Business digest: Court fight over Rhode Island skyscraper

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Posted: Tuesday, November 12, 2013 12:00 am

The owner of Rhode Island’s tallest building is suing Bank of America for more than $23 million, saying it neglected the Art Deco-style skyscraper, leaving behind crumbling facades and other problems when it left it vacant earlier this year. Newton, Mass.-based developer High Rock says the 26-story building, known locally as the Superman building for its resemblance to the Daily Planet building in the old “Superman” TV show, is unrentable because of the work that must be done. Bank of America denies that it breached its lease and has countersued.

Target Corp. is the latest retailer to open earlier on Thanksgiving this year. The Minneapolis-based discounter said it will open at 8 p.m. on the holiday — an hour earlier than last year. Stores will remain open throughout the night and close at 11 p.m. on the day after Thanksgiving. Target also will offer hundreds of deals online on Thanksgiving morning that will include almost all deals that will be available in stores. In addition, Target said it will feature 15 online-only daily discounts for two weeks beginning on the Sunday before Thanksgiving.

The number of smartphones is forecast to triple to 5.6 billion globally by 2019, accounting for more than 60 percent of cellphones. Sweden’s Ericsson AB, the world’s largest maker of telecommunications networks, said in a report Monday it expects smartphone traffic to grow tenfold in the next six years, with service providers increasing high-speed networks to deal with the surge. Total mobile subscriptions are predicted to reach 9.3 billion by 2019.

Personal magazine creator Flipboard is expanding into shopping catalogs just in time for the holiday shopping season. A tool released Monday will allow Flipboard users to display their gift wish lists and highlight their favorite products in a catalog-like format. The digital catalogs include links so the products can be purchased by anyone browsing through the selections on Flipboard.

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