Hints and tips:
...China’s economy is tipped by the World Bank to expand by just 4.4 per cent next year — its weakest rate since 1990, excluding the Covid pandemic — amid a property crisis, weak export growth and geopolitical...
...If the economic trajectory does indeed look more like an “L” than a “V” or “U”, portfolios will need to combine recovery stocks with cash and lower-risk bonds as well....
...Wilson, Windermere; D Barter, Cumbria; Jean-Marc Sellier, California Polymath 1,010: Robert Jelly, Warwickshire Crossword 16,093: V Le Quesne, Salisbury; Sue Topham, Newark; Anthony Evans, Hove Polymath...
...However, the sales unwind into 2H20-1H21 could be significant, which is a risk given a 2021e P/E ratio of almost 27x....
...Some chains such as Equinox, which is owned by property developer Related and private equity firm L Catterton, have agreed to suspend memberships for those affected by a closure, foregoing tens of millions...
...L.P. (“KKR”) and GK Investment Holding Group SA (“GKI”) (each a “Potential Offeror”) regarding possible offers for the Company....
...Meanwhile, Boris Johnson’s cabinet is pushing to relax two-metre social distancing rules....
...Rate relief drops away in FY22 so the recovery profile, in EPS at least, is not V-shaped....
...Based on company commentary so far, we still believe potential COVID-19 claims (including BI) are a manageable P&L event for the sector, although the devil will be in the detail when it comes to BI policy...
...Against the general trend, yesterday Ferrari confidently guided to a V-shaped recovery in its P&L from H2/20....
...Since 2016, we estimate the Kingfisher P&L has had an £81m transactional benefit from weaker sterling. FX could become a headwind once trade talks are agreed (or not)....
...We think a rational assessment of the state of the economy as the end of the year approaches will force Johnson to seek an extension. Anyway....
...The bulls will point to a P/B below 1, FY21e EV/EBITDA of 4x and EFCF Yield of 8% as evidence of clear value....
...My own feeling is that this will not be a V or even a U-shaped recovery, but a downwardly trending W that has a high risk of turning into a L....
...It gets straight to the point: We now assume an L-shaped RevPAR recovery (previously V-shaped), based on Jefdata consumer surveys, corporate guidance and industry forecasts. .....
...V, U, or L? The nature of Covid-19 growth impact means that some elements – e.g., production resumption, inventory restocking, and travel normalisation – would lend a natural rebound to growth....
...L, until the final CMA decision, expected on 11 May....
...Exane likes Sampo and Lancashire as the most defensive of the property and casualty insurers....
...Before accounting rules changed and forced companies to put equity compensation in the GAAP P&L, the underlying shares still appeared in the sections of securities filings that listed the details of stock...
...The advisors to Caesars Entertainment and its affiliates included Centerview Partners, Duff & Phelps, Evercore Partners, Lazard Freres & Co., Perella Weinberg Partners L.P., Paul, Weiss, Rifkind, Wharton...
...Sure I suffered racist abuse, the P word and all the rest of it, but [I] went on and did the jobs that I did.”...
...rates rise: a one-stop guide to what happens next• QE with Chinese characteristics by Gabriel Wildau• The rise of the index: an essential series for investors and markets• ICYMI: Why traders flock to S&P...
...& Johnson Professional Export Johnson Matthey , Emission Control Technologies Jon Tibbs Associates JSB Group K Kiln Flame Systems L Leverton Clarke Linguamatics Loch Fyne Oysters London Tradition...
...Peter Grauer, Mr Bloomberg’s successor as chairman of Bloomberg L.P, earlier this month embarrassed the Labour party by signing a letter in support of the Conservatives only a day after Ed Miliband launched...
...ACT Training • Brother Industries (UK) • Cadwyn Housing Association • Carillion Civil Engineering • Dwr Cymru Welsh Water • Finance Wales • GD Environmental Services • Network Rail Cymru Wales • P&...
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