John Sanders, acting commissioner of U.S. Customs and Border Protection, is resigning amid outrage over his agency’s treatment of migrant children—particularly toddlers and babies that were locked up in a remote Texas facility. The CBP, however, has moved 100 children back to the same location that triggered the controversy. Six migrant children held by the government have died in its custody since late 2018. —Josh Petri

Here are today’s top stories

The Kushner family built a fortune on suburban rental properties before purchasing the first six floors of the Times building in New York for $296 million. A toxic brew of debt, conflict and vacancies has put their investment in jeopardy.

Fed Chairman Jerome Powell said the downside risks to the U.S. economy have increased recently, reinforcing the case among policy makers for lower interest rates.

The Dead Cow, a shale formation in Argentina, has finally produced oil after $13 billion worth of exploration over eight years. 

SpaceX, which launched its massive Falcon Heavy again this week, makes up two-thirds of Elon Musk’s net worth. 

Reality TV stars have plenty of real-life drama. Bloomberg Businessweek presents the real exploits of the real husbands of real housewives.

Facebook’s messaging apps have more than 1.5 billion users, but generate almost no revenue. The company’s new plan for cryptocurrency could change that.

What’s Joe Weisenthal thinking about? The Bloomberg news director is watching people sell their old jewelry as gold prices surge to a six-year high. This latest rally is turning even skeptics into metallic believers.

What you’ll need to know tomorrow

• U.S. nursing home prices are skyrocketing, with no end in sight.
• Wayfair may protest the company’s border camp contracting.
• Citigroup is killing some credit-card perks.
• San Francisco is set to become the first city to ban e-cigarettes.
• Melania Trump’s spokeswoman goes to work for her husband.
• A European heat wave has people desperate to cool off.
• Mirazur tops Noma for the title of world’s best restaurant.

What you’ll want to read tonight in Businessweek

On the Hunt For the Redwood Poachers 

Plant theft in U.S. parks is worsening as social media stokes a desire for obscure flora. In the past, the chances of identifying and prosecuting poachers was slim. But technology has improved the odds. We tag along with U.S. Forest Service rangers hunting the poachers.

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