Hints and tips:
...Instead, the company needs to somehow demonstrate that its entire “operational culture” (leadership, management structure, quality control processes) has been overhauled, root and branch....
...S&P Global Ratings and Moody’s have declared its debt to be in default, while the company and its creditors have hired lawyers for a possible loan restructuring....
...Between heavy marketing and operational costs and a multibillion-dollar acquisition, its nearly $6bn of junk bond debt was looking untenable....
...Křetínský’s portfolio includes stakes in the UK’s Royal Mail, grocer J Sainsbury, and West Ham football club as well as German wholesaler Metro and US sneaker chain Foot Locker....
...On the equity side, small-cap stocks continue to be the story: while the S&P 500 has shrugged, the Russell 2000 is up 6 per cent since Jay Powell started talking....
...Michael J. Rongetti will become interim head of asset management and Michael Bonacker was appointed group head of transformation....
...S&P Global Ratings noted in December that Citadel Securities’ “complex systems and algorithms” created elevated operational risk, even if it has “strong risk-management capabilities”....
...“It remains to be seen to what extent the carbon price will drive investment decisions and retirements of existing operational units, especially as coal prices remain elevated.”...
...Jeremy HuntFormer UK foreign secretary and health secretary Mo IbrahimFounder and chair, Mo Ibrahim Foundation Philip JansenChief executive, BT Group Liz JarmanChief executive, Living Goods Salim S...
...But our strong financial performance is driven by our excellent operational performance,” said acting chief executive Jim North....
...The surge comes in a quarter when companies in the S&P 500 are expected to suffer an overall revenue decline of more than 2 per cent, with earnings down 17 per cent....
...Alex Gorsky, chief executive, said the company was “built for times like this”, adding: “We are leveraging our scientific expertise, operational scale and financial strength in the effort to advance the...
...Macy’s balance sheet has long been in better shape than more distressed rivals, although the department store chain lost its investment grade rating from S&P Global last month and was cut further into junk...
...Letter in response to this article: Lowering the tone / From J M L Stone, London W1, UK...
...For a business with such high operational gearing, that is uncomfortable....
...The company’s FY 2019 net debt/EBITDA of 3.5x left it with a limited margin for error and restricted its operational and strategic flexibility....
...Then again, operational excellence can only get you so far....
...That’s bad for J Sainsbury, whose bank has been a white elephant for some time....
...Its real profit will come at the expense of FTSE laggards Kingfisher, Centrica and J Sainsbury, not BA and Ryanair....
...“Usually dissident groups go after companies with lagging financials or operational mis-steps,” said Kai Liekefett, a lawyer for TPL....
...Shares in J&J rose 2.6 per cent to $140.06 in early trading in New York on Tuesday....
...However, current earnings forecasts are inherently volatile, partly from client trading gains or losses, but also through the operational gearing in the business model....
...The Covid-19 vaccine(s) will prove a shot in the arm for both the UK economy and its peers....
...Between January and August this year, debt to ebitda ratios on European deals averaged 5.59 times, according to S&P Global Market Intelligence....
...London's FTSE 100 is on course for a 0.4 per rise in early trade, while in New York the S&P 500 could climb a further 0.8 per cent when it opens in a few hours time....
International Edition