{"id":11940,"date":"2015-02-22T15:11:27","date_gmt":"2015-02-22T19:11:27","guid":{"rendered":"http:\/\/www.pgm-blog.com\/?p=11940"},"modified":"2015-02-22T15:11:27","modified_gmt":"2015-02-22T19:11:27","slug":"highlights-of-the-week-of-february-16-2015","status":"publish","type":"post","link":"https:\/\/www.pgmcapital.com\/nl\/highlights-of-the-week-of-february-16-2015\/","title":{"rendered":"Highlights of the Week of February 16, 2015"},"content":{"rendered":"<p><a href=\"http:\/\/www.pgm-blog.com\/wp-content\/uploads\/2015\/02\/image-41093-panoV9-wjhf.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-11957\" src=\"http:\/\/www.pgm-blog.com\/wp-content\/uploads\/2015\/02\/image-41093-panoV9-wjhf.jpg\" alt=\"GREECE-WEATHER-ACROPOLIS-FEATURE\" width=\"300\" height=\"227\" \/><\/a><a href=\"http:\/\/www.pgm-blog.com\/wp-content\/uploads\/2015\/02\/Greece-Euro-Crisis.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright wp-image-11958\" src=\"http:\/\/www.pgm-blog.com\/wp-content\/uploads\/2015\/02\/Greece-Euro-Crisis.jpg\" alt=\"\" width=\"200\" height=\"133\" \/><\/a><\/p>\n<p>Dear\u00a0<strong>PGM Capital\u00a0<\/strong>Blog readers,<\/p>\n<p>In this weekend&#8217;s blog edition we want to discuss some of the most important events that happened in the global capital markets, the world economy and the world of money in the week of February 16, 2015:<\/p>\n<ul>\n<li>Nestl\u00e9 Full Year 2014 results.<\/li>\n<li>The Greek debt crisis.<\/li>\n<\/ul>\n<p><span style=\"color: #0000ff;\"><strong>NESTL\u00c9 GLOBAL FULL YEAR 2014 RESULTS:<\/strong><\/span><\/p>\n<p><span style=\"color: #0000ff;\"><strong><span style=\"color: #000000;\">ABOUT NESTL\u00c9:<\/span><br \/>\n<\/strong><\/span><b>Nestl\u00e9 S.A.<\/b>\u00a0(SIX: NESN) is a Swiss multinational food and beverage company headquartered in Vevey, Switzerland. It is the largest food company in the world measured by revenues.<\/p>\n<p><a href=\"http:\/\/www.pgm-blog.com\/wp-content\/uploads\/2014\/08\/Nestle-Logo.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-10556\" src=\"http:\/\/www.pgm-blog.com\/wp-content\/uploads\/2014\/08\/Nestle-Logo.jpg\" alt=\"Nestle-Logo\" width=\"450\" height=\"182\" \/><\/a><\/p>\n<p>The company&#8217;s products include;\u00a0baby food, bottled water, breakfast cereals, coffee and tea, confectionery, dairy products, ice cream, frozen food, pet foods, and snacks.<\/p>\n<p><a href=\"http:\/\/www.pgm-blog.com\/wp-content\/uploads\/2014\/08\/nestleproducts.gif\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-10554\" src=\"http:\/\/www.pgm-blog.com\/wp-content\/uploads\/2014\/08\/nestleproducts.gif\" alt=\"nestleproducts\" width=\"300\" height=\"300\" \/><\/a><\/p>\n<ul>\n<li>Twenty-nine of Nestl\u00e9\u2019s brands have annual sales of over one\u00a0billion Swiss Francs (CHF) (about US$1.1 billion).<\/li>\n<li>Nestl\u00e9 has 447 factories, operates in 194 countries, and employs around 333,000 people.<\/li>\n<\/ul>\n<p><span style=\"color: #0000ff;\"><strong><span style=\"color: #000000;\">FULL YEAR 2014 FINANCIAL REPORT:<\/span><br \/>\n<\/strong><\/span>In 2014 Nestl\u00e9\u2019s organic growth was 4.5%, composed of 2.3% real internal growth and 2.2% pricing. Sales were CHF 91.6 billion, down 0.6%, impacted by negative foreign exchange of -5.5%. Acquisitions, net of divestitures, added 0.4% to sales.