Hints and tips:
...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...
...or C.”...
...It says an investment contract involves (a) a person investing (b) in a common enterprise (c) with the expectation of profits based on others’ efforts....
...With our emphasis: B. An order of permanent injunction prohibiting Defendants and any other person or entity associated with them, from engaging in conduct described above . . . C....
...He had gained admission despite middling A-level grades (a B in history, a C in French). Distracted by royal duties, he graduated with a lower second....
...Ultimately, though, only one — Sizewell B in Suffolk, housed on a site adjacent to the proposed Sizewell C plant — was ever built....
...It is in theory a simple game, but harbours a huge amount of complexity and depth....
...The minimum standard is set to rise to a C rating by 2027 and to a B by 2030, a level which around 70 per cent of offices in the capital fall short of, according to Savills....
...The upside of the government’s refugee deal with the Rwandan government is that it gives MPs both something else to talk about in the press other than a) and b), and a solution for c)....
...support] and c) move away from the idea that the answer in education was grammar schools and more selection.”...
...b) this person, whom the lawyers have not identified, is, like Mr Kulibayev, a member of the Forbes list of the 50 richest people in Kazakhstan c) the employees of Mr Kulibayev’s companies who worked on...
...For the combined company, Aveva expects a PF revenue of c.£1.2 bn and Adjusted EBIT of c.£330 mn (c.28% margin)....
...There are a few viewpoints along the route that overlook Victoria Harbour and Tai Tam Country Park....
...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....
...(iii) But the standouts were the tight operational controls with discretionary spend falling away – i.e. a c£5m travel spend falling to very little and less use of sub-contractors and of course salary sacrifice...
...Less expected news Gucci’s underperformance (c.70% of our SOP) vs the group average was not a surprise, given: a) no material space effect; b) overexposure to Chinese clients (c.38% of sales vs up to 35%...
...This is broadly in-line with JPMe $15bn pa 2021-25, c$14bn pa 2026-30. iii) Returns/Breakeven....
...Acquired assets are expected to be c. $20m....
...i) biggest decoupling between earnings revisions and market performance since 1998; ii) credit spreads now appear fair (and equity and credit have been very closely correlated); iii) recent rise in bond...
...However, it also guided to net E&C margins (E&C is ~75% of revenues) of only 2.0-2.25% versus our prior forecast of 4.7% and a ‘normal’ expectation of 5-6%....
...We think the negative narrative from today’s results is as follows: (a) IMB has cut its dividend, (b) IMB missed 1H20 EBIT numbers by ~10%, (c) NGP losses continue to worsen: just 1H20 losses stand at £220mn...
...We value IAG at a P/B 2019 of 0.4x (as for AF-KLM / at a 20% discount to Lufthansa’s P/B multiple in the lows in 2009; IAG was formed in 2011)....
...B.R. Shetty and his advisers are in the process of carrying out a legal review in order to verify the total interests of Dr. B.R....
...From a balance sheet perspective, net cash as at the 30th of June is c£305m, this is down from c£430m at the last update with the timing of land payments flagged in the statement....
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