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.
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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.