Loyal customers of Starwood Hotels & Resorts are sad as Marriott International is buying Starwood. Though every luxurious hotel has a loyalty program, it cannot beat Starwood Preferred Guest. It is said that Starwood Hotels & Resorts literally pampers its most frequent customers.
On Wednesday, shares of Target Corp. fell down by 4.3% to $69.78 due to drop in sales of the company’s apparels. The statistical figures released shows that the sales at the existing Target Stores increased by 1.9% in the third quarter. Experts found drop in the growth rates for both sales and store traffic when compared with the previous quarter.
A new deal between the University of Michigan, the state of Michigan and more than four dozen global industry leaders resulted in opening of Mcity. On Friday Nov. 13, the public-private partnership project was announced as the 2015 Ann Arbor News Company of the Year at the newspaper's annual Deals of the Year Ceremony. The new Mcity is a 32-acre acre simulated urban and suburban automated and connected vehicle test site on the Ann Arbor school's North Campus.
Bruce B. Dayton, the owner of retailing empire including department stores, some of the nation’s first enclosed shopping malls and the Target discount chain died at the age of 97 on Friday at his home in Orono, Minn., near Minneapolis. Mark Dayton, Son of Bruce B. Dayton and the governor of Minnesota and a former United States senator, confirmed his death.
Haggen, the bankrupt grocery chain, has finally found buyer for its 91 out of 164 stores. Three of its stores will be acquired by the American grocery company Albertsons, the grocer confirmed in a statement on Friday.
The three stores that Albertsons will acquire are on McCulloch Boulevard in Lake Havasu City and on East Broadway Road and North Silverbell Road in Tucson. Stores of Haggen in Flagstaff, Prescott, Prescott Valley, Anthem, including site in Tucson and in Scottsdale so far have received no bids.
The city received over $1.8 billion by investors to lease the Chicago Skyway for 99 years, and 10 years after that the sale of the rights to run the privatized highway and collect tolls have been done for $1 billion more than the actual price.
On Friday, a consortium of 3 main Canadian pension plans made an announcement that it has decided to fork over $2.8 billion to take over the company, holding the deal to run the Skyway until 2104.
US retail sales mounted less than expectations last month amid an unexpected drop in automobile purchases, which suggested a slowdown in spending by consumers, apparently temper expectations of a strong pickup in Q4 economic growth.
Friday’s data has shown a second straight monthly fall in producer prices as the cost of services has dropped. Economists said that still the soft inflation and signs of slowing consumer spending will possibly not be able to deter the Federal Reserve from increasing interest rates in the coming month.
In a statement released on Saturday, Nissan Motor Co. said that it will stop fitting its future vehicles with air bag inflators manufactured by Japan-based auto parts supplier Takata Corp.
In its statement, Nissan said that it has “decided to no longer use (Takata's) inflators containing ammonium nitrate in airbags for future models,” and added: "We will continue to put our customers' safety first and work to replace the inflators in vehicles under recall as quickly as possible."
According to recent reports, beleaguered German automaker Volkswagen (VW) will apparently announce a new sales initiative in the US this week, in an evident effort to win back the trust of disappointed VW customers and dealers after the company’s recent emissions-cheating scandal.
In an indication of VW’s imminent effort to rebuild trust after the scandal, the company’s field representatives have – over the last few days – been holding a number of briefings about a new initiative, aimed at showing some goodwill to VW customers in the US.
The United Auto Workers (UAW) Union signed a tentative contract agreement with Ford covering 53,000 workers at 22 U.S. plants. It has been reported that the deal between the UAW and Ford has been signed on the same day when General Motors workers voted in favor of the similar four-year deal. The Union repotted that 55.4% of the GM workers including 58% of the production workers voted in favor of the same four-year deal.
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