Custom post type permalinks non working on 4.0

When I updated to WordPress v4.0 it removed all of my custom post type permalinks and replaced them with “/”. I have 2 custom post types: “Business” and “Coupon”. The permalink settings for Business are “/%business_cat%/%postname%/” and for Coupon “/coupon/%postname%/”.

Permission for the .htaccess file are “644” and the file contains the following rewrite coding:

RewriteRule ^files/(.+) wp-includes/ms-files.php?file=$1 [L]

RewriteRule ^([_0-9a-zA-Z-]+/)?wp-admin$ $1wp-admin/ [R=301,L]

RewriteCond %{REQUEST_FILENAME} -f [OR]
RewriteCond %{REQUEST_FILENAME} -d
RewriteRule ^ – [L]
RewriteRule ^([_0-9a-zA-Z-]+/)?(wp-(content|admin|includes).*) $2 [L]
RewriteRule ^([_0-9a-zA-Z-]+/)?(.*\.php)$ $2 [L]
RewriteRule . index.php [L]

This is a huge problem that I need to resolve asap.