Gearing up for the New Year and taking the most of the festive season, residents across the Capital have started turning up at prominent markets and restaurants. The markets have also stocked themselves up, anticipating the increased festive demand. However, some traders associations complain of low economic gains. “We have observed over and above crowd during Christmas around Connaught Place but that necessarily has not converted to sales for all, but we are hoping that sales will increase overall in the coming days,” Vikas Bhadhwar, general secretary, New Delhi traders’ association, said. Bhadhwar suggested that the parking arrangements at CP need to improve to accommodate the increasing footfall and traffic in the market. “We need better parking professionals and consistent timings to smooth out traffic congestion and improve shopping experience,” he added. At the same time, scenes are fairy in some places with jam packed crowd and shoppers. “We have seen very good response this festive season as the discounts are good across the market and most of the shops are putting out good sale numbers,” Nitin Gupta, president of Kamla Nagar traders’ association, said. Some traders also attributed the increase in winter collection demand to recent unseasonal rains. “Rain and dip in temperature have added to demand of winter clothing, with customers buying new winter fashion items. Many shops in Sarojini Nagar mini market are also offering discounts up to 50% on new clothing goods,” Ashok Randhawa, president of Sarojini Nagar mini market said, adding that arrival of new merchandise from neighbouring states after the removal of Grap 4 guidelines has also helped in boosting the sale. West Delhi’s Karol Bagh market has also witnessed decent footfall this year, in comparison to last year, traders said. Further, research by the chambers of trade and industries (CTI) has estimated business of ₹ 1,000 crore during Christmas and New Year’s holidays. “Around 10,000 people in hospitality, food and beverages and other industries will directly and indirectly get employment during this festive period,” Brijesh Goyal, chairman of CTI, said. Meanwhile, many shoppers said that quick e-commerce applications and ongoing flash sales online are reasons customers are choosing to shop from the comfort of their home. “We get better prices online nowadays and finding parking is also a hassle in these days,” Jyoti Sangwan, a shopper, said. Residents across Delhi-NCR said that the festive decorations are on point in shopping malls so people are gravitated towards them, but the rise in prices across food and clothing items is hampering their choices. “We went out for dinner and it seemed prices have shot up,” said Anushka De, another resident. Kuljeet Chahal, the New Delhi Municipal Council (NDMC) vice chairman, said that a special drive is being undertaken for clean up of markets in New Delhi before and after the New Year’s celebrations. “A special 10-day cleanliness drive is already underway in NDMC areas. Due to heavy footfall in markets like Connaught Place, Khan Market, Janpath, extra staff will be deployed at these places. The operation of all electricity poles and security in markets will be ensured,” Chahal said. The Delhi Police on Saturday issued a traffic advisory ahead of the New Year’s Eve celebrations, saying restrictions will be put around India Gate and CP as huge crowds are expected to celebrate there. Police had earlier said that more than 10,000 police personnel will be deployed on the streets on New Year’s eve to manage traffic and maintain law and order. Paramilitary forces will also be asked to help with deployment. Security will be heightened around New Delhi and south Delhi malls, markets and clubs. Traffic police said special traffic arrangements have been made in Lutyens’.
Prospera Financial Services Inc reduced its position in shares of VanEck Preferred Securities ex Financials ETF ( NYSEARCA:PFXF – Free Report ) by 12.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,494 shares of the company’s stock after selling 7,297 shares during the period. Prospera Financial Services Inc owned about 0.06% of VanEck Preferred Securities ex Financials ETF worth $977,000 at the end of the most recent reporting period. Other institutional investors have also modified their holdings of the company. Creekside Partners purchased a new stake in VanEck Preferred Securities ex Financials ETF in the second quarter valued at $232,000. Northwestern Mutual Wealth Management Co. lifted its position in VanEck Preferred Securities ex Financials ETF by 29.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 404,782 shares of the company’s stock valued at $7,003,000 after acquiring an additional 93,192 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in VanEck Preferred Securities ex Financials ETF by 5.5% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 1,254,471 shares of the company’s stock valued at $21,702,000 after acquiring an additional 65,109 shares during the last quarter. Park Avenue Securities LLC lifted its position in VanEck Preferred Securities ex Financials ETF by 8.1% in the third quarter. Park Avenue Securities LLC now owns 417,114 shares of the company’s stock valued at $7,616,000 after acquiring an additional 31,165 shares during the last quarter. Finally, Sound Income Strategies LLC lifted its position in VanEck Preferred Securities ex Financials ETF by 4.7% in the third quarter. Sound Income Strategies LLC now owns 292,588 shares of the company’s stock valued at $5,343,000 after acquiring an