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...On the same day, L&G chief executive Sir Nigel Wilson decried the “perpetual drift” of companies away from London’s stock market, attributing it in part to a decline in equity holdings among pension funds...
...katie.martin@ft.com This article has been amended to update Jean Boivin’s job title Letters in response to this column:Bond investors — don’t look a gift horse in the mouth / From Tony Smith, Bishop’s...
...These are the components of the Granolas: GSK, Roche, ASML, Nestlé, Novartis, Novo Nordisk, L’Oréal, LVMH, AstraZeneca, SAP, Sanofi. Trips off the tongue, right? Granolas....
...Simões, who joined the business from Santander, replaced Sir Nigel Wilson, L&G’s chief of more than a decade....
...Opinion: Crypto is playing dress-up to make itself look grown-up, writes Katie Martin, but its new clothes may not prove a good fit....
...L&G declined to comment....
...Unhedged and Behind the Money 🎧: Our podcasts join forces to answer listener questions, featuring hosts Ethan Wu and Michela Tindera, plus US financial commentator Rob Armstrong and markets editor Katie...
...[Gallerist] Nina Johnson once gave me a Nicola L piece; it’s called Forest, and it was from a show that Nina had of Nicola’s work....
...Investing: There may be some truth to fund managers’ grumbles that passive investing meaningfully alters the markets, writes Katie Martin....
...Dividends: A return to the lavish dividend days of a century ago is unlikely, writes Katie Martin, but Meta’s move to start payouts could signal an upcoming switch in investor mindset....
...L&G said that it had written £13.4bn of pension transfer business globally so far this year....
...The fund’s other top holdings include Microsoft, L’Oréal, and luxury goods company LVMH....
...L&G’s retail business was also “bolstered” by rising individual annuity sales....
...One of my bibles is Katie Stewart’s The Times Cookery Book, in which I found a recipe that breathed sunshine in the April storms: “talatourie”, “a delicious recipe”, Stewart tells us, “from Cyprus”....
...Shepherdson argues that declining S&L tax revenue augurs poorly for future S&L spending, as this chart shows: It’s a reminder to investors that markets are sensitive to changes, not levels....
...“We are expecting a similar number of large transactions to close in the second half of the year,” L&G said....
...Chaumet gold and diamond L’Épi de Blé de Chaumet ring, £10,200. Saskia Diez sterling-silver Long Star earring, €105 for a pair Paul Smith silk shirt, £425, and matching silk tie, £110....
...And it’s that L-word that really gets people worried....
...In an updated prospectus, Birkenstock said that it would sell stock at between $44 and $49 per share, which would raise up to $1.6bn for the company and its private equity owner L Catterton....
...Under Shane Smith, Vice expanded into a new media empire. The Verge explores how it all came crashing down. Newsletters have been touted as the possible successor of newspapers....
...L&G’s shares fell more than 2 per cent following the news, against a broadly flat FTSE 100 index....
...The top five contributors to the fund’s performance last year were Meta Platforms, Microsoft, Novo Nordisk, L’Oréal and IDEXX Laboratories....
...paulsmith.com Gucci raffia GG Marmont shoulder bag, £1,760, matchesfashion.com Guess Originals viscose-mix GO SOPHIA jumper, £30, overkillshop.com Aurélie Bidermann gilded oyster turquoise Alicanta ring, €250 L’...
...Like bigger peers such as L&G, Just has a record pipeline of such deals in what is expected to be a record year for the market....
...Katie MartinWhat a name. That’s superb. Ethan WuRight? Jay Gould. Yeah, G-O-U-L-D. I didn’t know terribly much about this guy....
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