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Related Special Reports
...Former chief executive Steve Rowe stepped down last year and was succeeded by Stuart Machin, who oversaw the group’s food business....
...We’re always engaged in conversations, but I’m challenging the team and myself to think more broadly and more openly about the opportunities we have.”...
...I’m not going to cape for capitalism. I’m hardly a true believer in markets as the most efficient allocators of resources and arbiters of policy....
...Bickerstaffe and Machin were promoted from joint chief operating officers by chair Archie Norman after former boss Steve Rowe announced plans to quit....
...Results: Philip Morris, ConocoPhillips, Apollo Global Management, Kenvue, Hershey, T Rowe Price, Spirit Airlines and Ralph Lauren will report their latest quarterly earnings before Wall Street’s opening...
...Meanwhile, F/m Investments has filed to launch mutual fund share classes of its ETFs, bringing to seven the total filing for a multi-share class structure....
...Money managers at Pimco, JPMorgan Asset Management and T Rowe Price have all increased their exposure to European government debt in recent weeks....
...AbbVie, Colgate-Palmolive, Phillips 66, T Rowe Price and Newell Brands also report results....
...Many firms have cut costs to deal with these pressures, with BlackRock, Franklin Templeton, M&G and T Rowe Price among asset managers that have reduced headcount over the past two years....
...Among those that have been suffering in the new regime is T Rowe Price, a $690bn active equities manager based in Baltimore, Maryland....
...Mainstream investors like Fidelity, T Rowe Price and BlackRock are also exposed. Read more on the options open to ByteDance’s US investors....
...I’m Ethan Wu. Thanks for listening. [MUSIC PLAYING]...
...And finally I’m in Los Angeles this week for the Milken Institute Global Conference — hit me up if you’re here....
...M&S chief executive Stuart Machin, who succeeded Steve Rowe, has been spearheading a turnaround of the chain in tandem with chair Archie Norman and co-chief executive Katie Bickerstaffe....
...Jason Rowe has been named to co-lead software investment banking. JPMorgan’s India head of equity capital markets Abhinav Bharti is leaving the bank....
...T Rowe Price sees “a world transformed”. (you can probably tell our energy is lagging now) KKR says it is in a “glass half full” kinda mood....
...The tech critic and gadfly Cory Doctorow had a piece in our paper today called “‘Enshittification’ is coming for absolutely everything”....
...Cory’s own trajectory has been a little different....
...I’m with American poet Dorothy Parker, or the lines sometimes attributed to her: “I like to have a martini/ Two at the very most/ After three I’m under the table/ After four I’m under my host.”...
...As debt is paid down, this gives management more options to boost returns, either through growth capex, bolt-on M&A or simply returning spare cash to shareholders....
...M&S, which started life as a market stall in Leeds in 1884, was a founding member of the FTSE 100, set up in 1984....
...“I’m a front door sorta guy. I think it was effective and I’d do it again.”...
...“Transformative M&A has arrived,” Jefferies analyst Dan Fannon wrote in a note....
...“If I’m a small cap manager, I want to get my capacity before I tell the world what I’m investing in, because the world is going to front-run me and . . . move the market away from me....
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