For those of you who enjoyed a long weekend with the President’s Day holiday, welcome back! To liven up your week, our PR professionals have identified business headlines in the industries we follow the most. In the spirit of the Olympic Games, we’ve highlighted our gold, silver and bronze medals which happen to be from real estate, retail and markets. Happy reading!
Real Estate: The world’s largest shopping-mall operator, Simon Property, announced today an offer to acquire one of its top rivals, General Growth Properties Inc., for $10 billion. If successful, the deal would potentially create the largest U.S. owner of high-end malls. According to reports, General Growth Properties is also in negotiations with Brookfield Asset Management about the possibility of funding to support an emergence from bankruptcy-court protection. The decision will be left up to General Growth’s board, with final say coming from the company’s creditors and the bankruptcy judge. To read more, click here.
Retail: The Container Store sent its employees a “hug” on Valentine’s Day with the launch of its inaugural “National We Love Our Employees Day.” Kip Tindell, Chairman and CEO, noted that the initiative was started to recognize employees and thank them for all their hard work, especially during the recession. According to the press release, “employees will be treated to special celebrations and recognition at the retailer’s stores, home office and distribution center” throughout the week. Read more at Retail’s Big Blog.
Markets: All eyes are looking internationally this week, specifically towards Greece, as the U.S. markets wait to see if the meeting of Europe’s finance ministers will produce a package that will ultimately bail out Greece and its fiscal crisis. The debt problems of Greece have shaken the confidence in the 16-country currency union, pushing the euro to a nine-month low against the dollar. While a bailout deal is still uncertain and no one knows exactly what it might look like, what, if any, role will the major European banks be asked to play? To learn more about Greece’s debt problems and what it means globally, click here.
What will YOU be looking out for in business news this week?
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