Losers in ‘creditor-on-creditor violence’ left with crumbs
Moody’s analysis of adversarial corporate debt exchanges shows losers recover just 14 cents on the dollar
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Elliott presses Bunzl for buybacks after building stake
Business supplies distributor is latest in string of UK targets for US activist hedge fund
Global stocks rise with ‘risk on’ rally after US-Iran deal
Investor sentiment also helped by SpaceX’s historic initial public offering
Sweden demands other EU states tackle Russian oil tankers in their waters
Also in this newsletter: Kallas fronts up amid EEAS reform talk
The spectacle of SpaceX trumps DCF models
The public focused on the mission, not the multiple