<\/p>\n<ul>\n<li>The Group\u2019s trading operating profit was CHF 14.0 billion, representing a margin of 15.3%, up 10 basis points, and up 30 basis points in constant currencies.<\/li>\n<li>The cost of goods sold fell by 30 basis points as a percentage of sales, driven by product mix and pricing actions and savings created by Nestl\u00e9 Continuous Excellence which more than offset increases in raw material costs.<\/li>\n<li>Distribution costs were up by 10 basis points.<\/li>\n<li>Total marketing and administration expenses rose by 10 basis points as they increased consumer facing marketing support for their brands.<\/li>\n<li>Net profit rose CHF 4.4 billion to CHF 14.5 billion. The increase also reflects the profit realised on the disposal of part of the stake in L\u2019Or\u00e9al and the revaluation gain on the 50% of Galderma already held when the Group brought its ownership from 50% to 100%. Reported earnings per share were CHF 4.54, up 44.6%.<\/li>\n<li>Board of directors declared a dividend of CHF 2.20 \u00a0per share payable on April 22, 2015, to shareholders on record on April 22, 2015.<\/li>\n<\/ul>\n<p>In below table Nestl\u00e9\u2019s Full-year 2014, sales and trading operating profit margins are outlined:<\/p>\n<div class=\"tableScroll\">\n<table id=\"Table1\" class=\"tab_press\" summary=\"Sales and trading operating profit margins by management responsibilities and geographic areas\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<th rowspan=\"2\"><\/th>\n<th id=\"c1tbdos\" class=\"table_colored_gray\" rowspan=\"2\"><acronym title=\"January\">Jan.<\/acronym>&#8211;<acronym title=\"December\">Dec.<\/acronym><br \/>\n2014<br \/>\nSales<br \/>\nin\u00a0<acronym title=\"Swiss Francs\">CHF<\/acronym><br \/>\nmillions<\/th>\n<th id=\"c2tbdos\" class=\"table_white\" rowspan=\"2\"><acronym title=\"January\">Jan.<\/acronym>&#8211;<acronym title=\"December\">Dec.<\/acronym>2014<br \/>\nOrganic Growth<br \/>\n(%)<\/th>\n<th id=\"cEbit\" class=\"table_colored_gray\" style=\"text-align: center;\" colspan=\"2\">Trading operating<br \/>\nprofit margins<\/th>\n<\/tr>\n<tr>\n<th id=\"c3tbdos\" class=\"table_colored_gray\"><acronym title=\"January\">Jan.<\/acronym>&#8211;<acronym title=\"December\">Dec.<\/acronym>2014<br \/>\n(%)<\/th>\n<th id=\"c4tbdos\" class=\"table_white\">Change <acronym title=\"Versus\">vs<\/acronym><acronym title=\"January\">Jan.<\/acronym>&#8211;<br \/>\n<acronym title=\"December\">Dec.<\/acronym> 2013<\/th>\n<\/tr>\n<tr>\n<th class=\"tab_press_left\" colspan=\"5\" align=\"left\"><strong>By operating segment<\/strong><\/th>\n<\/tr>\n<tr>\n<th id=\"r3tbdos\" class=\"tab_press_left\" align=\"left\">\u00a0\u00a0&#8211;\u00a0Zone Americas<\/th>\n<td class=\"table_gray\" headers=\"c1tbdos r3tbdos\" valign=\"bottom\">27&#8217;277<\/td>\n<td class=\"table_white\" headers=\"c2tbdos r3tbdos\" valign=\"bottom\">+ 5.0<\/td>\n<td class=\"table_gray\" headers=\"Cebit c3tbdos r3tbdos\" valign=\"bottom\">18.8<\/td>\n<td class=\"table_white\" headers=\"Cebit c4tbdos r3tbdos\" valign=\"bottom\">+ 60<acronym title=\"Basis points\">bps<\/acronym><\/td>\n<\/tr>\n<tr>\n<th id=\"r2tbdos\" class=\"tab_press_left\" align=\"left\">\u00a0\u00a0&#8211;\u00a0Zone Europe<\/th>\n<td class=\"table_gray\" headers=\"c1tbdos