European markets open slightly lower amid US-China trade talks

Market focus is largely attuned to trade developments between the world’s two largest economies, with a new round of negotiations expected in Washington on Tuesday. A follow-up session of higher-level talks is expected later in the week, as both sides look to resolve their protracted dispute before a March 1 deadline. Danone, HSBC and BHP Billiton are all expected to publish quarterly results Tuesday morning. In the U.K., Japanese carmaker Honda is reportedly set to announce the closure of its S


Market focus is largely attuned to trade developments between the world’s two largest economies, with a new round of negotiations expected in Washington on Tuesday. A follow-up session of higher-level talks is expected later in the week, as both sides look to resolve their protracted dispute before a March 1 deadline. Danone, HSBC and BHP Billiton are all expected to publish quarterly results Tuesday morning. In the U.K., Japanese carmaker Honda is reportedly set to announce the closure of its S
European markets open slightly lower amid US-China trade talks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: sam meredith
Keywords: news, cnbc, companies, trade, week, open, worlds, worth, tuesdaya, european, expected, amid, trump, uschina, set, announce, lower, washington, slightly, uk, talks, markets


European markets open slightly lower amid US-China trade talks

Market focus is largely attuned to trade developments between the world’s two largest economies, with a new round of negotiations expected in Washington on Tuesday.

A follow-up session of higher-level talks is expected later in the week, as both sides look to resolve their protracted dispute before a March 1 deadline.

Last week, President Donald Trump suggested he might extend the deadline for a deal, which would stop an immediate increase in tariffs on $200 billion worth of Chinese imports to 25 percent from 10 percent.

MSCI’s broadest index of Asia-Pacific shares, excluding Japan, edged down 0.1 percent.

Back in Europe, investors are likely to monitor a flurry of corporate earnings. Danone, HSBC and BHP Billiton are all expected to publish quarterly results Tuesday morning.

In the U.K., Japanese carmaker Honda is reportedly set to announce the closure of its Swindon car plant on Tuesday, risking the loss of 3,500 jobs.

The company is set to hold a news conference at 0800 GMT to announce further details.


Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: sam meredith
Keywords: news, cnbc, companies, trade, week, open, worlds, worth, tuesdaya, european, expected, amid, trump, uschina, set, announce, lower, washington, slightly, uk, talks, markets


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Payless will begin to shutter its U.S. stores Sunday

Payless ShoeSource will begin to close its U.S. stores on Sunday, a spokesperson for the shoe retailer told CNBC in a statement. The retailer will begin liquidation sales for its U.S. stores on Feb 17. It expects all stores to remain open until at least the end of March and the majority until May. In hopes of keeping some stores open, it had been seeking to find a buyer for swaths of its real estate across the U.S.Payless currently has more than 2,700 North American stores, according to its webs


Payless ShoeSource will begin to close its U.S. stores on Sunday, a spokesperson for the shoe retailer told CNBC in a statement. The retailer will begin liquidation sales for its U.S. stores on Feb 17. It expects all stores to remain open until at least the end of March and the majority until May. In hopes of keeping some stores open, it had been seeking to find a buyer for swaths of its real estate across the U.S.Payless currently has more than 2,700 North American stores, according to its webs
Payless will begin to shutter its U.S. stores Sunday Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: lauren hirsch, daniel acker, bloomberg, getty images
Keywords: news, cnbc, companies, website, open, retailer, winding, payless, bankruptcy, spokesperson, begin, stores, liquidation, american, shutter


Payless will begin to shutter its U.S. stores Sunday

Payless ShoeSource will begin to close its U.S. stores on Sunday, a spokesperson for the shoe retailer told CNBC in a statement.

The retailer will begin liquidation sales for its U.S. stores on Feb 17. It is also winding down its e-commerce operations. It expects all stores to remain open until at least the end of March and the majority until May.

CNBC previously reported the chain was preparing for a potentially imminent bankruptcy. In hopes of keeping some stores open, it had been seeking to find a buyer for swaths of its real estate across the U.S.

Payless currently has more than 2,700 North American stores, according to its website. The liquidation will not impact its franchised or Latin American stores, the spokesperson said.

Payless, which first filed for bankruptcy protection in April 2017, had been notable for its ability to emerge from bankruptcy, a feat many retailers, like Toys R US, have been unable to achieve. Still, several of its peers, like Gymboree, have emerged from bankruptcy only to boomerang back.


Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: lauren hirsch, daniel acker, bloomberg, getty images
Keywords: news, cnbc, companies, website, open, retailer, winding, payless, bankruptcy, spokesperson, begin, stores, liquidation, american, shutter


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North Korea may choose to follow Vietnam’s economic model as it looks to open up

As North Korea signals a willingness to open up its highly centralized, socialist economy, Vietnam’s model of development is being widely suggested as a blueprint for Pyongyang to emulate. Hanoi’s ability to retain one-party rule, strict censorship, minimal dissent and a top-down system of control after integrating into the global economy is an attractive prospect for North Korea, according to analysts. To gauge lessons for its own future, North Korea has long studied communist governments such


As North Korea signals a willingness to open up its highly centralized, socialist economy, Vietnam’s model of development is being widely suggested as a blueprint for Pyongyang to emulate. Hanoi’s ability to retain one-party rule, strict censorship, minimal dissent and a top-down system of control after integrating into the global economy is an attractive prospect for North Korea, according to analysts. To gauge lessons for its own future, North Korea has long studied communist governments such
North Korea may choose to follow Vietnam’s economic model as it looks to open up Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: nyshka chandran, kcna, -bradley babson, korea economic institute of america
Keywords: news, cnbc, companies, economic, kim, korea, vietnams, follow, open, economy, korean, choose, minister, hanoi, foreign, pyongyang, model, north, looks


North Korea may choose to follow Vietnam's economic model as it looks to open up

As North Korea signals a willingness to open up its highly centralized, socialist economy, Vietnam’s model of development is being widely suggested as a blueprint for Pyongyang to emulate.

Hanoi’s ability to retain one-party rule, strict censorship, minimal dissent and a top-down system of control after integrating into the global economy is an attractive prospect for North Korea, according to analysts. If Pyongyang were to ever transition into a market economy, it will likely continue to prioritize regime stability — loosening restrictions on areas such as currency and migration could be politically destabilizing for Kim Jong Un’s rule.

To gauge lessons for its own future, North Korea has long studied communist governments such as China and Vietnam, countries with state-managed growth that have integrated into the world economy. As Hanoi prepares to host the second U.S.-North Korea summit in late February, experts believe Kim may be more inclined toward Vietnamese-style liberalization.

Vietnam’s Foreign Minister Pham Binh Minh traveled to Pyongyang on Tuesday following North Korean Foreign Minister Ri Yong Ho’s visit to Hanoi last year. That trip was reportedly aimed at studying Vietnam’s reforms, according to Yonhap News Agency. Such visits hark back to earlier years such as 2012, when a North Korean delegation visited the Vietnamese province of Thai Binh to examine rural development.


Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: nyshka chandran, kcna, -bradley babson, korea economic institute of america
Keywords: news, cnbc, companies, economic, kim, korea, vietnams, follow, open, economy, korean, choose, minister, hanoi, foreign, pyongyang, model, north, looks


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Futures point to a triple-digit gain for Dow on US-China trade optimism

U.S. stock index futures were higher Wednesday morning, with market participants hopeful that Chinese and U.S. trade authorities will reach an agreement. ET, Dow Jones Industrial Average futures rose 108 points, indicating a positive open of more than 112 points. Investors continue to follow news out of U.S.-China trade talks. The positive sentiment in equity markets is also linked to tentative deal on border security funding, which could prevent another government shutdown. President Trump said


U.S. stock index futures were higher Wednesday morning, with market participants hopeful that Chinese and U.S. trade authorities will reach an agreement. ET, Dow Jones Industrial Average futures rose 108 points, indicating a positive open of more than 112 points. Investors continue to follow news out of U.S.-China trade talks. The positive sentiment in equity markets is also linked to tentative deal on border security funding, which could prevent another government shutdown. President Trump said
Futures point to a triple-digit gain for Dow on US-China trade optimism Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: silvia amaro
Keywords: news, cnbc, companies, positive, futures, president, optimism, points, uschina, trump, trade, dow, et, gain, reach, market, point, tripledigit, open


Futures point to a triple-digit gain for Dow on US-China trade optimism

U.S. stock index futures were higher Wednesday morning, with market participants hopeful that Chinese and U.S. trade authorities will reach an agreement.

At around 2:18 a.m. ET, Dow Jones Industrial Average futures rose 108 points, indicating a positive open of more than 112 points. Futures on the S&P and Nasdaq were also seen slightly higher.

