Hints and tips:
...As debt is paid down, this gives management more options to boost returns, either through growth capex, bolt-on M&A or simply returning spare cash to shareholders....
...Similarly confounding is the Sole Albert (€66), which releases a deluge of jagged crumbs that I’m perplexed by....
...He suggested that M&A deal flow indicates that corporate buyers sees the value in the market: Spirent Communications and DH Smith both received multiple takeover bids last week at big premiums....
...The evening reaches a crescendo after dinner when Eggelhoffer wheels over a cart set with all the components for tableside crêpes Suzette and hands Lizzo the matches....
...The FT rule book has been set alight like a crêpe Suzette. “It’s nothing to do with me,” my dinner companion insists....
...The most politically charged stocks above are defence contractor Babcock and aerospace/engineering roll-up Melrose....
...“I’m already shorting all of the gilts....
...SuzetteSo I’m Suzette. I’m from London. And I love the question. If you could have the podcast cover something in depth, what would it be?...
...US Carnegie Mellon: Tepper, US University of Chicago: Booth, US University of Pennsylvania: Wharton, US Peking University: Guanghua, China University of Southern California: Marshall, US Texas A & M...
...“I’m very happy to take the mickey out of myself about things that I don’t know, like I’m not very good about finding my way around an Excel spreadsheet....
...I feel less guilty about saying ‘I’m not going to put up my hand for that’.”...
...White & Case has hired Robert Nield as a partner in its London M&A practice. He joins the law firm from Sidley Austin....
...“A lot of people talk about it but there has been very little CLO M&A,” said Leas at Apollo....
...Blenheim Forge Classic set in knife roll, £1,120 5 I’m always on the hunt for good stationery....
...And Babcock’s an “equal weight” in new coverage at Morgan Stanley: Babcock shares sit in the perceived value camp. End markets still offer growth....
...Job moves Defence contractor Babcock has a new boss. David Lockwood, previously chief executive of aerospace supplier Cobham, will join Babcock next month and take over as CEO in September....
...We’ll rattle through Dunelm and Babcock as quickly as possible. Babcock’s a mild profit warning. Aviation’s the problem, requiring an £85m exceptional....
...We upgrade Babcock from a Hold to an Add given the single-digit valuation multiples despite estimates stabilising....
...Yes, I’m a little frustrated that The Game Bird, a place I should have loved, stuffed it up so badly....
...Sales growth continued into the second half, M&B said....
...Richard Waters, our west coast editor, wrote about big tech M&A recently and Lex says the FTC is justifying its own existence by this move....
...That might explain why so many analysts recommend selling defence contractor Babcock. Contrarily, Lex thought it might be time to buy. Babcock trades close to its historic lows....
...Finally, at Babcock Archie Bethel is retiring as chief executive after 16 years. No successor has been lined up yet....
...Women also settle for lower pay when compared with similarly qualified male counterparts — as shown by Linda Babcock and Sara Laschever in their book Women Don’t Ask ....
...JPMorgan Cazenove and Peel Hunt both downgraded Babcock to “hold” in response. A valuation of less than 7 times 2020 earnings “underlines the markets scepticism towards Babcock at present”, said RBC....
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