r2tbdos\">15&#8217;175<\/td>\n<td class=\"table_white\" headers=\"c2tbdos r2tbdos\">+ 1.5<\/td>\n<td class=\"table_gray\" headers=\"Cebit c3tbdos r2tbdos\">15.3<\/td>\n<td class=\"table_white\" headers=\"Cebit c4tbdos r2tbdos\">+ 30<acronym title=\"Basis points\">bps<\/acronym><\/td>\n<\/tr>\n<tr>\n<th id=\"r4tbdos\" class=\"tab_press_left\" align=\"left\">\u00a0\u00a0&#8211;\u00a0Zone Asia, Oceania, Africa<\/th>\n<td class=\"table_gray\" headers=\"c1tbdos r4tbdos\">18&#8217;272<\/td>\n<td class=\"table_white\" headers=\"c2tbdos r4tbdos\">+ 2.6<\/td>\n<td class=\"table_gray\" headers=\"Cebit c3tbdos r4tbdos\">18.7<\/td>\n<td class=\"table_white\" headers=\"Cebit c4tbdos r4tbdos\">&#8211; 20<acronym title=\"Basis points\">bps<\/acronym><\/td>\n<\/tr>\n<tr>\n<th id=\"r5tbdos\" class=\"tab_press_left\" align=\"left\">Nestl\u00e9 Waters<\/th>\n<td class=\"table_gray\" headers=\"c1tbdos r5tbdos\">7&#8217;390<\/td>\n<td class=\"table_white\" headers=\"c2tbdos r5tbdos\">+ 5.4<\/td>\n<td class=\"table_gray\" headers=\"Cebit c3tbdos r5tbdos\">9.7<\/td>\n<td class=\"table_white\" headers=\"Cebit c4tbdos r5tbdos\">+ 50<acronym title=\"Basis points\">bps<\/acronym><\/td>\n<\/tr>\n<tr>\n<th id=\"r6tbdos\" class=\"tab_press_left\" align=\"left\">Nestl\u00e9 Nutrition<\/th>\n<td class=\"table_gray\" headers=\"c1tbdos r6tbdos\">9&#8217;614<\/td>\n<td class=\"table_white\" headers=\"c2tbdos r6tbdos\">+ 7.7<\/td>\n<td class=\"table_gray\" headers=\"Cebit c3tbdos r6tbdos\">20.8<\/td>\n<td class=\"table_white\" headers=\"Cebit c4tbdos r6tbdos\">+ 80<acronym title=\"Basis points\">bps<\/acronym><\/td>\n<\/tr>\n<tr>\n<th id=\"r7tbdos\" class=\"tab_press_left\" align=\"left\">Other Businesses<\/th>\n<td class=\"table_gray\" headers=\"c1tbdos r7tbdos\">13&#8217;884<\/td>\n<td class=\"table_white\" headers=\"c2tbdos r7tbdos\">+ 7.1<\/td>\n<td class=\"table_gray\" headers=\"Cebit c3tbdos r7tbdos\">19.1<\/td>\n<td class=\"table_white\" headers=\"Cebit c4tbdos r7tbdos\">+ 140<acronym title=\"Basis points\">bps<\/acronym><\/td>\n<\/tr>\n<tr>\n<th id=\"r10tbdos\" class=\"tab_press_left\" align=\"left\"><strong>Total Group<\/strong><\/th>\n<td class=\"table_gray\" headers=\"c1tbdos r10tbdos\"><strong>91&#8217;612<\/strong><\/td>\n<td class=\"table_white\" headers=\"c2tbdos r10tbdos\"><strong>+ 4.5<\/strong><\/td>\n<td class=\"table_gray\" headers=\"Cebit c3tbdos r10tbdos\"><strong>15.3<\/strong><\/td>\n<td class=\"table_white\" headers=\"Cebit c4tbdos r10tbdos\"><strong>+ 10<acronym title=\"Basis points\">bps<\/acronym><\/strong><\/td>\n<\/tr>\n<tr>\n<th class=\"tab_press_left\" colspan=\"5\" align=\"left\"><strong>By product<\/strong><\/th>\n<\/tr>\n<tr>\n<th id=\"r1tbdos\" class=\"tab_press_left\" align=\"left\">Powdered and liquid beverages<\/th>\n<td class=\"table_gray\" headers=\"c1tbdos r1tbdos\">20&#8217;302<\/td>\n<td class=\"table_white\" headers=\"c2tbdos r1tbdos\">+ 5.4<\/td>\n<td class=\"table_gray\" headers=\"Cebit c3tbdos r1tbdos\">23.1<\/td>\n<td class=\"table_white\" headers=\"Cebit c4tbdos r1tbdos\">+ 40<acronym title=\"Basis points\">bps<\/acronym><\/td>\n<\/tr>\n<tr>\n<th id=\"r2tbdos\" class=\"tab_press_left\" align=\"left\">Water<\/th>\n<td class=\"table_gray\" headers=\"c1tbdos r2tbdos\">6&#8217;875<\/td>\n<td class=\"table_white\" headers=\"c2tbdos