Investors continue to follow news out of U.S.-China trade talks. President Donald Trump suggested Tuesday that he might be open to postpone the current deadline of early March so that both sides can reach a deal. Failure to achieve an agreement would spark higher U.S. tariffs on Chinese goods.

The positive sentiment in equity markets is also linked to tentative deal on border security funding, which could prevent another government shutdown. President Trump said Tuesday he is not happy with this proposal but added he will be studying its details.

In corporate news, Teva Pharma and Cedar Fair are among the major companies expected to report their latest quarterly results before the opening bell. AIG, Cisco Systems and SVMK are all due to publish earnings after market close.

On the data front, there will be CPI numbers out at 8.30 a.m. ET time and the monthly federal budget will be out at 2 p.m. ET time.


Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: silvia amaro
Keywords: news, cnbc, companies, positive, futures, president, optimism, points, uschina, trump, trade, dow, et, gain, reach, market, point, tripledigit, open


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Here’s an awesome iPhone trick that makes web pages much easier to read

This is what the page looks like in “Reader View.” Now when you surf the web you’ll see clean pages that are much easier to scroll through and read. News articles with videos embedded don’t always show the video, so I turned of Reader View when I wanted to check that. In addition, it’s not perfect: Depending on the site you’re reading, it might actually cover the content you’re trying to read. Lastly, because Reader View can block certain types of ads, you might be hurting some of your favorite


This is what the page looks like in “Reader View.” Now when you surf the web you’ll see clean pages that are much easier to scroll through and read. News articles with videos embedded don’t always show the video, so I turned of Reader View when I wanted to check that. In addition, it’s not perfect: Depending on the site you’re reading, it might actually cover the content you’re trying to read. Lastly, because Reader View can block certain types of ads, you might be hurting some of your favorite
Here’s an awesome iPhone trick that makes web pages much easier to read Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: todd haselton, jaap arriens, nurphoto, getty images
Keywords: news, cnbc, companies, iphone, open, instead, view, awesome, easier, heres, scroll, youre, wanted, trick, reader, bar, page, read, web, makes, site, pages


Here's an awesome iPhone trick that makes web pages much easier to read

Open Safari and visit a website with a bunch of text. You can even try it right here if you have this article open on your iPhone or iPad.

Now scroll to the top of the page where you see the URL bar and tap the icon on the far left with 4 lines once.

This is what the page looks like in “Reader View.”

But here’s a trick: instead of just tapping that bar, press and hold it.

You’ll see a bar that pops up saying “Automatic Reader View.”

Select “Use on All Websites.”

That’s it. Now when you surf the web you’ll see clean pages that are much easier to scroll through and read.

There are some downsides, though. News articles with videos embedded don’t always show the video, so I turned of Reader View when I wanted to check that.

In addition, it’s not perfect: Depending on the site you’re reading, it might actually cover the content you’re trying to read. When I tested this on ESPN.com, for example, it showed the next story instead of the article I wanted to read.

Lastly, because Reader View can block certain types of ads, you might be hurting some of your favorite websites, at least if they rely heavily on advertising revenue. But, if there’s a favorite site of yours whose ads are so aggressive that they get in the way of the story, at least this fixes that problem.

WATCH: How to get the most out of Apple’s iOS 12


Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: todd haselton, jaap arriens, nurphoto, getty images
Keywords: news, cnbc, companies, iphone, open, instead, view, awesome, easier, heres, scroll, youre, wanted, trick, reader, bar, page, read, web, makes, site, pages


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The stock market just cleared a key hurdle: ‘It should open the door to 2,800 now’

The S&P 500, for one, closed above a key technical level Tuesday, when it finished above its 200-day moving average for the first time since Dec. 3. “It should open the door to 2,800 now…It does feel like the advance/decline line is really strong. He said traders became more confident when the S&P 500 regained the psychologically important 2,700 level on Friday, and now that the S&P has regained the 200-day, it is signaling more gains ahead. Stocks were higher Tuesday amid optimism for the Chi


The S&P 500, for one, closed above a key technical level Tuesday, when it finished above its 200-day moving average for the first time since Dec. 3. “It should open the door to 2,800 now…It does feel like the advance/decline line is really strong. He said traders became more confident when the S&P 500 regained the psychologically important 2,700 level on Friday, and now that the S&P has regained the 200-day, it is signaling more gains ahead. Stocks were higher Tuesday amid optimism for the Chi
The stock market just cleared a key hurdle: ‘It should open the door to 2,800 now’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: patti domm, michael nagle, bloomberg, getty images
Keywords: news, cnbc, companies, strong, 200day, really, open, regained, days, hurdle, cleared, redler, 500, stock, sp, key, sohn, technical, 2800, market, door


The stock market just cleared a key hurdle: 'It should open the door to 2,800 now'

Technical analysts say more bullish signs for stocks are showing up in the charts.

