Hints and tips:
...The US property and casualty insurance industry has suffered through a summer of devastating thunderstorms on the continent....
...After 26 years of crafting catered chalet holidays with childcare, the company knows that it’s the little things — complimentary nappies, free babysitting on the chalet chef’s weekly night off and quiet...
...This year, though, the Trust is heading into the urban centre of Manchester to open a property that sits on the doorstep of Aviva Studios, home of Factory International and Manchester International Festival...
...“There are no equivalent 100 per cent mortgages in the standard market,” says David Hollingworth of UK mortgage broker L&C....
...Dude ranches In the Rockies west of Denver, the C Lazy U ranch has been welcoming visitors for a taste of cowboy life since the 1920s....
...There’s been a rash of similar speculation of late, with the Spanish press linking Brookfield with Merlin Properties just yesterday....
...Mobile will be lower than the previous guidance of c.£200m, and in the range of £125m-175m....
...Because of its merger with Sprint in Apr-20, TMUS's portfolio of spectrum below 6 GHz is now c.3x that of Verizon and c.2x that of AT&T....
...“A lot of lenders moved away from accepting as much variable income as they did before the pandemic,” says David Hollingworth, director at mortgage broker L&C Mortgages....
...L&G and its UK life peers were broadly allowed to pay dividends at FY19. Further, the UK regulator’s recent stress tests commentary suggest limited risk for life companies....
...The move fuelled a significant escalation of trade tensions with some of Washington’s closest allies, and prompted retaliatory Canadian duties on C$16.6bn ($12.2bn) worth of US goods....
...at the ‘C-suite’....
...Shot: NMC Health plc (“NMC” or the “Company”) notes the recent media speculation and confirms that it has received highly preliminary approaches from Kohlberg Kravis Roberts & Co. L.P....
...It gets straight to the point: We now assume an L-shaped RevPAR recovery (previously V-shaped), based on Jefdata consumer surveys, corporate guidance and industry forecasts. .....
...We value Sumo based on a PE multiple of c.36x FY20E, a c.10-15% premium to the global peer group average (falling to 27x in FY21E)....
...Here’s Investec (sell) to summarise: [L]ockdowns are impacting consumption in North America (c. 30% of sales), Europe (c. 20% of sales), India (c. 10% of sales), Africa (12% of sales) and many countries...
...Against the general trend, yesterday Ferrari confidently guided to a V-shaped recovery in its P&L from H2/20....
...Based on company commentary so far, we still believe potential COVID-19 claims (including BI) are a manageable P&L event for the sector, although the devil will be in the detail when it comes to BI policy...
...It notes a further 10% fall in property values from end-2019 (40% from end-2017) would require cures of c. £274mn....
...What is the likely shape of the growth trajectory? V, U, or L?...
...The shares currently trade on a 2020E PE multiple of c.17 times and an EV:Sales multiple of c.0.92 times in the context of Group margins of c.7.6%....
...five targets that the companies anticipate collaborating on in the first three years of the partnership....
...The group has c.2.7x ND/EBITDA against a covenant of 4.25x....
...My own feeling is that this will not be a V or even a U-shaped recovery, but a downwardly trending W that has a high risk of turning into a L....
...Company commentary supports our view of limited direct impact to P&C : Hannover Re: noted a potential €200m loss across P&C and L&H; Munich Re: noted a €500m loss should all the events it covers for communicable...
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