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...Altice France said it had previously pledged to reduce net debt to about 5 times adjusted earnings, from 6.4 times currently....
...is preparing for a showdown with shareholders at its annual meeting later this month over a pay package for its chief executive David Schwimmer that is benchmarked against big US data groups such as S&P...
...Credit rating reviews from Moody’s on April 26 and S&P on May 31 could result in downgrades....
...In November, Altice struck a deal to sell a majority stake in its data centre business in France, valued at €764mn, to a Morgan Stanley infrastructure fund....
...Tim Rourke, UK head of P&C pricing, product, claims and underwriting at WTW, said the data suggested “the relentless rise in prices may finally be turning a corner”....
...their debt in 2024 than in any start to the year since the global financial crisis as inflationary pressures and high interest rates continue to weigh on the world’s riskiest borrowers, according to S&P...
...Wall Street’s S&P 500, the tech-dominated Nasdaq Composite, Japan’s Nikkei 225, Germany’s Dax and France’s CAC 40, among other indices, have all hit their highest-ever levels in recent weeks, amid hopes...
...S&P this month downgraded Thames Water’s top-ranked class A debt to BBB-, the bottom rung of investment-grade, just one notch above junk....
...Economic data: S&P Global will release its purchasing managers’ indices for manufacturing and services for February and annualised existing home sales for January will also be published....
...“There is a lot of cover for the [protection and indemnity] element to address,” said Neal, citing the $3bn of liability reinsurance that the ship has access to through the International Group of P&I Clubs...
...The blue-chip S&P 500 closed up 0.9 per cent, at a new record, continuing a rally that has pushed the index 27 per cent higher since October. The Nasdaq Composite gained 1.3 per cent....
...Illiquid bonds linked to Windhorst’s companies were at the centre of a high-profile scandal at France’s H2O Asset Management....
...The S&P 500 experienced its sharpest decline since the middle of February and US government bonds also rose as investors sought safe-haven assets....
...The Russell 2000 index has risen 24 per cent since the beginning of 2020, lagging behind the S&P 500’s more than 60 per cent gain over the same period. Read the full story. 4....
...CERAWeek, the global energy conference sponsored by S&P Global, begins today in Houston, with guest speakers including the chair and chief executive of ExxonMobil Darren Woods....
...This cover is provided in the first instance to the Dali by Britannia P&I Club....
...demand for foreign currency-denominated long-term savings policies remains strong, given [the] interest rate differential between Hong Kong and mainland China,” said Billy Teh, associate director at S&P...
...Today’s big read Mato Grosso, a state in Brazil larger than France and Germany combined, was historically seen as a backwater....
...Chart of the day The S&P 500 stock index yesterday crossed the milestone of 5,000 points for the first time....
...More than half of Thames Water’s debt is index-linked, according to rating agency S&P, burdening it with higher interest repayments as inflation soared over the past 18 months.The utility may also face large...
...Axa’s health premiums fell 7 per cent in 2023, as two contracts with large corporate clients in France were not renewed, the company said....
Xi Jinping hopes manufacturing can offset the property slump
...And here’s what I’m keeping tabs on today: Economic data: The Institute for Supply Management will release its monthly US manufacturing survey while S&P Global publishes its Mexico manufacturing survey....
...Economic data: S&P Global publishes manufacturing purchasing managers’ indices for the eurozone, UK, US, Canada and Mexico today....
...The FCA has also been investigating H2O’s conduct, but unlike France’s Autorité des Marchés Financiers, is yet to issue any fine or sanction....
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