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...And a court fight to start: A former top investment banker at Centerview Partners did not strike a valid agreement to become a full-fledged partner at the elite advisory firm during a restaurant meeting...
...Usher adopts the familiar romantic roles of seducer, stoical ex, upset ex, uxorious partner and charming rogue....
...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....
...Last year, nearly 14 per cent of S&P 500 companies faced shareholder proposals to split the roles, up from 6 per cent in 2021. Support for the proposals has averaged about 30 per cent....
...“All of that then leads you to a view of net zero happening later,” Grant Dougans, a partner at Bain, told Energy Source....
...His Berkshire Hathaway B class shares, at $420, offer a relatively cheaper entry....
...We’ve divided the issuers up by their primary exchange and overlaid short-interest data from S&P Global, accurate to February 23....
...Likewise, S&P Global Mobility surveys suggest stable EV loyalty, measured as the share of EV owners whose next car was an EV, especially for Teslas....
...The rating agency in May cut SoftBank’s long-term credit rating from double B plus, its highest non-investment grade, to double B following record investment losses....
...In the US, the S&P 500 had its best first quarter since 2019. Fixed income funds reported inflows of $42bn and equity funds received $18bn, for total long-term flows of $76bn....
...In contrast, the S&P 500’s price-to-book ratio is close to the record 5 times it touched in 2021 and 2000 (the Nasdaq’s P/B ratio is close to 7.5 times)....
...“Our view is that for reasonably high-quality businesses, there will be interesting ways to access capital,” said Ed Testerman, partner at investment management firm King Street Capital....
...State Street Global Advisors’ SPDR S&P 500 Ucits ETF has attracted €2.7bn in net inflows over the three months since its fee was cut to 0.03 per cent in November last year....
...Global Infrastructure Partners was different....
...“We finally started making . . . the S-O-S sign,” she recalled. She suspected that one of the partners who owned the building had locked them out because he did not want to sell....
...He has made it his mission to significantly reduce the proportion of companies with languishing P/B ratios, to bring the TSE to levels closer to those in the US (5 per cent of S&P 500 companies) and Europe...
...S&P rates BPY’s debt BBB-, the lowest investment grade credit rating....
...Traders are marking a riskier £250mn “class B” bond at little over 60 pence in the pound....
...Canyon Partners....
...Since 1964, Berkshire shares have returned 4.4mn per cent, far outstripping the 31,233 per cent gain by the benchmark S&P 500....
...Hidden threat B. Riley Financial is under fire for funding a buyout linked to a firm that prosecutors call a fraud, The Wall Street Journal writes....
...Charles Peabody of Portales Partners disagrees with Kelly....
...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....
...According to S&P Global, in the first nine months of 2023 global private equity investments had an aggregate value of $365.3bn, a decline of 44 per cent year over year....
...The timing was fortuitous: Graham, Buffett’s mentor, had just retired and Buffett needed a new sparring partner with whom to discuss investment ideas....
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