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...“These conflicts appear to have reduced recoveries, even as they have enriched S&C.”...
...With just 1.2bn people having an income above $12K a year, Apple is valued on an EV per pop of c$2,300, which requires c$800pp of annual spend, on the global equity strategy team’s calculations. 4....
...Barclays made a net loss of £111mn, beating analysts’ estimates for a loss of £123mn, but compared with a profit of £1bn in the same period in 2022....
...The downturn in the eurozone’s struggling economy is easing, according to a closely tracked business survey, which found a stabilisation of activity at services companies offset a steep decline in manufacturing...
...S&P declined to comment and Visible Alpha did not respond to a request for comment....
...appear that S&C may have some problems,” he added....
...S&P Global Ratings said in a report on Thursday that triple C borrowers would “contend with weak cash flow and elevated interest expenses this year”, while “defaults in 2024 [would] largely come from consumer-facing...
...Typically, these are to either a) pay cash coupons; b) toggle to ‘pay’ bondholders with more debt claims, albeit with some additional penalty (even more debt claims); c) to PIK for a while then switch to...
...But for F1, the Red Bull drama is a major, unwanted distraction. The head of F1’s governing body told the FT last week it was “damaging the sport”....
...American Express Global Business Travel has agreed to buy rival CWT for $570mn in a bet on the continued recovery of business travel....
...This matched a wider trend in which S&P 500 spending on buybacks fell 14 per cent on the previous year....
...The new body should “harness the private sector to catalyse areas of strategic national interest, such as life sciences, professional services, technology and entertainment”, wrote Venkatakrishnan....
...Google has agreed to pay C$100mn a year into a fund to support news organisations in Canada as part of a deal with the government, ending a dispute that led it to threaten to cut links to news from its services...
...Washington D.C., March 18, 2024 — The Securities and Exchange Commission today announced settled charges against two investment advisers, Delphia (USA) Inc. and Global Predictions Inc., for making false...
...The valuation of the rest of the S&P A week or two ago, we wrote a piece implying that the Magnificent Seven tech stocks were not, as a group, in a bubble....
...But financial pressures hang over the Belfast plant, which has not made a profit since 2016 and has been hit by supply chain squeezes and inflation despite a recovery in the global airline business since...
...*Ignites Europe is a news service published by FT Specialist for professionals working in the asset management industry. Trials and subscriptions are available at igniteseurope.com....
...Alibaba’s restructuring plan was initially met with investor enthusiasm, which faded with growing pessimism about China’s economic recovery....
...M&S, meanwhile, has been reaping the fruit of a revival plan meticulously executed by Machin in recent years, which catapulted it back into the FTSE 100 last year as its recovery picked up pace....
...Hedge funds and asset managers can buy those instruments, and trade them in Macau — a place better known for casinos than financial services....
...Assume, then, that TMTG’s weighted average cost of capital falls from more than 20 per cent to 5-6 per cent, the S&P 500’s average WACC. Even then, we’re only at $51....
...As companies tackle digital overhauls of their businesses — from homeworking to customer relationship management — they are increasingly relying on external providers for information technology services...
...SRT transactions have picked up, more than doubling globally to €200bn in the two years to 2022, according to data from S&P Global....
...TCI made $12.9bn for investors and ended last year up 33 per cent, ahead of the S&P 500 index’s 24 per cent rise....
...What were once fairly rough measures of financial markets — often calculated with slide rules by a few niche newspapers as a dull but worthy service to readers — now exerts power over them....
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