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Related Special Reports
...Teck and Glencore have both been speaking to investors, with one key vote being Teck’s largest shareholder, the China Investment Corporation....
...founder of investment boutique Algebris Investments and host of the dinner....
...From the below tweet: Alameda Research made a small investment in SEBA’s Series C funding round, acquiring a minority stake (<1%) with no voting rights.https://twitter.com/WeAreSEBA/status/1592167033445421059...
...L’Europe, c’est moi Emmanuel Macron has left no doubt that he wants to lead a Europe with more swagger in its step as he takes over the EU’s rotating presidency, writes Sam Fleming in Paris....
...Optimists, including most politicians and some central bankers, hope the recovery will not resemble a U or an L shape, but a V for victory. Market indices appear to agree....
...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....
...L’Oreal’s been downgraded at Credit Suisse. Stock priced for a V-shaped recovery that’s looking increasingly unlikely, they say: Downgrade to Underperform (from Neutral)....
...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....
...[But] this current crisis has caused that to evolve to the societal aspect of the role of corporations.”...
...Causeway Capital Management LLC, the LA hedge fund, has declared 4.88 per cent of Micro Focus....
...We believe SDR benefited from investors’ demand for strong balance sheet firms, thanks to its c.£1bn of excess capital....
...Reliance Industries has raised $847m, selling stakes of its digital unit Jio Platforms to private investment firm TPG and private equity firm L Catterton....
...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...
...We now have the answer: there are £120m of new facilities contingent on a c£140m raise (a new 13.7% of the share capital will be issued soon)....
...Against the general trend, yesterday Ferrari confidently guided to a V-shaped recovery in its P&L from H2/20....
...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. .....
...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...
...Rose retains the end-FY21 c.14% CET1 capital ratio target (which might disappoint in the context of capital return expectations) but moves to a medium to longterm target of 13-14% (which will be taken a...
...Will Wallis at Numis can give us the detail of the strategy review: We summarise the outcome as a focus on self-help, requiring upfront P&L investment....
...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....
...The V-shaped recovery in consumer spending feels too bullish in our view....
...There was no update on its capital position at the time of the 2019 results presentation....
...What happens further down the P&L is largely a question of capital structure, but it appears most will be either loss-making or make only marginal PBT....
...One mystery here is the identity of the investment consortia buyers, “Gemstone Investment Holding Ltd” and “Allied Cigar Corporation, S.L”....
...The Covid-19 virus transmitting internationally has several implications for the insurance sector: 1) market moves will impact asset values, capital positions and investment returns; 2) sales and flows may...
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