Britain a Financial Basket Case Update:
Interest rates LIVE: Reeves handed horror growth forecast as UK to flirt with recession
The Bank of England has announced its much-anticipated interest rate decision, providing some relief to mortgage holders.
The UK National Debt is... |
I'll be selling at 65p ! |
More envy in the world of education as state schools learn that newly VAT registered fee paying schools can reclaim VAT on goods and services, whilst state schools absorb it in their budget! "NOT FAIR" lol! There will be a judicial review and a challenge will be heard in the High Court in April, arguing that the policy incompatible with the European Convention on Human Rights! |
James Robinson7 hrs agoAnd we wonder why they are closing their High Streeet branches adding to the decimation. Hardly joined up thinking.reply 8 1reportComment by Hercule Smith.HSHercule Smith9 hrs agoLloyds are entitled to be miffed by this given that the bank was strong-armed by Gordon Brown to rescue an effectively insolvent HBOS in 2008, and the Irish mess was part of that legacy, all the more so given the massive damage caused to the Lloyds balance sheet. Sir Victor Blank - surely the most disastrous Lloyds Chairman of all time.reply1 reply 13 0reportReply by John Smith.JSJohn Smith1 hr agoReply to Hercule SmithBlank brain....Daily Telegraph |
Mike CruxWhen Gordon Brown forced LloydsTSB to merge with HBOS it soon became clear that HBOS was effectively bankrupt. Billions were written off and staff numbers cut. Ireland was possibly the worst aspect and billions of loans written off. Closing HBOS in Ireland was a complete no brainer. HMRC suggestion that billions in losses wasn't a reason to close HBOS Irish operation is plain daft....Daily Telegraph |
Unlike most companies putting money onto the bottom line is just the start of the process achieving profitability. Lloyds hole in the bottom of the bucket is literally the bottom of the bucket and most of the sides aswell. If you also factor in fines & compensation costs the hole in the bottom of the bucket is actualky bigger than the circumference of the top of the bucket. Lloyds don't really have a bucket its more of a muck spreader which they are ordered to redistribute operating profits to everyone but share holders cos of sharp practice. |
All 3 parties on about 25% or about that level.
25% vote share has always meant in UK politics the the electorate hate and loath them.
Never in history have 3 major parties been so hated at the same time. |
Story in DT about Lloy facing a £1bn tax bill after losing a court case. Doesnt seem to have affected the share price and nobody has mentioned it on the obsessive's thread ?! |
fuk Careless
Durham let him off of all the c,,,ts stufrfed Doris for a cake he did not get to eat.
life is a bummer
But u are the ultimate!!! |
 Military Situation On Ukrainian Frontlines On February 5, 2025 (Maps Update)
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Russian strikes were reported in the Cherkassy region;
Russian strikes were reported in the Kiev region;
Russian strikes were reported in the Dnipropetrovsk region;
Russian strikes were reported in the Vinnitsa region;
Russian strikes were reported in the Kharkiv region;
Russian strikes were reported in the Kirovograd region;
Russian strikes were reported in the Khmelnitsky region;
Russian strikes were reported in the Poltava region;
Russian strikes were reported in the Sumy region;
Russian forces advanced in the Kupyansk direction;
Russian forces advanced in the Kurakhovo direction;
Russian forces advanced in the Pokrovsk direction;
Russian forces advanced in Chasov Yar;
Russian forces eliminated 30 servicemen, one motor vehicle, three field artillery guns, and one ammunition depot in the Kharkiv area;
Russian forces eliminated 220 servicemen, three armoured vehicles, one M113 armoured personnel carrier, nine pickups, four artillery guns in the Svatove area;
Russian forces eliminated 200 servicemen, one armoured fighting vehicle, five motor vehicles, and two ammunition depots in the Chasov Yar area;
Russian forces eliminated 500 servicemen, three armoured vehicles, one M113 armoured personnel carrier, nine motor vehicles in Donetsk region;
Russian forces eliminated up to 120 servicemen, one armoured vehicle, three motor vehicles, four artillery guns, two M777 and M198 in the Southern Donetsk area;
Russian forces eliminated up to 60 servicemen, one tank, two infantry vehicles, five motor vehicles, one artillery gun in the Kherson region;
Russian air defense forces shot down 10 U.S.-made HIMARS MLRS projectiles and 57 UAVs over the past day.
Russian forces took control of Kalynove;
Russian forces took control of Zapadne;
Clashes continued in Zagryzove;
Clashes continued in Petropavlivka;
Up to 30 servicemen, one motor vehicle, three field artillery guns, and one ammo depot were destroyed in the area.
Russian forces took control of Dachnoye;
Clashes continued on the southern outskirts of Kostyantynopil;
Clashes continued in Andriivka;
Russian forces eliminated up 500 servicemen, three armoured vehicles, one M113 armoured personnel carrier, nine motor vehicles in the area.
Russian forces advanced in Udachnoe. Fighting is going on for the Udachnoye railway station;
Russian forces have entered Zaporozhie village;
Clashes continued in Uspenivka;
Clashes continued in Lysivka;
Clashes continued in Nadiivka;
Russian forces eliminated up 500 servicemen, three armoured vehicles, one M113 armoured personnel carrier, nine motor vehicles in the area.