additional 13,139 shares during the last quarter. VanEck Preferred Securities ex Financials ETF Price Performance Shares of PFXF opened at $18.02 on Friday. The stock has a market cap of $1.67 billion, a PE ratio of 0.59 and a beta of 0.51. VanEck Preferred Securities ex Financials ETF has a 1-year low of $16.62 and a 1-year high of $18.45. The firm has a fifty day moving average price of $18.17 and a 200 day moving average price of $17.69. VanEck Preferred Securities ex Financials ETF Company Profile The VanEck Preferred Securities ex Financials ETF (PFXF) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund tracks an index comprised of USD denominated preferred securities and securities that the index provider deems to be functionally equivalent. Securities issued by financial firms are excluded. Further Reading Receive News & Ratings for VanEck Preferred Securities ex Financials ETF Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for VanEck Preferred Securities ex Financials ETF and related companies with MarketBeat.com's FREE daily email newsletter .MITCHELL — Mitchell’s commercial landscape is seeing a mix of changes, with notable for sale signs on businesses The Back 40 and Marco’s Pizza. But local real estate experts see ongoing growth and new opportunities on the horizon. ADVERTISEMENT Local commercial real estate agent Brian Eliason, of the Janklow Eliason firm, reports a strong market, with plenty of opportunities for investors. For example, the heart of Mitchell's commercial district is showing signs of revitalization and Eliason paints an optimistic picture for the city. At present, Janklow Eliason alone has 19 commercial listings, totaling nearly $20 million in property value. These properties span a variety of locations, including several in the downtown area, signaling that Mitchell’s commercial potential is far from tapped out. One such property is the former Charlie's Shoe Repair, which recently changed hands in an off-market transaction for $125,000, including both the real estate and business assets. The new owner, however, is not planning to operate the shoe repair business. Instead, they have listed only the business portion for sale at $49,900, retaining ownership of the property itself. Another notable listing is the antique mall, a large building located on Main Street. Eliason says it’s an attractive investment, especially considering the business has operated successfully at that location for nearly 30 years. "It’s a prime spot with a lot of traffic,” Eliason said. “For someone looking for a reasonable price and a great location, this building is an opportunity.” The closure of Marco's Pizza, announced about 10 days ago, is a setback for the town's dining scene, but Eliason remains optimistic. ADVERTISEMENT "It's unfortunate that Marco's closed down a couple of weeks ago," Eliason said. "But that building is already under contract, and while we can't disclose details about the buyer's intentions, that spot is about to get a new chapter." One of the most talked-about properties on the market is The Back 40. Eliason just listed the property earlier this week, and he anticipates a fast sale. Located just 200 feet from the Corn Palace, he said it's a prime location for a potential new restaurant venture. "It's a phenomenal place for a restaurant to be. I think it makes a lot of sense for a restaurant to continue there," Eliason said. While the building that houses The Back 40 is for sale, the business itself is not included in the listing. Eliason explained the restaurant equipment and other personal property are negotiable. Listed at $400,000 for 7,500 square feet — about $50 per square foot — Eliason considers it a bargain, estimating that new construction of similar size would cost three to four times as much. While owner Keke Leiferman didn't respond to the Mitchell Republic's attempts for comment, a Facebook post from the business revealed more details about the property's status. The property was previously under contract with a potential buyer, but that deal fell through, Leiferman said in a social media post. The Mitchell City Council on Dec. 2, 2024, approved an application for a new retail (on-off sale) wine and cider license and a new retail (on-off sale) malt beverage and SD farm wine license for a business named "Jesse’s Place," with ownership listed as Stockton Lee, LLC, with Jesse Stroud as the owner. The address listed for this new venture was 511 N. Main Street, the location of The Back 40. In the recent Facebook post, Leiferman wrote: "As many of you know, I have been slowly moving out of The Back 40 and working on selling the 40. My current agreement fell through. At this time, I have decided to list the building for sale for what I feel is a very fair price for the real estate. Brian Eliason will be handling the transaction...” ADVERTISEMENT Leiferman's post also indicated that she would continue operating with reduced hours until the property sells. "I will continue to serve the community with delicious Back 40 food and some of my little events as we go," Leiferman wrote in the post. Eliason noted that The Back 40 was previously listed for sale a couple of years ago at $799,000, nearly double its current price of $400,000. At that time, it didn't sell, and Leiferman continued operations. With the current lower price, Eliason expects the property to sell quickly, saying it's priced far more competitively this time. Mitchell's commercial landscape is not just about real estate transactions; there's an active effort to diversify and expand the