Shawmut Design and Construction has joined Draper and Wexford Science & Technology to break ground on the 111,000-square-foot Integrated Microelectronics Production & Advanced Chip Technology (IMPACT) Center in Lowell, Massachusetts.
Canada-based Hudson’s Bay Co. filed papers to return to trading on the Toronto Stock Exchange after six years as a private company, with a planned IPO that it hopes will raise about 500 million Canadian dollars. The company, which operates The Bay and Home Outfitters
For the first time since 2008, New York City’s construction spending will top $30 billion, having risen 9 percent in 2012, according to The New York Building Congress. Citiy officials say it is fast-tracking $1 billion in “critical” infrastructure projects. Read the Bloomberg story here.
With the so-called fiscal cliff in mind, economists tempered their U.S. growth forecast for 2013, projecting 2.4 percent, while pegging this year’s growth at 1.9 percent. Although the economists discount the worst scenarios for the cliff, they do see a continued tendency among consumers to
Kroger is pushing a growth plan that includes expanding the Kroger Marketplace format and selling apparel and other nongrocery items. The grocer is finding more opportunities to expand its stores and build new ones. Company officials say they will invest $200 million a year to
Wendy’s unveiled a remodeled restaurant in Detroit, one of four new looks the chain is testing as part of a push to modernize its look. The streamlined design incorporates floor-to-ceiling greenhouse windows, metallic paneling and lounge seating around a fireplace, and the location now boasts
U.S. consumers expect to spend about 1.2 percent more on the holidays this year than they did in 2011, according to a new survey from the National Retail Federation (NRF) and BIGinsight. Read the Chicago Tribune story here.
Best Western International has revealed details of its upcoming extended-stay product. The concept involves a three-to-four-story building that would fall into Best Western’s Plus or Premier tiers and comprise 85 rooms measuring as much as 500 square feet. Developers have the choice of designing 20
Ryman Hospitality Properties plans to expand its portfolio as a newly formed real-estate investment trust through acquisitions of hotels that focus on the group segment. The company’s experience in the group and meetings segment will be a benefit in managing group-oriented hotels. Read the HotelNewsNow.com
The average Peruvian consumer has to travel less than a mile to find a KFC, Burger King or other U.S. quickservice restaurant. The country’s fast-food market grew 15 percent last year as people spent more time shopping and eating at malls. Read the Bloomberg story
High anxiety about the U.S. economy and the pending fiscal cliff will impact the overall pace of the U.S. recovery, according to National Retail Federation’s most recent Retail Sales Outlook. The quarterly report uses recent economic data to analyze the impact of key indicators such
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