Cory Booker joins the U.S. Senate with one year to show New Jersey voters he can transition from being mayor of Newark, where he charmed Wall Street into the start of an economic and philanthropic revival.
Newark, New Jersey, is home to one of the poorest downtowns in the U.S., a once-exuberant commercial retail corridor where many old movie palaces, ornate department stores and grimy storefronts stand empty.
Newark, New Jersey’s biggest city, had 10 killings in as many days. Trenton, the state capital, reached a record 32 homicides this year. Governor Chris Christie, heading toward a second term, is forcing urban mayors to confront the crime wave largely on their own.
Platform Acquisition Holdings Ltd., the investment company founded by Martin E. Franklin, agreed to buy closely held MacDermid Group Inc. for $1.8 billion and said it plans to acquire more specialty-chemical makers.
German billionaire Nicolas Berggruen beat two other bidders for Karstadt this week with a promise to maintain the German department stores and jobs. He may have to ditch many of its products to make a revival work.
Berggruen Holdings Ltd., the investment company that’s bidding for Germany’s Karstadt, wants the landlords of the insolvent department store chain to cut rents to aid the retailer’s long-term survival.