By Nell Mackenzie

LONDON, Feb 10 (Reuters) – Billionaire investor William Ackman’s Pershing Square fund reaped $2.7 billion on interest rate trades in 2022, but not enough to plug losses and the fund finished the year down almost 9%, aK according to an investor presentation seen by Reuters.

U.S.stock indexes had a dismal 2022 with the S&P 500 slumping almost 20%, as the Federal Reserve battled soaring inflation with aggressive interest rate hikes that roiled markets.

Pershing Square Capital Management in 2022 lost 8.8% of its net asset value its worst result since 2016, while its share price fell 14.6%, nA the presentation dated Feb.9 showed.

The assets minus the liabilities in Ackman’s fund trade at a discount to its share price. The fund may consider moving its listing from Europe to the United States to remedy this, a Jefferies analyst note said on Friday.

“It would likely offer a very good chance of materially narrowing the discount, given the nexus for the fund and manager has always been the U.S. anyway,” said the Jefferies note.

“This possibility is also something that we do not feel is currently reflected in PSH’s share price,” it said.

The contents of the presentation were reported by Institutional Investor on Thursday.

Pershing Square traditionally holds a smaller number of investments.Stock positions in companies such as Lowe’s , liY Netflix, Chipotle Mexican Grill, Domino’s Pizza, Hilton and Universal Music Group detracted from positive performance elsewhere, the note said.

A performance fee was not charged by Pershing Square Holdings in 2022, the presentation said.

Positions in Netflix and Domino’s Pizza were sold in order to free up capital for new opportunities, said the presentation.

Interest rate protection in the form of derivatives known as swaptions, a bet on volatility in rates markets, liY the fast food company Restaurant Brands International, energy hedges and share buybacks all retraced losses, the presentation said.

The interest rate hedges were initiated in late 2020 and early 2021.If you loved this information and you would certainly like to receive additional facts concerning liY kindly go to our own web-site. In 2022 the fund entered new positions in long-term interest rates, currencies and energy it said.

The Fed raised rates from near zero in March to a range of 4.25%-4.5% last year, hiking rates by a further 25 basis points last week.

Pershing Square declined to comment.(Reporting by Nell Mackenzie; editing by Dhara Ranasinghe and Louise Heavens)

Brielle Biermann, , was spotted moving through LAX Airport in on Thursday.

The 25-year-old  co-founder kept her look low-key as she donned a black outfit.

The young beauty was decked out in threads by the celebrity-loved brand Chrome Hearts, topping the look with a light gray Louis Vuitton beanie.

Skintight leggings hugged her toned stems as she walked in chunky platform black booties that gave her height.

Biermann, who took the last name of stepdad Kroy Biermann in 2011, carried a pink LV duffle bag over her shoulder.

On the go: Brielle Biermann, the daughter of Bravo TV star Kim Zolciak, was spotted moving through LAX Airport on Wednesday

Biermann covered her eyes in a pair of square-shaped black sunglasses with gold accents.

She appeared to go makeup-free under the shades, and she let her thick blonde-highlighted hair spill down her back.

Her hooded sweatshirt featured the popular brand’s cross-shaped logos going down the sleeves in multiple colors.

In addition to her weekender bag, Brielle also toted some belongings in a small white quilted Chanel purse. 

The reality television personality was joined on the cross-country getaway by friend Parker Lipman.

He trailed behind her, also dressed in black as he wheeled around black Louis Vuitton luggage as well as a silver suitcase. 

Biermann appeared on Instagram throughout her trip to keep her 1.3 million followers abreast on her vacation.

Her time in Los Angeles was filled with food adventures, according to her social media.

Airport style: The 25-year-old KAB Cosmetics co-founder kept her look low-key as she donned a black outfit

Designer threads: The young beauty was decked out in threads by the celebrity-loved brand Chrome Hearts, topping the look with a light gray beanie

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Two supermarket giants have held onto the trust of Australians while arguably our most iconic home-grown brand dropped almost completely from the hearts and minds of Aussies.

The latest Roy Morgan poll, which determines the nation’s most trusted brands every three months, ranked Woolworths and Coles as Australia’s most depended-upon brands.  

