Lloyds Banking Share Discussion Threads

[ladeside] 08/7/2019 10:19

"If Scotland were ever to obtain Independence there will be far less work as many Scottish Industries owned by British and American Companies will distance themselves from a utopia that doesn't exist"

Please explain ?

In your world of the "Empire" everything will be great post Brexit as little England isolates itself through choice, however apparently Scotland would be screwed ??

As I said, please explain this warped logic ??

[pawsche] 08/7/2019 10:14

Expecting a BBC program to be fair or impartial over Brexit is as likely as expecting Corbyn to be waxing lyrical over the beauties of capitalism!

[mikemichael2] 08/7/2019 10:10

Plenty going on in my life Min, i don't just post doom and gloom on here all day!!The garden takes as long as i like, some days nothing some days a few hours.

[alphorn] 08/7/2019 10:07

diku - the question is who will be less weak; then bet on it. ;)

Here is one from this morning that the Telegraph will not mention:

Germany’s industrial output and exports returned to growth in May after a sharp slump...…̷0;…..

[poikka] 08/7/2019 10:06

Just love the use of English, lol.

"Rycroft said more than 16,000 civil servants had been scrambled to work on Brexit-related issues in a BBC Panorama interview to be broadcast on Monday night."

Not trying to belittle the article, diku.

[diku] 08/7/2019 09:58

I guess that would also include the EU...as markets are all inter linked...so the EU better give us a deal...




A former Brexit planning chief has warned "everybody should be worried" about the consequences of the UK leaving the EU without a deal.

Philip Rycroft was the most senior civil servant in the department for exiting the European Union (DExEU) until he resigned in March.

Rycroft said more than 16,000 civil servants had been scrambled to work on Brexit-related issues in a BBC Panorama interview to be broadcast on Monday night.

Speaking for the first time since his resignation, he called a no-deal Brexit "fraught with risk," and called Britain's current situation "unprecedented."

"I think everybody should be worried about what happens in a no-deal situation. We would be taking a step into the unknown," he said.

[alphorn] 08/7/2019 09:42

mm2 - good on you. The glorious weather here has meant that many fruit and veg are almost being given away. Plenty of taste as well which is great.

[minerve 2] 08/7/2019 09:41

Who do you believe?

Trumpty Dumpty or Sir Kim Darroch?

ROFLMAO!

[alphorn] 08/7/2019 09:40

Max - Boris playing down the league tables? UK is still the 5th largest economy by many commentators. The UK, France and India are all within a few pennies of each other.

[mr.elbee] 08/7/2019 09:35

Rory is clinically mad,didnt you know Poikka?

[poikka] 08/7/2019 08:23

Betty Boothroyd as Speaker! Has Rory completely lost it? Poor woman's approaching 90, but then for all I know she's still got all her marbles and works out three times a week.

Formidable lady.

[poikka] 08/7/2019 08:21

LLOY up this AM; although happy holding here, it's no doubt a bit early to break out the champers for DB.

"Mr Sewing was a former bank apprentice who progressed through the ranks of the bank, and he is much more keen on retail banking over investment banking.

"What we're seeing is the end of a culture war in the bank where on one side, the international bank managers who wanted to turn Deutshe Bank into more of an investment banking giant globally, and the German culture within the bank, which is always safer, domestic investments," Damien told BBC Radio 4's Today programme.

"I think a lot of people in Germany would say it's a welcome change, but you're having to lay off a lot of people, which is an expensive change... and we won't know until at least 2020 if the change has worked.""

[xxxxxy] 08/7/2019 08:02

10 big wins from just leaving the EU on 31 October

By JOHNREDWOOD | Published: JULY 8, 2019

We can

Spend all the money we save on our priorities

Cut tariffs on imports especially where we cannot grow or make them for ourselves

Remove VAT from items as we wish – as with green items like insulation and boiler controls and feminine hygiene products

Rebuild our fishing grounds and land more of our own fish for home consumption

Work with our farmers to cut food miles and enjoy more home grown produce

Regain our seat and vote in international bodies

Sign Free trade deals that suit us with other countries – all the time we were member s they never managed an FTA with the USA and many Commonwealth countries

Decide our own laws

Cut the costs of government by getting rid of a whole unnecessary EU level

Avoid all the financial and foreign policy risks of the Euro and common EU foreign policy

[maxk] 08/7/2019 07:59

Johnson also signalled that the UK would be prepared to tear up red tape and slash taxes. “We will be free to substantially diverge on tax and regulation,” he said. “I have had enough of being told that we cannot do it – that the sixth biggest economy in the world is not strong enough to run itself and go forward in the world.”




