Westpac's RAMS Financial Group has been fined USD 13 million for home loan misconduct involving falsified payslips and dealings with unlicensed mortgage operators. Between 2019 and 2023, the subsidiary failed to supervise representatives properly and did not ensure customers were protected from conflicts of interest. RAMS stopped issuing new loans last year and completed remediation in 2024. The penalty was already reflected in Westpac's 2025 half-year results. The case follows ongoing regulatory scrutiny of Australian banks, including ANZ's record AUD 240 million fine for multiple breaches.Read more

Extra Space Storage Inc., one of the leading self-storage real estate investment trusts (REITs) in the United States, announced financial results indicating steady operational performance but softer growth expectations for 2025. The company projected annual core funds from operations (FFO) between USD 8.12 and USD 8.20 per share, slightly below Wall Street's average estimate. Despite a modest decline in same-store revenue and higher operating costs, total quarterly revenue surpassed expectations. The company continues to face pricing and occupancy challenges but remains optimistic about gradual market stabilization.Read more

Allied Properties Real Estate Investment Trust (TSX: AP.UN) reported a 3% decline in operating income for the third quarter compared with the same period last year. The company attributed this to a slower pace of lease signings, which has limited occupancy growth across its portfolio. Higher interest expenses, up 13.2% year-on-year to CAD 35.5 million, further impacted earnings as property sales were delayed. The REIT expects its same-asset NOI to fall by 1% in 2025 and anticipates a 10% decline in diluted FFO and AFFO per unit, while confirming it will not meet its 90% occupancy goal by year-end.Read more

Forestar Group Inc. reported a 22% year-on-year increase in fourth-quarter revenue to USD 670.5 million, surpassing analyst expectations. The company sold 4,891 lots during the quarter, down 9% from last year, but higher lot prices helped boost overall revenue. Net income declined 17% for fiscal 2025, reflecting increased costs and lower lot sales. Forestar expects to deliver 14,000-15,000 lots in fiscal 2026 with projected revenue between USD 1.6 billion and USD 1.7 billion. The firm emphasized its solid liquidity position and ongoing support from homebuilder D.R. Horton.Read more

The Green Climate Fund (GCF) has approved a record USD 295 million in grants and concessional loans to support Jordan's USD 6 billion Aqaba-Amman Water Desalination and Conveyance Project. The initiative aims to provide around 300 million cubic metres of desalinated water annually to almost half of Jordan's population. With rising temperatures, declining rainfall, and severe water scarcity, the project has become a national priority. The United States and other partners are also extending financial support, making this one of the largest water projects in the region.Read more

Singapore has allocated about 300 hectares of land on Jurong Island's western side for renewable energy projects and low-carbon fuel production, and an additional 20 hectares for the country's largest data centre park with a capacity of up to 700 megawatts. The initiative, led by the Economic Development Board (EDB) and JTC Corporation, aims to strengthen Singapore's clean-energy ecosystem and support digital infrastructure growth. The move aligns with national goals under the Singapore Green Plan 2030 to promote sustainable industrial growth and lower carbon emissions.Read more

Foxtons has warned that fourth-quarter sales could fall short of expectations due to uncertainty created by the delayed UK autumn budget. The company said buyers are taking a cautious approach, adopting a "wait and see" attitude amid existing challenges in the housing market, including inflation, slower interest rate cuts, and global economic pressures. These factors have contributed to subdued demand and caused Foxtons' shares to drop sharply. The update underscores the continuing impact of fiscal and economic developments on buyer sentiment and market activity in the UK.Read more

Australian shares declined for a second consecutive session, pressured by weakness in real estate and discretionary sectors after inflation data surpassed forecasts. The benchmark S&P/ASX 200 fell 0.3% to 8,898.30, following a 1% drop earlier in the week. Consumer price index data showed a 1.3% rise in the third quarter, exceeding expectations of 1.1%, largely due to higher housing and travel costs. With inflation running higher than anticipated, investors scaled back expectations of an interest rate cut by the Reserve Bank of Australia, with fewer than 7% now expecting policy easing.Read more

Airbus, Leonardo, and Thales have signed an MoU to merge their space operations into a single European company, excluding space launchers. The entity will consolidate satellite manufacturing, space systems, and services, supporting telecommunications, navigation, earth observation, science, exploration, and national security. Headquartered in Toulouse, France, it will employ around 25,000 people and target an annual turnover of EUR 6.5 billion, with a backlog covering three years of projected sales. Airbus will hold 35%, while Leonardo and Thales will each own 32.5%, aiming for operational synergies and global competitiveness by 2027.Read more

Plymouth Industrial REIT has announced its decision to go private through an acquisition by Makarora Management and Ares Management, valued at approximately USD 2.1 billion including debt. The Boston-based REIT's shareholders will receive USD 22 per share. The move follows an earlier unsolicited offer from Sixth Street Partners, which had proposed USD 24.10 per share. The deal includes a go-shop period allowing Plymouth to seek alternative proposals.Read more