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Big American shopping mall merger

The biggest US shopping mall ownerr Simon Property will buy rival Taubman for $3.6bn

The biggest US shopping mall operator Simon Property has bought out its rival Taubman for $3.6bn. The Taubmann family which built the business over the last 70 years will continue to own 20% of the company, but the take-over is a sign of the times - with consolidation driving economies of scale and savings in the face of online shopping and declining profits among their tenants. However the idea of a take-over has been around for a while, as Richard Hyman, retail analyst with RHA Advisory explains.

In Ireland counting votes in the general election continues and so far more than three-quarters of the seats have been filled. But it's been a breakthrough for Sinn Fein which for the first time in recent history is challenging the power of the established parties Fine Gael and Fianna Faile. Although no one party has taken enough votes for an outright majority, at this stage Sinn Fein, has achieved almost 25% of the vote. The Βι¶ΉΤΌΕΔ's Russell Padmore, who has just returned from Ireland, explains the significance of the new political landscape.

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(Picture: A store in an American shopping mall. Credit: Getty Images.)

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27 minutes

Last on

Mon 10 Feb 2020 22:32GMT

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  • Mon 10 Feb 2020 22:32GMT