Blackstone Group LP, the largest private-equity firm, agreed to buy a majority stake in 40 U.S. shopping centers from UBS AB property funds in a deal valued at about $1.1 billion, as it expands its retail holdings.
Clifford Asness , who runs AQR Capital Management LLC, one of the world’s biggest hedge funds, says fellow fund managers gouge their clients by charging exorbitant fees for just tracking the markets. He also takes a dim view of the administration of President Barack Obama , calling his economic team “Cossacks on a shtetl,” a reference to the Russian cavalrymen who sacked Jewish villages in Eastern Europe in the 19th century.
Simon Property Group Inc., the largest U.S. mall owner, plans to spin off its strip-center business and smaller enclosed malls into a new real estate investment trust. The shares gained the most in two years.
There’s been an unexpected rise in seven types of less-common cancers in the U.S., in some cases linked to growing obesity rates, says an American Cancer Society report urging more study to determine the underlying causes.