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World Business Report: First broadcast 2020/02/10 22:32 GMT: Big American shopping mall merger

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Big American shopping mall merger

First broadcast 2020/02/10 22:32 GMT

First broadcast 2020/02/10 22:32 GMT: Big American shopping mall merger

BBC World Service - World Business Report, Big American shopping mall merger

The biggest US shopping mall ownerr Simon Property will buy rival Taubman for $3.6bn

The biggest US shopping mall operator Simon Property has bought out its rival Taubman for $3.6bn. The Taubmann family which built the business over the last 70 years will continue to own 20% of the company, but the take-over is a sign of the times - with consolidation driving economies of scale and savings in the face of online shopping and declining profits among their tenants. However the idea of a take-over has been around for a while, as Richard Hyman, retail analyst with RHA Advisory explains.

In Ireland counting votes in the general election continues and so far more than three-quarters of the seats have been filled. But it's been a breakthrough for Sinn Fein which for the first time in recent history is challenging the power of the established parties Fine Gael and Fianna Faile. Although no one party has taken enough votes for an outright majority, at this stage Sinn Fein, has achieved almost 25% of the vote. The BBC's Russell Padmore, who has just returned from Ireland, explains the significance of the new political landscape.

We look at competing visions for the Democratic Party ahead of New Hampshire's primary. Democrats in the state head to the polls to select their presidential candidate on Tuesday, and Michael Linden of the non-partisan think tank the Roosevelt Institute tells us all the candidates want the rich to pay more in tax. We hear about the competing visions on offer for healthcare from Jared Bernstein, who was an economic advisor to Vice President Joe Biden, and has been an unofficial advisor on his campaign this year. And we consider whether there are parallels worth considering between the Democratic primary race, and the way Britain's Labour party performed at the last UK general election in 2019, with the BBC's Emily Maitlis.

(Picture: A store in an American shopping mall. Credit: Getty Images.)

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