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...US asset managers Fidelity and Capital Group between them raised their stakes by more than SFr1.5bn and are now top-10 independent shareholders, according to data from S&P Capital IQ....
...But at least half of 2023’s reductions came from Wall Street lenders, whose investment banking businesses have struggled to cope with the speed of interest rate rises in the US and Europe....
...European coffee group JDE Peet’s is replacing its two top executives as controlling shareholder JAB Holding seeks to shake-up the owner of L’Or, Kenco and Douwe Egberts following a long period of underperformance...
...F1’s operating profit rose by 64 per cent to $392mn in 2023 from a year earlier, as revenues jumped to $3.2bn from $2.5bn....
...Another short-selling aspect that often gets forgotten is how higher interest rates also help L/S hedge fund returns by increasing their cash returns....
...The UBS sale lifted AT1 borrowing this year to $53.5bn, according to data from LSEG — down considerably on the previous four years to date, but above 2018’s figure of $49bn....
...As such the buyout does not look too shabby at 20 times this year’s operating profit on S&P Capital IQ estimates. But with more effort management might be able to double these earnings....
...S&P gave the new UBS AT1 a BB rating, five notches below its A- credit rating on the bank....
...According to analysis by rating agency S&P, Spanish and Italian lenders have also passed on a smaller portion of the benefits of higher rates — known as deposit beta — to depositors than other banks, including...
...In the beige, bureaucratic headquarters of the Time Variance Authority, which keeps temporal temperaments in check, Agent Mobius (Owen Wilson) and cosmic horologist Ouroboros (ever-enthusiastic Ke Huy Quan...
...(Alphaville believes that using L’Oréal as an O is cheating, even if it makes your acronym look nicer.)...
...The group has a record of profitable exits — such as 2023’s $8.6bn listing of German sandal maker Birkenstock — and Tod’s has a good potential to turn into another success story, say analysts....
...The Granolas as a group have climbed 18 per cent over the past 12 months beating the Stoxx 600’s 7.5 per cent rise over the same period....
...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....
...Using national level S&L data back to 1955, we find that changes in revenues over the prior year account for 40% of the variance in S&L consumption and gross investment....
...The investor group also includes private credit groups Ares Management and HPS, and L Catterton, a private equity group that invested in Equinox in 2017....
...NBIM, which was already a top-10 UBS shareholder, has overtaken US investors Dodge & Cox and BlackRock to become the largest investor, according to S&P Capital IQ....
...Like 2019’s Revisor and the Olivier Award-winning Betroffenheit, in Assembly Hall, the dancers from Pite’s Kidd Pivot company mime and lip-sync to Young’s rapid-fire text....
...The Fédération de l’industrie Horlogère Suisse has released its export report for March 2024 and . . . hoo, boy....
...The vague sense of a community stirred into solidarity — or revolt — is intensified by Owen Belton’s pulsating soundscape with its mash-up of martial melodies....
...UBS has a S$700mn ($510mn) bond that is callable at the end of November and $2.5bn bond that is callable at the end of January....
...Free cash flow, however, reconciles those book accounting accruals of the P&L ledger to capture the real flows of actual dollars coming in and out....
...“If you have fewer banks in the system, they control the market and they can more effectively control how much is passed on to consumers.” said Charnay of S&P....
...These experiences inspired Cortellesi’s first hit film as co-writer, 2014’s Do You See Me?...
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