Hints and tips:
...L’Oreal’s been downgraded at Credit Suisse. Stock priced for a V-shaped recovery that’s looking increasingly unlikely, they say: Downgrade to Underperform (from Neutral)....
...Credit uncertainty remains the greatest risk for UK life insurers, including L&G, with COVID and Brexit both likely to exacerbate credit concerns....
...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....
...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...
...Rate relief drops away in FY22 so the recovery profile, in EPS at least, is not V-shaped....
...Increased focus on the home, reversing some L-T adverse trends....
...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. .....
...V, U, or L? The nature of Covid-19 growth impact means that some elements – e.g., production resumption, inventory restocking, and travel normalisation – would lend a natural rebound to growth....
...HSBC has some discussion about V and W shaped recoveries; its own model resembling “the Nike swoosh” is made by combining a proper V in mainland China forms and more of an L among Western European and American...
...Credit tends to lead equity at major market turns....
...And Credit Suisse: Although Next a best in class operator, adverse channel mix, its reliance on credit income and need to restructure the store estate do not guarantee a strong recovery....
...The V-shaped recovery in consumer spending feels too bullish in our view....
...(v) Restructuring continues. Of course it does. But what about that Tesla, eh?...
...The group has c.2.7x ND/EBITDA against a covenant of 4.25x....
...year in Mexico Home Credit....
...Peter Grauer, Mr Bloomberg’s successor as chairman of Bloomberg L.P, earlier this month embarrassed the Labour party by signing a letter in support of the Conservatives only a day after Ed Miliband launched...
...Chanel embodied her own style, epitomising chic in the way she wore her designs and in the double intertwined “C” that became her logo....
...Now here he is on a blast from the past… It’s Allied Bank International v Banco Credito Agricola de Cartago et al....
...With the almost certain return of growth in the previous quarter, it is not an “L” but not yet robust enough to be a “V”....
...Vancouver’s own blue-chip credit rating was threatened last year after it was forced to borrow up to C$458m to complete the athletes’ village....
...With the almost certain return of growth in the previous quarter, it is not an “L” but not yet robust enough to be a “V”. The likelihood of a “W” also seems far-fetched....
...Securities Inc., with insider trading in credit default swaps of VNU N.V., an international holding company that owns Nielsen Media and other media businesses....
...I think it is more plausible to assume a 4-5 per cent of GDP loss of output via trend growth being on average c.1 per cent pa lower for 4-5 years due to the credit crunch....
...(c) to establish a National Economic Council, composed of representatives of the Parties and of the following sectors: (i) Manufacturing (ii) Agriculture (iii) Mining (iv) Tourism (v) Commerce (vi)...
...V....
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