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Allies of fishermen file suit to reverse Vineyard Wind approval

The Responsible Offshore Development Alliance, an organization aligned with commercial fishing interests, filed a lawsuit in the US Court of Appeals for the First Circuit to overturn the US interior secretary’s July approval of the Vineyard Wind offshore energy project. RODA argues that the approval of Vineyard Wind, which would be built south of Martha’s Vineyard as the country’s first commercial-scale offshore wind farm, adds unacceptable risk to the fishing industry without any adequate effort to minimize the interference with navigation and seafood production. The fishing industry is particularly concerned that the giant turbines would be built too close to each other, creating hazardous navigation conditions during bad weather or turbulent seas. — JON CHESTO



Prime sold to Houston company

Group 1 Automotive, a publicly traded auto dealership group based in Houston, has reached a deal to buy Prime Automotive Group for $880 million from private equity firm GPB Capital Holdings. The Prime group, based in Westwood and employing about 1,800 people, consists of 30 dealerships and 3 collision centers in the New England and Mid-Atlantic regions. The Prime dealerships generated $1.8 billion in revenue last year, and sold more than 52,000 new and used vehicles. Group 1, meanwhile, has 188 dealerships in the United States, the United Kingdom, and Brazil, and reported nearly $10.9 billion in revenue last year. After the 30 Prime dealerships are added to the mix, 43 percent of Group 1′s dealers will be considered luxury dealers. GPB Capital has been divesting pieces of its auto dealership portfolio after state and federal regulators accused GPB and several individuals associated with the firm of running a Ponzi-like scheme by misleading investors in its automotive portfolio and other GPB funds. Founder David Gentile stepped down from the CEO’s job at GPB after federal prosecutors in New York filed criminal fraud charges against him in February. — JON CHESTO



Dutch decision says Uber drivers are covered by labor law

Uber lost another suit over its drivers’ working rights after an Amsterdam court ruled workers who ferry passengers using the Uber app in the Netherlands are covered by a local collective labor law. The legal relationship between Uber and its drivers meets all of the characteristics of an employment contract, the court said in its judgment. Uber must apply the Collective Labor Agreement for Taxi Transport to protect drivers, allowing them in some cases to claim overdue salary. Uber was also ordered to pay the local labor union, FNV, 50,000 euros ($59,000) in compensation for failing to comply with the agreement. Uber said it will appeal the decision. — BLOOMBERG NEWS


Fox revives ‘Cops’

Fox News’ streaming service has picked up “Cops,” the long-running reality show that was canceled last year amid heightened scrutiny of police interactions in Black communities. The show’s 33rd season will premiere on Fox News’ streaming service, Fox Nation, on Oct. 1, Fox Corp.’s cable news channel said Monday. The programming also includes 15 episodes from the prior season. The show, which follows real-life police officers on patrol, became controversial after the killing of George Floyd in May 2020 and after a podcast, “Running From Cops,” delved into some of the program’s more controversial elements. A similar reality show on the A&E channel called “Live PD,” was also canceled last year. “Cops” could find a loyal audience on Fox Nation with viewers who work in or support law enforcement. — BLOOMBERG NEWS



Lack of college degree tied to higher suicide rate

In the United States, a four-year degree is increasingly a “talisman” against deaths related to suicide and economic hardship, according to a new research paper that offers a stark verdict on the current economy. While the suicide rate almost doubled among White non-Hispanics without a bachelor’s degree in the 1992-2019 period to about 31 per 100,000 people, there was almost no increase among those with a degree, economists Anne Case and Angus Deaton wrote in their September paper. COVID-19 likely exacerbated deaths of despair from opioid overdoses — already increasing pre-pandemic — as people grew more isolated and more fentanyl showed up in other drugs. The broader issue, though, is that the US economy and society “are no longer providing the basis for a good life” for the less-educated. — BLOOMBERG NEWS


Bitcoin mining consumes lots of electricity

The Bitcoin network was estimated to consume about 67TWh of electricity in 2020, and its total consumption has already surpassed this in 2021. By the end of this year, it looks set to have used 91TWh of energy — as much as Pakistan. As the price of Bitcoin increases, more miners with less energy-efficient machines join the network, driving up energy use. This means that it is essential to improve the efficiency of crypto-mining and move to low-carbon energy sources for electricity. — BLOOMBERG NEWS


Mastercard sees a booming holiday shopping season

US retail sales are poised to reach a record high this holiday season, according to a forecast from Mastercard SpendingPulse, which projects a sizable jump both from last year and from 2019 — before the pandemic upended consumer behavior. Sales in the period from Nov. 1 through Christmas Eve are seen rising 7.4 percent from 2020 and 11.1 percent from the previous year, according to the study, which didn’t provide a dollar-amount projection. Shoppers are expected to continue relying on e-commerce, with online revenue seen growing 7.6 percent from 2020 and an astronomical 57 percent from the previous year. Luxury, jewelry, and apparel could see the biggest recoveries from last year. — BLOOMBERG NEWS



Company linked to Bannon settles with SEC for $539 million

A media firm linked to Steve Bannon and exiled Chinese businessman Guo Wengui was among companies that agreed to pay more than $539 million to settle a US regulator’s allegations that the businesses illegally sold shares. GTV Media Group Inc., which has ties to Bannon and Wengui, sold shares without registering the offering, the US Securities and Exchange Commission said in a Monday statement. The companies separately participated in an unregistered sale of a digital asset security referred to as either G-Coins or G-Dollars. The two offerings raised approximately $487 million from more than 5,000 investors, including US residents, the SEC said. Neither Bannon nor Wengui were named in the SEC case, and the companies didn’t admit or deny wrongdoing. — BLOOMBERG NEWS


Disney says the rest of its 2021 releases will run in theaters first

Walt Disney Co. gave theater owners some much-needed good news: The rest of its 2021 film releases will get exclusive runs in cinemas before becoming available for home viewing. One of the biggest will be ‘’Eternals,’’ a new Marvel superhero movie from Oscar-winning director Chloe Zhao that’s scheduled for release on Nov. 5. It’s one of six films planned for the balance of the year, Disney said Friday. The studio scored a recent hit with another new Marvel feature, ‘’Shang-Chi and the Legend of the Ten Rings,’’ and that was a factor in its decision to give the rest of its 2021 movies exclusive theatrical runs. — BLOOMBERG NEWS