Hints and tips:
...Rieder: I’d say it’s a B-. But it’s not a C. Why are you getting these sorts of yields in credit today? You’re getting them because the risk-free rate is so darn [high]....
...Up until now, the PGA Tour has been a commercial animal, it has been incredibly successful,” says Steve Martin, chief executive of M&C Saatchi Sport & Entertainment....
...The TTC estimates it can complete its upgrade programme for less than C$8mn (£5mn)....
...Delysium / KUROSEMI INC. ??? Orderly ??? Sui Token Warrant ???...
...But I’m sure C&K will be.” Benjamin Parkin is the FT’s South Asia correspondent. Alice Hancock is the FT’s leisure industries reporter....
...Or at least the Cigna C-suite....
...We think it’s largely right that the gaming sector will enjoy a V-shaped recovery as sporting events resume....
...However, in the context of a challenging retail consumer environment, revenue recovery in 2021E still leaves H&M revenue c.-5% below 2019....
...Securitas has no covenants while we see c.0.5x headroom to G4S’ covenant at Dec. Securitas could restart its DPS and M&A in 2020. Earnings valuations are at lows vs. the market....
...GILD’s c$15bn cost base vs $11bn core op.income, of which c$5bn lies in R&D/SG&A), but also require very significant job cuts at a time of global economic hardship....
...Total ETF holdings of gold are 20% higher than they were when we worried about positioning back in January....
...Hot Hand funds are relatively concentrated, holding just 45 companies on average, it says....
...The ONS estimates the value of land and assets-over-land to be over £5tn compared to a GDP of c£2tn....
...Sorrell to friends: “I’m not. Otherwise I wouldn’t be in this position.”...
...It was accepted by M&C’s independent directors, who had rebuffed two previous bids....
...David Kershaw, who has run London agency M&C Saatchi since 1994, says Mr Lévy’s move has renewed the focus on what rivals do next when it comes to leadership....
...Mr Mnuchin, 54, also said that he would retain an unpaid position as president of Steven T Mnuchin Inc, an entity which he uses to manage “some” of his investments....
...It’s really wrong, and I’m looking into it, legally.” -Trump....
...If nothing else, it’s one of the more fun M&A stories we’ve seen recently....
...Frank D’Amelio, Pfizer’s chief financial officer, told analysts the new company’s effective tax rate would be 17-18 per cent after the deal closes, compared to 25.5 per cent in 2014....
...I’d love to tell you I’m over it; it’s behind me. It doesn’t happen. But having said that, I do have to move on and this is part of it.”...
...But I think the US will continue to reward innovation — I’m absolutely sure of it.”...
...Mr Levin says the maturing science of the biotech sector has been an important driver behind the M&A boom, as big drugmakers scramble to refill their R&D pipelines after the heavy patent expiries of recent...
...One way to picture the economic impact of a Brexit may be the shape of a letter ‘V’ or a ‘tick’....
...(d) Other Rights....
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