Lloyds Banking Share Discussion Threads

[poikka] 30/6/2019 11:56

I hadn't noticed any name-calling, but then as I've got Minerve on filter, I guess it must be him.

[maxk] 30/6/2019 11:47

Our Min, busy making friends and influencing people.

[poikka] 30/6/2019 11:47

Good to see Oiley resigning - before he's kicked out.

[gaffer73] 30/6/2019 11:21

I believe they are buying back much more than they are issuing but I take your point. UK tax system to blame I'm afraid.

[kenbachelor] 30/6/2019 10:52

Guys - Isn't it time to stop all the name calling? It reflects far more on the person doing it, than it does on the person it's aimed at.

[grahamite2] 30/6/2019 10:17

The best thing Boris can do to demonstrate his largesse is to offer a hand of friendship and conciliation to Nigel Farage.
The truth is that without Nigel’s bravery in fighting back against May’s Travesty Bojo would still be in the wilderness, licking his self inflicted wounds.
Do a deal with the Brexit Party, ennoble Nigel and make him either Chancellor or leader of the Brexit Team.
Let’s be honest the Brexit Party is stuffed with the disenfranchised electorate who mainly voted Tory till Now.
Go on Boris, you know it is the right thing to do and your standing in the country will double.

Telegraph comments.

[turvart] 30/6/2019 10:05

My position is flat at the moment with Lloy, the fundamentals are in great shape and I would say this is a buy, however what I disliked about LLoy in previous years is the fact they issue shares to pay employees bonus and it causes massive dilution over time, I know they are having a share buy back scheme but at the same time they issue new shares and so its 2 steps forward and then 1 back and for me although I think the fundamentals are in great shape, with Lloy old habits die hard with this additional listings and for me I have no patience for the board of directors.

I'm staying out of this stock there are much better fundamentals in the FT100 and TW. is one of them, makes my stomach churn when Lloy keeps adding shares to pay employees who then sell.

[xxxxxy] 30/6/2019 09:53

The post-Brexit ‘trade deal’ you weren’t told about

For a ‘no deal’ Brexit, the Government announced zero tariffs on 87% of all imports
Part Two of our simple explainer of trade under a WTO-terms Brexit


Credit: Dept for International Trade

Readers may have blinked while watching BBC news and missed this

On 13 March this year, ahead of the 29 March and April 12 ‘leaving dates’, Philip Hammond’s Treasury Dept and Liam Fox’s Dept for International Trade announced

“the UK’s temporary tariff regime for no deal, designed to minimise costs to business and consumers while protecting vulnerable industries.”


The effect of the new schedule of tariffs is to zero-rate 87% of goods entering the UK from the EU and from the rest of the world. This plan was (and is) the most radical proposed change to the UK’s international trading arrangements since the EU took over control of trade and imposed huge tariffs on goods entering any EU28 country.

BREXIT FACTS4EU.ORG SUMMARY
87% of all imported goods (by value) will have zero tariffs applied
A few UK economic sectors – agriculture, cars, textiles, ceramics – will be protected by tariffs
Northern Ireland will have ALL imports zero-rated
This arrangement is for the first 12 months post-Brexit
What does this mean to the average member of the public?
In the event that the UK leaves the EU on 31 October 2019 on WTO terms, the vast majority of goods imported by the UK from either the EU or the rest of the world will not be subject to any tariffs, meaning prices will be able to fall in most cases of non-EU imports and will stay the same for most cases of EU imports as they were tariff-free anyway.

There are exceptions in certain sectors, amounting to just 13% of the value of all imports and representing only a tiny fraction of the UK economy as a whole. These exceptions have been made to protect vulnerable sectors, as follows:-

Agriculture: Beef, lamb, pork, poultry and some dairy to support farmers and producers who have historically been protected through high EU tariffs
Automotive: tariffs on finished vehicles of around 10%, but NOT on car parts used in manufacturing
Some homeware, clothing: tariffs of up to 12% - traditionally subject to high EU tariffs
Miscellaneous: ceramics, fertiliser, fuel – to protect against ‘dumping’; – and various products such as bananas, raw cane sugar, coconut oil, and some types of fish
With the exception of the above, imports will be zero-rated. This will mean potentially lower prices for the consumer when buying any of the majority of goods which are imported into the UK.

Northern Ireland will be exempt from all tariffs
In a bold move, the Government plans to zero-rate all products imported into Northern Ireland.

“The UK temporary import tariff announced would therefore not apply to goods crossing from Ireland into Northern Ireland.
“We would only apply a small number of measures strictly necessary to comply with international legal obligations, protect the biosecurity of the island of Ireland, or to avoid the highest risks to Northern Ireland businesses - but these measures would not require checks at the border.”

What are the potential downsides of the proposed tariff regime?
A) Protecting certain UK economic sectors

The Government intends to protect industries such as farming, and car and textile manufacturers. It will therefore become more expensive to import agricultural goods, cars, fuels or textiles from around the world. This in turn may mean higher prices for some of these goods if these tariffs are passed on by businesses, albeit that they represent a small fraction of the UK economy.

B) Discriminating in favour of the Republic of Ireland

There are also questions about the arrangements for Northern Ireland, which is an integral part of the United Kingdom. Readers who saw Part One of this trade series yesterday may be asking themselves if it is legal in terms of WTO rules to discriminate in favour of one country.

