Hints and tips:
...Sure, a CCC-rated PIK bond looks better than a defaulted bond in your portfolio. But, as S&P puts it when explaining why U.S....
...Analysts estimate Opec+ has about 6mn b/d of spare capacity it can unleash on to global markets to lower prices if they spike into the triple digits to prevent demand destruction....
...The IEA forecasts crude consumption to increase by 1.3mn barrels per day this year while Opec this week maintained its growth estimates of 2.25mn b/d for 2024....
...They’re digital tokens backed either by a) dollar-denominated portfolios of safe assets; b) unaudited promises that they have safe assets; or c) magical confidence maths that only work until a death spiral...
...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)....
...(either via Bluetooth or a 3.5mm jack) and delivers it through two speakers at ear height and subwoofers in the seat....
...Yet despite its strengths (and a few standalone tracks, including 2021’s acronym-fuelled “FUCK”), you still got the sense that she was biding her time....
...Revenue climbed 21.3 per cent, driven by a Cadbury cake sales uplift after unscheduled maintenance of a plant line last year....
...On a relative value basis, the chart above makes me think that I might rather just own Treasuries. The five-and 10-year Treasury bonds both yield about 4.3 per cent....
...A separate report released on Tuesday by S&P Global Ratings painted a similar picture, with global defaults jumping by four-fifths last year to 153....
...Don’t get me wrong, I love a biker jacket or sheepskin flying jacket, but I somehow feel a little fraudulent wearing them, since (a) I do not have a motorcycle licence and (b) nor do I pilot a biplane....
...(d) Dividends provide an extra 10%+ return. This is based on est. $12B of cumulative dividends over 3 yrs. on market cap <$100B....
...Waitrose is only slightly ahead of M&S in the grocery market, with a 3.6 per cent market share this month versus the latter’s 3.4 per cent, according to data provider NIQ....
...Now try this Caroline Shaw, one of my favourite living composers, was BBC Radio 3’s Composer of the Week last week, and a delightful guest she was too....
...(a) (of a gem) uncut, unpolished; (b) (of water) undistilled; not filtered; (c) (of alcoholic spirit) undiluted; (d) (of grain) unmalted, undried; (e) (of sewage) untreated. I.2.e....
...(Myles McCormick and Amanda Chu) 3....
...Here’s why S&P is making the U-turn....
...chief Fred Goodwin on the fly to see if he’d finance a deal....
...of a libertarian/conservative flavour, and that (b) McKinsey is a consultancy with a strong incentive to say what its corporate clients want to hear....
...“It’s been a fucking difficult week,” admitted one ally of Sunak, reflecting on Number 10’s maladroit handling of a dispute over a leading Tory donor, Frank Hester....
...Under 28 U.S.C. section 1408, a company can file bankruptcy in any district where it has its domicile, principal place of business, or principal assets for 180 days prior to bankruptcy....
...That compares with 0.2 per cent for the Stoxx 600 ex-UK and 0.7 per cent for the S&P 500. AJ Bell has revealed that cash accounts for 13.3 per cent of its retail customer assets....
...About 7mn barrels a day of crude oil and refined products flow through the Bab-el-Mandeb strait but the route has become vital for Russia to export to Asia with 4mn b/d heading south, according to Kpler...
...Russia said its 300,000 b/d export reduction would also stay in place until December....
...In results announced this week, F1’s annual revenue increased to $3.2bn in 2023, up from around $2.5bn a year earlier. Operating profit increased by 64 per cent year on year to $392mn in 2023....
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