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Related Special Reports
...Customers buy L’Oréal products in response to the pitch “because you’re worth it”. They need to be: the SkinCeuticals Vitamin C antioxidant serum is hardly a snip at £165 for 30ml....
...The NHC reported just 2,249 locally transmitted cases on Wednesday after the asymptomatic category was axed....
...Plus, a classic Provençal mas in towns and villages like Ménerbes, St-Rémy, L’Isle-sur-la-Sorgue, Gordes (where Knight Frank is selling a seven-bedroom house for €2.35mn) and, of course, Cézanne’s native...
...In 2006, the maison bought Villa Empain in Brussels, restoring the house and turning it into a Centre of Art and Dialogue between eastern and western cultures. boghossianjewels.com C is for Brunello CucinelliThe...
...Dall-E is spelled D-A-L-L dash E. It’s a portmanteau of Wall-E, the Pixar robot, and Salvador Dali. And this software is part of a new trend in digital technology called AI-generated art....
...“Anything below 1 per cent is really just clinging on now,” says David Hollingworth, associate director at broker L&C Mortgages....
...Which must make L’Intégral Anti-Age La Cure, its new skin-resetting regimen, at £775 for a four-week supply, a veritable tapis rouge....
...L-f-l rents down 27%: net rental income fell down to just £87.3m which represents a l-f-l fall of 27% (excluding premium outlets), as a result of covid and the reduced rent collection rate....
...“L&G offers a 6.3% 2020E dividend yield, 1.2% above the sector average. Pre-2016 L&G's yield averaged 0.4% above the sector.”...
..., with COVID-19 response, healthcare, foreign policy,especially China,and federal tax rate etc. change much ahead, in our view....
...Apart from negative l-f-l rental and value growth, we assume recapitalizations to an LTV of c.35% by 2021 lowering the EPS and NAV by c.49% and c.61%....
...This tends to be c.20% higher....
...The C-suite ignores this at its peril; particularly if Covid-19 continues to spread — and the impetus to “Build Back Better” continues to swell....
...We also suspect the retail element in healthcare will take time to recover....
...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...
...0%, European Healthcare -3% and Student Housing -30%....
...On current multiples LSL is trading on a PE of 12.8x fo Dec 2020 while Countrywide is on 12.2x our 2020 estimates albeit it has c. £75m of debt vs a market cap of c. £123m....
...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...
...non-contracted commercial and c.10% product sales....
...The division is margin dilutive to the Group at a c.13% operating margin (Group c.18-19%)....
...The group has c.2.7x ND/EBITDA against a covenant of 4.25x....
...In contrast, Japan’s Health Minister said: “It no longer makes sense to test everybody who might have been exposed… as doing so would overwhelm the healthcare system”....
...Mr Carreyrou rejects the argument that this was a healthcare company that attracted mainly “dumb money”....
...Also unresolved is Nestlé’s remaining 23 per cent stake in L’Oreal, worth about €27bn, a remnant of a deal struck in 1974 when L'Oréal heiress Liliane Bettencourt feared nationalisation by France....
...Nestlé would also build on its strong position in emerging markets and pursue growth in consumer healthcare....
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