town's dining and retail options. Mike Lauritsen, CEO of the Mitchell Area Development Corporation and Chamber of Commerce, reports significant progress in this area. "Earlier this year we celebrated the opening of a Wendy's restaurant and are in ongoing discussions with several national restaurant chains about bringing them to Mitchell," Lauritsen said via email. This push for new restaurants is partly driven by the town's largest employers, who have expressed a strong desire for more fine dining options to entertain potential clients. Lauritsen's optimism is bolstered by Mitchell's growth, evidenced by $114 million in new building permits issued in 2023. Mitchell's downtown core remains a focal point for commercial development, though Eliason cautioned there are fewer properties available than some might think. ADVERTISEMENT "There are only a few buildings for sale downtown, and only a handful of spaces available for lease," Eliason noted. He credits the relatively limited availability of properties as a sign that Mitchell's downtown has reached a state of revival. "Going from First Avenue up to the bypass, you can see the signs of growth," Eliason said. "Things have been slow at times, but downtown is as healthy as it's ever been." Eliason has been involved in seven property transactions between First Avenue and the bypass on Main Street since the beginning of the year. "That's either seven new businesses or seven businesses relocating onto Main Street from other parts of the city," he said. In terms of downtown business ownership, Eliason said about two-thirds of businesses are owner-occupied, while the remaining third lease their spaces. "Typically, restaurants own their buildings, and retail stores lease," he said. ADVERTISEMENT As for the closure of Marco's Pizza, Eliason believes it won't have a significant impact on the town's economy. " "The reality is that the remaining pizza operators in Mitchell will benefit from this, as it reduces competition," he said. "It's not catastrophic that they closed down." Looking to the future, Eliason sees substantial growth potential in certain parts of Mitchell. The first is near Cabela's, where recent additions include a My Place hotel and Les Schwab Tire Center. Eliason also has a large commercial lot in this area that is listed for $985,000. Eliason sees the bypass as another area ripe for development, noting that a strip mall is under construction, along with several storage and industrial buildings. A new day care has also opened in the area. "There is also talks of a new steakhouse that will eventually go in on the bypass as well," Eliason said. "That'll be phenomenal to have another steakhouse in town. The investors of that deal will be investing multiple million dollars for Mitchell." Despite some closures, Mitchell's commercial real estate market remains robust. Eliason reports that the typical annual transaction volume in Mitchell is around $100 million, with this year's total reaching $90 million. "There is a huge need for quality commercial properties and Mitchell has that," Eliason said. "It's just a matter of finding the right operators and the right buyers and the right tenants for them."Is the album dying out? I certainly hope not...
WASHINGTON -- A ninth U.S. telecoms firm has been confirmed to have been hacked as part of a sprawling Chinese espionage campaign that gave officials in Beijing access to private texts and phone conversations of an unknown number of Americans, a top White House official said Friday. Biden administration officials said this month that at least eight telecommunications companies , as well as dozens of nations, had been affected by the Chinese hacking blitz known as Salt Typhoon. But Anne Neuberger, the deputy national security adviser for cyber and emerging technologies, told reporters Friday that a ninth victim had been identified after the administration released guidance to companies about how to hunt for Chinese culprits in their networks. The update from Neuberger is the latest development in a massive hacking operation that has alarmed national security officials, exposed cybersecurity vulnerabilities in the private sector and laid bare China's hacking sophistication. The hackers compromised the networks of telecommunications companies to obtain customer call records and gain access to the private communications of “a limited number of individuals." Though the FBI has not publicly identified any of the victims, officials believe senior U.S. government officials and prominent political figures are among those whose whose communications were accessed. Neuberger said officials did not yet have a precise sense how many Americans overall were affected by Salt Typhoon, in part because the Chinese were careful about their techniques, but a “large number" were in the Washington-Virginia area. Officials believe the goal of the hackers was to identify who owned the phones and, if they were “government targets of interest,” spy on their texts and phone calls, she said. The FBI said most of the people targeted by the hackers are "primarily involved in government or political activity.” Neuberger said the episode highlighted the need for required cybersecurity practices in the telecommunications industry, something the Federal Communications Commission is to take up at a meeting next month. “We know that voluntary cyber security practices are inadequate to protect against China, Russia and Iran hacking of our critical infrastructure,” she said. The Chinese government has denied responsibility for the hacking.