r2tbdos\">+ 5.3<\/td>\n<td class=\"table_gray\" headers=\"Cebit c3tbdos r2tbdos\">10.3<\/td>\n<td class=\"table_white\" headers=\"Cebit c4tbdos r2tbdos\">+ 30<acronym title=\"Basis points\">bps<\/acronym><\/td>\n<\/tr>\n<tr>\n<th id=\"r3tbdos\" class=\"tab_press_left\" align=\"left\">Milk products and ice cream<\/th>\n<td class=\"table_gray\" headers=\"c1tbdos r3tbdos\">16&#8217;743<\/td>\n<td class=\"table_white\" headers=\"c2tbdos r3tbdos\">+ 3.4<\/td>\n<td class=\"table_gray\" headers=\"Cebit c3tbdos r3tbdos\">16.1<\/td>\n<td class=\"table_white\" headers=\"Cebit c4tbdos r3tbdos\">+ 90<acronym title=\"Basis points\">bps<\/acronym><\/td>\n<\/tr>\n<tr>\n<th id=\"r1tbdos\" class=\"tab_press_left\" align=\"left\">Nutrition and Health Science<\/th>\n<td class=\"table_gray\" headers=\"c1tbdos r1tbdos\">13&#8217;046<\/td>\n<td class=\"table_white\" headers=\"c2tbdos r1tbdos\">+ 8.7<\/td>\n<td class=\"table_gray\" headers=\"Cebit c3tbdos r1tbdos\">20.9<\/td>\n<td class=\"table_white\" headers=\"Cebit c4tbdos r1tbdos\">+ 210<acronym title=\"Basis points\">bps<\/acronym><\/td>\n<\/tr>\n<tr>\n<th id=\"r5tbdos\" class=\"tab_press_left\" align=\"left\">Prepared dishes and cooking aids<\/th>\n<td class=\"table_gray\" headers=\"c1tbdos r5tbdos\">13&#8217;538<\/td>\n<td class=\"table_white\" headers=\"c2tbdos r5tbdos\">&#8211; 0.1<\/td>\n<td class=\"table_gray\" headers=\"Cebit c3tbdos r5tbdos\">13.4<\/td>\n<td class=\"table_white\" headers=\"Cebit c4tbdos r5tbdos\">+ 20<acronym title=\"Basis points\">bps<\/acronym><\/td>\n<\/tr>\n<tr>\n<th id=\"r6tbdos\" class=\"tab_press_left\" align=\"left\">Confectionery<\/th>\n<td class=\"table_gray\" headers=\"c1tbdos r6tbdos\">9&#8217;769<\/td>\n<td class=\"table_white\" headers=\"c2tbdos r6tbdos\">+ 4.2<\/td>\n<td class=\"table_gray\" headers=\"Cebit c3tbdos r6tbdos\">13.8<\/td>\n<td class=\"table_white\" headers=\"Cebit c4tbdos r6tbdos\">&#8211; 210<acronym title=\"Basis points\">bps<\/acronym><\/td>\n<\/tr>\n<tr>\n<th id=\"r7tbdos\" class=\"tab_press_left\" align=\"left\">Petcare<\/th>\n<td class=\"table_gray\" headers=\"c1tbdos r7tbdos\">11&#8217;339<\/td>\n<td class=\"table_white\" headers=\"c2tbdos r7tbdos\">+ 5.6<\/td>\n<td class=\"table_gray\" headers=\"Cebit c3tbdos r7tbdos\">19.8<\/td>\n<td class=\"table_white\" headers=\"Cebit c4tbdos r7tbdos\">+ 60<acronym title=\"Basis points\">bps<\/acronym><\/td>\n<\/tr>\n<tr>\n<th id=\"r10tbdos\" class=\"tab_press_left\" align=\"left\"><strong>Total Group<\/strong><\/th>\n<td class=\"table_gray\" headers=\"c1tbdos r10tbdos\"><strong>91&#8217;612<\/strong><\/td>\n<td class=\"table_white\" headers=\"c2tbdos r10tbdos\"><strong>+ 4.5<\/strong><\/td>\n<td class=\"table_gray\" headers=\"Cebit c3tbdos r10tbdos\"><strong>15.3<\/strong><\/td>\n<td class=\"table_white\" headers=\"Cebit c4tbdos r10tbdos\"><strong>+ 10<acronym title=\"Basis points\">bps<\/acronym><\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p><a title=\"Nestle Global -Full-Year 2014 Results-\" href=\"http:\/\/www.nestle.com\/asset-library\/documents\/library\/events\/2014-full-year-results\/press_release_en.pdf\" target=\"_blank\">Source:<\/a><\/p>\n<p><span style=\"color: #0000ff;\"><strong>THE GREEK DEBT CRISIS:<br \/>\n<\/strong><\/span>The <b>Greek government-debt crisis<\/b>\u00a0was directly caused locally in Greece by a combination of structural weaknesses of the\u00a0Greek economy along with a decade long pre-existence of overly high structural deficits and debt-to-GDP levels on public accounts.