Short call: Wall Street trader Eric Yip is betting shopping malls will collapse
Eric Yip spent his childhood working in his parents’ store at a shopping mall in a small New Jersey town. The family sold homewares and T-shirts from the Burlington Center.
In the early 1980s, the 103,000 sq ft retail complex had more than 100 stores and was the heart of the community, credited with creating a development boom in the town.
Today, though, just a handful of shops remain and it is virtually silent.
Chris Fraser, Managing Director and Chief Executive Officer, said:
“This is another important milestone for the Company as we fulfil our commitment to move to the Main Market. The delivery of our Woodsmith Mine and associated infrastructure continues to proceed in a timely fashion and we look forward to providing further updates in due course.”
In the company’s first 10 years, Mark Zuckerberg transformed Facebook from a college side-project into a multi-billion dollar platform.
Along the way, Zuckerberg was given many opportunities to exit. He was offered $75 million from Viacom in the very early days, and then $1.5 billion later on (including $800 million cash up front). Yahoo also missed out on making a deal after having its $1 billion offer rejected in 2006.
Welcome to Steve Shares. This publication is an interactive weekly update on what’s happening over social media and the trending stocks that have made the news this week. I highlight and comment on the coming news and events in connection with the trending stocks. I provide a round up of Share Talk’s key company interviews over the last week. If you think that a certain share or a key news item should be reported on be in the next edition, let me know by contacting me. My details are at the bottom of the page…
With a bit of flexibility, forward-thinking and cooperation with fintechs, long-established financial services show there’s life in the old dogs yet. With so many hot new fintech kids on the block, these days, staying ahead in financial services means a bit of ‘Keeping Up with the Card-cash-ians’. Yes, the new breed of banking and finance is informal, mobile and totes millennial-friendly.
The trade body representing medicines manufacturers has called on the next government to bring the UK’s current healthcare spending of 9.9% of GDP into line with the G7 average of 11.3%, in order to help the NHS become one of the best health services in the world.
Apple plans to one day stop mining the earth for rare minerals and metals and start using 100 percent recycled materials for its products. The tech titan made the announcement Wednesday, just ahead of the annual Earth Day celebration Thursday, in its 2017 Environment Responsibility Report. The chief reason cited for the shift is the affect electronics manufacturing is having on the planet.
BP today announced that it has agreed to sell its 50% stake in the Shanghai SECCO Petrochemical Company Limited (SECCO) to Gaoqiao Petrochemical Co Ltd, a 100% subsidiary of China Petroleum & Chemical Corporation (Sinopec), BP’s joint venture partner, for a total consideration of $1.68 billion.
Triple-listed Coal of Africa Limited (CoAL) is making good progress in re-entering the market as a coal producer, CEO David Brown said in a quarterly update to shareholders on Friday. The company earlier this month announced that it would buy Pan African Resources’ Pan African Resources Coal Holdings subsidiary, which holds a 91% stake in the Uitkomst colliery, in KwaZulu-Natal, for R275-million. The acquisition is considered complementary to CoAL’s developing Makhado project.
Watch Steve Larratt, Share Research Business Analyst at Share Talk, discuss the outlook for Eco (Atlantic) Oil & Gas, Venture Life and Petroneft. Larratt talks to Tip TV Presenter Zak Mir.