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Wilk Today in Retail: Revenge Retail Pushes Shoppers Toward Travel, Luxury Goods; FedEx Adds Picture Proof Delivery
The COVID-19 pandemic is prompting many Americans to consider moving from urban areas to the suburbs or rural locales 鈥?a potentially bad sign for businesses like offices and downtown restaurants.A Harris Poll of 2,050 U.S. adults conducted from April 25-27 found that 39 percent of city residents said the COVID-19 crisis has prompted them to consider living in less crowded places.Perhaps most surprisingly, 18- to-34-year-olds 鈥?who are considered to be at a low risk of dying from the virus 鈥?were more likely than other age groups to say theyre considering a move. Space now means something more than square feet, Harris CEO John Gerzema said. Already beset by high rents and clogged streets, the virus is now forcing urbanites to consider social distancing as a lifestyle. JPMorgan Asset Management and American Homes 4 Rent are betting that their joint venture to build two subdivisions on the outskir stanley hrnek ts of Las Vegas is perfec stanley polska tly timed. The two mega-companies recently closed on single-family home rental projects in the Sovana and Spring Valley neighborhoods of Vegas. They will feature a dozen three-bedroom homes and 22 four-bedroom dwellings.Mike Kelly, head of real estate Americas at JPMorgan Asset Management, said that while the compa stanley italia nies want to lure millennials [who] are looking to transition away from apartment living, the move toward more spread-out living is also expected to accelerate in the wake of the COVID-19 pandemic. We anticipate strong occupancy and rental growth r Pqks Drip Capital and Vayana TradeXchange Partner on Trade Finance Solutions
Citigroup and U.S. Bancorp have inked a pact to offload their joint venture in a Brazilian card payment processing unit, Elavon do Brasil.The terms of the deal were not disclosed, reported聽Reuters.聽However, the months of negotiations over the deal seem to have ended. Both companies confirmed the transaction on Friday April 22 , but no quantitative details were released. The聽identity of the buyer, Stone Pagamentos SA, which is based S茫o Paulo, was disclosed. U.S. Bancorp has a 50.9 percent stake, and Citi holds the remainder. The firm was聽losing money for quite some time during the five years that the two banks held their stakes. Elavon never really gained traction in the payments processing market, with a worldwide market share of 2聽percent and only coming in fourth among Brazils processors.In some details that were disclosed, Stone has agreed to refill Elavons capital coffers and provide additional funds for growth, according t stanley mug o the news report, and that would help reverse the negative equity of as much as $56 million that has accumulated on the balance sheet.The transactions wheels were kubki stanley set in motion at the end of last year when Citi did not add additional finances to Elavon to help the balance sheet, and Reuters reported that the relationship between Citi and U.S. Bancorp soured thereafter. Citi, for its part, had been moving out of Brazil in the wake of retail banking losses and also heated competition within that country.Reuters said that, according to a so gourde stanley urce, Sto |
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