Staples Canada is reportedly making plans to downsize 39 of its 330 stores in the coming months, cutting the average store from 25,000 square feet to 15,000 and subletting the extra space to other retailers. Thirteen of the stores have leases that expire within the next 12 months, which gives the retailer the option of closing them altogether.
Bloomberg says it will take the Commodity Futures Trading Commission to court if the agency sticks to its plan to force investors in credit-default and interest-rate swaps to post margins to cover a default for five days. Futures require only one-day coverage. Bloomberg maintains that the rule "threatens significant adverse effects for Bloomberg, other [swap-execution facilities], participants in the swaps and futures markets, and investors and taxpayers generally."
The National Federation of Independent Business' optimism index rose in February, the third consecutive month of positive movement. Still, the index isn't as high as it was before the recession, signaling "fear and instability" caused by Washington's perpetual crisis mode, NFIB Chief Economist Bill Dunkelberg says.
Manulife Real Estate has acquired the 91,517-square-foot Aldergrove Village Shopping Centre in the Vancouver area. It paid approximately $28.35 million for the property, which is anchored by two top Canadian retailers.