Randi Zuckerberg keynotes CWLI event
Randi Zuckerberg, founder and CEO of Zuckerberg Media and a best-selling author, will be keynote speaker at the 12th annual IMPACT Leadership Dinner next year. The event, which is scheduled for Thursday Feb. 23 from 5:30 p.m. to 8:30 p.m. at the Chattanooga Convention Center, is hosted by Chattanooga Women’s Leadership Institute (CWLI) and celebrates women in leadership roles.
As an early employee at Facebook, Zuckerberg led major marketing initiatives and was nominated for an Emmy in 2011 for her innovative coverage of the midterm elections, which combined television and social media. She also helped create Facebook Live, which is now used by more than a billion people around the globe.
After leaving Facebook, she launched Zuckerberg Media and published two books, including New York Times bestseller “Dot Complicated” and “Dot.” – a children’s book which will debut as a television show on NBC’s children’s network Sprout this fall.
“Her entrepreneurial mindset and award-winning accomplishments made Randi Zuckerberg a clear choice for this year’s IMPACT Leadership Dinner keynote speaker,” said CWLI Event Chair Jennifer Nicely. “As a wife and mother of two young sons, Zuckerberg is a leading example of how to balance personal and professional success, which many of our members can relate to.”
More information about the event, including sponsorship opportunities, is available at cwli.org or at 423-394-8173.
CBL sells another shopping center
CBL & Associates Properties, Inc., and affiliates of High Real Estate Group LLC, have sold their joint ownership of the High Pointe Commons shopping center in Harrisburg, Penn., to Unison Realty Partners for $33.8 million. High Pointe Commons is a 355,000-square-foot community center anchored by Target and JCPenney. Proceeds from the transaction were used to retire $17.4 million of CBL debt.
“This transaction is the latest example of our ability to raise attractively priced capital through dispositions of high-quality community centers,” said Stephen D. Lebovitz, CBL’s president and CEO. “The excess proceeds from these asset sales furthers our progress reducing leverage, improving our credit metrics and strengthening our balance sheet.”
CBL has announced or completed the sale of more than $400 milion of property so far this year.
Factory orders up to 9-month high
Orders to U.S. factories increased in July by the largest amount in nine months, propelled by a big jump in demand for commercial aircraft. The key category that tracks business investment plans posted the best increase since January.
Factory orders rose 1.9 percent in July, the Commerce Department reported Friday. It was the biggest one-month gain since last October and was led by a surge in orders in the volatile category of commercial aircraft. Orders in the category that serves as a proxy for business investment increased 1.5 percent, the best showing since January.
Economists are hoping that after a period of weakness, business investment will begin to rebound in the second half of this year. Supporting that view, demand for oil field equipment rose for a third month.
Trade deficit falls as exports increase
The U.S. trade deficit fell in July as imports declined slightly and exports rose to the highest level in 10 months, a possible sign that global demand for American products is starting to rebound.
The deficit declined to $39.5 billion, 11.6 percent lower than June’s $44.7 billion deficit, the Commerce Department reported Friday. Imports dropped 0.8 percent to $225.8 billion, reflecting in part lower oil imports. Exports climbed 1.9 percent to $186.3 billion, the highest level since last September, led by increased sales of American farm products.
The politically sensitive deficit with China increased 1.9 percent to $30.3 billion, the highest level since November. Republican presidential nominee Donald Trump has accused China of engaging in unfair trade practices which he says have cost millions of American jobs.
The trade deficit is the difference between what America exports for sale abroad and imports for consumption in the United States. A smaller deficit helps to boost overall economic growth because it bolsters domestic production. The deficit last year rose 2.1 percent to $500.4 billion.
Yum to sell stake in its China unit
Yum Brands says it will sell a stake in its China unit, which the parent company of KFC and Pizza Hut is spinning off later this year.
The company said Friday that it struck deals to sell stakes to private equity firm Primavera Capital Group, and online and mobile financial services provider Ant Financial Services Group for a total of $460 million. It said Primavera founder Fred Hu will also become non-executive chair of Yum China’s board.
The deal and the spinoff are expected to be completed on Oct. 31.