The S&P 500, for one, closed above a key technical level Tuesday, when it finished above its 200-day moving average for the first time since Dec. 3. The S&P continued higher Wednesday after closing Tuesday at 2,744, one point above the 200-day, a momentum indicator based on the average price move over a 200-day period.

“It should open the door to 2,800 now…It does feel like the advance/decline line is really strong. The broad-based rally is strong. We have two days of overseas markets rallying. It doesn’t seem as if it’s a fake out for now…The active bulls keep stepping up where they have to,” said Scott Redler, partner with T3Live.com who follows the market’s short-term technicals. Advancers led declining issues by three-to-one on the New York Stock Exchange Tuesday.

“It was another obstacle that this wall of worry got above,” said Redler. He said traders became more confident when the S&P 500 regained the psychologically important 2,700 level on Friday, and now that the S&P has regained the 200-day, it is signaling more gains ahead.

Stocks were higher Tuesday amid optimism for the China trade talks and a tentative deal to avoid a government shutdown.

Srategas Research technical analyst Todd Sohn said the more time that passes, the less likely it is the S&P 500 will retest the December lows. “You could get a pull back to 2,550 to 2,600, and that may be all you need,” he said.

“I do like what I’m seeing. It’s important to remember the S&P is up 17 percent over 32 trading days. It’s a really good run, and I don’t want to stand in front of it but at some point, it’s going to need to pause for more than two or three days,” said Sohn.


Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: patti domm, michael nagle, bloomberg, getty images
Keywords: news, cnbc, companies, strong, 200day, really, open, regained, days, hurdle, cleared, redler, 500, stock, sp, key, sohn, technical, 2800, market, door


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Here’s an awesome iPhone trick that makes web pages much easier to read

This is what the page looks like in “Reader View.” Now when you surf the web you’ll see clean pages that are much easier to scroll through and read. News articles with videos embedded don’t always show the video, so I turned of Reader View when I wanted to check that. In addition, it’s not perfect: Depending on the site you’re reading, it might actually cover the content you’re trying to read. Lastly, because Reader View can block certain types of ads, you might be hurting some of your favorite


This is what the page looks like in “Reader View.” Now when you surf the web you’ll see clean pages that are much easier to scroll through and read. News articles with videos embedded don’t always show the video, so I turned of Reader View when I wanted to check that. In addition, it’s not perfect: Depending on the site you’re reading, it might actually cover the content you’re trying to read. Lastly, because Reader View can block certain types of ads, you might be hurting some of your favorite
Here’s an awesome iPhone trick that makes web pages much easier to read Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: todd haselton, jaap arriens, nurphoto, getty images
Keywords: news, cnbc, companies, iphone, open, instead, view, awesome, easier, heres, scroll, youre, wanted, trick, reader, bar, page, read, web, makes, site, pages


Here's an awesome iPhone trick that makes web pages much easier to read

Open Safari and visit a website with a bunch of text. You can even try it right here if you have this article open on your iPhone or iPad.

Now scroll to the top of the page where you see the URL bar and tap the icon on the far left with 4 lines once.

This is what the page looks like in “Reader View.”

But here’s a trick: instead of just tapping that bar, press and hold it.

You’ll see a bar that pops up saying “Automatic Reader View.”

Select “Use on All Websites.”

That’s it. Now when you surf the web you’ll see clean pages that are much easier to scroll through and read.

There are some downsides, though. News articles with videos embedded don’t always show the video, so I turned of Reader View when I wanted to check that.

In addition, it’s not perfect: Depending on the site you’re reading, it might actually cover the content you’re trying to read. When I tested this on ESPN.com, for example, it showed the next story instead of the article I wanted to read.

Lastly, because Reader View can block certain types of ads, you might be hurting some of your favorite websites, at least if they rely heavily on advertising revenue. But, if there’s a favorite site of yours whose ads are so aggressive that they get in the way of the story, at least this fixes that problem.