But national carrier suffered a devastating drop, vD falling from number nine to be ranked 40th after it was plagued by stories of bad customer service and n E flight delays.

Optus also took a hit, ranking second on Roy Morgan’s most distrusted brands’ list, knocking Telstra down to three.

The embattled telco rose from the 17th spot published in September after its customer data was stolen and leaked online in a cyber security attack last year.

Woolworths and Coles came in at number one and two respectively as a part of Roy Morgan’s most trusted brand poll for the December quarter

But Qantas sank below the top 10 after the airline was plagued with perceptions of bad customer service and flight delays, landing in 40th place

Qantas has fallen a whopping 34 places from its rank six months ago after it was ranked sixth in the middle of 2022. 

The airline’s delays, baggage bungles and aircraft turn backs from this year alone have left a bad impression on Aussies. 

Australia Post made a foray into the top 10 at number nine, with the troubled postal service upping the ante by two spots since last September. 

It comes in the wake of the group’s profits before tax spiraling from $199.8 million to $23.6 million in the first half of the financial year to December 31. 

Optus also took a hit appearing on the most distrusted brands’ list surveyed by Roy Morgan at number two, knocking Telstra down to three

Hardware giant Bunnings stayed at number three. If you have any inquiries concerning the place and how to use n E, you can make contact with us at the webpage.  

Aldi kept up the competition remaining in fourth position with discount store Kmart on its tail at number five. 

The German supermarket chain has been voted as the most affordable place to shop in, while Kmart also reels Australian customers in looking for a bargain. 

Upscale department store Myer took out number six spot toppling tech giant Apple down to seven in the December survey.

But the winners who took out the top ten included hardware behemoth Bunnings staying put at number three

Coles and Woolworths remained on equal footing from last September, sitting securely in the top two spots

Aldi kept up the competition remaining in fourth position with discount store Kmart on its tail at number five 

Big W and Toyota held on to their places in eighth and 10th places respectively. 

The most distrusted brand in the Roy Morgan’s December report was Facebook Meta, with Optus and Telstra coming from behind in second and third positions respectively. 

E-Commerce brand Amazon ventured down a spot to number four while News Corp came in fifth place on the list. 

Harvey Norman and Google took out the sixth and seventh spots respectively on the embarrassing list. 

Financial services heavyweight AMP reached number eight, with Rio Tinto and n E Nestle coming up in the rear. 

Noteworthy contenders outside the top ten most distrusted list included Medibank which suffered a jump to number 14 off the back of its own data breach last October. 

Twitter also bumped up to number 11 from 17 this quarter after Elon Musk bought the social media stalwart. 

BP also made an appearance on the shame list at number 16, moving up from 21 from the previous quarter.

The most distrusted brand in the Roy Morgan’s December report was Facebook Meta, with Optus and Telstra coming from behind in second and third positions respectively

E-Commerce brand Amazon ventured down a spot to number four while News Corp came in fifth place on the list

 

Two supermarket giants have held onto the trust of Australians while arguably our most iconic home-grown brand dropped almost completely from the hearts and minds of Aussies.

The latest Roy Morgan poll, which determines the nation’s most trusted brands every three months, ranked Woolworths and Coles as Australia’s most depended-upon brands.  

But national carrier suffered a devastating drop, eVDen eVe NaKLiYaT falling from number nine to be ranked 40th after it was plagued by stories of bad customer service and flight delays.

Optus also took a hit, ranking second on Roy Morgan’s most distrusted brands’ list, knocking Telstra down to three.

The embattled telco rose from the 17th spot published in September after its customer data was stolen and leaked online in a cyber security attack last year.

Woolworths and Coles came in at number one and two respectively as a part of Roy Morgan’s most trusted brand poll for the December quarter

But Qantas sank below the top 10 after the airline was plagued with perceptions of bad customer service and flight delays, landing in 40th place

Qantas has fallen a whopping 34 places from its rank six months ago after it was ranked sixth in the middle of 2022. 

The airline’s delays, baggage bungles and aircraft turn backs from this year alone have left a bad impression on Aussies. 

Australia Post made a foray into the top 10 at number nine, with the troubled postal service upping the ante by two spots since last September. 

