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...But, of course, there’s a reason why it’s widely called Shitibank; the sprawling, gormless Citi has for a v v v very long time proven adept at blithely ambling onto various rakes around the world....
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...Where investors are giving Warner the most credit is in cutting its debt load, which has been a priority for Zaslav....
...S&P rates BPY’s debt BBB-, the lowest investment grade credit rating....
...The sound of money The Wall Street Journal takes a deep dive into Taylor Swift’s blockbuster tour, which could be the first to gross $1bn in revenue....
...Gross or operating profits don’t mean much for investors in this company. Free cash flow or return on assets will be much better measures....
...BP has named Kate Thomson as interim chief financial officer, following last week’s management upheaval prompted by the sudden resignation of CEO Bernard Looney....
...A reminder that management had guided for “at least 20 per cent” just a month earlier. Moreover, Tesla received Inflation Reduction Act (IRA) tax credits during the quarter....
...It limits credit risk and is available on the exchange.”...
...“Core plus” bond funds also have significant duration risk, plus a sprinkling of credit risk....
...I can today confirm we will increase the rate of tax credit by 5% and remove the 80% cap for visual effects costs in the Audio-Visual Expenditure Credit....
...For accounting purposes, DCC must present the pool ‘gross’: it shows overdrawn bank balances separate to (positive) gross cash bank account balances, even if there is a “net” cash balance within the pool...
...This week we will see whether Britain has actually been doing better than expected with an update on fourth-quarter gross domestic product....
...In March last year, Veon secured a $1.25bn revolving credit facility from 10 banks, co-ordinated by Citi and including Crédit Agricole, JPMorgan, Société Générale, Barclays and Raiffeisen....
...Risk management teams across Wall Street were focused on the size of Archegos’s positions as well as how much each stock traded every day....
...Let us know what you think at imani.moise@ft.com and sid.v@ft.com. A programming note: FintechFT will take a one-week break in observance of the Easter holiday. The next issue will be April 25....
...One potential challenge for the new bank is whether it would be able to attain the highest possible credit rating. The EIB is able to borrow at very cheap rates because of its AAA credit rating....
...It is not yet clear how involved Musk intends to be in Twitter’s day-to-day management....
...The prime minister’s decisive response to the Ukraine crisis, including immediately arming Kyiv, has earned him rare credit abroad. Volodymyr Zelenskyy on Thursday called him “a hero”....
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...Many houses in the Midlands are on the market for £300K or less. Market forces could level up where the government has failed....
...It was a point crystallised by the implosion of Archegos Capital Management in March....
...And on the conference call, when asked about this product line-up, management’s answers got a little squiffy....
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