Matthew Bucksbaum, who influenced how Americans shop and invest in retail real estate as co- founder of General Growth Properties Inc., the second-biggest U.S. owner of shopping malls, has died. He was 87.
U.S. retailers’ sales will climb 3.4 percent this holiday season, slightly more than last year, even as companies expect more modest spending from consumers facing higher payroll taxes and economic uncertainty.
Stocks surged, sending U.S. benchmark indexes up the most since May, while the dollar and Treasuries slid as growth in American retail sales bolstered optimism in the earnings season and investors speculated European banks will pass stress tests.
Phil Lubov wore his favorite striped blue tie and brought a stack of resumes, aiming to land a holiday-season sales job to replace the retail position he lost in May. Part-time journalism teacher Gabe Walker said he arrived early, trying to boost his income.