Hints and tips:
...A tank dress in putty-coloured sequins and baguette rhinestones presented a more wearable option for the Oscars, (perhaps minus the trompe l’oeil outline of boxer shorts)....
...In 2017, a 37m-high rocket inscribed with Chanel’s double-C logo almost did, rising up like a NASA simulator at the end of its AW17 presentation....
...“To the extent that he’s resonated at all, [Starmer] is in the same economic place as Gordon Brown,” says Raab....
...Former leaders who signed the letter included Gordon Brown, former UK prime minister and François Hollande, former French president....
...This aggressive mark down came in the form of ERVs -12% l-f-l and yields expanding +17bps....
...Le problème de la France c’est plutôt un problème de construction des inégalités, c’est pour ça que c’est par l’éducation et le social qu’il faut le corriger, mais c’est la formation des inégalités....
...Because of its merger with Sprint in Apr-20, TMUS's portfolio of spectrum below 6 GHz is now c.3x that of Verizon and c.2x that of AT&T....
...It is impossible to be precise but we think that in general when companies refer to “materially ahead” they are referring to c.10%....
...Here’s Panmure Gordon: The contracts are worth £355m between 2021 and 2026, which equates to around 2.0% of FY21E revenue pa....
...at the ‘C-suite’....
...The reduction in earnings for 2020E is largely driven by LGC, which paused traditional construction during lockdown....
...We forecast an avg month-end net cash position in FY20 of c.£190m, (from £324m at FY19)....
...And with value likely to outperform both in the mild and severe scenarios, AXA is the pick among the multilines, L&G’s favoured in life, plus Prudential....
...Here’s Ian Gordon at Investec: We think that CEO Alison Rose faces something of a Hobson’s choice as she seeks to respond to a c.21% YoY decline in underlying profit before tax in 2019; today’s down-sizing...
...Against the general trend, yesterday Ferrari confidently guided to a V-shaped recovery in its P&L from H2/20....
...Favour defensives over cyclicals and “emerging markets cement versus developed markets construction if the outlook for the region stabilizes earlier notably led by China where activity has already started...
...We forecast c.10-15% FY20 earnings decline in Construction, but Support Services should be more resilient....
...Data centre construction is a c$50bn industry in the US, or 20% of US office construction (vs 10% in FY15);and 56% of starts are concentrated in 8 states....
...Company commentary supports our view of limited direct impact to P&C : Hannover Re: noted a potential €200m loss across P&C and L&H; Munich Re: noted a €500m loss should all the events it covers for communicable...
...As a result, Ashtead now sees PBT for the financial year ending Apr-20 to be c£1,050m (-10% vs. previous consensus c£1,170m)....
...Results from L&G, TT Electronics and Elementis. ... Hostelworld and Wizz Air both give light warnings due to the obvious. ... Malarkey Tuesday. ......
...This tends to be c.20% higher....
...Also weakness in L&S. And, for Remy specifically, we should also note a Credit Suisse downgrade saying nCov may be temporary but cognac brand dilution is permanent....
...He sold Pierre Soulages’ “Composition” (c.1952) for €450,000, and André Masson’s “L’homme ivre (l’homme libre)” (1962) for €220,000. Both works were acquired by European collectors....
...Pressure has mounted following the collapse in January of one of Britain’s largest construction companies, Carillion....
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