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Fifth Avenue Real Estate
The New York Times reported this week that Ralph Lauren will be the latest store on glittery Fifth Avenue to move out. In recent years a shift to online shopping has significantly decreased sales to the well-known shopping avenue. Stores need to ask themselves if they should invest in a physical presence or market more online.
Combine the shopping trend to increasing rents and decreased international tourism (international tourists tend to spend more money at these higher-end retailers than domestic travelers at a rate of 1 international to 4 domestic tourists) and it’s no wonder stores like Kenneth Cole and H&M vacated the desirable address. Read more about what Rachel Abrams wrote about the topic here.
Syria: Chemical Attacks and U.S. Launched Airstrikes
On Tuesday, April 4 a chemical attack in Idlib Province, Syria killed at least 80 people and injured hundreds more. No one has claimed responsibility for the attack in the rebel-held area. Some say it is in line with what the Assad regime would do, the regime claims a a rebel warehouse full of chemical weapons must have caused the attack, and the U.S. is looking into whether Russia had any knowledge or involvement into the attack.
On Friday, April 7 President Trump ordered a missile attack targeted at Shayrat Airfield, a Syrian airbase that is believed to house the planes that carried out Tuesday’s attack. About 20 Syrian planes were damaged, and nine people including four children were killed in the missile attacks. World nations are torn on America’s actions: Western allies commend the retaliation, Russian President Putin called it “an act of aggression” and denounced it. Maj. Issam al-Reis of the Free Syrian Army’s Southern Front welcomed the attack. It was the first direct attack against Assad’s regime from the U.S. since the Syrian civil war began six years ago.
Truck Attack in Stockholm
A hijacked truck drove into a crowd on a busy shopping street, Drottninggatan Street in Stockholm, Sweden, on Friday afternoon. The attack killed four people and injured another 15. A masked man stole the truck while its driver was loading items into the open rear. A suspect connected to the attack, but not the driver, was arrested in Marsta and is being questioned by police. He is a 39 year old Uzbek national who lives in a Stockholm suburb. His social media account suggests ties to ISIS.
St. Petersburg Metro Attack
On April 3 a blast hit a train carriage between Sennaya Ploshchad and Tekhnologichesky Institut stations, killing at least 14 and injuring more than 50 people. There have been eight men detained in connection to the blast. The suicide bomber, Akbarzhon A. Dzhalilov, was a 22 year old Russian with Uzbec roots. Police are still trying to find clues as to whether he was influenced by ISIS. There is evidence he may have been trained in bomb making by ISIS members in Syria.
Dzhalilov planted a second bomb at the Vosstaniya Square station before he blew himself up between the Sennaya Square and the Technology Institute stations. The bomb at the Vosstaniya Square station was disarmed by a security officer before it could detonate.