Boston-based The Fallon Co. to redevelop part of Nashville riverfront

RECALL

Trader Joe’s has issued a recall of fresh basil sold to customers in 29 states and D.C. over a two-month period after federal investigators found a link between the herb and a multistate outbreak of salmonella. The grocery chain has voluntarily removed the product from its shelves and is warning customers to throw away or turn into the store any 2.5-ounce plastic clamshell packages bearing a label reading Infinite Herbs Organic Basil if they purchased them between Feb. 1 and April 6. The potentially tainted goods were sold to customers in Washington, D.C., as well as Alabama, Connecticut, Delaware, Florida, Georgia, Iowa, Illinois, Indiana, Kansas, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nebraska, New Hampshire, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Vermont, Virginia, and Wisconsin. — WASHINGTON POST

AUTOMOTIVE

Toyota’s latest version of its Camry model offers many of the same features that have made it the best-selling sedan in the United States for the past 22 years, with one important difference — it’s no longer available with a gas-only engine. The new Camry, which will start arriving in dealerships this spring, is ditching its longstanding workhorse V-6 in favor of a four-cylinder engine paired with an electric motor, the Japanese automaker said Thursday. That standard hybrid powertrain gets as much as a combined 51 miles per gallon of gasoline for the base model, which is one mile less than the current generation Camry hybrid but significantly better than the gas-only version’s 32 miles per gallon. While overall demand for passenger cars has fallen in recent years as more Americans switch to crossovers, SUVs, and trucks, Toyota has found success in sticking with stalwart sedans such as the Camry and smaller Corolla compact. Last year, it sold 290,649 Camry models in the United States — second only to its RAV4 compact SUV — but only 35,445 of those were hybrids. — BLOOMBERG NEWS

MORTGAGES

Prospective homebuyers are facing higher costs to finance a home with the average long-term US mortgage rate moving above 7 percent this week to its highest level in nearly five months. The average rate on a 30-year mortgage rose to 7.1 percent from 6.88 percent last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.39 percent. — ASSOCIATED PRESS

COFFEE

Booming sales of cold drinks at Starbucks have created a problem: growing amounts of plastic waste from the single-use cups that Frappuccinos, Refreshers, cold brews, and other iced drinks are served in. The coffee giant said Thursday it plans to alleviate some of that waste with new disposable cups that contain up to 20 percent less plastic. The cups are set to be rolled out to stores in the United States and Canada starting this month. Amelia Landers, Starbucks’ vice president of product innovation, said the Seattle-based company spent the last four years developing the new containers. Engineers tested thousands of iterations to see how much plastic they could remove while still making the cup feel sturdy. — ASSOCIATED PRESS

LABOR

Thousands of workers at a big Mercedes-Benz factory near Tuscaloosa, Ala., will vote next month on whether they want to be represented by the United Auto Workers union. The National Labor Relations Board said Thursday that the vote will take place from May 13 to May 17 at the facilities in Vance and Woodstock, Ala. Votes will be counted by the agency on May 17. The vote will be the second in the union’s drive to organize 150,000 workers at more than a dozen nonunion auto manufacturing plants largely in Southern states. About 4,300 workers at Volkswagen’s factory in Chattanooga, Tenn., are voting on union representation this week, with the vote tally to be announced on Friday. — ASSOCIATED PRESS

AIRLINES

Alaska Air expects second-quarter profits will top analyst estimates, signaling that the carrier is recovering from a near-catastrophe on one of its planes that triggered the temporary grounding of a key Boeing aircraft model. Adjusted earnings will be $2.20 to $2.40 a share in the current period, backed by a surge in travel by tech companies and increased demand for premium tickets, the carrier said in a statement Thursday. That’s ahead of the $2.12 average of analyst estimates compiled by Bloomberg. The upbeat outlook suggests the carrier is bouncing back after regulators temporarily grounded Boeing’s 737 Max 9 after a fuselage panel blew off one of the planes during an Alaska flight on Jan. 5. — BLOOMBERG NEWS

CHIPS

A gauge of global chip stocks and AI bellwether Nvidia have fallen together into a technical correction, showing moderation in the global equity market’s most conspicuous driver over the past year and a half. The Philadelphia Semiconductor Index and Nvidia dropped more than 3 percent each Wednesday, pushing them down more than 10 percent from record-high levels reached in March. In addition to concerns of the rallies becoming overheated, the sector has been hit by concerns over pushed-back Federal Reserve interest rate cuts and China’s weak economy. — BLOOMBERG NEWS

CELLPHONES

Huawei released its latest series of smartphones on Thursday, sustaining its momentum after the breakthrough Mate 60 device helped erode Apple’s dominance in China’s high-end segment. The Pura 70 smartphone series starts at 5,499 yuan ($760) and scales all the way to 9,999 yuan for an Ultra edition, which matches the price tag on some iPhone 15 models The device, unfurled with little marketing via a post on WeChat, shot to the top of social media trending lists shortly after its introduction. The Ultra model sports a retractable camera with an adjustable aperture — a rarity in consumer phones. — BLOOMBERG NEWS