Hints and tips:
...Drawing à l’infini presents nearly a thousand works — notebooks, drawings and engravings. The drawings illustrate Picasso’s constant process of reinvention and renewal....
...Some can establish discretionary loss-absorbing buffers before accounting P&L is calculated (eg NBB and DNB)....
...This article has been republished to correct errors in the CV section...
...David Hollingworth, associate director at broker L&C Mortgages, said the rise to 1 per cent could leave borrowers on a 25-year repayment mortgage at a standard variable rate of 4.24 per cent paying an extra...
...David Hollingworth, associate director at broker L&C Mortgages, says talk of an impending base rate rise and the resulting withdrawal and repricing of some of the historical lows in mortgage rates has put...
...Refining capacity is to shrink c.30% by 2030, from c.1.7mbd to 1.5mbd by 2025 then to 1.2mbd by 2030....
...However, at c.18x recovered earnings, we’d prefer to look elsewhere or wait for a cheaper entry point....
...“L&G offers a 6.3% 2020E dividend yield, 1.2% above the sector average. Pre-2016 L&G's yield averaged 0.4% above the sector.”...
...Because of its merger with Sprint in Apr-20, TMUS's portfolio of spectrum below 6 GHz is now c.3x that of Verizon and c.2x that of AT&T....
...With capacity expansion to be completed in next two months, we think growth can step up with additional distribution....
...Management guides to c£60mn of net benefit in 2H (c£78m extra costs offset by six month business rates relief of £137mn)....
...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....
...at the ‘C-suite’....
...net debt of c£18.9bn....
...believe Admiral with its 56.3p final ordinary and a 20.7p special may be particularly at risk, given the regulatory push to assure prudence and level the playing field by making companies stop special distribution...
...The distribution business is also a source of many of the related-party transactions....
...The most tangible outputs from this are cost efficiencies (for example, payroll and marketing savings of c.£44m and c.£16m p.a. respectively, and distribution cost leverage through simple measures to drive...
...L.P. (“KKR”) and GK Investment Holding Group SA (“GKI”) (each a “Potential Offeror”) regarding possible offers for the Company....
...On current multiples LSL is trading on a PE of 12.8x fo Dec 2020 while Countrywide is on 12.2x our 2020 estimates albeit it has c. £75m of debt vs a market cap of c. £123m....
...“Asia is leapfrogging developments elsewhere in the distribution of funds....
...And with value likely to outperform both in the mild and severe scenarios, AXA is the pick among the multilines, L&G’s favoured in life, plus Prudential....
...Acquiring Pioneer bolstered Amundi’s distribution footprint by giving it access to UniCredit’s vast network of retail banks across Europe....
...lawyer and academic received assent from Sergio Mattarella, Italy’s president, to become premier after fending off criticism about his lack of political experience and allegations that he embellished his CV...
...David Hollingworth, director at broker L&C Mortgages, said that, depending on the size of the loan, it may be worth opting for a high initial fee for a lower rate regardless of the tax change....
...My style icon is Robert Rabensteiner, fashion editor at L’Uomo Vogue....
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