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...A lack of competition in Britain’s audit market and a regulatory drive for better quality have pushed up fees for London-listed companies by 75 per cent over the past five years, according to a new report...
...KPMG also failed to properly audit journal entries across a number of subsidiary companies, the FRC said. KPMG was appointed as auditor of M&C Saatchi in 2012 and resigned in September 2019....
...Garnier, who has been spearheading a turnaround of the company, said the group had identified around a third of its Castorama stores as the lowest-performing as part of a push to right-size and modernise...
...Technology, media and telecoms companies made up almost a third of the entire $174bn triple C index as of February 15, while healthcare made up more than a tenth....
...This is roughly comparable to average default rates observed in companies that receive a B credit rating from S&P (3.4 per cent) and a B3 from Moody’s (4 per cent)....
...Over the latest one-year period, the largest banks in essence originated 100% of C&I, 100% of mortgage, 63% of consumer and 57% of CRE loans provided by the banks (“the flow”)....
...Saudi Arabia’s energy ministry on Tuesday asked the state oil company Saudi Aramco to halt a planned 1mn barrels per day expansion in oil production to 13mn b/d. This had been due by 2027....
...In March, the boss of Admiral said the sector was in a “different situation” and that the FTSE 100 company had even put through a “small price decrease” recently to win business....
...They need a plan B and a plan C,” said Patricia Lenkov, an expert on corporate governance and succession.No company wants to deal with the ramifications of disaster successions such as Microsoft’s in 2013...
...Canada’s main stock index, the S&P/TSX Composite, has advanced 31 per cent since 2019, compared with a 74 per cent gain for the S&P 500....
...Canada’s main stock index, the S&P/TSX Composite, has advanced 31 per cent in the last five years, compared to a 74 per cent gain for the S&P 500....
...Nearest subway stop is Houston Street Station on the 1 line, but West 4th St (A, C, E, B, D and F lines) is just a short walk away. How much? $20 per person....
...He will probably increase the bank’s targeted return on tangible equity by 100 basis points to 11 per cent for 2025. Finally, expect some clear cash figures for shareholder capital returns to come....
...Despite the output cuts, oil prices are lingering below $75 a barrel, compared with nearly $100 in September, with the IEA noting that “global oil demand growth will slow drastically” in the current quarter...
...Patek Philippe Aquanaut (c 2019) The keen swimmer has a pool at the upstate New York home where he spends half the year, and many of his watches are water resistant to at least 100 metres....
...The country needs an oil price of closer to $100 a barrel to fund the ambitious economic reform programme of Crown Prince Mohammed bin Salman, but its efforts to cut production have not been welcomed by...
...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...
...The 75-year-old Italian businessman last summer stepped down as Pirelli chief executive after a three-decade tenure but maintains a tight grip on the company now headed by Andrea Casaluci, a close aide....
...“We intend to buy teams, like a Serie B team, and have the unlocking of value occur for two reasons: one would be eventual advancement and perhaps promotion . . . and two, just getting them inside a public...
...He also curated all the art: a painting by Wes Lang by the private lift that ascends from a discreet VIP entrance on Davies Street and 75 works by Damien Hirst....
...A Companies House keepsake is a great alternative to star-name registries and souvenir Highland titles, with even weaker KYC....
...Brent crude, the international benchmark, was little changed on the day at $87.20 in late-afternoon trading, having jumped as high as $90.75 earlier in the session....
...Half that market is double-B now; a decade ago it was only a third of the market. Beyond that, the companies issuing high-yield bonds did a good job of extending their maturities right after Covid....
...An investor with an infinite time horizon and unlimited tolerance for volatility, — if there is such a thing — should hold 100 per cent equities regardless....
...You can get a deal done for a double-B senior loan at a 300-350bp spread all day long. That market’s wide open....
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