A principle of the WTO is that identical tariffs should be offered to all WTO members. In effect the UK would be discriminating in respect of goods from the Republic of Ireland crossing into Northern Ireland.

There are three answers to this
Any claim made to the WTO takes years to reach adjudication, by which time this temporary regime should have been replaced
We believe the Government could rely on the WTO’s Article XXI which covers exemptions for purposes of national security
The exemption for Northern Ireland has clearly been made to support the Good Friday Agreement, and we doubt that the WTO would want to be seen as provoker of an old conflict between two members
C) This is a unilateral policy - other countries can apply tariffs to our exports

Any Government can only decide on its import tariffs. It is up to the EU countries and the rest of the world to decide what tariffs they wish to impose on their own imported products, although they must offer the same to all countries unless they do a Free Trade Agreement or enter a customs union. This might restrict the UK's ability to do good trade deals in the next 12 months following Brexit. That said, this scheme is designed to be temporary and will be reviewed as the post-Brexit United Kingdom takes shape in its first year.

It's also important to remember that goods exports as a whole represent only a small fraction of the UK economy.

Post-Brexit trade - MENU

Intro - Intro to trading with the EU after 31 October
Part 1 - Why Boris is right. A simple summary of the 'GATT XXIV' option.
Part 2 - Brexit with no trade agreement, on WTO terms, but with 87% of all goods being on a zero-tariff basis (this article).
OBSERVATIONS
The above tariff scheme has been available for three and a half months, but we know many readers will not have been aware of it because it received very little media coverage.

It relates solely to a clean, WTO-terms Brexit. This is the form of Brexit of which Philip Hammond most definitely does not approve (and of which it seems Liam Fox no longer approves), and yet this scheme was published by them on behalf of the Government. It is official policy.

With 87% of UK imports subject to zero tariffs in the event of ‘no deal’ – and the remainder only subject to some tariffs to protect some vulnerable sectors – we thought that Brexit Facts4EU.Org readers might find this interesting and important.

Finally, whilst everyone is enjoying the heatwave, please give a thought to supporting our work if you can. Quick and simple donation methods are below.

[ Sources: Dept for International Trade | The Treasury | WTO ] Politicians and journalists can contact us for details, as ever.

Brexit Facts4EU.Org, 30 Jun 2019

[alphorn] 30/6/2019 09:52

Perhaps he should re-read what he has written before going to print.
"The G20 has produced no answers to the burning question of future trade relations between the USA and China. Mr Trump tells us he had a great meeting with President Xi, and talks will resume on the outstanding issues. He has conceded that he will not press ahead with the extra tariffs he threatened, whilst China has conceded that the tariffs already imposed remain whilst new talks are underway".

[hernando2] 30/6/2019 09:49

Olly off for his reward in the city...You did well old son...for yourself

[xxxxxy] 30/6/2019 09:47

Trade and tariffs

By JOHNREDWOOD | Published: JUNE 30, 2019

The G20 has produced no answers to the burning question of future trade relations between the USA and China. Mr Trump tells us he had a great meeting with President Xi, and talks will resume on the outstanding issues. He has conceded that he will not press ahead with the extra tariffs he threatened, whilst China has conceded that the tariffs already imposed remain whilst new talks are underway.

The USA has raised serious strategic and security issues over technology which are not easily resolved for the sake of a trade deal. The Huawei ban clearly worries China considerably, and the USA has given a little there as well.The USA has difficulties believing new Chinese promises to respect Intellectual Property and to trade fairly. The US wants China to take her tariffs down to US levels as they are currently skewed heavily in China’s favour.

For her part China does not want to give in to what it sees as US bullying. Chinese military power and reach grows by the day, and China is extending her military authority throughout the Asian region. The US defence establishment is concerned about this, and seeks to preserve freedom of navigation in international waters.

The US President also keeps mentioning the big imbalance of trade the USA has with Germany/EU, especially in cars. He may wish to open a new front in his trade war over that. EU tariffs are four times the level of US tariffs on cars, which the US understandably challenges.

Most economists regard the trade war as a negative for the world economy and damaging to the US as well. Mr Trump sees extra Treasury revenues from the tariffs and expects the tariffs to lead to more domestic production and fewer imports. It seems likely that China – and Germany if the US attacks them too – have more to lose from this trade war. Their huge trade surpluses have led to this action by the USA, and the asymmetric tariffs and trade practices do need sorting out. They have many more exports at risk than the USA.

[maxk] 30/6/2019 09:07

Good to see you lolling Alp :-)

[maxk] 30/6/2019 09:05

Jumping ship ...



Olly Robbins, Theresa May's chief Brexit negotiator, to quit role before new PM takes power








Telegraph Reporters
29 JUNE 2019 • 10:40PM
Follow
Theresa May's chief Brexit negotiator is set to resign shortly after the next Prime Minister takes power, The Telegraph understands.

Olly Robbins, 44, has committed to a brief handover before he moves on, with reports he may take up a lucrative job in the City.

His departure is the latest in a wave of top civil servants who have announced they will resign rather than take on the challenge of delivering Brexit within 100 days under the new leader.

Mr Robbins, who helped to secure Mrs May's doomed deal in Brussels, has been blamed by Brexiteers for softening the terms of Britain's exit from the EU and failing to demand concessions from the EU on the Northern Irish backstop.




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[the grumpy old men] 30/6/2019 08:57

Shy Tott
30 Jun '19 - 08:34 - 263163 of 263165