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...Italian bakery company Forno D’Asolo to a rival buyout group....
...Leahy said that in recent years CD&R had “never really been able to do a consumer deal”, adding: “They’ve all been retail deals and also we’ve never really done a leisure or consumer services deal.”...
...Adrian D. Garcia from Ignites contributed the graphic to this article. *Ignites is a news service published by FT Specialist for professionals working in the asset management industry....
...Hedge funds and asset managers can buy those instruments, and trade them in Macau — a place better known for casinos than financial services....
...Reverence Capital, founded by three former Goldman Sachs executives, is led by Milton Berlinski, who founded the investment bank’s financial institutions group and has targeted mid-sized financial services...
...“We didn’t think that we’d be profitable this fast,” he told the Financial Times. “We’re at the beginning part of the journey....
...(b) Returns implied by the stock market equal only est. half of Citi’s target. For those looking for a “margin of safety” for an investment—we believe Citi looks like a stock to own....
...When a courier received a receipt, all they saw was an anonymised route from A to B, alongside the number of miles and what they were paid....
...Hidden threat B. Riley Financial is under fire for funding a buyout linked to a firm that prosecutors call a fraud, The Wall Street Journal writes....
...“I’d say we have quite a few and we have a lot of quietly ambitious family-owned firms that are growing very strongly,” Leo Clancy, chief executive of Enterprise Ireland told the Financial Times....
...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....
...A train company might be the only operator that can take you from A to B (though some days you might be quicker walking)....
...But it got us wondering: what hypothetical financials would justify a $60 stock price?...
...The Money Supermarket The 1998 megamerger between banking giant Citicorp and insurer Travelers Group created the world’s biggest financial services company. The experiment hasn’t gone to plan....
...As you’d expect, last year institutional investors dumped stakes in buyout funds, growth funds and venture capital at a steep discount to their reported value (as recently as 2019 the appetite was so immense...
...“Tinder has . . . embarked on a comprehensive strategy around pricing . . . which is something that really should be happening on a regular basis,” Gary Swidler, Match Group chief financial officer, said...
...successor to the European investment group’s chair Peter Harf....
...But from a risk-return point of view, is credit risk attractive right now? 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’d imagine a lot of these subsidiaries on the mainland have their own creditors and bank debt, so a lot of them could themselves be insolvent and not really able to deliver any value up the structure...
...Financial services to a certain extent trailed behind, even though the bankers themselves were working on these big merger deals....
...referrals for talking therapies — has taken a financial hit....
...The slip came despite an unexpectedly strong acceleration in Apple’s services business and a return to growth for the iPhone, helping the US consumer tech group withstand the worst effects of weaker consumer...
...More than a dozen current and former Baidu employees who spoke with the Financial Times said issues with Li’s leadership and company culture had contributed to the group’s difficulty incubating new business...
...It has the highest debt-to earnings before interest, taxes, depreciation and amortisation ratio in the sector and, like other legacy media groups, is coping with declining TV assets while its streaming service...
...“Without securities laws, this market becomes a wild west of sorts,” says Andrew Park of Americans for Financial Reform. “The issue is not sophistication....
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