The Grand Opening Of Uniqlo's Amazing Flagship Store In New York City

Image: Karlee Weinmann, Business Insider

Thousands of shoppers trekked to Fifth Avenue on Friday to be among the first to see Uniqlo's largest global flagship store revealed (at 89,000 square feet, it's the biggest single retail space on avenue).

When Mayor Bloomberg cut the ribbon at noon, he said the store would add more than a thousand new jobs; and Uniqlo CEO and Japan's richest man Tadashi Yanai -- whose father started the company as a tiny menswear shop in Japan more than 50 years ago -- said the opening was the realization of his "American Dream." 

Retail workers trained for up to three months just for the store's opening day. We captured the moment while alongside members of the media from around the world (including many from Japan and at least one from France), and even braved the chaos once the doors were opened.

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10 Things You Need To Know Before The Opening Bell (MS, SPY)

  x You have successfully emailed the post. Good morning. Here's what you need to know. After yesterday's late turnaround, global markets are sliding today. Asian markets were down in overnight trading with Hong Kong off 2.32%. Europe is sharply lower and U.S. futures are pointing to a lower open.Personal income and outlays for August will be released at 8:30 AM ET. Consensus is for a 0.1% month-over-month change in personal income and 0.2%  month-over-month change in consumer spending. Follow the release at Money Game >Chicago PMI for August will be released at 9:45 AM ET and consumer sentiment for September will be released at 9:55 AM ET. Consensus is for a drop in the business barometer index level to 55.4 and for consumer sentiment to hold steady at 57.8. Follow the release at Money Game >Please Note: Business Insider will never share your information with any other companies. You also have the ability to unsubscribe from these newsletters at any time simply by following the unsubscribe link located at the bottom of each email

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With New Gas Line Opening, Russia Is Seeking To Sideline Ukraine

Today Vladimir Putin started the long-awaited Nord Stream pipeline, which will take gas directly from Russia to Germany under the Baltic Sea, reports the BBC.

The line has cost a reported $12.5 billion.

Putin used the ceremony to bemoan Ukraine, who currently allow 80% of Russian gas to go through their land.

Ukraine had been "taking advantage" said Putin in Vyborg, and now relations would be "more civilized".

In the past, Russia has accused Ukraine of taking gas intended for European clients and owing money to the Russian gas monopoly Gazprom. The dispute reached boiling point in 2009, with Russia cutting the majority of gas running through Ukraine, leaving many Western European countries without gas.

Russia claimed that the price the Ukraine was paying was a Soviet-era relic, and tried to force the Ukraine to buy more of the gas (Russia had so much it was close to burning some to make room). Ukraine felt that the action was typical for their Slavic brothers -- keen to dominate the country harder as it tried to look towards the west.

Now Ukraine will have little recourse but to accept higher prices. Deputy Prime Minister Igor Sechin told reporters at the launch that Ukraine cannot break their contract, according to Reuters.

95.4 billion cubic meters of Russian gas came to Europe through Ukraine last year, but next year the Nord Stream will be able to handle 20 bcm of this. Another pipeline for Southern Europe, South Stream, is being planned for 2015.

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10 Things You Need To Know Before The Opening Bell (SPY, WFC, JPM)

  x You have successfully emailed the post. Good morning. Here's what you need to know. Asian indices were mostly up in overnight trading with the Bombay Stock Exchange up 3.58%. Europe is trading higher and U.S. futures point to a strong open.UK home prices fell for a fourth month in August, with the average cost of a home falling 0.1% from July, and down 3.7% from a year ago. Demand for homes is expected to fall further this year because of pressure on household incomes and weak consumer sentiment.Personal income and outlays for July will be released at 8:30 AM ET. Consensus is for a 0.3% month-over-month change in personal income and 0.5% month-over-month change in consumer spending. Pending home sales index for July will be released at 10 AM ET. Consensus is for -1% month-over-month change in the index. Follow the release at Money Game >Hurricane Irene was downgraded to a tropical-storm but left parts of the east coast devastated. It has already killed 21 victims in eight states, and left millions without power and is expected to move to Canada today.Please Note: Business Insider will never share your information with any other companies. You also have the ability to unsubscribe from these newsletters at any time simply by following the unsubscribe link located at the bottom of each email

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NYSE Plans To Ring The Opening Bell Monday Even As Irene Threatens New York

For Wall Street, it's business as usual.

The New York Stock Exchange is planning to open on Monday even as hurricane Irene charges up the eastern seaboard toward New York.

"Our plan is to ring that bell Monday morning at 9:30," Lou Pastina, the head of floor operations for the NYSE told CNBC.

As part of the NYSE's contingency plan, Pastina said some traders and people at member firms have already booked hotel rooms.
He also said the NYSE has generators for power if necessary. 

What's more is if there is a delay, the NYSE also has electronic exchanges such as Arca so trading can take still take place.  

Yesterday mayor Michael Bloomberg issued the first mandatory evacuation in the city's history for low-lying areas prone to storm surge and flooding. 

Those in what has been designated as zone A will have to evacuate by 5 p.m. ET on Saturday. 

The NYSE is not in zone A, but banks such as Goldman Sachs on 200 West St. and Citigroup's TriBeCa offices on 388 Greenwich St. are located in the evacuation zone.  Firms such as Nomura Securities, Merrill Lynch Wealth Management and RBC Capital Markets are also in Zone A.

Public transportation might also be an issue for those trying to commute to the city.

The MTA also announced buses, subways, Long Island Railroad and Metro-North will cease operations Saturday at noon.

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