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...The group expects its first quarter net trading revenue will be roughly $4.4bn, more than double the level it achieved a year prior and up 35 per cent from the end of 2023, according to documents reviewed...
...It does not reflect the growth potential and prospects of the company under a new management team” or a modernisation programme under way, among reasons for the rejection....
...A sales report from broker Redburn last year said: “If it’s a private road with 20 houses collecting annual subscriptions, does it need bookkeeping software? Does it need to send out e-invoices?...
...This resulted in a writedown to just £4.3mn after a third-party valuation....
...After DWS restated the data for 2023, a €4.4bn inflow into the asset manager’s high-margin flagship “active multi-asset” strategy became a €1.7bn outflow when stripping out an advisory mandate for another...
...Five more top stories 1....
...GDP per capita, which matters for living standards, is 1.2 per cent below its level on the eve of the pandemic, compared with a 5.4 per cent expansion in the four-year period up to the end of 2019....
...The WTO, which does not provide forecasts for services trade, expects goods trade to rise by 2.6 per cent in 2024, after falling by 1.2 per cent last year....
...At less than 1 per cent of its market value annualised that is not much compared with the average of more than 4 per cent achieved already, or coming, from European and UK banks, according to Citi estimates...
...That is a big push for a group that generates €4.5bn of cash flow a year. It also means Kering has a lot on the go....
...That picture is replicated across the eurozone, where the rate stood at 6.4 per cent in January, down from 6.5 per cent in December and 6.6 per cent in January 2023....
...Special FT subscription offers for Life and Art podcast listeners, from 50% off a digital subscription to a $1/£1/€1 trial, are here: http://ft.com/lifeandart — Clips this week are from A24 Read a transcript...
...Goldman Sachs estimates that AI-related investment could rise to between 2.5 per cent and 4 per cent of GDP in the US, compared with 1.5 per cent to 2.5 per cent in other leading economies....
...Sterling fell slightly following Ramsden’s speech, trading 0.4 per cent lower against the US dollar at $1.239....
...Special FT subscription offers for Life and Art podcast listeners, from 50% off a digital subscription to a $1/£1/€1 trial, are here: http://ft.com/lifeandart Read a transcript of this episode on FT.com...
...1!...
...That’s only 1.3 per cent ahead of the Norwegian sovereign wealth fund’s longterm annualised returns of 6.1 per cent, and that’s basically a giant index fund that was until ca 2009 mostly in bonds, and has...
...Sales in petrol stations were up 3.2 per cent in March, household goods stores reported a 2.4 per cent expansion and sales at clothing stores rose 0.5 per cent....
...(c) Where does the king go, Yasser? Chess: 2354 1 R4xh5+ gxh5 2 Qc7+! (2 Rxh5+? Kg6! is only a draw) Kh8 3 Qe5+! Kh7 4 Rxh5+ Kg6 5 Qg5+ Kf7 6 Rh7+ Ke8/f8 7 Qe7 mate. Chess: 2353 1 Rh4! h6 2 Bh2!...
...However, the number of first-time home buyers jumped from 14.1 to 20.4 per 1,000 in London between 2019 and 2023, while elsewhere it only rose from 12.7 to 14.4 per 1,000....
...Annual inflation dropped to 4.1 per cent in the December quarter, a sharp reduction from the 5.4 per cent recorded in the September period, and the RBA reduced its inflation forecasts as a result....
...US gross domestic product would expand by 2.1 per cent this year, officials predicted, compared with their previous forecast of 1.4 per cent....
...Today, the index ROIC is struggling to hang on in the 3-4% range....
...The select committee’s data included figures for multiple framework agreements, a type of contract with suppliers that does not require the government to procure the full amount of quoted services....
...In October, home sellers in Missouri won nearly $1.8bn in damages from the NAR and several large brokerages in a jury trial. The plaintiffs asked the judge to triple that amount to $4.7bn....
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