Hints and tips:
...The company spent billions of dollars acquiring truck-stop operator Pilot Flying J and insurance conglomerate Alleghany in recent years, adding them to a portfolio that includes ice cream purveyor Dairy...
...S&P said its ESG credit indicators were not sustainability ratings or a standalone assessment of a company’s ESG performance....
...A successful listing would focus J&J on its pharmaceutical and medical-device business. The company is just one of a number of legacy US giants engaged in streamlining....
...Smart reads One man’s trash . . ....
...Contentious votes are due at three other S&P 500 companies before the end of this month....
...After a dour start to the year for the US renewables sector, clean energy companies outperformed the S&P 500 last week, driven by the historic Senate legislation pouring funds into solar and carbon capture...
...After more than 200 basis points (bps) of year-to-date spread widening, the yield on the J.P. Morgan Corporate Emerging Markets Bond Index (CEMBI) Broad Diversified High Yield Index is now 10.3%....
...$41.1m, according to S&P Capital IQ....
...After almost a decade leading J&J, Gorsky will hand over the reins in January to his successor Joaquin Duato, who has been at the company for three decades and will lead the new slimmed-down J&J....
...Berkshire shares, by contrast, have rallied 18 per cent this year, far outpacing the S&P 500. In 2021, they gained nearly 30 per cent....
...Letter in response to this article: Plotting a green course for international shipping / From Professor Peter P Edwards and others...
...US stock futures recovered some of their earlier losses following the update, leaving S&P 500 futures down 0.9 per cent....
...Its borrowings are rated “highly speculative” by S&P. However, EG is not bidding for Asda. The Issas are the bidders, with long-term private-equity backer TDR....
...Similar fights between private equity firms and hedge fund creditors have played out at companies such as J Crew and Neiman Marcus....
...Shares were boosted in early New York trading by almost 4 per cent to $145.42 on the news, exceeding the rise in the S&P 500.For the three months to March 31, the company reported adjusted earnings per share...
...In retail, it is hard to imagine that many big brands won’t follow J Crew into bankruptcy....
...Meanwhile, technology and communications, including internet companies, now account for 38 per cent of the S&P 500....
...Like-for-like sales at the company have declined in 11 of the past 16 quarters, according to S&P Capital IQ data....
...Ascena ($1.8bn) and clothing retailer J Crew ($1.4bn)....
...Rothschild, Barclays and J.P. Morgan advised Covéa, with Bredin Prat and Debevoise & Plimpton acting as legal advisers....
...Deleverage was sizeable, with net debt falling to £1.2bn (inc deeply subordinated bonds, pre IFRS16), or down £343m YoY....
...That decline is far less than the wider S&P 500 pharmaceuticals index, which is down 28 per cent. Mr Younger says reputation is divided into capability and character....
...The company has underperformed the broader S&P 500 this year, amid concerns about legal liabilities from claims about asbestos in the company’s baby powder and lawsuits from state attorneys-general over...
...At Thursday’s close, J&J was the seventh-biggest company in the S&P 500, with a market cap of $396bn....
...Should FTSE Russell and J.P. Morgan, who manage the other two relevant indices, follow suit, HSBC's Andre de Silva, Pin Ru Tan and Zoe Fang see $297bn potentially flowing into Chinese bonds....
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