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...European coffee group JDE Peet’s is replacing its two top executives as controlling shareholder JAB Holding seeks to shake-up the owner of L’Or, Kenco and Douwe Egberts following a long period of underperformance...
...L’Occitane trades at 15 times next year’s earnings; Paris-listed L’Oréal is above 30, according to S&P Capital IQ....
...Transfer Market Natalie Robyn is stepping down as chief executive of the Fédération Internationale de l’Automobile, the governing body for Formula One and other motorsports, after just 18 months....
...F1’s operating profit rose by 64 per cent to $392mn in 2023 from a year earlier, as revenues jumped to $3.2bn from $2.5bn....
...Another short-selling aspect that often gets forgotten is how higher interest rates also help L/S hedge fund returns by increasing their cash returns....
...As such the buyout does not look too shabby at 20 times this year’s operating profit on S&P Capital IQ estimates. But with more effort management might be able to double these earnings....
...Thus only a fraction of overall AUM is deployed in strategies that have a direct impact on the VIX® index (e.g. 1-month over/underwriting strategies on the S&P 500 index)....
...(Alphaville believes that using L’Oréal as an O is cheating, even if it makes your acronym look nicer.)...
...The group has a record of profitable exits — such as 2023’s $8.6bn listing of German sandal maker Birkenstock — and Tod’s has a good potential to turn into another success story, say analysts....
...Shepherdson argues that declining S&L tax revenue augurs poorly for future S&L spending, as this chart shows: It’s a reminder to investors that markets are sensitive to changes, not levels....
...The Granolas as a group have climbed 18 per cent over the past 12 months beating the Stoxx 600’s 7.5 per cent rise over the same period....
...Using national level S&L data back to 1955, we find that changes in revenues over the prior year account for 40% of the variance in S&L consumption and gross investment....
...Collaborators include Tame Impala’s Kevin Parker, mainstream pop’s favourite psychonaut, and former PC Music producer Danny L Harle....
...The investor group also includes private credit groups Ares Management and HPS, and L Catterton, a private equity group that invested in Equinox in 2017....
...“Higher interest rates are benefiting L&G’s large pension business, and Aviva’s ongoing transformation is reaping rewards,” she said, noting its diversification into wealth management....
...Free cash flow, however, reconciles those book accounting accruals of the P&L ledger to capture the real flows of actual dollars coming in and out....
...The Fédération de l’industrie Horlogère Suisse has released its export report for March 2024 and . . . hoo, boy....
...The wind was in their sails following their 1971 breakthrough album, Tago Mago, and its successor, 1972’s Ege Bamyasi. Suzuki sang on both....
...These experiences inspired Cortellesi’s first hit film as co-writer, 2014’s Do You See Me?...
...Global demand for plastics, which makes up 50 per cent of petrochemical demand, is expected to nearly double by mid-century, according to S&P Global Commodity Insights....
...Revenues have been flat for the past seven years, according to S&P CIQ data, which means they are falling in real terms....
...L&G: Shares in the UK-based insurer slipped 4 per cent despite strong annuity sales after it posted a first-half operating profit of £941mn, down 2 per cent year on year....
...Since 1990, missing the 30 best days of the S&P 500 cuts your compound returns in half....
...It was here that he met his wife, and in 1975 they set up their own business in a basement next door to the ultra-French Paris bistro L’Ami Louis, recruited a couple of Sicilian tailors and started to sell...
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