o Revenue down 12% underlying o Cash operating income² down 13% underlying; 11% margin o Adjusted³ operating profit down 19% underlying; 9% margin o Adjusted profit before tax down 20% underlying o Adjusted EPS up 12% · Interim dividend increased +1% to 7.6p · Statutory · Active portfolio management strategy delivering value creation: o Increased investment in Cazoo in October 2020; proposed transaction values stake at c.US$1.35bn
5 vs £117m total investment o Disposal of EdTech (Hobsons) for c.US$410m in March 2021 o Acquisition of New Scientist for £67m in March 2021 · Strong financial position maintained: pro forma net cash £293m
6 and £362m of committed undrawn bank facilities; statutory net cash £199m
ASIC - LIBOR Transition In The Asia Pacific Region: Time Is Running Out Date
27/05/2021
Nathan Bourne, ASIC’s Senior Executive Leader, Markets Infrastructure, recently spoke about the London Inter-Bank Offered Rate (LIBOR) transition at a webinar hosted by Bloomberg Professional Services and the International Capital Market Association (ICMA) to launch their Guide to Tough Legacy Bonds in Asia Pacific.
The webinar examined the current state of play in relation to so-called ‘tough legacy’ issues in bond markets in the Asia Pacific region.
ASIC considers LIBOR transition to be a significant priority. To ensure a smooth changeover after 31 December 2021, it’s vital that firms and regulators alike continue to prioritise this important work.
Huw Jones
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A street sign is seen in front of the New York Stock Exchange on Wall Street in New York, February 10, 2009. REUTERS/Eric Thayer
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A hasty shift in euro-denominated derivatives clearing from London to Frankfurt to meet European Union post-Brexit demands may drive business to New York and shackle the 27-member bloc s capital market, banks warn.
The future of where euro derivatives are cleared for customers in the bloc became a focal point in the Brexit debate, with EU politicians keen to wrest control of the 100 trillion euro ($122 trillion) market away from the City of London after Britain quit the EU.
Analysis-New York could profit from Brexit tussle over euro derivatives reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.