Financial/Banking

New York City -- Nearly half of U.S. smartphone users say they have already, or soon will, use their phones to do mobile shopping, according to a recent survey conducted by ABI Research, and 53% also use, or intend to use, their smartphones for mobile banking.

As 2010 draws to a close and interest in all things mobile reaches a fever pitch, Juniper Research has drawn up a list of predictions for the mobile and wireless industry for 2011. (Based in the United Kingdom, Juniper specializes in the identification and appraisal of high-growth opportunities across the mobile telecoms, content, and applications sectors.).

Here is the firm’s Top 5 predictions:

Houston -- Men's Wearhouse said Tuesday that higher sales lifted its third-quarter profit by 31%, but its forecast for the fourth quarter missed Wall Street's expectations.

Net income rose to $25.3 million in the three months ended Oct. 30, from $19.3 million a year earlier. Revenue increased 19% to $550.1 million, from $462 million in the previous year. Tuxedo rental revenue rose 13% and accounted for more than 20% of the company's quarterly total. Other clothing sales climbed 22% in the quarter.

Washington, D.C. -- The National Retail Federation has announced its support of a tentative bipartisan agreement that would temporarily extend Bush-era tax cuts for all taxpayers regardless of income in return for extending unemployment benefits.

Phoenix -- Vestar Development Co. and Rockwood Capital on Tuesday acquired Tempe Marketplace for $280 million by buying out an original partner. In conjunction with the closing, Tempe Marketplace received a new $200 million permanent financing package from GACC.

Vestar was the developer of Tempe Marketplace and had previously partnered with DLJ/Credit Suisse. Both Rockwood and Vestar made significant investments in the acquisition. Under terms of the deal, Vestar will be the managing partner.

Dallas -- Alliance Data Systems Corporation, provider of loyalty and marketing solutions derived from transaction-rich data, announced it has signed a multi-year renewal agreement with Arhaus Furniture -- a high-end retailer of quality, customizable home furnishings and accessories -- to continue providing turnkey private label credit-card services for Arhaus' retail locations.

Los Angeles -- Commercial real estate investment banking firm George Smith Partners, has completed a $17.2 million, two-phase, construction loan transaction in Oxnard, Calif., for Upside Investments.

New York City -- Activist investor Bill Ackman’s Pershing Square Capital Management raised its stake in Borders Group from 31.5% to 37.3% and is prepared to finance an offer by Borders to buy larger rival Barnes & Noble, according to a filing with the Securities and Exchange Commission Monday.

According to the statement, Ackman is prepared to finance an offer by Borders to buy all of Barnes & Noble’s stock in an all-cash transaction valued at $16 per share, which would amount to about $960 million, based on the shares outstanding.