SYDNEY — The Westfield Group is restructuring its $66 billion retail empire.
Shareholders in Westfield Retail Trust, Australia's largest listed retail property trust, voted Friday to merge with the Australasian business of the connected but separately-listed Westfield Group. The merger will pave the way for the creation of two new independent companies that will manage the group's portfolio of 87 shopping centers in Australia, New Zealand, the U.S. and U.K., worth 70 billion Australian dollars, or $66 billion at current exchange.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"