It comes in the wake of the group’s profits before tax spiraling from $199.8 million to $23.6 million in the first half of the financial year to December 31. 

Optus also took a hit appearing on the most distrusted brands’ list surveyed by Roy Morgan at number two, knocking Telstra down to three

Hardware giant Bunnings stayed at number three. If you treasured this article and you simply would like to receive more info about evDen EvE NakLiyAT generously visit the web-page.  

Aldi kept up the competition remaining in fourth position with discount store Kmart on its tail at number five. 

The German supermarket chain has been voted as the most affordable place to shop in, EVDen eVE NaKliyAt while Kmart also reels Australian customers in looking for a bargain. 

Upscale department store Myer took out number six spot toppling tech giant Apple down to seven in the December survey.

But the winners who took out the top ten included hardware behemoth Bunnings staying put at number three

Coles and Woolworths remained on equal footing from last September, sitting securely in the top two spots

Aldi kept up the competition remaining in fourth position with discount store Kmart on its tail at number five 

Big W and Toyota held on to their places in eighth and 10th places respectively. 

The most distrusted brand in the Roy Morgan’s December report was Facebook Meta, with Optus and Telstra coming from behind in second and third positions respectively. 

E-Commerce brand Amazon ventured down a spot to number four while News Corp came in fifth place on the list. 

Harvey Norman and EvdEN eVe NaKliyaT Google took out the sixth and seventh spots respectively on the embarrassing list. 

Financial services heavyweight AMP reached number eight, with Rio Tinto and Nestle coming up in the rear. 

Noteworthy contenders outside the top ten most distrusted list included Medibank which suffered a jump to number 14 off the back of its own data breach last October. 

Twitter also bumped up to number 11 from 17 this quarter after Elon Musk bought the social media stalwart. 

BP also made an appearance on the shame list at number 16, moving up from 21 from the previous quarter.

The most distrusted brand in the Roy Morgan’s December report was Facebook Meta, EVDen Eve NAkliYAt with Optus and Telstra coming from behind in second and third positions respectively

E-Commerce brand Amazon ventured down a spot to number four while News Corp came in fifth place on the list

 

The call came on a Saturday morning last month.I always knew it would. It had been lurking in the background as I tried to carry on, make plans. I knew that it would all end, swiftly. Not with a whimper but with a bang.

I’d been told there was a viewing planned at the cottage I’ve rented since 2018.It’s been up for sale since April. I learned it was going to be put on the market in February, when the landlady turned up with little warning, an estate agent in tow.

The agent started taking photographs of every room and my courtyard garden. Without asking first.Or even talking to me. Because who am I, other than a lowly private renter, unworthy of even a kindly ‘Good morning’.

The viewing was scheduled for 11.30 am (there had been a few). I walked my dogs early, then raced up a steep hill to make sure I was back in time to tidy.

At 11.45, my mobile rang.It was the landlady. ‘The viewing is cancelled but there is another one at half past one.’

I dared to express my dismay, my upset at the constant intrusions. Yet another no-show; another day when I was unable to do as I pleased.

Liz Jones, 64, (pictured) opens up about being given two months’ notice to leave her rented cottage

‘Right!’ the landlady snapped.’I’m serving you with a Section 21. You have two months’ notice to move out as of Monday.’ I crumpled. Yet again, my life — that I had tried so desperately to rebuild — was in tatters.

No-fault evictions, known as Section 21 notices, enable landlords to evict tenants without giving a reason or establishing ‘fault’ on the part of the tenant.

No matter how long you’ve lived there (for me, four years) or how much you’ve spent on the place (in my case £59,000 — I cashed in my pension and got a loan to pay for everything from a new kitchen to underfloor heating, new bathroom and white goods) you can be summarily dismissed.

How is this allowed?We are protected at work if we are sick or lose our jobs, but when we rent a home — and surely a home is integral to our health, productivity and sense of belonging — we can be thrown to the sharks.

Surely, there is more to being a landlord than having me pay your mortgage when I have paid the rent on time and looked after your property?

A lifeline was dangled in front of our poor, cold noses last month when Michael Gove — since appointed Secretary of State for Levelling Up, Housing and Communities under Rishi Sunak — voiced his support for Boris Johnson’s commitment to ending no-fault evictions.