WATCH: How to get the most out of Apple’s iOS 12


Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: todd haselton, jaap arriens, nurphoto, getty images
Keywords: news, cnbc, companies, iphone, open, instead, view, awesome, easier, heres, scroll, youre, wanted, trick, reader, bar, page, read, web, makes, site, pages


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European markets open higher ahead of US-China trade talks

Market focus is largely attuned to global trade developments, with a delegation of U.S. officials set to travel to China for the next round of negotiations this week. The latest set of trade talks will take place in Beijing from Monday. Escalating tensions between the world’s two largest economies have cost both countries billions of dollars and roiled global financial markets. Back in Europe, investors are likely to monitor a preliminary quarter-on-quarter estimate of U.K. GDP growth rate data


Market focus is largely attuned to global trade developments, with a delegation of U.S. officials set to travel to China for the next round of negotiations this week. The latest set of trade talks will take place in Beijing from Monday. Escalating tensions between the world’s two largest economies have cost both countries billions of dollars and roiled global financial markets. Back in Europe, investors are likely to monitor a preliminary quarter-on-quarter estimate of U.K. GDP growth rate data
European markets open higher ahead of US-China trade talks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: sam meredith
Keywords: news, cnbc, companies, trade, european, uschina, ahead, latest, gdp, global, shares, set, talks, markets, higher, japan, uk, trading, open, data


European markets open higher ahead of US-China trade talks

Market focus is largely attuned to global trade developments, with a delegation of U.S. officials set to travel to China for the next round of negotiations this week.

The latest set of trade talks will take place in Beijing from Monday. It comes after discussions in Washington last week concluded without a deal.

Both sides are trying to secure a comprehensive trade agreement ahead of a March 1 deadline when U.S. tariffs on $200 billion worth of Chinese imports are scheduled to increase to 25 percent from 10 percent.

Escalating tensions between the world’s two largest economies have cost both countries billions of dollars and roiled global financial markets.

In Asia, Chinese shares whipsawed on Monday after they resumed trading following a week-long Lunar New Year holiday. The blue-chip index rose 0.4 percent, though trading volumes were still expected to be light with Japan on a public holiday.

MSCI’s broadest-index of Asia-Pacific shares, excluding Japan, was around 0.1 percent lower.

Back in Europe, investors are likely to monitor a preliminary quarter-on-quarter estimate of U.K. GDP growth rate data at around 9:30 a.m. London time. The U.K. is also expected to release annualized GDP data for December as well as the latest industrial production figures and trade balance data.


Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: sam meredith
Keywords: news, cnbc, companies, trade, european, uschina, ahead, latest, gdp, global, shares, set, talks, markets, higher, japan, uk, trading, open, data


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Dow futures point to a lower open as trade, political concerns linger

U.S. stock index futures were lower Monday morning, as investors monitored trade talks and political developments. ET, Dow futures slipped 31 points, indicating a negative open of more than 32 points. On Friday, Wall Street closed lower on the back of concerns over the ongoing trade war and slower economic growth concerns. Everest Re, FMC Corporation and Livent Corporation are among those scheduled to publish results after market close. There are no major economic reports scheduled on Monday.


U.S. stock index futures were lower Monday morning, as investors monitored trade talks and political developments. ET, Dow futures slipped 31 points, indicating a negative open of more than 32 points. On Friday, Wall Street closed lower on the back of concerns over the ongoing trade war and slower economic growth concerns. Everest Re, FMC Corporation and Livent Corporation are among those scheduled to publish results after market close. There are no major economic reports scheduled on Monday.
Dow futures point to a lower open as trade, political concerns linger Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: silvia amaro
Keywords: news, cnbc, companies, scheduled, trade, point, concerns, democrats, political, corporation, linger, futures, reports, dow, points, economic, open, lower


Dow futures point to a lower open as trade, political concerns linger

U.S. stock index futures were lower Monday morning, as investors monitored trade talks and political developments.

At around 1:45 a.m. ET, Dow futures slipped 31 points, indicating a negative open of more than 32 points. Futures on the S&P and Nasdaq were also seen relatively downbeat.

On Friday, Wall Street closed lower on the back of concerns over the ongoing trade war and slower economic growth concerns. The sentiment has continued onto Monday, ahead of further trade meetings between the U.S. and the Chinese administrations later this week. Time is running out ahead of the self-imposed deadlines of March 2. Failure to reach an agreement will raise U.S. tariffs on $200 billion worth of Chinese to 25 percent from 10 percent.

There is also a growing focus on a potential second government shutdown, given that Democrats and Republicans remain at odds over border policy. President Donald Trump tweeted this weekend “I actually believe they (Democrats) want a shutdown.”

