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...Royal Mail owner International Distributions Services has rejected a £4.5bn takeover approach by Czech billionaire Daniel Křetínský’s investment group, calling the timing of the bid “opportunistic”....
...“I would always be cautious about any company that does not have its dividend covered,” said Nate Koppikar, a partner at hedge fund Orso Partners, which has bet against Blackstone shares....
...Royal Mail owner International Distributions Services, which the “Czech Sphinx” has approached with a takeover offer, certainly ticks the boxes. IDS shares jumped on Wednesday....
...This matched a wider trend in which S&P 500 spending on buybacks fell 14 per cent on the previous year....
...BiddingDealer: East N/S Game North’s 3H showed a game-going raise in spades; South’s 4H was a cue-bid....
...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...
...On that basis, its $18.25bn acquisition of speciality building products supplier SRS Distribution, including debt, offers good news and bad....
...Adrian Lewis, Inchcape’s chief financial officer, said there were several offers for its retail sites and following the deal, Inchcape would largely be a “pure-play” car distribution company....
...But when its protagonist tells the company boss: “I’m down here with mi gente . . . they’re looking for themselves on those shelves,” the film’s conflation of a marginalised group’s desire for representation...
...About nine in 10 S&P 500 stocks were trading lower as traders assessed US inflation data that was higher than expected for March....
...Subdued consumer demand, rising wages and high interest rates, which hurt more indebted companies, had all contributed to the increase in the number of companies struggling to repay their debt, S&P said....
...M&S’s contract with HSBC, which owns M&S Bank, is up for renewal. M&S is likely to push for more control and a bigger cut of the spoils....
...Investors are clamouring for promised returns and distributions. But being a forced seller into a choppy market is no fun....
...With Q♣ not falling, the plan now requires reasonably balanced distribution. South cashed A♦ and K♠ and went over to dummy with A♠ to play K♦, throwing a spade from hand....
...National Grid paid £7.8bn in 2021 to buy Western Power Distribution, a regional group, from US company PPL....
...EV charging problems were weighing on car companies, JD Power said in a report last month. “EVs are still a clear part of the product road map. That hasn’t changed....
...It’s a busy week for results with a smorgasbord of companies reporting quarterly results, including more of the Magnificent Seven, or Big Tech gang, whose ability to drive up US markets has been curtailed...
...“A wide range of growth initiatives across the group is now starting to deliver,” he said. The company expects full-year organic sales growth in a range of about 4 per cent for the full year....
...Half a dozen of the index’s biggest companies by market capitalisation closed at record highs....
...Children in Cameroon will begin receiving malaria vaccines as part of a rollout of the medicine developed by UK pharmaceutical company GSK in up to 12 countries across sub-Saharan Africa....
...But for F1, the Red Bull drama is a major, unwanted distraction. The head of F1’s governing body told the FT last week it was “damaging the sport”....
...Vandevelde, 73, is presently a director at the company and will replace chief executive Fabien Simon at the start of April on an interim basis and lead a search for a new CEO....
...Year-to-date things are looking only slightly better, with US equity long/short hedge funds trailing the S&P 500’s continued surge by about one percentage point. That’s all fine....
...Endeavor’s time as a public company was mostly a flop....
...The spread of AI, capital distributions including share buybacks and dividends, margin discipline, and M&A are all becoming more common in European C-suite conversations....
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