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BizBrief: Today’s News To Know

United Pacific To Acquire 39 Stores in Southern California

United Pacific is acquiring 39 gas station and convenience store assets from Macland Investments. Headquartered in Long Beach’s Douglas Park, United Pacific is one of the largest independent owners, suppliers and operators of gas stations and convenience stores in the Western United States. “The addition of Macland’s stores to the United Pacific retail network significantly strengthens our company,” Joe Juliano, president and CEO of United Pacific, stated. “We are excited about bringing such a high-quality convenience store portfolio and talented and loyal group of employees into the United Pacific family.” With this acquisition, United Pacific’s network will include 356 company-operated stores, 55 fee-operated locations and more than 2,800 employees.

Walmart Unveils New Development Plans For Long Beach Towne Center

Walmart Proposal 1
Walmart Proposal 2

Walmart’s leadership has announced plans to construct a food hall and/or retail, entertainment and community space on the vacant lot just north of its Long Beach Towne Center location on Carson Street. Project plans call for “a carefully curated mix of local, regional and national dining tenants in an active setting,” according to a company web page. The two-phase project also includes a Lifetime Fitness gym and entertainment components, such as a golf driving range. There are currently two different designs for the location detailed on the website. Walmart did not immediately respond to a request to clarify which project would be developed. Walmart announced similar projects planned throughout the country at an International Council of Shopping Centers event in Atlanta last week.

United States Economy Ranked No. 1 In Competitiveness In The World

The United States economy ranks No. 1 in competitiveness worldwide, according to the World Economic Forum’s annual Global Competitiveness Report. It is the first time since 2008 that the U.S. economy has bested the rest of the world, according to a Reuters analysis. Singapore, Germany, Switzerland and Japan took the other spots in the top five. American companies “are the fastest when it comes to embracing change,” a WEF report summary stated. The U.S. topped rankings measuring countries’ “business dynamism,” labor markets and financial systems. However, it lagged behind other economically advanced countries when it came to social indicators such as life expectancy and the murder rate.

Personal Income And Expenditures Increased In September

Americans’ personal income increased by $35.7 billion in September, while personal consumption expenditures increased by $53 billion, according to the United States Bureau of Economic Analysis (BEA). Personal expenditures were driven by a demand for goods, with an additional $33.5 billion in spending in September. Spending on services increased by $3.5 billion. The BEA attributed the growth in income and expenditures to increasing wages, salaries, rental income and government benefits.

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