Hints and tips:
...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...
...He wrote: “We don’t know yet whether the consequences of easy money and regulatory changes will cascade throughout the US regional banking sector (akin to the S&L Crisis) with more seizures and shutdowns...
...The next two days are spent hiking, visiting Byzantine rock churches, underground cities such as Mazı — a regional refuge from persecution since it was first excavated around the Roman period — and warming...
...“If we can execute our Series C [funding] and go regional in the next two years, in the third year we could do an international IPO.”...
...L’état, c’est moi’ The personalisation of postwar French politics can be traced back to the domineering de Gaulle, who oversaw the creation of the system that has endowed the president with substantial...
...C’est ça l’écologie....
...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....
...The u/l WC outflow was £16.6m vs £3.9m last year, DSOs increased to 65 days (from 56) as an unwind in receivables was offset by higher accrued income (£57m from £51m at y/e, despite declining sales); the...
...at the ‘C-suite’....
...According to Bloomberg, consensus is currently forecasting PBT of c£185m (giving EPS of c6.9p) in FY 2020/21 and c.£340m (12.7p) in FY 2021/22....
...The main risk to demand in FY21 is regional lockdowns, but the strong homewares trend should sustain a strong sales rate for much of FY21, in our view....
...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%....
...Oréal announced changes to regional products in response to the global anti-racist movement....
...According to its last trading update (3 April 2020), commercial sales at its regional bus companies were at c.15% of ‘normal’ levels....
...Here’s Investec (sell) to summarise: [L]ockdowns are impacting consumption in North America (c. 30% of sales), Europe (c. 20% of sales), India (c. 10% of sales), Africa (12% of sales) and many countries...
...Legal & General’s leading the FTSE 100 risers, having put two fingers up to both the EIOPA and regional regulators late Friday by saying it still intends to pay its 2019 dividend....
...This all loops back to the regional subsidiary oversight thing we wrote about a few days ago, though Jefferies says “nah”: While we agree that canceling the dividend is the prudent decision under the circumstances...
...We note UK regional RevPAR growth has remained at -2.1% YTD (vs. -1.7% 3mma)....
...This action frees up c£2.5bn in cash flow for other uses and protects the BBB+ credit rating, according to the company....
...The division is margin dilutive to the Group at a c.13% operating margin (Group c.18-19%)....
...Credit insurers would be affected by an increase of defaults on payments of receivables caused by supply-chain disruption (among other factors)....
...David Hollingworth, director at L&C, a mortgage broker, says borrowers in such cases might consider an offset deal, which allows the mortgage advance to be held by the bank and used to reduce or offset the...
...important, c’est de participer,” — “It’s the taking part that counts.”...
...“We need an objective capability assessment as to what the UK truly needs,” said Nicholas “Flash” Gordon, director international programmes for L-3, which is offering a variant of Bombardier’s Q400 regional...
...The group also described trade receivables — amounts recorded as sales but not yet collected from customers — of £560m, about £470m of which appeared to relate to the legal business....
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