Russian forces expanded their zone of control in the forest area on the southern outskirts of Chasov Yar;
Clashes are ongoing in the center of Chasov Yar;
Clashes are ongoing in the Shevchenko district;
Up to 200 servicemen, one armoured fighting vehicle, five motor vehicles, and two ammunition depots were destroyed in the area.
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Lloyds to Contest Claim It Owes £1 Billion in Back Taxes to UK
Bank is challenging HMRC over taxes linked to Irish exit
Tribunal found Lloyds owes sum, which firm will appeal
Lloyds Banking Group Plc will appeal a tribunal decision after a judge found the lender owes £1 billion ($1.3 billion) in UK back taxes tied to winding down its operations in Ireland more than a decade ago.
Lloyds will likely have to recognize a reduction in cash of this amount when it reports earnings in July, according to a person familiar with the matter, who asked not to be named discussing non-public information. There will be no capital impact from the tribunal’s decision, the person said.
“Having reviewed the judgment in detail, we respectfully but fundamentally disagree with the tribunal’s decision and will be appealing the judgment,” Lloyds said in a statement. “The group is one of the UK’s largest taxpayers, and is at all times committed to paying all the tax that it owes.”
The tribunal’s decision can be traced back to Lloyds’ decision to exit its troubled Irish operations in 2010. At the time, Lloyds said it was entitled to claim £3.8 billion in tax relief.
But the UK rejected that claim and instead said the bank was liable to pay additional corporation tax. That’s kicked off a yearslong dispute over the matter.
Lloyds inherited the Irish business in its emergency purchase of HBOS during the global financial crisis. Two years later, after Lloyds had injected almost €8 billion of capital into the unit, the bank began extricating itself from the country.
The bank’s appeal will turn the matter over to the upper tax tribunal and executives don’t expect a resolution for years, the person familiar with the matter said. From the upper tribunal, the case could find its way to the Court of Appeal and, later on, the Supreme Court.
A spokesperson for His Majesty’s Revenue & Customs said in a statement to Bloomberg News: “We’re pleased the first-tier tribunal agrees with our position to deny claims for cross-border group relief in this case.”
Lloyds has previously warned investors that if the courts ultimately decide that HMRC’s determination is correct it would result in an increase in its current tax liabilities of approximately £950 million and a reduction in the lender’s deferred tax asset of approximately £275 million.
In addition to the tax dispute, investors are keeping a close eye on separate court cases involving some of the UK’s biggest auto lenders over commissions that helped car dealers earn thousands of pounds for themselves while allowing banks to push up interest rates they offered buyers. The UK’s Supreme Court has agreed to hear an appeal by Close Brothers Group Plc in a landmark lawsuit related to the matter.
Lloyds, the biggest provider of car finance, has already set aside £450 million to pay for possible compensation and other costs linked to the matter. Moody’s Corp. analysts have said the total cost for the industry could ultimately reach £30 billion. |
Richard Buxton: Why Lloyds is my top bank pick
The former fund manager outlines the big advantage Lloyds has over rivals Barclays and HSBC. |
WATCH Ukrainian Challenger 2 tank hit by Russian drone (VIDEO)
The British-supplied armor was reportedly operating in Russia’s Kursk Region when it was targeted by a fiber optics UAV
A British-supplied Challenger 2 main battle tank operated by Ukraine’s army has been hit by a Russian fiber optics-guided drone, a new video that has surfaced online purports to show. The unverified footage was reportedly taken in Kursk Region.
Footage shows a lone Challenger 2 driving in an open field along a road while observed by the FPV drone. The tank lacks any anti-drone defenses apart from multiple electronic jammers on its turrets; effective against radio-controlled drones but useless against cable-guided UAVs.
The drone dives into the rear of the tank’s turret, where its ammo stock is kept. The extent of damage sustained by the tank was not immediately clear, however.
Fiber optic-guided drones have seen increasing use over the past few months. The UAVs, which are immune to jamming but are somewhat less agile and bulkier than their radio-controlled counterparts, were first deployed en masse onto the battlefield by the Russian military last August amid efforts to contain the Ukrainian invasion of Kursk Region.
Since then, the use of cable-guided drones has spread, with their use reported by both sides in multiple cases along the conflict frontline.
The UK has supplied a total of 14 Challenger 2 tanks to Kiev, according to official data. The tanks however have rarely seen action, and the Ukrainian military appeared to primarily use them to film propaganda rather than for actual warfare.
The situation changed with the invasion of Kursk, into which the Ukrainian military poured most of its available reserves, including the Challenger 2 tanks. Up to a half of the UK-supplied tanks have been reportedly destroyed in combat, with some of the kills corroborated online. |
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After clicking the link above you need to change the xx in hxxps to tt and the link works. |
wow Leeds for Palestinians.
Well done Tonybliar
UK: Activists held a rally throughout the streets of Leeds in the UK in support of the Palestinian people
Who let them all in? |
Really - cricket has lift off?
Yorkshire have become the first team to agree to sell their entire stake in a Hundred team.
The Sun Group, owners of Indian Premier League side Sunrisers Hyderabad, have paid just over £100m for a 100% stake in Northern Superchargers, who are based at Yorkshire's home Headingley.
Superchargers are the sixth team to secure the investment, with the Sun Group the first to take full ownership of a franchise.
Cant think of a worst investment -cricket here aint out but smash and grab
Worst = LLOY |
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