Lloyds Banking Share Discussion Threads

[leopold ii] 20/8/2024 13:28

Possibly sub recent low by next Monday. Depends on Fed, how long that takes

[leopold ii] 20/8/2024 13:23

Interesting numbers. A touch of reality returns to market today

[utrickytrees] 20/8/2024 12:05

Tell a lie Scruff, some ladbour woman is in S wales saying they're committed at UK energy to supply new nuclear by 2030...get in!

[utrickytrees] 20/8/2024 11:44

Next zoom meeting will be in October to agree the colours for the letter heads & further meetings pencilled in for 2026 to focus on font type & size.

[jordaggy] 20/8/2024 11:38

Hmmm, Lloyd's being a bellwether, I'm getting nervous.

More companies in England and Wales went bust in the last year than at the height of the financial crisis, the latest insolvency figures show.

There were 25,551 insolvencies in the 12 months from August 2023 to July 2024, new data from the Insolvency Service released this morning shows.

That’s more than in the year from August 2008 to July 2009, when 25,186 insolvencies were recorded (see data here). That period covered the collapse of Lehman Brothers in September 2008, which was followed by the ‘Great Recession’ of 2009.

Rebecca Dacre, partner at Forvis Mazars, the international audit, tax and advisory firm, says:

“The latest insolvency figures are a strong reminder that many businesses are still a long way off from recovery.”
“Despite initial signs of improvement in the economy, some sectors are still experiencing severe difficulty as interest rates remain high. Falling consumer spending during the cost of living crisis has also made it incredibly difficult for some businesses to survive. The retail and hospitality sectors have borne much of the brunt.”

The worst month for insolvencies in the last year was November 2023, when 2,467 were recorded.

But during the financial crisis, company failures peaked in October 2008 at 2,732.

David Hudson, restructuring advisory partner at FRP, says high interest rates, weak demand and rising costs have all pushed up insolvency levels in recent months.

Hudson adds:

We expect insolvency levels to remain elevated for some time yet.
While economic conditions are improving, there are many businesses that have had their resilience ground down since the onset of the pandemic and that are now carrying large amounts of debt, which they’ll struggle to maintain even with falling rates and strengthening consumer confidence

[scruff1] 20/8/2024 11:31

Hows energy uk going Tricky

[scruff1] 20/8/2024 11:22

Oil playing into Reeves grasping hands at the moment. Its at its lowest this year so thats the green light for her to raise the fuel duty (a racing certainty as they hate fossil fuel, hate cars and love 20 minute urban zones and hate crowds on their favourite foreign beaches) and they have to get someone onto the useless overpriced railways somehow. Then when oil rises in price (and Butty Boy ensuring that we have none of our own has to buy it at extortionate prices from i3 by then listed on the TSX) then Reeves percentage fuel duty increase will be even more crippling for the freezing pensioners. Been a long 6 weeks

[nemesis6] 20/8/2024 10:36

what did he say "service service service" hahahahha baloney baloney baloney. AGAIN

[mikemichael2] 20/8/2024 09:45

It's not going to happen, we're screwed, just wait till the October when everything will go up.

[millwallfan] 20/8/2024 09:19

Pity we can’t force another election now - think enough voters (including 95% of all pensioners) would realise where all this is heading 😂- would be shortest term of government to rival the disastrous Truss period 😂

[nemesis6] 20/8/2024 08:43

depressing.....but true