Hints and tips:
...Plot the S&P 500 index return against the Nikkei 225 from just before the pandemic....
...Read on for why boards and executives need to oversee corporate culture as well as the P&L, and in Office Therapy I advise a worker without children doing a lot of extra cover for the mothers on her team...
...Now the waterfront — which forms part of Liverpool Waters, Peel L&P’s £5bn, 30-year project to transform the city’s northern docks — is taking on a new life itself....
...Economic data Gross domestic product is the main US data point on Tuesday and minutes from the last Federal Reserve’s meeting land on Wednesday....
...Mirova manages carbon credit investment pools for companies that buy offsets to reach net zero targets, including a €50mn nature protection fund for telecoms group Orange and a fund of the same size for L’...
...Wall Street’s benchmark S&P 500 index ended Wednesday 2.5 per cent lower and the Nasdaq Composite fell 3.4 per cent after a volatile afternoon of trading as investors struggled to digest the Fed’s messaging...
...It was for her that he designed a Little Black Dress and the fragrance L’Interdit....
...In “The P.S. Wings in the O.P....
...Landsec will partner with Peel L&P, which will keep a 25 per cent stake. Landsec’s purchase of the waterside area includes £293.6m of debt, reducing its equity investment to £207.6m....
...Beauty group Garnier, owned by L’Oréal, promised last year to plant a tree each time a bottle of certain skin and haircare products was sold at Asda, the British retailer....
...) estimates i.e. an attractive valuation, however: i.) preprovision profit in our base case is declining -2% CAGR ‘19-22E and ii.) our L-T recession scenario sees only 1% p.a....
...On our new estimates, L’Oréal trades on an FY21E P/E of 32.6x, the highest premium versus the consumer staples sector for over 10 years....
...Vermeer believes British Land and Land Securities are on difficult ground here....
...Our forecasts assume the full £500m is invested in land in FY20, and that the benefit in the P&L is seen later 2022 but to a larger extent in FY23....
...I very much believe it's going to be a very strong third pillar for our business, and I think it could be a significant P&L contributor to our company, definitely within five years, and definitely within...
...In the US, S&P 500 non-financial companies were sitting on $1.35tn of cash and equivalents at the end of June....
...Based on company commentary so far, we still believe potential COVID-19 claims (including BI) are a manageable P&L event for the sector, although the devil will be in the detail when it comes to BI policy...
...Persimmon trades on the highest P/NAV, but its land bank and margins warrant that....
...This is however negligible in the wider context of the P&L and the land bank, with the impact on future gross margin of 17bps small and which will likely be mitigated....
...The group expects land cash spend of £850m (vs. historical levels of c.£1.0bn), which includes £492m payment of committed land creditors this year....
...What happens further down the P&L is largely a question of capital structure, but it appears most will be either loss-making or make only marginal PBT....
...While the group’s net cash position has improved to £1.0m (£157m net debt in May), we note that the Land creditors position stood at £345m, with the group starting to explore the land market as it acquired...
...Lancôme’s L’Absolu Rouge is a lush, sweet rose, as are Yves Saint Laurent’s Rouge Pour Couture and Dior’s Rouge Ultra....
...At c30x P/E, we do not feel valuation fairly reflects these risks and thus downgrade to Sell with a GBp385 price target, suggesting c30% downside from current levels....
...For Ryanair, the potential hit to its p&l could not have arrived at a worse time — a bit like one in 10 of its flights when there isn’t a strike on....
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