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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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European Stocks Surge and Bond Yields Ease as Markets Scale Back Bets on Rate Cuts

 

European stocks surged to a fresh two-year high, and bond yields eased as markets scaled back ambitious bets at the end of 2023 on rate cuts by the Federal Reserve and other major central banks. The S&P 500 also edged higher, with the index poised to set a new record closing high, at the start of a week packed with big corporate earnings, European inflation data, Federal Reserve and Bank of England meetings and U.S. employment data.

The market is trying to understand the outlook for the U.S. economy as it is unlikely to require the deep interest rate cuts by the Fed it has priced in. Absent geopolitical shocks, the U.S. economy will grow better than expected with just a few areas underperforming.

The surge in European stocks and the easing of bond yields can be attributed to the markets scaling back their bets on rate cuts by the Federal Reserve and other major central banks.



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