HORSE RACING
Hardwick selectmen reject track plan
Hardwick’s three-member board of selectmen last week unanimously voted against a plan to build a horse track in the town, putting the brakes on an effort led by developer Richard Fields to revive thoroughbred racing in Massachusetts. Fields had teamed up with horse breeder Robin Kalaidjian to build a milelong turf track in Hardwick, about 25 miles west of Worcester, under the name Commonwealth Equine and Agricultural Center. The track and grandstand would have gone up at the 360-acre Great Meadowbrook Farm. Fields has been hoping to capitalize on the state’s new sports-betting law, which allows a racetrack to open a sports betting facility on the premises. Fields had pledged to hold only a limited number of race festival days each year at the Hardwick site, and to bring at least $500,000 in new taxes every year to the town. But a number of residents raised concerns about the potential traffic and the impact to the farming town’s rural character. Fields is perhaps best known in Massachusetts for his investment in Suffolk Downs and his efforts to land a resort casino license that could subsidize horse racing at that site; Fields needed to look elsewhere after Wynn Resorts won the sole casino license for Greater Boston, prompting Suffolk Downs to be sold for redevelopment. — JON CHESTO
AIRLINES
United pilots reject contract
United Airlines pilots rejected a new labor agreement with the carrier, saying it falls short of the “industry-leading contract United pilots have earned and deserve.” About 94 percent of the 9,980 aviators casting ballots voted against the proposal, the Air Line Pilots Association said in a statement Tuesday. A prior vote was halted in July amid pilot objections to some terms, including a nearly 14.7 percent pay increase over 18 months. United and the union later reopened negotiations on that tentative agreement, which was rejected Tuesday. The union, which represents about 14,000 pilots, plans to organize informational picketing across the airline’s network in response to what it says is United’s “wait and see approach” to negotiations and proposals on pay and other issues. All four of the largest US airlines are negotiating new contracts with their pilots, and the first to cement a deal will set the standard for others to match or top. — BLOOMBERG NEWS
STREAMING
Disney+ to offer shopping
Can shopping make Disney+ even more of a must-have streaming service? The Walt Disney Co. announced Tuesday that it would begin a “limited test” to determine the viability of selling themed merchandise alongside certain Disney+ shows and films. Until Nov. 8, Disney+ subscribers will have exclusive access to a smattering of new products tied to franchises such as “Star Wars,” “Black Panther,” and “Frozen.” The items include light saber collectibles ($250 to $400) and themed clothing ($27 to $100) that will go on sale in regular retail stores next week. The shopping option is available only on Disney+ profiles in the United States that have been verified as belonging to users who are 18 and older. — NEW YORK TIMES
RETAIL
Victoria’s Secret to buy startup
Victoria’s Secret & Co. said Tuesday it has signed a definitive agreement to acquire Adore Me Inc., a lingerie startup known for its wide array of sizes, for $400 million in cash. The move comes as Victoria’s Secret aims to become more inclusive and diversify beyond its sexy image of thongs and other come-hither lingerie. — ASSOCIATED PRESS
RIDE HAILING
Uber rides are up as pandemic slump eases
Uber on Tuesday reported revenue growth exceeding expectations from Wall Street, suggesting that the company has continued to recover from a pandemic slump as drivers return to the platform. But it posted a net loss, in part because of its investments in other ride-hailing companies. Revenue was $8.34 billion for the third quarter, a 72 percent increase from a year earlier. Uber’s ride-hailing business grew 73 percent, while its delivery business grew 24 percent. Wall Street analysts had predicted revenue of $8.12 billion and a net loss of $361 million. The company said 124 million people used Uber monthly from July through September, up 14 percent from a year earlier. They accounted for a combined 1.95 billion trips, up 19 percent from a year earlier. — NEW YORK TIMES
ENERGY
BP earnings soar, talk of windfall tax gets louder
BP’s earnings more than doubled in the third quarter as the London-based energy giant benefited from high oil and natural gas prices following Russia’s invasion of Ukraine. Underlying replacement cost profit, which excludes one-time items and fluctuations in the value of inventories, jumped to $8.15 billion from $3.32 billion in the same period last year, BP said Tuesday. The company also announced plans to reward shareholders, buying back another $2.5 billion of stock. Soaring earnings at British energy companies are fueling calls for the government to expand a tax on their windfall profits as Prime Minister Rishi Sunak struggles to close an estimated 40 billion-pound ($46 billion) hole in the budget. BP rival Shell last week said third-quarter earnings more than doubled to $9.45 billion. President Biden also has floated the possibility of a windfall tax if energy companies don’t boost domestic production, accusing them Monday of “war profiteering.” — ASSOCIATED PRESS
AUTOMOTIVE
Toyota profit falls as chip shortage lingers
Toyota said Tuesday that its profit fell 31 percent in the last quarter as a shortage of computer chips offset foreign exchange gains from a weaker yen. Toyota’s quarterly profit through September totaled 434 billion yen, or $2.9 billion, down from nearly 627 billion yen a year earlier. The maker of the Camry sedan, Prius hybrid, and Lexus luxury models said it faces many challenges, including rising interest rates, soaring materials costs, and fluctuating exchange rates. A shortage in semiconductors, coronavirus lockdowns in Shanghai, and flooding in South Africa also bit into earnings. — ASSOCIATED PRESS
STREAMING
Amazon Music to offer more than 100 million songs
Amazon Music is gearing up for a massive content expansion: The streaming giant will offer a full catalog of music with more than 100 million songs for members. The streaming service said that members will gain hundreds of millions of songs — a huge increase from 2 million — in shuffle mode without any advertisement at no additional costs. It will also include most top podcasts ad-free including Wondery’s catalog of premium shows. — ASSOCIATED PRESS
PHARMACEUTICALS
Pfizer’s COVID treatment boosts bottom line
Pfizer’s COVID-19 treatment helped the pharmaceutical giant balance tumbling international sales for its coronavirus vaccine and top third-quarter expectations. The pill treatment Paxlovid brought in $7.5 billion in sales in the quarter and has generated more than $17 billion so far this year. Sales from the vaccine Comirnaty, meanwhile, tumbled 66 percent to $4.4 billion in the quarter, mainly due to changes in a European Commission supply agreement that pushed dose deliveries into the fourth quarter. Sales also were hurt by slow demand in emerging markets. But vaccine sales jumped in the United States after regulators approved a new booster dose and expanded access to children as young as 6 months old. — ASSOCIATED PRESS