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Main shareholder JAB Holding seeks to shake up business after period of sustained share price underperformance
...shortage of copper because of a lack of new mines under development — even as demand is set to almost double to 50mn tonnes per year by 2035 because of the boom in renewables, EVs and AI — according to S&...
...Ian Lance, a fund manager at M&S shareholder Temple Bar Investment Trust, said the latest results “demonstrate that the strategy to reshape M&S is starting to deliver”....
...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....
...“I’m very grateful to Katie for her support in seeing M&S through this important period in the reshaping of the business....
...M&S and John Lewis, they will have to run faster.” M&S cannot afford distractions....
...Tim Steiner, Ocado’s chief executive and co-founder, insisted the relationship with M&S was strong, but added: “We believe that we have a very solid case to get full payment, we know that M&S may not entirely...
...It’s a lot cheaper than the S&P 500 because the S&P 500’s price-to-book value has really gone up in recent years....
...I’m a bit sceptical, as I noted in yesterday’s letter, but then I’m a journalist. If any non-journalists have thoughts, please send them along: robert.armstrong@ft.com. Does Buffett matter?...
...Their low key M&A strategy also helps. Acquisitions, if they happen at all, are of the small, bolt-on variety....
...“M&S’s decision to increase minimum pay levels in line with numerous other supermarkets reflects this reality,” Speke said....
...S said on Friday....
...Financial markets closed US: April employment figures Results: AES Q1, Crédit Agricole Q1, Hershey Q1, Ingersoll Rand Q1, InterContinental Hotels AGM & trading statement, Legrand Q1, Société Générale Q1...
...Partly because it’s been subject to some MainFT scrutiny as a potential M&A candidate recently....
...“M&S has a history of overpromising and underdelivering.” The strong performance from Tesco and M&S comes a day after rival J Sainsbury disappointed investors with weak general merchandise sales....
...Dealing with the dividends doubters So, I’m not saying Daniel Peris got lucky....
...Under M&S’s proposals, three existing buildings would be demolished to make way for a nine-storey development, including a new M&S store, restaurants, offices and a gym....
...The S&P 500 isn’t at such extremes today....
...Here’s more on the regions driving a nascent recovery in the M&A market....
...“Every time someone on social media is like, ‘I can’t wait to cry to your new album,’ I’m like, ‘I don’t know if you’ll cry. I’m sorry,’” she told Pitchfork in 2018....
...It’s wealth porn, and I’m addicted to it — largely because, in my experience, most rich people have appalling taste....
...“I’m really very grateful,” says Casimir....
...“I’m a woman over 40, I’m not white, I’m gay, I’m a mother,” she says. “None of these things should prevent me from making music.”...
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