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Two Falmouth nonprofits get almost $4 million in federal funding

Two Falmouth nonprofits have landed nearly $4 million in federal funding to help conduct research that could support the development of offshore wind farms, through wildlife and fisheries monitoring. The US Department of Energy announced a $3.3 million grant for the Coonamessett Farm Foundation and its research partners to survey changes in commercial fish and invertebrate populations and seafood habitats at an unspecified offshore wind development site. Meanwhile, the Woods Hole Oceanographic Institution was awarded $750,000 to develop robotic technology for environmental monitoring at potential wind energy development areas on the West Coast. — JON CHESTO


Ikea expects shortages to last until the middle of 2022

Swedish home-furnishings giant Ikea gave a bleak outlook for the retail industry, saying it expects shortages from the supply-chain crisis to remain an issue through the middle of next year. ‘’The biggest challenge has been getting products out of China, where there has been a very limited capacity,’’ chief executive Jon Abrahamsson Ring of Inter Ikea, the worldwide franchiser for the brand, said in an interview. — BLOOMBERG NEWS



Nintendo’s new console has a disappointing debut at home

Nintendo’s pricier new Switch console made a weak debut at home in Japan despite pre-orders selling out in a matter of minutes everywhere in the nation, a surprising result likely due to low-level supply stemming from component shortages. The hybrid handheld’s OLED edition, released globally on Friday for $350, sold 138,409 units in the domestic market over its launch weekend, sales tracker Famitsu said Thursday. That compares with the original Switch’s inaugural weekend sales of 330,637 units in 2017 and the Switch Lite’s 177,936 units in 2019. — BLOOMBERG NEWS


Amex Platinum card for businesses adds new perks — for a price

American Express is adding rewards to its Platinum card for business owners as competition for new customers heats up. The credit card giant added a bevy of perks including extra points for spending on items like cloud services, construction materials, and shipping providers, according to a statement Thursday. The firm is also adding a monthly statement credit for up to $10 on spending with wireless telephone providers. AmEx is the country’s largest provider of small-business cards. The company, long known for cards that offer perks tied to spending on travel and dining, has been remixing rewards in recent months to capture the different kinds of spending happening during the pandemic. With the latest changes, AmEx will raise the annual fee on the Platinum card to $695, the same level as the Platinum card for consumers. — BLOOMBERG NEWS



Europe’s data centers to use lots of electricity by decade’s end

Europe’s data center industry will use much more electricity by the end of this decade, accounting for about a quarter of total power consumption in Ireland alone, according to BloombergNEF. The region’s transition to a digital economy will need more megacenters to store and process vast amounts of data, requiring extra electricity to run and keep computers from overheating. That means power demand at the sites in the key markets of Germany, the Netherlands, UK, Norway, and Ireland should jump about 80 percent to almost 48 terrawatt-hours by 2030, BloombergNEF said. — BLOOMBERG NEWS


Say hello to the McPlant burger

McDonald’s will start testing its McPlant burger, which features a patty developed with Beyond Meat, in the United States next month. The test will begin on Nov. 3 in eight locations in Texas, Iowa, Louisiana, and California, McDonald’s said in an e-mailed statement. The sandwich, which features a plant-based burger patty, will come with cheese and mayonnaise and be cooked on the same grill as meat-based products and eggs, and therefore not be vegan. — BLOOMBERG NEWS



Walgreens to expand medical practices in stores

Walgreens Boots Alliance invested $5.2 billion in primary care provider VillageMD, doubling its stake in the company to 63 percent. The deal will increase the number of primary-care practices located at Walgreens chain stores to more than 600 in 30 US markets, the companies said in a statement. That number will rise to 1,000 by 2027, with more than half the practices located in underserved communities, the companies said. — BLOOMBERG NEWS


Rates are on the rise again

After a brief retreat last week, mortgage rates resumed their ascent. According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average climbed to 3.05 percent. It was 2.99 percent a week ago and 2.81 percent a year ago. The 15-year fixed-rate average jumped to 2.3 percent. It was 2.23 percent a week ago and 2.35 percent a year ago. — WASHINGTON POST


Indian drug maker recalls blood pressure pills

A unit of Indian drug maker, Lupin Ltd., issued a voluntary US-wide recall for some batches of two blood pressure pills over concerns about potentially carcinogenic impurities. Lupin Pharmaceuticals Inc. issued a recall for Irbesartan tablets and Irbesartan and Hydrochlorothiazide tablets after its analysis revealed that some batches of these drugs had more than permitted levels of N-nitrosoirbesartan, a probable carcinogen, the company said in a statement to exchanges. Sanofi also recalled certain drugs containing Irbesartan in Canada in June for elevated levels of azido impurities, which are mutagenic — meaning they can change someone’s DNA and potentially increase cancer risk. It sold some of those same drugs in the United States. Lupin’s drug recall comes after millions of blood pressure pills have been pulled off shelves by various drugmakers in the past three years for containing another probable carcinogenic chemical called N-Nitrosodimethylamine. — BLOOMBERG NEWS



United expands into Europe, betting on travel rebound next summer

United Airlines is planning its largest expansion into Europe, anticipating a surge of pent-up demand following two years of weak bookings because of the coronavirus pandemic. The significant trans-Atlantic capacity increase reflects the airline’s expectation that next summer will deliver record traffic. Among the new routes, United is adding five destinations starting in May and June: Amman, Jordan; Bergen, Norway; Azores, Portugal; Palma de Mallorca, Spain; and Tenerife in the Canary Islands. None of those locations is served by North American carriers, United said. — BLOOMBERG NEWS


Domino’s can’t find cooks or delivery people

Domino’s can’t get enough people to cook and deliver pizzas, hurting sales in the company’s mostrecent quarter. “Our US order counts during third quarter were pressured by a very challenging staffing environment,” Treasurer JessicaParrish said Thursday on a conference call to discuss earnings results. A lack of workers meant some stores were forced to shorten hours, while others had customer-service challenges, she added. — BLOOMBERG NEWS


Four large banks see healthy profits

Four of the largest US banks said their profits grew by double-digits last quarter, as a healthier US economy has allowed banks to have fewer bad loans and charge-offs. But the results for Citigroup, Bank of America, Wells Fargo, and Morgan Stanley benefitted from one-time boosts to their profits, and low interest rates remain a significant headwind for Wall Street’s financial titans. — ASSOCIATED PRESS