Hints and tips:
...Monday UK: 100th anniversary of the first Greenwich Time Signal (aka “the pips”) first used on radio by the BBC Tuesday UK: former prime minister Liz Truss to launch a new political grouping of Tory MPs...
...Josh Chaffin reports on the sometimes surreal first day of the trial. 3....
...Louis Wise is assistant editor at HTSI All images courtesy Corita Art Center Ordinary Things Will Be Signs for Us by Corita is co-published by J&L Books and Magic Hour Press Follow @FTMag to find out...
...Japanese companies go shopping in the US Even as M&A wavers across the globe, corporate Japan is increasingly hunting for deals in the US....
...The 38 per cent fall was double the 19 per cent decline in the S&P 500 index....
...DP World, the Dubai-based parent of P&O Ferries, which attracted opprobrium for its mass sacking of crew members, hit record profits of $721mn in the first half of the year, thanks to a strong performance...
...Today, it employs more than 1,000 staff and serves a roster of multinational companies in the Philippines that includes Unilever, P&G, L’Oréal and Nestlé....
...Meanwhile, L Catterton, the private equity firm backed by LVMH, has acquired a 60 per cent stake in Italian fashion group Etro....
...The benchmark S&P 500 index posted another record high and commodities rallied on hopes the recovery was strengthening....
...The S&P 500 index had its worst session in a month, giving up morning gains to close the trading day down 0.9 per cent....
...The FT journalist currently in pole position, however, appears to have an even more uncanny gift of foresight, having described his picks as the “pro-internet shopping, anti-shopping centre” portfolio....
...She famously hid weapons and detonators in her pram or under the turnips in her shopping basket as she wheeled her children around Paris....
...Alicia Levine, chief strategist at BNY Mellon Investment Management in New York, notes that the five largest tech stocks in the S&P 500 outperformed the rest of the index by 31 per cent in the first five...
...It was welcomed at first, making malls in Boca Raton, Florida and Short Hills, New Jersey bigger draws for an increasingly affluent clientele. But it began to splinter the consumer....
...The five largest stocks in the S&P 500 together account for a quarter of the pandemic-defying rally since the crescendo of selling in late March....
...) estimates i.e. an attractive valuation, however: i.) preprovision profit in our base case is declining -2% CAGR ‘19-22E and ii.) our L-T recession scenario sees only 1% p.a....
...L-f-l rents down 27%: net rental income fell down to just £87.3m which represents a l-f-l fall of 27% (excluding premium outlets), as a result of covid and the reduced rent collection rate....
...(FT) SpaceX prepares first astronaut launch Elon Musk’s SpaceX will carry two astronauts into orbit on Wednesday in the first such launch for a private company....
...EnQuest’s cash netback lead among UK E&P’s has improved further as yet more legacy high-cost fields are shut-in permanently....
...However, the outlook is uncertain, rising one-offs make P&L valuations less relevant and cash conversion is declining. In addition, top management changes add another layer of complexity....
...One mystery here is the identity of the investment consortia buyers, “Gemstone Investment Holding Ltd” and “Allied Cigar Corporation, S.L”....
...L’Oréal Sector: cosmetics / HQ: Paris, France Key stat: Online sales jumped 53 per cent in the first quarter....
...With top-line beat flowing through the P&L, core op. profit was +8% vs cons and core EPS +12%. ¾ of the EBIT beat seems inventory related. Q: What were the most noteworthy areas in the results?...
...Given how advanced e-commerce and online shopping are in China, L’Oréal learns valuable lessons there that it then exports to other markets, said Mr Agon....
...through the P&L....
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