Hints and tips:
...The S&P 500 is often used as the default comparison because of its ubiquity, but, in reality, it’s a poor benchmark for private equity returns given how top-heavy it is....
...Black British Artist Grant, an annual programme giving a leg up to figures within the arts and addressing diversity and visibility across the creative sector. a-cold-wall.com; community.samuel-ross.com B...
...equity firm CVC Capital Partners....
...C Coaching After Wimbledon, the men’s tour will trial allowing coaching during matches....
...The French director Agnès Varda, in her 1988 docudrama on Birkin, Jane B par Agnès V, notes this tendency and asks her subject why she doesn’t look at the camera....
...They illustrate their argument by comparing the paths to success of the richest people in Mexico and the USA (p. 39)....
...I think the extent to which, really, Putin has become the state, it's like maybe - I might be getting the French king wrong, but I think it's Louis XIV who said, l'etat c'est moi - I am the state....
...I mean, the World Bank is saying that we might need over 3bn b tonnes of new metal to achieve the 2-degree C future. But where's all this copper, cobalt going to come from?...
...Hoare, North Yorkshire; Christina McKittrick, Kingston Polymath 1,011: Dr S Bailey, Swindon Crossword 16,099: Suzanne P Wilson, Windermere; D Barter, Cumbria; Jean-Marc Sellier, California Polymath 1,010...
...France L&S and Italy will not pay dividends this year, and XL Bermuda is unlikely to. The slack is only partly taken up by France P&C which is over distributing....
...Alicia Levine, chief strategist at BNY Mellon Investment Management in New York, notes that the five largest tech stocks in the S&P 500 outperformed the rest of the index by 31 per cent in the first five...
...We do not think that management would have referred to “strong cash conversion” and emphasized delivering if the beat in the P&L were not flowing through well to cashflow, so we believe that the commentary...
...DC is currently trading at c.9x CY20E P/E and offers a c.5% dividend yield. It is one of the most sensitive stocks in the sector to the £ sterling, given its low margins and supplier pricing power....
...This is however negligible in the wider context of the P&L and the land bank, with the impact on future gross margin of 17bps small and which will likely be mitigated....
...Apart from negative l-f-l rental and value growth, we assume recapitalizations to an LTV of c.35% by 2021 lowering the EPS and NAV by c.49% and c.61%....
...You probably noticed that Monday’s return to flat year-to-date for the S&P 500 has triggered a lot of huffing about how a Day of Reckoning is approaching. You know the kind of thing....
...more of a primary event), UK P&C (~14% of premium), and then the multilines (~10%)....
...The company has announced an interim dividend of $101m ($0.9531 p/s) and is launching a new $67.3m share buyback today....
...P&C outperformed into the corrections in the past 8 years....
...We also note S&P’s CreditWatch on the BBBrating will be resolved when ‘financial performance and liquidity resulting from COVID-19 can be assessed’....
...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. .....
...Against the general trend, yesterday Ferrari confidently guided to a V-shaped recovery in its P&L from H2/20....
...We value IAG at a P/B 2019 of 0.4x (as for AF-KLM / at a 20% discount to Lufthansa’s P/B multiple in the lows in 2009; IAG was formed in 2011)....
...through the P&L....
...Will Wallis at Numis can give us the detail of the strategy review: We summarise the outcome as a focus on self-help, requiring upfront P&L investment....
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