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...Kingfisher, owner of the B&Q, Screwfix and Castorama DIY chains, has warned that profits will fall again this year, after a 25 per cent drop in the year to January....
...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)....
...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...
...“The best way to get from plan A that’s not working to a plan B that might work is to formulate hypotheses, test them with real data, and let the data speak.”...
...The blue-chip S&P 500 dropped 0.9 per cent on Friday, capping its longest losing streak since October 2022. It fell for the third week in a row, losing 3.1 per cent across five sessions....
...) big enough to make a meaningful impact on Berkshire’s earnings, (b) possible to reliably value, (c) have trustworthy and competent management, and (d) are available at a reasonable price....
...The lower gardens feature a Doric temple, obelisk and a pond with a fountain....
...No mention of the B-word, then....
...Palazzo Passerini is a three-bedroom residence that can be booked on a B&B basis or bought out in exclusivity by a total of six guests....
...Anyway, back to the S&P report. They reckon that debt maturities of firms rated single-B or lower will be around $310bn in 2025, rising to $400bn in 2026....
...As a result, equity markets are already more jittery — not a positive for oil. Since 2000 oil prices have rarely continued rising when the S&P 500 has a sustained decline....
...“Significant budgetary consolidation has placed Greece’s fiscal trajectory on to a firmly improving track,” said S&P’s analysts, who attributed a “stable” outlook to the country....
...Ours by Phillip B Williams, Granta £18.99, 592 pages Join our online book group on Facebook at FT Books Café and subscribe to our podcast Life & Art wherever you listen...
...In a Monday update, the rating agency moved Ford up to triple-B minus from double-B plus....
...S&P said it originally expected the war would not last “more than six months” as it downgraded Israel’s sovereign credit rating from double A minus to A plus....
...The benchmark S&P 500 fell 0.2 per cent on Thursday afternoon, notching five straight daily losses for the first time since October....
...The S&P 500 notched its first gain of the week, recovering from a back-to-back decline, as traders took in new data that indicated a softening US economy....
...The Danish singer-songwriter has the softest of voices, a murmurous tone that holds centre stage without exerting itself. The style is R&B, a genre famous for vocal ornament....
...The S&P 500 declined on Thursday, headed for its fifth straight loss since October....
...US blue-chips ended their best quarter in five years, with the S&P 500 squeezing out a 0.1 per cent gain even as big tech names including Apple, Tesla and Meta dragged the Nasdaq Composite to a similar-sized...
...Meanwhile, the dollar was up 0.6 per cent against a basket of six peers and on track for a four-session winning streak....
...More than 90 per cent of S&P 500 stocks closed higher on Wednesday, as a broad rally in late trading lifted the benchmark index to its first record high in almost a week....
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