Hints and tips:
...Businesses and households just absorb the high- rate environment, and suddenly you see home sales start to pick up again, auto sales pick up and businesses invest, and that creates a higher level of inflation...
...Her father was prime minister when brigadier Omar al-Bashir led a coup against his democratically elected government in 1989....
...Service Providers (ie Spotify, Apple et al), which improves SONG’s negotiating position. . . . . uh, great?...
...In recent weeks Next has been trading on its biggest ever valuation premium to both Kingfisher and M&S....
...Andrew Garthwaite et al at Credit Suisse has had a fiddle about with the model portfolio, resulting in insurers getting a push....
...Recent medical literature suggests that severe manifestations of COVID19 may be due to tissue damage caused by severe immune dysregulation (Li H, et al; The Lancet; April 2020)....
...some catch-up M&A in 2021, we would expect a lower amount in 2020-21 versus our previous forecasts....
...We think valuation already largely reflects a strong v-shaped recovery and so we adopt a more cautious stance on the shares. Sales densities likely to be lower in high traffic locations....
...If the bondholders call in their debt, M&B could sell some of its 1,356 securitised pubs (last valued at c£4bn) to pay off c£1.7bn of notes and c£0.3bn of MTM swaps....
...in and the t-shirt I’m going to sleep in....
...And, as lockdown measures are softened, the return of the likes of Gregg's, Starbucks et al to the UK FtG market will increase competition....
...There’s not much precedent to support the idea that Shina et al can walk away based on a MAC clause: WPP was forced against its will to buy Tempus in 2001, Guy Hands couldn’t scrap a bid for East Surrey...
...Weighing in at ~7,000 words and with 84 references, G4S’s Wiki “controversies surrounding . . .” rap sheet is longer than the ones for the Legion of Christ and Grand Theft Auto V, though not quite as long...
...These trends do not favour M&S or Primark. We reduce our sales growth to -7.5% yoy in CY20 (from +0.4%), with a recovery to +5.9% yoy in CY21 (from +3.4%)....
...We believe the multiple in recent years has been depressed, owing to investors being ahead of downwards sell-side earnings revisions and broad industry concerns (including peak EU auto sales and CO2 compliance...
...The shares currently trade on a 2020E PE multiple of c.17 times and an EV:Sales multiple of c.0.92 times in the context of Group margins of c.7.6%....
...We value JE using a sum-of-the-parts model comprising the UK, Canada, Australia and the iFood associate, which is a significant element (c.10%) of the group valuation, using a combination of sales multiples...
...higher sales long term, in our view....
...Wednesday’s development in the NMC vs Muddy Waters et al saga saw Krupa Global Investments, a Czech activist fund, say apropos of nothing that it holds positions equivalent to just over 0.4 per cent of the...
...a V-shaped recovery scenario underpinned by central bank action and with balance sheets that are much more resilient now than in 2008?...
...Our DCF model now values the shares at 199p, which is equivalent to EV/FY19E sales of 1.3 times and a premium to ratings of German auto brands....
...On Thursday, privately held German auto parts group ZF Friedrichshafen agreed to buy Wabco, a US company focusing on vehicle safety technology, for $7bn in what was one of the biggest European deals in the...
...While the black taffeta evening gowns and sturdy looking peacoats on Karlie Kloss et al shouted winter, the models’ peachy complexions were all spring – try Bobbi Brown’s Sheer Color Cheek Tint in Sheer...
...Why: Owned by Al V Corbi, president of SAFE, who has been designing security systems for individuals, super yachts and governments worldwide, the house has extensive surveillance systems, two panic rooms...
...I know you have the ear of the Pope, Obama, Lakshmi et al, but I ask you humbly to let this be strictly “off the record”....
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