Economics & Economy

Westfield mall owner agrees to sale

Dec 12, 2017

Europe's largest commercial landlord, Unibail-Rodamco, announced plans today to buy the Westfield Corp. for almost $16 billion. Westfield is an Australian company that has 35 mostly upscale malls in prime locations across the United States and United Kingdom. But even the firms behind some of America's best-performing malls are feeling the pressure from online retailers like Amazon. So their owners are consolidating to survive. 

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President Donald Trump signed the National Defense Authorization Act today. It calls for around $700 billion in defense spending for fiscal year 2018. That would blow right through the spending caps Congress agreed to back in 2011. Congress has to vote to modify those caps, if it wants to spend this much money on defense. And it’s not clear Republican leaders have the votes to do that.

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In the aftermath of CVS’ $69 billion deal to buy health insurance giant Aetna, the company wants to turn its MinuteClinics into health care hubs where people can get even more of their basic needs met. But what would it take for this to happen? And since we can’t go one day without talking taxes, we discuss the Treasury Department’s one-page analysis of the bill with Politico’s Ben White.

When child care worker Kimberly Nunez woke up one morning with her eye swollen from a sty, she called her doctor. 

“The doctor wasn’t in that day,” she recalled. “When I called they just told me to go to urgent care or somewhere where they could handle it.”

Nunez decided her best option was a CVS MinuteClinic in Philadelphia.

“No calling, no nothing. Easy. It’s very convenient. It’s always a second option,” she said.

CVS is hoping its latest move will make it a first option for more consumers.

An impossible race, and why Italians love this particular shade of red

Dec 12, 2017

In her new book, "The Secret Lives of Color," Kassia St. Clair chronicles the origin stories of a rainbow of colors, dyes and shades. In this occasional series, we'll highlight some of the hues featured in her book and the unusual stories behind them. Today, she tells the story of how rosso corsa, a particular shade of red, came to be Italy's national racing color.