Private equity defaults & US energy and the election. Moderate minorities and Oasis and the hegemonic guitar rock coalition.
Private equity defaults & US energy and the election. Moderate minorities and Oasis and the hegemonic guitar rock coalition.
Great links, images and reading from Chartbook Newsletter by Adam Tooze
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Pauline Boty (British, 1938-1966). “With Love to Jean-Paul Belmondo,” 1962. Source: Gazelli Art House
Private equity defaults
Private-equity backed companies in the US are defaulting at double the rate of non-PE owned firms, according to a Moody’s Ratings report. More than 14% of the companies in the portfolios of the 12 largest PE firms defaulted between January 2022 and August 2024, compared to 7% for the non-PEs. Platinum Equity recorded 10 defaults out of 26 deals reviewed by Moody’s. Private equity-backed companies tend to have more debt and lower credit ratings than their peers, contributing to the higher default rate, Moody’s said. Higher interest rates has also weighed on corporate balance sheets, especially among borrowers with floating-rate debt, which many financial sponsors prefer for flexibility.
Jill R Shah in Bloomberg
Green energy subsidy will probably survive under Trump. And fossil fuels are bound to do well under Harris. How far apart are the American parties really on climate policy?
And in any case, look at the trends and you see that neither green energy investment nor fossil fuel development are reducible to shifting political climate. There are major technological trends at work here.
Source: The Economist
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Pauline Boty (British, 1938-1966). “Untitled (Architectural details, Edwardian Woman and Danish Blue),” circa 1960/1961. Source: Gazelli Art House
"Pop Art's only female icon: Radical artist and Sixties It girl Pauline Boty was set for the big time and appeared alongside Michael Caine in Alfie but died from cancer aged just 28 in 1966 - as her legacy is celebrated in new exhibition.” Source: Gazelli Art House
Moderate minorities
These shifts are particularly notable in election campaigns in both countries. In the US, Kamala Harris’s tough stance on immigration at the southern border is not a betrayal of the Democrats’ diverse base; it brings her closer to the typical non-white American’s policy preferences.
White progressive Americans now hold views on these culture questions that are completely out of line with the average Black or Hispanic voter, according to analysis from pollster Echelon Insights.
Source: John Burn-Murdoch in The Financial Times
Will American women find themselves traveling South to Mexico for abortions?
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Jeremy Gilbert on Politics Theory Other with Alex Doherty on the Oasis reunion tour is kinda hilarious.
From the ridiculous to the sublime … “Wie ein Hauch” (Schönberg) - Like a soft breath. Source: @Lirographe.
Schönberg’s score here. Listen below.
Pauline Boty (British, 1938-1966). “Untitled (with Lace and Hair Colour Advert),” circa 1960/1961. Source: Gazelli Art House
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