The property management company owned by Jared Kushner has been accused by Maryland’s attorney-general of levying unfair charges on thousands of residents and leaving many to live in apartments infested with vermin and mould.
Ford lowered its full-year profit outlook after booking weaker earnings in the third quarter, citing slower sales in China and the need to offer bigger discounts in North America among other headwinds.
While Facebook’s Mark Zuckerberg faces a mounting stack of federal and state investigations into its competition and privacy practices and a grilling in Congress today, smaller rival Snap can celebrate.
Blackstone celebrated a bumper quarter in its real estate division, notching up profitable property sales and raising a $20.5bn war chest that is the sector’s largest ever fund, helping push the firm to a decisive earnings beat.
US industrial bellwether Caterpillar slashed its profit forecast for the year, blaming trade tensions and uncertainty in the global economy, as it posted a bigger than expected decline in quarterly revenues.
Snap said it expected to hit its target of turning a profit by the end of the year after posting a strong revenue beat and shrinking losses in the third quarter, but its forecasts fell short of analysts’ predictions for the fourth quarter.
US stocks and the British pound turned south after UK parliament voted in favour of Boris Johnson’s deal to withdraw Great Britain from the EU but subsequently voted against an accelerated timetable for Brexit.
Energy suppliers in Britain could be forced to submit to independent financial audits under new rules to tackle the tide of smaller electricity and gas companies that have gone bust in the past three years.
The German government is set to nominate Isabel Schnabel, an economics professor and government adviser, to the executive board of the European Central Bank, marking a potentially important shift in both strategy and policy.
Continental, one of the world’s largest automotive suppliers, announced it would take €2.5bn of impairment charges, as it warned of a deep decline in the car industry exacerbated by weak growth in China.