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...In any assumption other than an L-shaped recovery, the risks of failure are not yet that extreme. So can a valuation argument be built around those facts alone?...
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...L.P. (“KKR”) and GK Investment Holding Group SA (“GKI”) (each a “Potential Offeror”) regarding possible offers for the Company....
...Will Wallis at Numis can give us the detail of the strategy review: We summarise the outcome as a focus on self-help, requiring upfront P&L investment....
...Trading at 4.4x adjusted EV/EBITDA and 9.5x P/E on our 2022 estimates, shares look attractive given: i) FY3 average of 5.2x and 10.9x respectively since 2017, and ii) 18% and 13% discount to peers (SUMCO...
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...Against the general trend, yesterday Ferrari confidently guided to a V-shaped recovery in its P&L from H2/20....
...Banks are also braced for the Basel IV rules, which from 2022 will increase banks’ capital requirements....
...L’Oréal Sector: cosmetics / HQ: Paris, France Key stat: Online sales jumped 53 per cent in the first quarter....
...L. Shaiman Leveraged loans are not a systemic risk Many people appear to conflate the concept of “credit risk” with “systemic risk”....
...In her “Frankfurt Airport, IV: April 13, 2001”, a densely black Lufthansa plane stretches 14 feet across three panels, giving it an ominous presence....
...“Study for a Portrait of P.L.” (1962), an unsparing depiction of the artist’s lover Peter Lacy scowling on a sofa, is the first Bacon picture where internal organs burst out though the surface of the skin...
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