Hints and tips:
...Over the past 10 years the size of its buyback scheme dwarfs both its R&D spend and the buyback schemes from peers, adding up to a total of $658bn, according to data from S&P Global....
...Political will for public R&D investment has materialised....
...“It is a coming of age,” said Howard Silverblatt, senior index analyst at S&P, of the dividend announcement....
...That compares with 6.8 per cent at Volkswagen, on S&P Capital IQ estimates. Being big also means that necessary investments, in new models and R&D, are less of a drag....
...Cape ticks many boxes you’d want from a rule-of-thumb: simplicity, comprehensibility, and clarity....
...The Mag 7 re-invests 60% of their cash flow from operations through growth capex and R&D. This reinvestment rate is more than double the 26% of the Tech Bubble 5 and about 3x that of the S&P 493....
...As private sector R&D investment has fallen, the state has made up for it, and then some: Mui points out that “a lot of the elevated government investment in R&D was Covid-related, such as health research...
...Apple has invested at least $1bn in microLED R&D and even made a push into the actual manufacturing of the cutting-edge display technology....
...From the UK selection, I’d pick out Bunzl, chiefly because of my colleague Oliver Ralph’s inclusion of the packaging and distribution business in his wry analysis of the “magnificently unglamorous” seven...
...He’d just get up and go to the studio the next day.” Hus’s drive has been matched by Bah and Jalloh....
...China’s pharma researchers do a lot of R&D of their own, but do not seem to produce many blockbusters....
...Pre-salt production rose from 41,000 b/d in 2010 to 2.3mn last year, fuelling record annual profits of R$188bn (US$39bn) and dividends of R$216bn at the company....
...“But it has been a polarising debate, given the potential impact of reforms on R&D budgets and what that means for global innovation.”...
...In which case, the likes of me debunking the miracles of adjusted earnings and capitalised R&D costs falls on deaf ears. To believers, the numbers are glorious....
...Maluma might style himself as a lady-killer, but you wish he’d strip back the filler. ★★★☆☆ ‘Don Juan’ is released by Sony...
...Electronics retailer Currys sparks bidding war The UK high street mainstay Currys — known for selling electronics, from computers to vacuums — isn’t the sort of company you’d expect to find in the middle...
...This is an under-owned asset class and you can access it via local currency ETFs from the likes of iShares (iShares J.P. Morgan EM Local Government Bond UCITS ETF, ticker SEML)....
...But how much more again comes down to whether you reckon the likes of R&D should be expensed or capitalised....
...Rolls-Royce’s R&D engineers are now “focused on improving time on wing”, said JPMorgan’s Perry. “They will need to deliver the promised improvements . . . if Rolls-Royce is to achieve its targets.”...
...They are probabilistic bets on successful R&D: most of the time your investment goes to zero, but occasionally you’ll get a massive outsized return....
...Meanwhile government spending and investment, notably in R&D, have added to headline GDP for five quarters running. Underlying trend growth is arguably closer to 3 per cent than 2 per cent....
...Last year emerging biopharma companies were responsible for a record 65 per cent of the molecules in the R&D pipeline without a larger company involved, up from less than 50 per cent in 2016 and 34 per cent...
...They spend a lot of money on R&D. They are among the largest patent holders. There’s very little evidence of collusion. They seem to be competing with each other quite strongly....
...Meanwhile, Unilever announced a near €1bn increase in marketing, capex and R&D for 2022, reversing a period of shrinking investment in the business....
...In fairness, this partly reflects changes to the tax deductibility of R&D costs, a $1.6bn annual drag, says Raytheon. It can no longer expense certain R&D costs immediately....
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