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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...
...Frankfurt-based asset manager Deka, which is a top 10 shareholder in Munich Re and a top 20 shareholder in BASF according to data from S&P Global, last year adopted a similar voting policy to ISS....
...The company plans to keep its three dealership sites in Poland, which it will absorb into the distribution arm of its business....
...Should companies be punished for handing money back to shareholders? The Department of Justice seems to think so....
...On that basis, its $18.25bn acquisition of speciality building products supplier SRS Distribution, including debt, offers good news and bad....
...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....
...Goldman estimates that the median short interest in S&P 500 companies is still remarkably low at 1.7 per cent, but is up from 1.5 per cent at the end of 2021....
...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....
...(Alphaville believes that using L’Oréal as an O is cheating, even if it makes your acronym look nicer.)...
...Financial data company S&P Global is nearing a deal to buy research platform Visible Alpha that could value it at more than $500mn from a consortium of investment banks including Goldman Sachs, Jefferies...
...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....
...Two weeks after losing its most prominent brand ambassador, the weight-loss group lost another fifth of its value on reports its lenders were preparing for debt talks after S&P cut its credit rating to a...
...That partner has now arrived in the form of LVMH-backed private equity firm L Catterton and a deal that will bring down the curtain on Tod’s more than two decades as a public company on the Milan stock exchange...
...The crunchy acronym was coined by Goldman Sachs for pharma companies GSK and Roche, Dutch chip company ASML, Switzerland’s Nestlé and Novartis, Danish drugmaker Novo Nordisk, France’s L’Oréal and LVMH, the...
...The Spanish company also scored a big win in 2022 when it fended off L’Oréal to acquire Byredo, a cult Swedish brand founded by Ben Gorham, a former basketball player.Asked why a founder would choose Puig...
...Shares in the company, which declined 5.6 per cent on Monday, have fallen more than a third this year, making it the second-worst performer in the S&P 500 and underperforming those of legacy carmakers....
...Apple, on the other hand, was until recently the largest company by market cap (now it’s Microsoft), and it is still almost 6 per cent of the S&P 500....
...We do not forecast the company will generate sufficient EBITDA to cover its substantial cash interest payments....
...S&P noted in a March 5 note that the company had just $44mn left of cash on hand and it expected Equinox “to be unable to generate sufficient cash flow over the next year to cover fixed charges” if it were...
...One is that Apple blocks the distribution of some apps and services that might threaten its model....
...The first is a standalone public company — albeit with a lot of other businesses bolted on — while the latter two are part of broader listed companies, S&P Global and LSEG respectively....
...And while corporates have been the dominant buyers of equities over the past year, there’s $6tn of dry powder sitting in money market funds that could be dislodged by lower interest rates: The S&P 500’s...
...The S&P 500 is up 4 per cent year to date....
...The downturn in the eurozone’s struggling economy is easing, according to a closely tracked business survey, which found a stabilisation of activity at services companies offset a steep decline in manufacturing...
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