Hints and tips:
...It is at risk of a downgrade by rating agency S&P Global if it spends more than $20bn on spectrum and its earnings are flat this year....
...Current trading: As indicated in June, sales in April and May were c.-95% YoY and June sales have recovered slightly but are still c.-90% YoY, with stronger performances in Continental Europe and North America...
...Jelly, Warwickshire Crossword 16,093: V Le Quesne, Salisbury; Sue Topham, Newark; Anthony Evans, Hove Polymath 1,009: AC Lambirth, Cyprus Crossword 16,087: Judge Dredd, Wiltshire; Hannah Robertson Wimbledon...
...P&C outperformed into the corrections in the past 8 years....
...In terms of the impact, we expect that this will continue to drive prices up for the near future, while the insurers most exposed are Swiss Re (via P&C Re and Corporate Solutions), Allianz (via AGCS), AXA...
...On Friday 5th June Premier announced revised terms for the acquisition of two producing North Sea oil & gas assets from BP....
...more of a primary event), UK P&C (~14% of premium), and then the multilines (~10%)....
...UK North Sea - Shut it in, high-grade the portfolio. EnQuest’s cash netback lead among UK E&P’s has improved further as yet more legacy high-cost fields are shut-in permanently....
...Here, an alternative option could be for Centrica to sell its North American energy supply business. Overall, we estimate 12%-40% downside under this scenario....
...at the ‘C-suite’....
...If the bondholders call in their debt, M&B could sell some of its 1,356 securitised pubs (last valued at c£4bn) to pay off c£1.7bn of notes and c£0.3bn of MTM swaps....
...We believe risk is pronounced despite trading on 2.3x CY21 P/E. We downgrade to Underperform with c.18% downside. Morgan Sindall (Buy; PT 1,550p)....
...All of which means we’re good for a V-shaped recovery that’s not yet priced in, says Exane, which then goes stockpicking....
...Yesterday afternoon we looked at what happened to the S&P 500 in the week, six months, and one year after these last 7 emergency cuts....
...Stay U/P SM; valuation still too rich. ......
...The division is margin dilutive to the Group at a c.13% operating margin (Group c.18-19%)....
...Heading into what we anticipate to be a c....
...As we have stressed before, C&I loan conditions are crucial for investment in human, physical and working capital....
...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....
...Now over to RBC Capital Markets for some global E&P sector breakevens: And back to Stifel: Survivors: (1) Gas producers: Serica Energy is 85% North Sea gas with cash and no debt; Diversified Gas & Oil...
...Divisions within the North as well as the North/South divide....
...Qubits v bytes: how quantum computing works Quantum computing taps into the quirky behaviour of sub-atomic particles, which bend our normal understanding of physics....
...Plus ça change, plus c'est la même chose. As of Friday, the US stock market was exactly where it started the year....
...The productivity growth rate of US hospitals has been underestimated by the official data, which fail to properly adjust for the severity of patient illness, according to a study by John A Romley, Dana P...
...P aims to keep Q from choosing to perform action A; 2. P communicates a claim to Q; 3....
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