Hints and tips:
...There’s a Wirecard connection too: the firm which structured a Mauritian shell at the heart of Wirecard’s controversial Indian deal provided the investment structures for Vinod Adani and his associates....
...About 45 per cent of those holding S&P 500 and FTSE 350 CEO jobs in the first quarter of 2023 had previously run a division. A fifth of S&P 500 and a quarter of FTSE CEOs had held a role in finance....
...The S&P 500 reached its highest level in more than a year yesterday ahead of the meeting....
...By June next year, S&P Global is predicting the US default rate will rise to 4.5 per cent, up from 1.7 per cent at the start of 2023....
...David Sacks, a venture capitalist and close associate of Musk, is also part of the team supporting Musk, four people said....
...Adam Abbas, the co-head of fixed income at Harris Associates, said markets were “effectively” closed for triple-C rated companies looking to raise debt, raising the spectre of “a natural default cycle”....
...In recent weeks there has been a flurry of departures from the C-suite. This week Shell announced Ben van Beurden will step down at the end of this year after nearly a decade at the helm....
...By 2021, though, the figure was less than C$9bn. It is not expected to rise above C$15bn a year in the next decade....
...Data for 2020 show that fewer than 6 per cent of the chief executives of S&P 500 companies are women, while the proportion of female executive or senior-level officials and managers is just over a quarter...
...Ethan Ilzetzki, associate professor of economics at LSE: The UK will lag behind other developed economies in 2023....
...It did, by a lot. A more compelling argument may be that hedge funds shouldn’t be benchmarked against the S&P 500 because they serve a different purpose: to protect capital when markets are down....
...Our last published fair value of 440p (29% upside) is equivalent to a P/TNAV multiple of 0.79x....
...image, as well as performance,” says Pelham Smithers Associates....
...“We are at a crunch point,” says Leonard Ng, a partner at law firm Sidley Austin, who advises on UK and EU regulatory issues. “This will be a period of stress for the asset management industry....
...Associate/JV income of $421m is 27% below consensus $574m....
...Against the general trend, yesterday Ferrari confidently guided to a V-shaped recovery in its P&L from H2/20....
...“Running assets for a P&C focused insurer is different from managing the savings accumulated though life insurance products,” said Mr Holmes....
...I am buying triple-C credit in the high-yield junk bond market, triple-A CLOs (collateralised loan obligations) and triple-B corporate bonds. “An inflation breakout would worry me....
...We value JE using a sum-of-the-parts model comprising the UK, Canada, Australia and the iFood associate, which is a significant element (c.10%) of the group valuation, using a combination of sales multiples...
...Consistent with that pattern, the evidence we obtained would not support potential obstruction charges against the President’s aides and associates beyond those already filed....
...The ONS estimates the value of land and assets-over-land to be over £5tn compared to a GDP of c£2tn....
...Michael C Fina, a well-known New York jeweller that shut its physical store in 2016 in an effort to shift online, closed for good earlier this year after almost 85 years in business....
...“There was really good stock selection both on the long and short side,” said Jon Hansen, a director of hedge funds at Cambridge Associates, an investment consulting firm....
...One property deal went sour and Ms Wang, now divorced, sued half a dozen associates, according to court filings in Ontario....
...In 2017, a property fund bought out the bankrupt venture and renamed it the Adelaide Hotel. The M came off first, then the P. Soon the T, R and U were gone too....
International Edition