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.
Whitbread, the owner of Premier Inn, reported a first-half drop in pre-tax profit and UK accommodation like-for-like sales amid “challenging” market conditions in the UK as business and leisure confidence weakened.
The US government has given Chevron and four oil service providers permission to keep working in Venezuela for another three months, extending their exemption from oil sanctions that have hit the rest of the industry in the South American country to a full year.
Germany’s central bank warned the country’s economy may have shrunk for its second consecutive three-month period, which would mean the eurozone’s biggest economy has entered its first recession in six years.
The pound held its recent gains on Monday as traders waited to find out whether Boris Johnson would be granted another vote on his Brexit deal, after a Commons defeat at the weekend left him scrambling to meet his commitment that the UK would leave the EU by October 31.
ESR Cayman, an Asia-focused logistics company backed by Warburg Pincus, is looking to raise as much as $1.45bn in a revived Hong Kong initial public offering, in the latest example of a company opting to brave the political unrest that is rocking the Asia finance hub.