The BSE Realty Index pared early losses and closed 5.6 percent higher in a volatile Tuesday session.
Google Inc is inching toward buying e-commerce coupon website Groupon Inc for as much as $6 billion, the New York Times said on Tuesday. A deal, which could be in the range of $5 billion to $6 billion, could be struck as soon as this week but people with direct knowledge of the matter cautioned that the talks between Google and Groupon might still fall apart, the paper said. See Reuters analysis on how Google plans to spend its $33-billion cash hoard.
Black Friday bargain hunting is a marathon, requiring a shopper to be alert and aggressive to outmaneuver rivals for that last $200 LCD TV at Target. But with so many retailers opening their doors at midnight, why bother going to sleep? Even if you shopped at Kohl’s, which opened at 3 am or J.C. Penney, at 4 am, you were in for very short night for most.
Genzyme (GENZ.O), resisting a hostile bid from Sanofi-Aventis (SASY.PA), is open to a deal that links its value to the success of key drug Campath, the U.S. biotech’s chief executive was quoted as saying. But it was not up to Genzyme to suggest that to the French drugmaker, which has launched a $18.5 billion takeover offer for Genzyme, Chief Executive Henri Termeer was quoted as saying in French newspaper Le Figaro.
General Motors’ momentous return to the stock market last week was helped in part by the automaker’s own executives. Several top managers at the top U.S. automaker acquired shares in the IPO and some added to their stakes afterward, led by Chief Executive Dan Akerson and Chairman Ed Whitacre.
Fledgling hedge fund managers should expect sleepless nights, less time with their families, and intense competition for capital, as the industry has grown even more competitive after the financial crisis, according to Lars Kroijer, a former hedge fund manager who says he doesn’t think he would run a fund again.
By Jon Lentz
When predicting holiday shopping traffic, it can help to take a bird’s eye view.
Or even better, take a peak from outer space.
That’s what Thomson Reuters analyst Jharonne Martis-Olivo did, using mall traffic data for the 10 weeks leading up to Black Friday gleaned from satellite images showing how crowded shopping mall parking lots were as a way to detect shopping patterns. The data from the images was provided by Remote Sensing Metrics.
Her conclusion? Mall traffic for November 2010 has recently shown a steep rise, pointing to stronger same-store sales.
The data include more than 500 satellite observations of car count from shopping malls across the country.
Mall parking lots were only 30 percent full in September of 2008, a period when same-store sales declined.
During September in 2009 and 2010, more cars were parked outside the malls, which correlated with an uptick in sales.
Other factors, such as how much a customer spends on a visit, also play a role. For example, prices were slashed in 2008 in November as retailers struggled through the worst financial crisis in decades.
But prices seem to be less of a factor this year, and November sales could be looking up. Different companies are taking different approaches to attracting holiday shoppers.