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...Meanwhile, macro hedge fund manager Brevan Howard had a disappointing year....
...I’m joined now by the FT’s Felicia Schwartz, who’s been covering the war. Hi, Felicia. Felicia SchwartzHello....
...While Blackstone was recently added to the S&P 500 index and KKR and Apollo hope to soon follow suit, Carlyle’s market capitalisation of less than $15bn is too small for it to qualify....
...The allies also plan to use advanced AI algorithms on P-8 surveillance aircraft to increase their anti-submarine warfare capabilities....
...According to S&P Global, in the first nine months of 2023 global private equity investments had an aggregate value of $365.3bn, a decline of 44 per cent year over year....
...Blackstone in September became the first private equity group to be included in the S&P 500 index and its rivals Apollo Global and KKR are hoping they are not far behind....
...Dealmaking remained subdued in the quarter despite a rebound in markets that has propelled the S&P 500 up by almost a fifth this year....
...“It is a coming of age,” said Howard Silverblatt, senior index analyst at S&P, of the dividend announcement....
...Additional reporting by Felicia Schwartz...
...Start with some high level numbers, courtesy of S&P’s excellent Howard Silverblatt....
...But Howard Silverblatt of S&P Dow Jones Indices reminded me there was a similar is-growth-dead moment when Microsoft paid its first dividend in 2003. That company’s stock was $24 back then....
...“Divestments that improve top-line growth while not being too dilutive to earnings due to stranded costs are also being considered fairly broadly,” wrote Bernstein analyst Alexia Howard in a wrap of the...
...The power struggle between Goldman Sachs’s David Solomon and Harvey Schwartz saw the one-time DJ win and his rival retire....
...Carlyle would also need to generate total shareholder returns higher than 60 per cent of companies in the S&P 500 index every year....
...But Jeremy Schwartz, economist at Nomura, said the minutes showed “a lack of conviction” among Fed officials that they had conquered inflation....
...*This article has been amended to clarify that it was the boss of P&O Ferries involved in firing 800 crew over Zoom....
...Separately, NatWest chair Sir Howard Davies came under fire on Friday for saying it was not “that difficult” to buy a house....
...“The inflation outlook is definitely improving,” said Jeremy Schwartz, senior US economist at Nomura....
...“Going forward the concern is not so much about more bank failures, as new regulations,” said Howard Silverblatt, senior index analyst at S&P. “They need to protect their dividends again....
...News round-up GAM board recommends £96mn takeover offer from Liontrust (FT) AstraZeneca chair says it is paying CEO enough to ward off US rivals (FT) Oaktree Capital’s Howard Marks to undergo cancer treatment...
...The jobs report showed that while hiring is slowing, “the economy is far from falling off a cliff”, said Bob Schwartz, senior economist at Oxford Economics....
...It’s no coincidence that the S&P 500 is also having a stellar run....
...Initially a fighter base for Spitfires, Ibsley was later home to more than 150 P-47 Thunderbolt fighter bombers....
...And you know, Howard Silverblatt, who’s a great dividend analyst at S&P, made the point to me that it kind of just reflects general corporate caution, right?...
...In his latest memo to investors (and in an FT column), Howard Marks of Oaktree made a broadly similar argument....
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