Hints and tips:
...“We had a lot of good news in recent months, helped by falls in inflation,” said David Hollingworth, associate director at broker L&C Mortgages....
...It drives on two wheels, and is self-balancing – a little like a Segway – so you’re always upright while sitting on it....
...The resident staff are on hand to sabre champagne upon your arrival, advise on ski conditions and drop heliskiers off at the heliport, a five-minute drive away.From C$12,500 (£7,493) per night for up to...
...Safari Drive arranges self-drive trips across southern Africa in a 4x4 Toyota Land Cruiser equipped with a rooftop tent and camping equipment....
...Its model has been widely adopted across Canada’s public sector — CPP Investments, established in 1999 to oversee and invest the assets of the Canada Pension Plan, has grown from just C$12mn to C$536bn and...
...As such, we see the CET1 ratio dropping below the interim target in 2024 (as a result of losses), but still above regulatory minima at c.12%....
...The programme has two objectives: to drive women’s emancipation through professional beekeeping and to raise awareness of how essential bees are to Earth’s biodiversity. guerlain.com; unesco.com H is for...
...“There are no equivalent 100 per cent mortgages in the standard market,” says David Hollingworth of UK mortgage broker L&C....
...He credits his huge majorities in 2015 and 2017 to the “small-L liberal conservative values” that underpin the seat — though his personal politics are those of a steely-eyed Brexiter....
...They left the fray after Mr Holmes’s wife suffered a head injury, and returned to their car to drive home overnight so she could return to work on Thursday....
...We focus on FCF, and use a 4% yield in FY22 to drive our PT....
...L-f-l rents down 27%: net rental income fell down to just £87.3m which represents a l-f-l fall of 27% (excluding premium outlets), as a result of covid and the reduced rent collection rate....
...Because of its merger with Sprint in Apr-20, TMUS's portfolio of spectrum below 6 GHz is now c.3x that of Verizon and c.2x that of AT&T....
...However, at c.18x recovered earnings, we’d prefer to look elsewhere or wait for a cheaper entry point....
...So therefore, there's a concern, I think, that on the supply side, which will probably drive prices higher. So could we see $100 oil again because of this lack of investment?...
...High drop-through set to drive consensus upgrades....
...France L&S and Italy will not pay dividends this year, and XL Bermuda is unlikely to. The slack is only partly taken up by France P&C which is over distributing....
...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 believe this is likely to drive shares lower this morning. Current FY20 consensus: Revenue: £3,305m; Adj. EBITDA: £367m; Adj. PBT: £128m; Net Debt: £1,358m; FCF c. £25m....
...Assuming the group continues to run with a 5 year land bank model, this incremental investment would mean it is able to drive c.17,000 units in the longer term, a c.10% increase on previous peak....
...net debt of c£18.9bn....
...We note the c.30% premium to key peer Sodexo....
...3) L'Oréal's exposure to Professional Hair Care, Department Stores / Perfumeries and Travel Retail is ~ 50% of sales....
...We forecast an avg month-end net cash position in FY20 of c.£190m, (from £324m at FY19)....
...Against the general trend, yesterday Ferrari confidently guided to a V-shaped recovery in its P&L from H2/20....
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