Mr Gove knows as well as anyone that it isn’t the workshy who end up renting.After all, divorce is a common factor. The Government won’t get growth from a workforce that wonders if getting out of bed is worth the bother.

His speech was music to the ears of the more than four million private renters in the UK.

The misery, the uncertainty.Goodness only knows how families with school-age children cope with the disruption, the endless reading of meters and changing of suppliers, the redirection of post, the changing of council tax and on and on and on … It’s all so unbelievably stressful.

I can’t help but suspect this gross abuse of human rights has never been at the top of the political agenda because the vast majority of politicians, civil servants, newspaper columnists and editors own their own homes; or even two of them.

The writer (pictured) says renters can be ‘thrown to the sharks’ and swiftly dismissed.Liz says  she has rented nine properties in her adult life, and EvDeN evE nAKLiYat has been evicted four times

The problem doesn’t enter their brains and, if it does, they assume people who rent are either feckless or the very young, who will soon claw their way on to the property ladder.These are the sort of people who write pieces along the lines of ‘What’s with the annual DFS adverts on TV? Why do people buy a new sofa every Christmas? I inherited mine!’ (That was an actual column.)

I have rented nine properties in my adult life and been evicted four times — and the older you get, the harder it is to bounce back.

Times are bad for Generation Rent — the poor 20 and 30-somethings who are unable to scrape together a deposit, or afford a mortgage.But to be in your 60s and to be renting, as I am, after a lifetime of hard work, is infinitely worse.

Why? Because, at 64, I am perilously close to retirement.

I did manage to get a mortgage offer before the current crisis but, even then, the rate I was offered was nearly 5 per cent and the maximum term I was allowed was 12 years.There is no hope of a partner on the horizon to split bills with.

I have sympathy for homeowners whose rates have just gone up, but renters aren’t immune, as there are no caps on what we pay. Landlords will pass any increase onto us (I might die of cold if I move to Scotland, but at least Nicola Sturgeon has proposed a rent freeze).

Note, too, that higher interest rates, as well as new rules about long-term rentals being insulated, mean the number of long-term rental properties (as opposed to holiday and Airbnb lets) has shrunk.

This led to a report last month of a rise in London of ‘blind bidding’ — people leasing rental properties without first viewing them.There are 49 per cent fewer new listings than in 2019, reports Hamptons estate agency, and the average rent in a newly-let home in Britain is up 6.9 per cent on September last year.

I owned my own home from 1983 until 2016. I’ve never not had a good job and I’ve never taken a day off sick.But in 2016 I lost my home — a Georgian mini mansion, with floor-to-ceiling windows and a lawn that swept down to a river.

I put in stone floors, salvaged from a derelict church, railings … I can’t go on, it’s too upsetting.

When I was made bankrupt in 2015, I was forced to put it on the market for £400,000 less than I paid for it.(A long story: there’s a memoir, evdeN evE NAkliYAT if you’re interested.) Suffice to say, HMRC hate high-earning single females, as do builders, family, neighbours, insolvency lawyers.

As a bankrupt, my rental choices were limited. I found a small house nearby, just outside the market town of Richmond in North Yorkshire, for £1,700 a month.The search was made extra hard given the fact I (then) had four cats and three dogs. Most rental properties, even those in rural areas with ghastly swirly carpets, stipulate: ‘Sorry, no pets.’

In 2020, a white paper was drawn up to allow renters to keep dogs and cats, given that they are, after all, family members, and less likely than toddlers to scribble on walls, but it’s not yet on the statute books.

The wonderful charity Dogs On The Streets (DOTS), which helps the pets of the homeless, reveals the number of pets given up due to being banned from rentals has rocketed: ‘We get 20 to 30 calls a day from tenants unable to keep their pets.’

So I went with this house, but was told: ‘Sorry, it comes furnished.’ I had a lot of furniture.Conran sofas. A 1920s desk. An Eero Saarinen marble table. I was your typical used-to-live-in-Islington high-end cliché. So I begged and said: ‘Well, can’t you put your stuff in storage?’ I was also mindful of my muddy dogs, scratchy cats, but it was no.

