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Judge Halts Retailer’s Bid for Former Hudson’s Bay Space at Yorkdale

Judge blocks department store from moving into former HBC space at Yorkdale mall. A proposed plan to open a new retailer in the former Hudson’s Bay space at Yorkdale Shopping Centre has been stopped by an Ontario judge. The decision blocks a deal that would have transferred the large anchor location to a discount-focused department store operator. The court found that the arrangement did not meet the standards required for such a major tenancy change, supporting Yorkdale’s position that the retailer was not an appropriate fit for the mall’s upscale environment. The ruling ends months of dispute over the future of the vacant three-level space and underscores the challenges malls face as they try to repurpose former department store footprints. Yorkdale, known for its luxury brands and high-end positioning, is now expected to pursue alternatives that better align with its long‑term strategy.
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How the Israel-Hamas war is affecting global markets



The ongoing war between Israel and Hamas has not only caused a humanitarian crisis in Gaza, but also sent shockwaves across the global markets. Investors are worried about the potential escalation of the conflict and its impact on oil prices, trade, tourism and regional stability.

According to CNN, the US has sent a second aircraft carrier strike group to the eastern Mediterranean, saying it is "to deter hostile actions against Israel or any efforts toward widening this war following Hamas's attack". The US has also warned other countries not to intervene in the conflict, such as Iran and Hezbollah.

The war has also affected the Israeli economy, which was already struggling with the Covid-19 pandemic. The Bank of Israel said that the war could reduce the country's GDP growth by 0.5 percentage points this year, depending on its duration and intensity. The tourism sector, which accounts for about 7% of Israel's GDP, has been hit hard by the cancellation of flights and bookings.

Meanwhile, the Gaza Strip, which is under a blockade by Israel and Egypt, faces a dire humanitarian situation. The World Health Organization has condemned Israel's order to evacuate 22 hospitals in northern Gaza that are treating more than 2,000 inpatients. The UN has also warned of a looming food crisis, as more than half of Gaza's population is food insecure.

The war has also rattled the global oil markets, as the Middle East is a major producer and exporter of crude oil. According to Reuters, Brent crude futures rose by more than 2% on Friday, reaching $85.62 a barrel, the highest level since October 2018. Analysts say that any disruption to oil supplies from the region could trigger a spike in prices and inflation.

The war has also affected the stock markets around the world, as investors seek safe-haven assets such as gold and bonds. According to Bloomberg, the MSCI World Index, which tracks shares in 50 countries, fell by 0.6% on Friday, while the S&P 500 Index dropped by 0.8%. The volatility index, which measures market fear, rose by 16%.

The war between Israel and Hamas shows no sign of abating, as both sides exchange fire and reject calls for a ceasefire. The international community is trying to broker a diplomatic solution, but so far without success. The war poses a serious threat to global peace and security, as well as to the economic recovery from the pandemic.

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