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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...
...This is an audio transcript of the Life and Art from FT Weekend podcast episode: ‘L&A — What young wine drinkers want’ Lilah Raptopoulos This is Life and Art from FT Weekend. I’m Lilah Raptopoulos....
...Paul L Colby Alexandria, VA, US...
...The chief executive of L’Oréal, the world’s biggest beauty company, has predicted that price increases will slow this year after they helped to propel growth in the global beauty market for the past three...
...More to the point, it carries a 40 per cent premium to the fast expanding luxury juggernaut LVMH. That sort of gap is only justified if L’Oréal is a significantly safer bet....
...Rapid growth in emerging markets including India, Brazil and Mexico provided a boost, accounting for 15 per cent of L’Oréal’s annual sales, but 30 per cent of its growth....
...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....
...This could represent a shift to a slightly more hospitable climate for L/S hedge funds, whose shorts have generally been a grisly mess over the past decade, he argues: Macro Matters for Hedge FundsRegardless...
...For instance, just one tech company’s recent gains added the equivalent of the market capitalization of the bottom 100 companies in the S&P 500, and the size of the crypto market doubled since last fall....
...The benchmark S&P 500 fell 0.2 per cent on Thursday afternoon, notching five straight daily losses for the first time since October....
...S&P said it originally expected the war would not last “more than six months” as it downgraded Israel’s sovereign credit rating from double A minus to A plus....
...That would bring them back to where they were a decade ago. Also on a multiple of sales, L Catterton’s offer looks underwhelming — just 1.7 times this year’s revenues....
...L Catterton said in a statement that the “delisting is a precondition to ensure the pursuit of the [Tod’s] future growth programs [sic] and consolidation . . ....
...The S&P 500 declined on Thursday, headed for its fifth straight loss since October....
...The blue-chip S&P 500 dropped 0.9 per cent on Friday, capping its longest losing streak since October 2022. It fell for the third week in a row, losing 3.1 per cent across five sessions....
...Goldman Sachs gave it a go with the ‘Granolas’ or, more accurately, GRANNNLLASS: GSK, Roche, ASML, Nestlé, Novartis, Novo Nordisk, L’Oréal, LVMH, AstraZeneca, SAP, and Sanofi....
...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....
...The Nobel and Pulitzer Prize-winning author Pearl S Buck amassed a personal library that fills two rooms of her 19th-century Pennsylvania farmhouse....
...M&S’s contract with HSBC, which owns M&S Bank, is up for renewal. M&S is likely to push for more control and a bigger cut of the spoils....
...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....
...The bank’s upgrade follows its forecast last week that Brent crude prices will hit $90 a barrel by the third-quarter....
...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....
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