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...European coffee group JDE Peet’s is replacing its two top executives as controlling shareholder JAB Holding seeks to shake-up the owner of L’Or, Kenco and Douwe Egberts following a long period of underperformance...
...S&P said it originally expected the war would not last “more than six months” as it downgraded Israel’s sovereign credit rating from double A minus to A plus....
...This could represent a shift to a slightly more hospitable climate for L/S hedge funds, whose shorts have generally been a grisly mess over the past decade, he argues: Macro Matters for Hedge FundsRegardless...
...F1’s operating profit rose by 64 per cent to $392mn in 2023 from a year earlier, as revenues jumped to $3.2bn from $2.5bn....
...The investor group also includes private credit groups Ares Management and HPS, and L Catterton, a private equity group that invested in Equinox in 2017....
...Shepherdson argues that declining S&L tax revenue augurs poorly for future S&L spending, as this chart shows: It’s a reminder to investors that markets are sensitive to changes, not levels....
...That would bring them back to where they were a decade ago. Also on a multiple of sales, L Catterton’s offer looks underwhelming — just 1.7 times this year’s revenues....
...Peers e.l.f. Beauty, Coty and Estée Lauder were lower by 9.7 per cent, 5.1 per cent, and 4 per cent, respectively....
...The group has a record of profitable exits — such as 2023’s $8.6bn listing of German sandal maker Birkenstock — and Tod’s has a good potential to turn into another success story, say analysts....
...Goldman Sachs gave it a go with the ‘Granolas’ or, more accurately, GRANNNLLASS: GSK, Roche, ASML, Nestlé, Novartis, Novo Nordisk, L’Oréal, LVMH, AstraZeneca, SAP, and Sanofi....
...The Granolas as a group have climbed 18 per cent over the past 12 months beating the Stoxx 600’s 7.5 per cent rise over the same period....
...Ørsted, the world’s largest offshore wind developer, has been threatened with a downgrade by credit rating agency S&P after taking huge writedowns on its US projects this week.S&P Global Ratings said it...
...Outside tech, class A shares of Warren Buffett’s Berkshire Hathaway rose 1.2 per cent to a new peak, while credit card group Visa rode an eight-session winning streak to a new high....
...On a long-term view, some of the FTSE 100’s less glamorous members, companies such as Compass, Intertek, Relx, Experian and Diploma as well as Bunzl and Howdens, have performed far better than the household...
...“These actions are a departure from the historically nominal financial penalties imposed for breaches,” according to S&P....
...Using national level S&L data back to 1955, we find that changes in revenues over the prior year account for 40% of the variance in S&L consumption and gross investment....
...Crédit Agricole, Atos, Attestor and the French bank lenders declined to comment. Crédit Agricole’s stance was first reported by online publication L’Informé....
...The group also includes executives of Related Companies, private credit groups Ares Management and HPS, and L Catterton, a private equity group that invested in Equinox in 2017. Read more here...
...“Significant budgetary consolidation has placed Greece’s fiscal trajectory on to a firmly improving track,” said S&P’s analysts, who attributed a “stable” outlook to the country....
...The stock has gained nearly 40 per cent over the past 12 months, outpacing the S&P 500’s 20 per cent rise....
...L&G said it had reported “no material property or credit writedowns” in the first half of 2023, and has had zero defaults on the credit backing its annuities since 2010....
...Put another way, in a world where liquidity is everywhere, changes in the money supply don’t signal much about the availability of credit....
...Companies: Updates are expected from Anglo-Swedish drug giant AstraZeneca, British American Tobacco, French lender Crédit Agricole, France’s L’Oréal, advertising company Publicis, Germany’s Siemens and Watches...
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