May 25, 2012 6:19 pm
US wholesale prices fell 0.2 percent in April - Yahoo Finance
WASHINGTON (AP) -- U.S. wholesale prices fell in April, reflecting a big decline in gas and energy costs. But outside that drop, inflation was tame.
The Labor Department says the producer price index, which measures price changes before they reach the consumer, dropped 0.2 percent in April. It was the first decline since December and the biggest drop since October.
Excluding volatile food and energy costs, the so-called core index rose 0.2 percent.
For the 12 months that ended in April, wholesale prices have risen just 1.9 percent, the smallest 12-month change since October 2009.
Modest wholesale inflation reduces pressure on manufacturers and retailers to raise prices. That helps keep consumer prices stable.
Gas prices spiked earlier this year. But they have dropped 5 percent since peaking last month.
Bayshore Shopping Centre embarks on $200-million renovation and expansion project - Yahoo Finance
OTTAWA, May 25, 2012 /CNW Telbec/ - Ivanhoé Cambridge announced today a $200-million investment in Bayshore Shopping Centre, boosting the centre's retail area by 160,000 square feet (14,900 m2). Slated for completion in 2015, this major redevelopment and expansion project begins immediately. The additional retail space will allow the centre to introduce highly desirable retailers into the Ottawa market.
"This investment reflects our strategic plan to invest in our properties in order to provide an exceptional shopping experience for consumers and an optimal place of business for our retailers," said Kim McInnes, President, Global Operations, Ivanhoé Cambridge.
The centre, managed by Ivanhoé Cambridge and co-owned with KingSett Capital, will remain open during the phased construction. The modern makeover includes moving and expanding the food court and nearly tripling its seating area, as well as increasing parking space by 10 percent. The bulk of the expansion will be on the northern side of the property, in place of the existing parking tower.
"The project is well-timed because the Ottawa market has grown substantially over the past few years," noted George Fiddler, Senior Vice President, Retail, Central North America, Ivanhoé Cambridge. "Ivanhoé Cambridge and KingSett Capital are proud to partner in this investment which will seal Bayshore Shopping Centre's position as the preferred shopping destination for Ottawa and the surrounding areas," he added.
Ottawa Mayor Jim Watson commented: "Bayshore is a commercial cornerstone for not only the community, but the entire west end of the city. These improvements will generate significant economic benefits and ensure that Bayshore Shopping Centre can continue to be a strong partner to the community."
Mayor Watson and Bay Ward Councillor Mark Taylor joined Ottawa West-Nepean MPP and Ontario Minister of Transportation and Infrastructure Bob Chiarelli for the official launch of the redevelopment - one of the largest projects of its kind in Ottawa history. "Expanding Bayshore Shopping Centre will create over 400 new, permanent jobs, right here in Ottawa West-Nepean," said Mr. Chiarelli. "The shopping centre's commitment to enhance our farmers' market and strengthen its partnership with the Pinecrest-Queensway Community Health Centre's employment program will also benefit local families."
Bayshore Shopping Centre has been working closely with the provincial and municipal governments, and local community partners, to ensure the success of this redevelopment project. Construction vehicles will be re-routed to mitigate congestion on local streets, and transportation initiatives will be introduced during peak shopping periods.
"Area residents are looking forward to seeing their neighbourhood shopping centre grow into one of the more impressive centres in the country," said Councillor Taylor. "Bayshore Shopping Centre is an incredible community partner and I am very pleased to be on hand for the groundbreaking of this project."
About Bayshore Shopping Centre
Bayshore Shopping Centre is Ottawa's premier shopping destination thanks to its strong tenant mix and ideal geographic location. Situated in the western portion of the Ottawa-Gatineau metropolitan area, it boasts 165 retailers such as Bath & Body Works, Banana Republic, Aries and Jack & Jones, in addition to several anchor stores, including The Bay, Sports Experts and Old Navy. It is also the only shopping centre in Ottawa where both Winners and HomeSense can be found under one roof. Bayshore is visited by over 7 million customers per year.
About Ivanhoé Cambridge
Ivanhoé Cambridge is one of the 10 largest real estate companies in the world, with more than $30 billion of assets in over 20 countries as at December 31, 2011. Ivanhoé Cambridge is a real estate subsidiary of the Caisse de dépôt et placement du Québec (lacaisse.com), one of Canada's leading institutional fund managers. For more information, visit ivanhoecambridge.com.
About KingSett Capital
KingSett Capital is Canada's leading private equity real estate business co-investing with pension fund and high net worth individual clients. For more information, visit kingsettcapital.com.
Shopping by mobile gives Menarys a welcome online boost - Belfast Telegraph
Menarys.com went live in 2010 and has attracted orders for fashion, accessories, homeware and giftware from 19 countries including Germany, Spain, New Zealand and France.
The performance of the local retailer reflects forecasts from a recent study published by the Centre for Retail Research that anticipates shopping on mobile devices in the UK will rise by 53% to £4.5bn in the next 12 months.
Menarys Group e-commerce manager Marisa Maguire said the online shop has also seen a notable shift in the typical customer profile.
"Mobile shopping has grown so quickly because it's a convenient and easy way for shoppers to find the best products at the most affordable prices," she said.
"There has been a significant increase in people browsing the Menarys site for leading fashion brands, accessories, gifts, cookware and beauty products through tablet computers and smartphones.
"Having an online presence is a very important part of our strategy to ensure we are meeting our customers' needs."
Established in 1923, Menarys sells lingerie and fashion, accessories, handbags, cookshop, home and hosts concession partners throughout Northern Ireland.
Menarys is headquartered in Moygashel, Co Tyrone, with outlets in Bangor, Coleraine, Cookstown, Dungannon, Junction One in Antrim, Larne, Limavady, Lisburn, two in Newry, Newtownards, Portadown, Craigavon, and Strabane.
In the Republic there are branches in Carrick-on-Shannon, Clonmel, Letterkenny, Dublin and Offaly.
Menarys was originally established in Co Tyrone in 1923 as Joseph Alexander Ltd, and has since become a favourite local department store chain, which was rebranded as Menarys in the 1980s. It employs over 500 Menarys staff and 1,000 concession staff.
Ottawa's Bayshore Shopping Centre to expand with $200-million investment - Winnipeg Free Press
MONTREAL - The real estate arm of pension fund manager Caisse de depot et placement du Quebec has announced a $200-million investment to expand Ottawa's Bayshore Shopping Centre.
Ivanhoe Cambridge said Friday the shopping centre will be expanded by 160,000 square feet with the expansion slated for completion in 2015.
The additional retail space will allow the centre to introduce "highly desirable" retailers into the Ottawa market, Ivanhoe said.
"This investment reflects our strategic plan to invest in our properties in order to provide an exceptional shopping experience for consumers and an optimal place of business for our retailers," said Kim McInnes, president of global operations.
The centre, managed by Ivanhoe Cambridge and co-owned with KingSett Capital, will remain open during the phased construction.
Ivanhoe Cambridge is one of the 10 largest real estate companies in the world, with more than $30 billion of assets in over 20 countries as of Dec. 31.
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