: TD Banknorth Garden.

The bank reached a 20-year deal with arena owner Delaware North Cos. to put its name on the home of the Boston Celtics and Boston Bruins, the companies announced Thursday. Published reports put the deal’s cost at $5 million to $6 million a year; at least $13 million will go toward neighborhood and arena improvements.

The new name officially takes effect July 1.

The center — above, with former Kansas University star Paul Pierce taking the court for the Boston Celtics — opened in 1995.

Real estate

Mortgage rates up

Rates on 30-year mortgages climbed for a third straight week, pushing the level to the highest point this year.

Freddie Mac’s weekly survey, released Thursday, showed that rates on 30-year, fixed rate mortgages averaged 5.79 percent for the week ending March 1, up from 5.69 percent last week.

Rates now stand at the highest level since 30-year mortgages averaged 5.81 percent during the last week of 2004.

Meatpacker

Investment firm buys Creekstone Farms

A Kansas meatpacker that was thwarted in its efforts to test all of its cattle for mad cow disease has been purchased by a private investment company.

Sun Capital Partners Inc. announced Wednesday that its subsidiary, Creekstone Holding Corp., had acquired majority interest in Creekstone Farms Premium Beef in Arkansas City.

Creekstone Farms laid off 150 workers in December after the U.S. Department of Agriculture refused to let it test all of its stock for mad cow. Creekstone had argued that Japan would open its markets to U.S. beef if comprehensive testing was allowed.

Creekstone employs about 650 people at its Arkansas City plant.

Economy

Productivity on rise

The productivity of American workers rose at an annual rate of 2.1 percent in the final three months of last year, the Labor Department reported Thursday.

The better-than-expected 2.1 percent revised estimate for productivity left the indicator for all of 2004 rising by 4 percent, the department said, capping the strongest three-year period for productivity growth in more than a half-century of record keeping.