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...In fixed income, currencies and commodities trading, income dropped 21 per cent to £1.4bn, even as German rival Deutsche Bank on Thursday posted its best quarterly results in 11 years in part due to better...
...Typically, these are to either a) pay cash coupons; b) toggle to ‘pay’ bondholders with more debt claims, albeit with some additional penalty (even more debt claims); c) to PIK for a while then switch to...
...These have picked up markedly in recent years, from a low of about 400,000 b/d in the pandemic year of 2020 to about 1.4mn b/d recently, according to Richard Bronze at Energy Aspects....
...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....
...S&P Global Ratings said in a report on Thursday that triple C borrowers would “contend with weak cash flow and elevated interest expenses this year”, while “defaults in 2024 [would] largely come from consumer-facing...
...With just 1.2bn people having an income above $12K a year, Apple is valued on an EV per pop of c$2,300, which requires c$800pp of annual spend, on the global equity strategy team’s calculations. 4....
...) big enough to make a meaningful impact on Berkshire’s earnings, (b) possible to reliably value, (c) have trustworthy and competent management, and (d) are available at a reasonable price....
...“Shale has redrawn the map of world oil in a way most people don’t seem to understand,” said Daniel Yergin, vice-chair of S&P Global and a Pulitzer Prize-winning energy historian....
...and that “S&C knew, or was in a position to know, that FTX was co-mingling customer assets”....
...In the case of the McKinsey report published in 2020, the main study gathered data about diversity on the boards and in the C-suites of more than 1,000 large global companies....
...Washington D.C., March 18, 2024 — The Securities and Exchange Commission today announced settled charges against two investment advisers, Delphia (USA) Inc. and Global Predictions Inc., for making false...
...“The oil market is waiting,” said Daniel Yergin, author and vice-chair of S&P Global....
...Icahn’s hedges include short positions against individual stocks and energy commodities, according to securities filings....
...His Berkshire Hathaway B class shares, at $420, offer a relatively cheaper entry....
...China was responsible for 60 per cent of petrochemical capacity increases in 2023, according to new figures from S&P Global....
...We’ve divided the issuers up by their primary exchange and overlaid short-interest data from S&P Global, accurate to February 23....
...Exhibit B: Norway’s parliament last month voted to open up for deep-sea mining in and close to the Arctic....
...I was there with friends on the promise of transgressive S&M....
...At least nine countries have announced subsidies to boost the nascent fuel’s production, according to S&P Global Commodity Insights, but cost increases and weak demand signals have cast uncertainty over...
...Traders are marking a riskier £250mn “class B” bond at little over 60 pence in the pound....
...(c) 1 LOB (“Services”) = almost all of Citi’s market cap....
...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...
...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....
...The US, in particular, is on course to increase oil output by 1.4mn barrels a day in 2023, three times the 0.4mn b/d cut from Opec+ nations....
...The S&P 500 is not yet quite as expensive as it was in the zero-rate, fiscal bonanza, everyone-has-loads-of-cash glory days of 2021. But it is getting closer....
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