<\/p>\n<p>Greece has been living for decades far above its means, and has financed this by borrowing money on the Global Capital Markets.<\/p>\n<p>As a consequence of this Greece Debt-to-GDP ratio has ballooned to 175%.<\/p>\n<p>Below chart shows Greece debt to GDP ratio compared with the other Euro-zone countries since 1977.<\/p>\n<p>Last Friday, February 20, the Euro-zone gave Greece a four-month extension to negotiate new bailout terms. Greece was hoping for six months but settled for four. The deal temporarily stemmed a run on the country&#8217;s banks and calmed financial markets.<\/p>\n<p><a href=\"http:\/\/www.pgm-blog.com\/wp-content\/uploads\/2015\/02\/Greek_debt_and_EU_average_since_1977.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-11949 size-full\" src=\"http:\/\/www.pgm-blog.com\/wp-content\/uploads\/2015\/02\/Greek_debt_and_EU_average_since_1977.png\" alt=\"\" width=\"450\" height=\"474\" \/><\/a><\/p>\n<p>Under the agreement, Greece has to present a list of budget cuts and economic overhauls on Monday, February 23 that need to satisfy European officials. Once those measures have been implemented, Athens will receive more money to keep it afloat.<\/p>\n<p><span style=\"color: #0000ff;\"><strong>PGM CAPITAL COMMENTS:<\/strong><\/span><\/p>\n<p><strong>Nestl\u00e9:<\/strong><br \/>\nBelow chart shows the 17-year chart of Nestl\u00e9, in which we can see that the company&#8217;s stock has appreciated form US$ 10.85 a share in November 1996 to US$ 76.62 a share last Friday, February 20, 2015, which is an increase of approx. 606 percent in 17 years.<\/p>\n<p><a href=\"http:\/\/www.pgm-blog.com\/wp-content\/uploads\/2015\/02\/Nestle-Chart.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-11954\" src=\"http:\/\/www.pgm-blog.com\/wp-content\/uploads\/2015\/02\/Nestle-Chart.png\" alt=\"Nestle Chart\" width=\"500\" height=\"260\" \/><\/a><\/p>\n<p>Based on the CHF 2.20 a share dividend declared by the board of directors last Thursday February 19th, the company&#8217;s shares have a yield of 3.06%.<\/p>\n<p>Based on the above, the company&#8217;s fundamentals and balance sheet we have a <span style=\"color: #008000;\"><strong>BUY<\/strong><\/span> rating on the shares of the\u00a0Nestl\u00e9.<\/p>\n<p><strong>The Greek Tragedy:<br \/>\n<\/strong>Greece has lived for over 40 years far above its means and is hopelessly insolvent and can never compete economically as long as it is tethered to the single European currency (the Euro).<\/p>\n<p>The Greek Economy within the Euro can never compete with the northern Euro-zone countries like Germany and Holland, which means that Greece can never flourish economically within the European Union and the four month life-line it received this week won&#8217;t change that.<\/p>\n<p>Due to this it will be for the Germans and in some extent the Dutch to decide if they want to keep Greece and other weak southern European countries such as Spain, Portugal and Italy inside the Euro-zone to keep buying Germans &amp; Dutch exports with Euros.