LAKEWOOD, Ohio — Nearly two weeks after Lakewood announced it reached an agreement to part ways with Carnegie Management and Development Corporation regarding the proposed $72 million mixed-use One Lakewood Place development, city officials are talking about the decision.
“We’re paying Carnegie $255,000 to avoid future litigation, which could tie up the site for years to come,” Lakewood Mayor Meghan George said. “We believe this was in the best interest of the city.
“My focus is to ensure that we’re in the best position to move forward. The outcome of this settlement allows the city to begin a new chapter with a new developer on this site. We’re looking forward to that.”
The mayor noted the agreement includes the city retaining Carnegie-completed market studies, surveys and geotechnical reports that will provide value for any future developer.
“It’s disappointing that this partnership fell through,” Lakewood City Council President Daniel J. O’Malley
(Bloomberg) — The World Economic Forum announced its 2021 annual meeting will be held in Lucerne-Buergenstock, Switzerland, after organizers postponed the usual gathering in the ski resort of Davos due to the pandemic.
The meeting under the banner “The Great Reset” is scheduled to take place from May 18 to May 21, the WEF said on Wednesday.
The Buergenstock resort is located on a mountain overlooking lake Lucerne, in the center of Switzerland, and has conference capacity for more than 600 guests. There is only one main access road, but visitors can also arrive
Ping An Insurance Group Co (2318.HK) has increased its stake in Britain’s HSBC Holdings Plc (HSBA.L), making the Chinese insurer the company’s biggest shareholder with a 8% share.
A unit of the insurer, Ping An Asset Management Co, bought 10.8 million shares at an average price of HK$28.29 (£2.90, $3.70) per share.
It comes as British and US lawmakers criticised, HSBC and Standard Chartered (STAN.L) for supporting China’s national security law for Hong Kong, following Beijing’s handling of the pro-democracy movement in the territory.
The national security law criminalises criticism of the Chinese Communist party.
At the time, chief executive Noel Quinn, said: “We will face any political challenges that arise with a focus on the long-term needs of our customers and the best interests of our investors.”
Both banks, which are dual listed in
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