Hints and tips:
...But, of course, there’s a reason why it’s widely called Shitibank; the sprawling, gormless Citi has for a v v v very long time proven adept at blithely ambling onto various rakes around the world....
...Simone Verri will be head of Emea structured credit products, while Jeroen Rombouts will lead Emea investment grade capital markets and risk management, and Jonathan Fine will head global investment grade...
...It limits credit risk and is available on the exchange.”...
...Let us know what you think at imani.moise@ft.com and sid.v@ft.com. A programming note: FintechFT will take a one-week break in observance of the Easter holiday. The next issue will be April 25....
...Jefferies goes up to “buy” on Marks & Spencer, 160p target price. MKS' FY confirmed improving Food resilience, a trend we expect to persist in the months ahead....
...Credit markets also tallied losses, with a closely followed fund that buys junk bonds, known by its ticker HYG, declining 0.7 per cent....
...But like many peers, the group must contend with the restricted availability of trade credit insurance, and has experienced some turnover at the top of the business....
...On the last Sunday of April 2019, a sleek Gulfstream V jet belonging to Occidental Petroleum touched down at Omaha airport....
...AB Foods, Kingfisher and Marks & Spencer become our new top picks....
...Xerox wants to give HP’s board its walking papers We’re all guilty of overusing the David v Goliath trope but in the case of Xerox and HP, it really does apply....
...Idexx said in October that the animal health market had experienced a “V-shaped recovery”....
...Thursday 11:00 BST Sellside stories ● Credit Suisse downgraded Marks and Spencer to “underperform” from “neutral” with a 250p target price....
...WPP will also reduce is planned capex from £400m to v£300m....
...Citi downgrades AB Foods and Marks & Spencer in a retail note....
...Archer Daniels Midland, Bunge, Cargill, Louis Dreyfus — known as the “ABCD” of agricultural traders — as well as Cofco International and Glencore, have committed to sharing granular data on their suppliers...
...The four new hires were announced by Nat Zilkha, the KKR head of alternative credit who will serve as Gibson’s chairman....
...Sellside stories ● Credit Suisse upgrades Marks and Spencer to “neutral” from “underperform” ahead of results due on May 23, in spite of cutting earnings forecasts to reflect poor weather....
...And in the days of very cheap credit they have loaded too much debt on to their balance sheets.”...
...Credit Suisse was the sole underwriter of the Social Capital flotation. Shares were allocated to a concentrated group of investors, including mutual funds, hedge funds and sovereign wealth funds....
...Sainsbury closed 3.8 per cent lower at 252.3p and Marks and Spencer slipped 1.9 per cent to 345.2p....
...Another featured a Czech woman, Petra, who had taken a small loan from the BFAWU credit union to help prepare her family’s new home in Wales....
...The active management of legacy fleet costs is a really big thing....
...“Does the company remain committed to debt reduction or move back to a more growth-focused approach,” said Liam Fitzpatrick, analyst at Credit Suisse....
...John Rogers, credit analyst at Moody’s, called the results “not great” and said prospects for another year of large crops meant continued pressure....
...Three smaller deals which priced in 2016 — Paragon Commercial, Midland State and Argentina’s Grupo Supervielle — are all up....
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