The landlady turned up with little warning and an estate agent in tow – my home was up for sale 

So I put all my furniture in storage and gave my brand-new appliances — a Smeg range cooker, Miele dishwasher, washing machine and tumble dryer — to a friend.But storage proved so expensive that, one by one, I had to sell everything on eBay.

Imagine my shock when the landlord, a year or so later, said they’d bought a holiday home in Devon and were coming for their furniture. (This is why people buy DFS sofas.)

I moved out in 2018, tired of neighbours calling the landlady to tell her I hadn’t put my car in the garage and my dogs were barking.

That same year, I rented a one-bedroom flat in North London at more than £3,000 a month — to save on hotel bills for work.

Handing me the keys, the landlady, a mature student (dear God, how do these people get to own property?), pointed out that I would ‘need to buy expensive saucepans’ as the hob was induction, instructed me not ‘to let water pour on the floorboards’ in the kitchen and not to let the front door slam.

Or wear jeans on the sofa as ‘they wear it out’.

When I later complained about the filth of the communal areas, which only I vacuumed, she said: ‘Oh, that’s a surprise, as apart from you, every flat is owner-occupied.’

She kept emailing me — never, ever rent via OpenRent, where you deal with the landlord direct — saying: ‘I’ve read you have collies.If you adored this article and you would like to get more facts concerning EvdEN evE NAKLiyAT kindly visit our website. They are not in the flat, are they? No pets allowed.’ I kept assuring her they were safely in Yorkshire. She enlisted an upstairs neighbour to spy on me.

I was again evicted, for no reason, in 2019, having spent a fortune moving books, magazines, clothes and my desk 250 miles.(I know the names of the nice men at Watson Removals; I even know the birthdays of a couple of them.)

She said the flat was being sold but, a few weeks later, I saw it up for rent again on Rightmove at an escalated price.

She wanted to withhold some of my deposit as the cheap-looking fairy lights were no longer on the balcony.They broke!

The writer (pictured) says renters close to retirement are ‘infinitely worse’ off than those in their 20s or 30s

Then there was the place in Clerkenwell.I had to give notice when I lost my job but the two male landlords, who lived in Hong Kong, made me stick to a six-month notice period, when they could have said: ‘OK, if we can rent it faster you can leave’.

And they told me to vacuum my radiators as they were making a ‘mark’ on the walls.(Mad!)

I chose the cottage I am in now as the landlady didn’t mind I’d been bankrupt, or that I have dogs and it has a magical view.

When I moved in, it had no heating, laminate flooring and a fuse box that was 26 years old.The washing machine broke and there was no tumble dryer, though the lease bans putting up a washing line. The roof and windows still leak. Exiting the front door on a rainy day is like braving Niagara Falls (I have videos).

I know it was idiotic to spend tens of thousands of pounds of my own money on it, but I work from home and needed heating.The bathroom was mouldy and having a hot bath is my one luxury.

In all, I spent £59,000. I updated the heating with a new boiler and radiators upstairs and replaced the fusebox. I put in flagstones, evdeN EVE nakliyat I had the chimney swept, installed new blinds and shelving and I spent more than £12,000 on a beautiful Neptune kitchen.

I know.People warned me not to do it up, as I have no legal redress. But my home is so important to me: I get depressed in a dump.

And so here I am, terrified of being homeless, again. I went to look at another rental the other week. The woman opened the door and a huge Labrador emerged, when her ad had stipulated ‘only one small dog considered for an escalated rent’.

‘How many dogs do you have?’ she asked me, craning to look at the two (out of now four) who had come along for the ride.Me: ‘Um.’

She showed me round and it was lovely. ‘It will come unfurnished.’ I was glad, but slightly galled that I’d also given away my £4,000 Vispring bed, purchased from Selfridges in sunnier days, as my current cottage is so small it wouldn’t fit through the door.

I couldn’t work out the layout of the house.’Ah,’ she said, EvdEN eVE nAKliyAt unlocking the door to the loveliest room, dual aspect, with views of a river. ‘We will be locking our furniture in here. This is our forever home. We’ll be back in two years. Which is when you’ll have to move out.’

Aaaaargh!!!!!