Hints and tips:
...Words expressing politeness, such as “merci”, “excusez-moi” and “s’il vous plaît”, are used less frequently than their English equivalents of “thank you”, “excuse me” and “please”....
...The private equity firm that owns the iconic German sandal maker, L Catterton, is considering an IPO as soon as September. Sources told the FT that Birkenstock could be valued at more than $8bn....
...That’s B-O-L-A underscore S-O-L. Claer Barrett And Damien? Damien Jordan If you just put Damien Talks Money into Google, or Making Money is the podcast if that’s more your thing....
...Italian designer is known for his support of local artisans, as well as funding restoration projects around Italy, particularly in Solomeo, where his business is based....
...B Boris Becker It doesn’t matter how many titles you win as a teenager, you might still end up in the wrong kind of court, especially if you conceal £2.5mn during bankruptcy proceedings....
...Jancis RobinsonAnd what about if a picnic wine for a light red that’s nicely chilled, could be Cinsault, C-I-N-S-A-U-L-T....
...I think the extent to which, really, Putin has become the state, it's like maybe - I might be getting the French king wrong, but I think it's Louis XIV who said, l'etat c'est moi - I am the state....
...Food: strong LFL – Even following the unshuttering of the hospitality sector, M&S’ food business has done well....
...If you are looking to predict the shape of the US economic recovery — be it V, W, L or even K — don’t look at the markets....
...We do see the business as being well placed to expand as peers retrench, and its customer demographic is optimal to benefit from an early recovery....
...Here’s Numis: New business wins were ahead of expectations due to gains in C.Europe (stations in Holland and France) and N.America (three airports)....
...They’re now doing rather worse after a flood of bad press, and in spite of “dear CEO” letters this morning from the FCA agreeing that purchasers of business interruption insurance should never have expected...
...Apart from negative l-f-l rental and value growth, we assume recapitalizations to an LTV of c.35% by 2021 lowering the EPS and NAV by c.49% and c.61%....
...GLS, the Dutch-based logistics bit of Royal Mail, seems to be doing okay but the chairman says it’s of strategic importance to the group, so anyone reading the recent stakebuilding by Daniel Křetínský as...
...If the bondholders call in their debt, M&B could sell some of its 1,356 securitised pubs (last valued at c£4bn) to pay off c£1.7bn of notes and c£0.3bn of MTM swaps....
...Given the increased uncertainty linked to Covid-19, and the stock’s relatively higher exposure to impacted regions such as Europe, California and US North East, together with a weaker B/S than sector average...
...This will please the many shareholders who want the business to focus purely on the fast-growing Asian franchise and see JNL as a risky business with limited growth....
...One mystery here is the identity of the investment consortia buyers, “Gemstone Investment Holding Ltd” and “Allied Cigar Corporation, S.L”....
...We believe oil use is now down 8m b/d, coffee down c.10% and even gold sales to EM CBs are down....
...In deep value territory: Stocks are trading at 30-year absolute P/B lows and near relative 2008/09 lows (43). HEI and SGO screen as particularly cheap....
...We value IAG at a P/B 2019 of 0.4x (as for AF-KLM / at a 20% discount to Lufthansa’s P/B multiple in the lows in 2009; IAG was formed in 2011)....
...[W]e were researching Mr....
...[W]e have already seen QE being stepped up significantly in the US, the UK and Europe....
...UK recovery will be slower than peers: (a) larger service sector: (b) weakness of business investment: (c) lack of clear social distance messaging....
...B is for blown — as in, “I've blown all my money”. C is for centralisation — which is always going to be quicker and cheaper than blockchain....
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