<\/p>\n<p>Due to this we believe that four months extension will go into history as a farce and that four months from now, this farce will be repeated and another deal will be cut. In the meantime, Greece will remain in what amounts to a depression and an entire generation of its young people will seek opportunities abroad.<\/p>\n<p>In the meantime the BBC has reported that the wealthy Greek population is accumulating Gold as a protection against the chance of Greece leaving the Euro-zone and return to the Drachma, which will depreciate immediately against the Euro and other major world currencies.<\/p>\n<p><iframe loading=\"lazy\" src=\"http:\/\/www.bbc.co.uk\/programmes\/p02jtj58\/player\" width=\"400\" height=\"500\" frameborder=\"0\"><\/iframe><\/p>\n<p>Before following any investing advice, always take your investment horizon and risk tolerance into consideration and keep in mind that the price of Commodities, Precious metals as well as the stocks of their producers can be very\u00a0volatile and that sharp corrections may happen in the short term.<\/p>\n<p>Until next week.<\/p>\n<p>Yours sincerely,<\/p>\n<p><a href=\"http:\/\/www.pgm-blog.com\/wp-content\/uploads\/2014\/05\/Suriname-Times-foto.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-9925 \" src=\"http:\/\/www.pgm-blog.com\/wp-content\/uploads\/2014\/05\/Suriname-Times-foto-150x150.jpg\" alt=\"Suriname Times foto\" width=\"96\" height=\"96\" \/><\/a><\/p>\n<p>Eric Panneflek<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dear\u00a0PGM Capital\u00a0Blog readers, In this weekend&#8217;s blog edition we want to discuss some of the most important events that happened in the global capital markets, the world economy and the world of money in the week of February 16, 2015: Nestl\u00e9 Full Year 2014 results. The Greek debt crisis. NESTL\u00c9 GLOBAL FULL YEAR 2014 RESULTS:<a href=\"https:\/\/www.pgmcapital.com\/nl\/highlights-of-the-week-of-february-16-2015\/\">[&#8230;]<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,8,10,11,19,20,12,13,15,16,22,1,18],"tags":[],"class_list":["post-11940","post","type-post","status-publish","format-standard","hentry","category-commodities","category-debt-crisis","category-eric-panneflek","category-euro","category-financial-news","category-general-information","category-inflation","category-market-volatility","category-pgm-capital","category-precious-metal","category-the-week-in-review","category-uncategorized","category-world-economic-outlook"],"_links":{"self":[{"href":"https:\/\/www.pgmcapital.com\/nl\/wp-json\/wp\/v2\/posts\/11940","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pgmcapital.com\/nl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pgmcapital.com\/nl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pgmcapital.com\/nl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pgmcapital.com\/nl\/wp-json\/wp\/v2\/comments?post=11940"}],"version-history":[{"count":0,"href":"https:\/\/www.pgmcapital.com\/nl\/wp-json\/wp\/v2\/posts\/11940\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.pgmcapital.com\/nl\/wp-json\/wp\/v2\/media?parent=11940"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pgmcapital.com\/nl\/wp-json\/wp\/v2\/categories?post=11940"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pgmcapital.com\/nl\/wp-json\/wp\/v2\/tags?post=11940"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}