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Judge Halts Retailer’s Bid for Former Hudson’s Bay Space at Yorkdale

Judge blocks department store from moving into former HBC space at Yorkdale mall. A proposed plan to open a new retailer in the former Hudson’s Bay space at Yorkdale Shopping Centre has been stopped by an Ontario judge. The decision blocks a deal that would have transferred the large anchor location to a discount-focused department store operator. The court found that the arrangement did not meet the standards required for such a major tenancy change, supporting Yorkdale’s position that the retailer was not an appropriate fit for the mall’s upscale environment. The ruling ends months of dispute over the future of the vacant three-level space and underscores the challenges malls face as they try to repurpose former department store footprints. Yorkdale, known for its luxury brands and high-end positioning, is now expected to pursue alternatives that better align with its long‑term strategy.

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Stocks Rally, Yields Fall on Fed’s Mixed Messages



The stock market rallied and bond yields fell after the Federal Reserve sent mixed messages about its future policy. 

The Federal Reserve is in a “sweet spot” and may start cutting interest rates in the first half of 2024. The rally in the bond market is driving global bonds to their best month since 2008. The Bank of Japan left its policy rate unchanged and appeared in no hurry to remove negative interest rates. The yen slumped as much as 1.1% to the weakest level in a week, while the Nikkei 225 Index rallied 1.4% to a two-week high.


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