Meanwhile, traders will monitor further earnings reports. Restaurant Brands International, CNA Financial Corporation and Kemper are among those expected to report their latest quarterly figures before the opening bell.

Everest Re, FMC Corporation and Livent Corporation are among those scheduled to publish results after market close.

There are no major economic reports scheduled on Monday.


Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: silvia amaro
Keywords: news, cnbc, companies, scheduled, trade, point, concerns, democrats, political, corporation, linger, futures, reports, dow, points, economic, open, lower


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Simon, the biggest mall owner in the US, plans to open 108 CBD shops

The biggest mall owner in the country is about to open more than 100 shops selling products infused with CBD, short for cannabidiol. Simon Property Group on Monday said it was partnering with Ohio-based marijuana company Green Growth Brands to open 108 locations selling CBD products this year at Simon’s U.S. malls, which include Roosevelt Field Mall in New York and The Galleria in Houston. “We are constantly on the lookout for cutting-edge new concepts,” John Rulli, president of Simon Malls, sai


The biggest mall owner in the country is about to open more than 100 shops selling products infused with CBD, short for cannabidiol. Simon Property Group on Monday said it was partnering with Ohio-based marijuana company Green Growth Brands to open 108 locations selling CBD products this year at Simon’s U.S. malls, which include Roosevelt Field Mall in New York and The Galleria in Houston. “We are constantly on the lookout for cutting-edge new concepts,” John Rulli, president of Simon Malls, sai
Simon, the biggest mall owner in the US, plans to open 108 CBD shops Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: lauren thomas, richard vogel
Keywords: news, cnbc, companies, owner, company, biggest, cannabis, locations, 108, mall, ggb, shops, plans, simon, cbd, open, selling, space


Simon, the biggest mall owner in the US, plans to open 108 CBD shops

The biggest mall owner in the country is about to open more than 100 shops selling products infused with CBD, short for cannabidiol.

Simon Property Group on Monday said it was partnering with Ohio-based marijuana company Green Growth Brands to open 108 locations selling CBD products this year at Simon’s U.S. malls, which include Roosevelt Field Mall in New York and The Galleria in Houston.

“We are constantly on the lookout for cutting-edge new concepts,” John Rulli, president of Simon Malls, said in a press release. “We are committed to adding new and dynamic retailers and uses to our shopping destinations, and the GGB shopping experience is exactly the type of innovation our customers want and expect from us.”

The two companies said the first location will open in March at Castleton Square Mall in Indianapolis. The others are slated to open later this year. Thanks to this partnership, GGB said it will be able to open more shops under its Seventh Sense Botanical Therapy (“Seventh Sense”) brand for CBD-infused body care.

Peter Horvath, the CEO of GGB, told CNBC the company is already in talks with five other major real estate developers and plans to have 300 locations open (including the 108 with Simon) by the end of 2019. “The mall developers … are in the business of renting space. They need more food and personal care and less clothing,” Horvath said. “We fit into one of the categories that’s growing. That’s not an accident.”

For GGB, the deal will help the cannabis company raise more awareness about its brands and promote education around the booming, albeit controversial, CBD industry at large. The increasingly popular compound, which comes from the cannabis plant, promises to deliver the calming benefits of marijuana without the high that comes from THC.

Most CBD was legalized in December when President Donald Trump signed the farm bill. However, Food and Drug Administration regulations still prohibit CBD from being added to foods and drinks, which could present some hurdles for restaurant owners already selling it in coffee and cocktails.

For Simon, landing GGB as a national tenant will help the landlord fill empty space at its properties. Mall owners have been struggling in recent months to fill storefronts, as brands such as Gymboree and Sears go bankrupt and shut stores or, like Gap and Victoria’s Secret, scale back their real estate. Simon has been turning to non-retail tenants like apartments and hotels to fill that empty space.

Also on Monday, luxury department store chain Barney’s said it will be opening a “cannabis lifestyle shop” in its Beverly Hills store next month, promising more locations to come. The retailer said the space, known as “The High End,” will sell an exclusive vaporizer pen, pastilles and other CBD-related items.

“This is not a pop-up, [it’s] not a temporary space,” Barney’s creative director, Matthew Mazzucca, said. “It’s a category that we are embracing and getting behind.”

— CNBC’s Angelica Lavito contributed to this reporting.


Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: lauren thomas, richard vogel
Keywords: news, cnbc, companies, owner, company, biggest, cannabis, locations, 108, mall, ggb, shops, plans, simon, cbd, open, selling, space


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