Hints and tips:
...As such, we see the CET1 ratio dropping below the interim target in 2024 (as a result of losses), but still above regulatory minima at c.12%....
...“I saw the kimono exhibition at London’s V&A before things closed down – I often go there for inspiration,” she says....
...France L&S and Italy will not pay dividends this year, and XL Bermuda is unlikely to. The slack is only partly taken up by France P&C which is over distributing....
...JP Morgan -- Jupiter’s corporate broker and joint advisor on its not very popular recent deal to buy Merian -- says to buy Jupiter. “Overweight”, December 2021 target of 300p....
...the level of global oil demand over time relative to global refining capacity....
...Then there’s Zillah Byng-Thorne, the senior independent director, who was an advisor to the company for four years before joining its board in 2018....
...Management guides to c£60mn of net benefit in 2H (c£78m extra costs offset by six month business rates relief of £137mn)....
...at the ‘C-suite’....
...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. .....
...Here’s Investec (sell) to summarise: [L]ockdowns are impacting consumption in North America (c. 30% of sales), Europe (c. 20% of sales), India (c. 10% of sales), Africa (12% of sales) and many countries...
...Rate relief drops away in FY22 so the recovery profile, in EPS at least, is not V-shaped....
...And some of today’s most powerful collectors are investing in works that speak to global challenges – from climate change to racial inequality....
...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....
...Q4 2019 u/l PBT beat “rebased” consensus expectations by £111m (13%), though the outlook statement is somewhat sobering. ......
...HSBC has some discussion about V and W shaped recoveries; its own model resembling “the Nike swoosh” is made by combining a proper V in mainland China forms and more of an L among Western European and American...
...Against the general trend, yesterday Ferrari confidently guided to a V-shaped recovery in its P&L from H2/20....
...The V-shaped recovery in consumer spending feels too bullish in our view....
...We believe that, as occurred in China, global PMIs will fall to around 30, which would be consistent with a trough of -c.2% global GDP growth....
...(v) Restructuring continues. Of course it does. But what about that Tesla, eh?...
...L.P. (“KKR”) and GK Investment Holding Group SA (“GKI”) (each a “Potential Offeror”) regarding possible offers for the Company....
...Within that, Astra does expect the global impact from COVID to last “several more months.”...
...The group has c.2.7x ND/EBITDA against a covenant of 4.25x....
...Containment of the number of new cases has been impressive in mainland China, and we now expect a V-shaped recovery from the second quarter onwards there....
...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...
...Valves Group All3Media International Allstate Northern Ireland Ampetronic A-Safe (UK) Aspen Pumps Axis Productions B The Berkeley Group Holdings BT Technology, Services and Operations Bute Fabrics C...
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