- CVS Is Said to Be in Talks to Buy Aetna in Landmark Acquisition “CVS Health, the giant drugstore chain that also runs walk-in clinics and a pharmacy benefit business, is in talks to buy Aetna, one of the nation’s largest health insurance companies, according to people briefed on the talks. Negotiations between the two companies could still fall apart, these people say. But if consummated, the deal could be worth more than $60 billion based on Aetna’s current market value.” (The New York Times)
- GDP Grows at Stronger-than-Forecast 3% in the Third Quarter “The U.S. grew at a solid 3% annual pace in third quarter despite damage from two hurricanes, according to Commerce Department data. That’s above economist expectations of a 2.7% growth rate, according to a MarketWatch survey, and only slightly below the 3.1% growth rate in the second quarter. The last time the economy had two consecutive quarters of above-3% growth was in 2014.” (MarketWatch)
- Tiffany Bets NYC Pop-Up Store Will Renew Sparkle “Tiffany & Co., unable to build its same-store sales over the past 2¹/₂ years, will reach deep into its bag of tricks this holiday season. The storied jeweler will open two tourist-focused pop-up stores in Manhattan next month — one in Grand Central Terminal and the other in Rockefeller Center, The Post has learned.” (New York Post)
- How to Grow Your Real Estate Investment Portfolio “When people invest in real estate, they generally look at it as a means to earn more money. For many, real estate investing might not be a full-time job. For others, though, it may truly be a sector around which they want to build a business. However, the recipe for success involves a lot more than simply buying up a bunch of rental units, filling them with tenants and cashing rent checks. There is so much more that comes into play in order to find lasting success in investment properties.” (Forbes)
- American Eagle to Open Redesigned Store Where You can ‘Curate’ Your Jeans and Do Your Laundry “Teen apparel retailer American Eagle Outfitters is opening a prototype store that it hopes will entice younger shoppers to stay longer by customizing their jeans and doing their laundry there. The company announced this week that its first AE Studio store will open Nov. 10 in New York's Union Square neighborhood. AE Studio will have a heavy focus on jeans, with a gallery for American Eagle's denim products on the first floor.” (CNBC)
- J.C. Penney’s Latest Forecast Proves That It’s the New Sears “It seems that J.C. Penney Company Inc. is adding insult to its own injury these days. The department store lowered its full-year comp sales, profit and earnings forecast Friday, Oct. 27, predicting that its sales will be flat at best or -1%. It cut its adjusted earnings from 40 cents to 60 cents to 2 cents to 8 cents. Penney will also "accelerate the liquidation of inventory" in women's apparel. Shares are down 25% at $2.74 each.” (The Street)
- Detroit’s Slow Acceleration “Detroit continues to rebuild its economy brick by brick and business by business, spurring demand for housing and pushing rent growth above the national average. This restoration is reflected in the local multifamily market’s improving fundamentals, which are also stimulated by the lowest unemployment rate in 17 years.” (Commercial Observer)
- Dermody Snags Seattle-Area Industrial Complex “Dermody Properties has acquired Meridian Campus Corporate Park, a 459,551-square-foot, three-building, Class A industrial park in Lacey, Wash., from the California State Teachers’ Retirement System. The property, which is located just south of Seattle, also consists of 18 acres of land, which Dermody will develop into a new 318,028-square-foot distribution building.” (Commercial Property Executive)
- 5 Cities That Let You Buy Real Estate with Bitcoin “Bitcoin is a next-gen, all-digital currency that’s already a global phenomenon. Developed with high levels of security and anonymity in mind, it’s touted as a potential replacement for paper- and coin-based money in the near future. Some industries, including real estate, are capitalizing on this emerging trend by letting clients buy property via Bitcoin. It’s a significant departure from tradition, but it’s one that is quickly gaining momentum.” (The Cointelegraph)
- AI Will Continue to Shake Up Real Estate in 2018 “Between 2010 and 2014, global investments in AI technology grew from $1.7 billion to $14.9 billion, according to eMarketer, and global AI revenue is expected to reach $36.8 billion by 2025. By 2018, IDC predicts that 75 percent of developer teams will use AI technology in one or more business applications or services. At its core, AI is an enabling layer of technology that leverages computers to instantly sort through massive amounts of big data to identify trends or opportunities.” (Venture Beat)
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