Building starts at former Revere tank farm - The Boston Globe

DEVELOPMENT

Construction has started on the first phase of the Trident Logistics Center, a 635,000-square-foot warehouse complex going up off Route 1A in Revere at the site of an oil tank farm near the Boston line. General contractor Gilbane Building Co. hopes to complete construction on the first phase, a 367,000-square-foot warehouse, by late next year. Link Logistics, an affiliate of the Blackstone investment firm, acquired the 44-acre site from Waltham-based fuel company Global Partners for $150 million in 2022 and is developing two warehouses there along with partner Saracen Properties. The Trident center is expected to bring hundreds of new jobs to Revere. — JON CHESTO

SEMICONDUCTORS

The Biden administration finalized rules for a 25 percent tax credit for semiconductor manufacturing projects, expanding eligibility for what is likely to be the largest incentive program from the 2022 Chips and Science Act. The new regulations, which come more than a year after the initial proposed rules, mean that a wider swath of companies will be able to get the tax breaks. That includes businesses that produce the wafers that are ultimately turned into semiconductors, as well as manufacturers of chips and chipmaking equipment. The credits also will apply to solar wafers — an unexpected shift that could help spur domestic production of panel components. So far, the United States has struggled to foster manufacturing of those parts, despite a surge of investment in US panel-making factories. — BLOOMBERG NEWS

TOBACCO

Philip Morris forecast higher-than-expected profit this year, citing soaring demand for its Zyn nicotine pouches in the United States. PMI, which also makes brands such as Marlboro cigarettes, said adjusted diluted earnings per share will now grow as much as 15 percent for the full year, excluding currency movements, up from 13 percent previously. Zyn pouches, which contain nicotine and are taken orally by stuffing them under the upper lip, rose 41 percent alone during the third quarter in the United States, the company said Tuesday. — BLOOMBERG NEWS

RETAIL

Walmart will start delivering prescriptions to US homes in as little as 30 minutes, a move that’s intended to grab a bigger slice of online spending and compete against Amazon. Walmart said the service includes new prescriptions and medication refills, which consumers can receive in the same order as groceries and other products. Prescription delivery will be available in 49 states by the end of January, with coverage of more than 86 percent of US households. — BLOOMBERG NEWS

Hollywood filmmaker Alcon Entertainment is suing Elon Musk, saying Tesla used imagery inspired by the 2017 movie Blade Runner 2049 at a recent event even after permission was denied. The production company, which has also financed and produced films such as “The Blind Side,” filed a lawsuit accusing Musk of copyright infringement, saying it specifically declined to grant permission to use the images. Alcon also alleges Tesla didn’t reach out for permission until the day of the event, which was held on Oct. 10. Musk, Tesla, and Warner Brothers Discovery Inc., which hosted the event in a studio lot, are listed as defendants. — BLOOMBERG NEWS

FAST FOOD

Chipotle is rolling out an artificial intelligence assistant that the chain hopes will cut the time it takes to hire workers by as much as 75 percent. The virtual recruiter, known as Ava Cado, will be available at the chain’s more than 3,500 restaurants in North America and Europe by the end of the month, the company announced Tuesday. The fall is Chipotle’s second busiest recruiting period of the year, following the March-to-May sales sprint it calls “burrito season.” The company said Ava will collect applicants’ information, answer their questions about the company, book meetings, and send offers to candidates selected by humans. The goal is to take those administrative tasks off managers’ to-do lists so they can focus on running the restaurants. — BLOOMBERG NEWS

ATHLETIC WEAR

Lululemon has entered an arrangement with sports merchandiser Fanatics Inc. and the National Hockey League to design and develop fan apparel. The new Lululemon clothes will feature 11 of the NHL’s 32 teams this season, including the New York Rangers, Boston Bruins, Toronto Maple Leafs, and Vancouver Canucks, with plans to expand to all the league’s franchises next year. The men’s and women’s collections include products such as hoodies, jackets, pants, and belt bags, and will be available in local markets on Oct. 29. — BLOOMBERG NEWS

AUTOMOTIVE

Honda is recalling more than 700,000 vehicles because the high-pressure fuel pump may crack and leak fuel, which could increase the risk of a fire. It is the second major call this month at Honda, after 1.7 million vehicles were found to have potential steering issues in early October. The recall includes the Accord and Accord Hybrid 2023-2024, the Civic and Civic Hybrid 2025, and the CR-V Hybrid 2023-2025. Honda said that it has had 145 warranty claims, and no reports of injuries or deaths related to the issue from February 2023 through September 2024. The automaker said that dealers will inspect and replace the high-pressure fuel pump as necessary and for free. Owner notification letters are expected to be mailed Dec. 4. Owners may contact Honda customer service at 1-888-234-2138. — ASSOCIATED PRESS

TRANSPORTATION

Federal regulators gave a strong push to electric-powered air taxis Wednesday by issuing a final rule for operating the aircraft and how pilots will be trained to fly them. The head of the Federal Aviation Administration, Mike Whitaker, said the rule recognizes air taxis as an entirely new type of aircraft that will soon join airplanes and helicopters in the sky. These aircraft take off and land vertically, like helicopters, but fly like fixed-wing planes. Many companies are working to get them on the market, but they have been held back by the lack of clarity over regulations to govern their use. — ASSOCIATED PRESS

FINANCE

Fidelity International plans to cut about 500 jobs at a China-based global technology and support center as it expands efforts to trim costs, according to people with knowledge of the matter. The asset manager will cut the positions at its technology and operational support center in Dalian, a city in northeastern Liaoning province, the people said, asking not to be identified discussing private information. A smaller number of new jobs will also be added, the people said. The reductions add to Fidelity’s earlier plans to shed about 1,000 jobs worldwide this year as it adjusts to a more challenging environment facing the asset management industry. — BLOOMBERG NEWS

FAST FOOD

E. coli food poisoning linked to McDonald’s Quarter Pounder hamburgers has sickened at least 49 people in 10 states, including one person who died and 10 who were hospitalized, federal health officials said Tuesday. The death was reported in an older person in Colorado, and one child has been hospitalized with severe kidney complications, the US Centers for Disease Control and Prevention reported. Infections were reported between Sept. 27 and Oct. 11, in Colorado, Iowa, Kansas, Missouri, Montana, Nebraska, Oregon, Utah, Wisconsin, and Wyoming. Colorado has the most cases, 27, followed by Nebraska with nine. — ASSOCIATED PRESS

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Building starts at former Revere tank farm - The Boston Globe