Westfield Group, Australia’s biggest mall operator, plans to split its domestic and international businesses, advancing a separation of assets that began three years ago. Its shares jumped by the most in almost 22 months.
Nasdaq OMX Group Inc.’s Eric Noll, who oversaw the exchange’s U.S. trading business during a period when its reliability was criticized, left the company to become chief executive officer of ConvergEx Group LLC.
Capital Group Cos., the investment firm that created the forerunner to MSCI indexes used as a benchmark for $7.5 trillion in assets, said the regional indexes should be revised to reflect the growing globalization of companies.
Bill Miller, the stock picker who rose to fame after beating the Standard & Poor’s 500 Index for a record 15 years, bought J.C. Penney Co. debt for a new Legg Mason Inc. fund that can invest in a mix of equities and bonds.
Emerging-market stocks dropped to the lowest level in a month as OTP Bank Nyrt. dragged down Hungarian shares. The Czech koruna tumbled the most on record as the central bank approved the first currency sales in 11 years.