Hints and tips:
...Rating agency S&P downgraded the company three notches on Thursday to triple C on “non-payment risk” and estimated it had only $200mn, or half the required funds, currently available....
...Campaigners and politicians have also called for curbs on executive pay as the gulf widens between the C-suite and lower level employees....
...By June next year, S&P Global is predicting the US default rate will rise to 4.5 per cent, up from 1.7 per cent at the start of 2023....
...Marc Filippino Taylor Nicole Rogers is the FT’s US labour and equality correspondent. Thank you, Taylor. Taylor Nicole Rogers Thanks for having me....
...S&P Global Ratings downgraded Evergrande this month to triple C, deeper into speculative grade territory, as it noted a recent rise in contractor disputes....
...helen.thomas@ft.com...
...Most large consumer packaged goods groups, including P&G, are still operating on tighter margins than they were before the pandemic....
...Separate walkouts will happen at Guy’s and St Thomas’ Trust in south London and the Yorkshire Ambulance Trust after Unite union members rejected their latest pay offer....
...A motivational speech commonly attributed to preacher Eric Thomas....
...Which, outrageously, could yet be the outcome at P&O too. helen.thomas@ft.com@helentbiz...
...Today, it employs more than 1,000 staff and serves a roster of multinational companies in the Philippines that includes Unilever, P&G, L’Oréal and Nestlé....
...Atos is burning cash flow at an average of €385mn annually through 2025, according to S&P Global estimates....
...Roger Barker, head of policy at the Institute of Directors, the business lobby group, said the FRC would be left in “limbo” without the legislation to establish the ARGA....
...S&P downgraded its ratings on Evergrande’s bonds from B plus in January to double C by September, before they were removed at the request of the company last week....
...C Coaching After Wimbledon, the men’s tour will trial allowing coaching during matches....
...Jefferies has hired Thomas Blackmore as head of FIG debt capital markets for Europe, the Middle East and Africa....
...S&P lowered its rating of the company, which has $88m in coupon payments due by Friday, to triple C minus, saying it “may not be able to service its debt in time” and pointing to a potential debt restructuring...
...In its final report on Oceanwide early last year, S&P lowered its rating to triple C and warned of the “rising repayment risk of Oceanwide’s near-term debt maturities”....
...Fantasia was last week downgraded to triple C by S&P, which noted “heightened execution risk on repayment” in relation to the bond due on Monday....
...Fitch on Wednesday became the latest group to issue a warning, slashing Evergrande’s foreign currency credit rating from triple C plus to double C and saying that a default of some kind “appears probable...
...S&P Global Ratings the same month downgraded the company’s credit rating to triple C, deeper into speculative territory....
...S&P estimates Rmb100bn ($15.4bn) of them come due this year....
...Reporting by Thomas Hale, Wang Xueqiao and William Langley...
...S&P Global Ratings cut the company’s rating by two notches to triple C this month....
...Late on Thursday, S&P Global Ratings downgraded Evergrande for the second time in weeks to triple C minus, deeper into speculative grade, and said that the developer’s liquidity position was “eroding more...
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