Unibail-Rodamco-Westfield

The move comes after shareholders rejected a €3.5 billion ($4.15 billion) rights issue under pressure from activist investors.

Europe's largest property firm Unibail-Rodamco Westfield raised its full-year earnings guidance on Wednesday after reporting strong first-half growth in tenant sales at its flagship European and American retail centres.

With visitors only spending an average of about half an hour at the mall, its operator plans remain relevant with more food choices, seating, pop-up shops, health and wellness options and entertainment.

At BoF's second annual West Coast summit, Serena Williams, Elizabeth Banks and industry leaders from fashion, wellness and technology broke down how they are rewriting traditional business models.

Shop vacancy rates are rising across the board, with local high streets hit the hardest and the recent Yellow Vest protests further causing store closures.