Hints and tips:
...Pension funds and insurance companies, in particular, have an opportunity to lock in an asset mix that matches their liabilities. But while demand may explain spreads, it does not justify them....
...(2022: loss £0.9m), underlying profit before tax of £3.9m (2022: £5.8m) and net liabilities of £0.4m (2022: net assets of £0.7m)....
...b. Line of Credit: On multiple occasions, Bankman-Fried directed FTX to increase the amount by which Alameda could maintain a negative balance in its account....
...Overall we suspect that the peak in the Bank rate will be limited to 4 per cent....
...If the bondholders call in their debt, M&B could sell some of its 1,356 securitised pubs (last valued at c£4bn) to pay off c£1.7bn of notes and c£0.3bn of MTM swaps....
...Valuation upside more limited - The shares have performed very well (+8% YTD) after a strong performance last year, now trading on a c.20-25% premium to the 5-year average and at a c.25% EV/EBITDA premium...
...in triple-C territory, according to BofA....
...As at June 2020, FGP has c£850m of cash and committed undrawn facilities....
...Company commentary supports our view of limited direct impact to P&C : Hannover Re: noted a potential €200m loss across P&C and L&H; Munich Re: noted a €500m loss should all the events it covers for communicable...
...From a balance sheet perspective, net cash as at the 30th of June is c£305m, this is down from c£430m at the last update with the timing of land payments flagged in the statement....
...There are another 18 Chiquito sites in another limited company, which are not at threat at this stage. There are no Chiquito sites in the Concessions division....
...UK recovery will be slower than peers: (a) larger service sector: (b) weakness of business investment: (c) lack of clear social distance messaging....
...Apart from negative l-f-l rental and value growth, we assume recapitalizations to an LTV of c.35% by 2021 lowering the EPS and NAV by c.49% and c.61%....
...We estimate the group entered the year with a modest cash position on a pro-forma basis but has c£250m of lease liabilities (pro-forma)....
...It said that the relevant index for pension increases for members in its section A and B schemes remained the CPI....
...Times Limited (the “Financial Times”), any group companies of the foregoing and their families and any other company connected with this competition....
...Any transition of any kind will need to fulfill three conditions: it must (a) be clearly defined, (b) limited in time, and (c) subject to effective enforcement mechanisms....
...American companies that want to invest have unlimited access to cheap savings. In fact American corporations are sitting on huge piles of cash which they refuse to invest. What does that mean?...
...Tax revenues are not unlimited....
...After all, IFRS was developed for companies, not governments, even if the principles aren’t inherently limited to profit-seeking enterprises....
...These include: a) portfolio outflows, b) the private sector experiencing difficulty rolling over hard currency debt, c) FX buying by households, and d) a widening in the current account shortfall....
...That leaves A, B, and C. Properly understood, none of those statements are wrong, although the test-makers want you to pick C....
...The joint stock limited liability company was conceived in the 19th century to cope with the challenges of its era: the need to raise capital, encourage risk-taking and protect the entrepreneurs of the time...
...company number 227590....
...b) ordered a steak, with a veal chop on the side? c) swore when told which football team the FT’s editor supported? 33....
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