“We can choose more of the same, or we can choose change: delivering Brexit on 31 October, uniting the country and beating [Jeremy] Corbyn.”

[maxk] 07/7/2019 22:45

Nu Democracy has won in the land of €l Greco, will it make a blind bit of difference?

[bargainbob] 07/7/2019 22:11

Minerve , the independence sites up North, have some really funny mock ups.

[minerve 2] 07/7/2019 21:40

Trump claims army 'took over airports' in 1775


ROFLMAO!

What a complete wet noodle.

[alphorn] 07/7/2019 21:19

Cheshire - you can always visit his thread if you suffer withdrawal symptoms. He is a regular here red ticking his favorite posters. Lol

[alphorn] 07/7/2019 21:10

diku - have a position in Barclays. They have been a disappointment and in answer to your question probably not unless they get their act together.

edit: I always worry about contagion when someone big is in trouble. Will they contain their problem loans in a bad bank? They talk of a bad bank of £66bn of 'assets'. - that is one big bad bank. ;)

[maxk] 07/7/2019 21:04

Robbed from the JTC thread, h/t to MT



Mount Teide 7 Jul '19 - 11:17 - 76087 of 76107
0 5 0

The UK must leave the EU as soon as possible. It is crucial we have NO contingent liabilities to the EU - May's Surrender Treaty tied us in to hundreds of £Billions of contingent liabilities.

A refreshing statement of hard, economic facts from Liam Halligan.


We didn't listen to Project Fear before and here's why we won't listen to it now - Telegraph Business

'Barely a day goes by when I’m not asked for my thoughts on the UK economy. Whether it’s over email, people phoning, or coming up to me on the train, I’ve never known a time – apart from the 2008 global financial crisis – when interest in our future economic direction has been so high.

The difference with 2008 is that rather than focussing on the hard data of US stock markets, global currencies and international interest rates, today’s economic discussions are fixated on domestic politics. Almost every utterance about the UK economy comes across as a statement on the Tory leadership, Corbyn or some point of Parliamentary procedure.

Every economic prediction, it seems, is about reading the political runes. Philip Hammond said he and other MPs would “find a way” of blocking a “no-deal”; Brexit. The Chancellor will, he says, personally oppose leaving the European Union without a legal agreement on October 31.

Hammond told the Commons that “No Deal” could cost the country £90bn – equivalent to a whopping 4pc of annual GDP. Such catastrophism was echoed by would-be Prime Minister Jeremy Hunt, who said leaving without Brussels’ permission could do economic damage “equivalent to the 2008 financial crash”.

This is despite Hunt recently declaring he agrees with Boris Johnson and would, too, leave with no deal “if necessary”.

Since we voted to leave the EU back in June 2016, the UK economy has showed serious resilience. For all the tut-tutting, the constant drumbeat of media negativity, the economy has held up quite well.

The Treasury’s pre-referendum forecast, that simply voting Brexit would cause “an immediate and profound economic shock”, was laughably wrong – as some of us predicted. Rather than tipping into instant recession – the Treasury predicted a 1pc GDP contraction in the third quarter of 2016 and another 0.6pc squeeze over the following three months – the UK economy sailed on, recording a 0.6pc expansion in both post-referendum quarters.

The public finances strengthened over the subsequent two years and unemployment fell to a 43-year low. All of this was the precise opposite of the Treasury’s horror-story forecasts, repeated ad nauseum by the then Chancellor George Osborne as part of a concerted campaign to frighten voters.

And who knows – with forecasting credentials like that, and no economics degree, that same former Chancellor could yet end up running the International Monetary Fund.

During the first quarter of this year, despite Theresa May’s hopeless prevarication, the UK economy grew 0.5pc, up from 0.2pc the quarter before. This was partly driven by stock-piling in anticipation we’d leave the EU, as May endlessly told us, at the end of March.

Manufacturing rose 1.9pc, a near 20-year high, as firms brought forward orders. Consumer spending surged 0.6pc, the most in two years, and business investment expanded 0.4pc, after four quarter of wait-and-see contraction, as business leaders anticipated that years of ghastly Brexit uncertainty was finally about to end.

But May dropped the ball, rattled her hopelessly one-sided Withdrawal Agreement was rejected, and lacking the clarity of mind to leave with no deal. And now the economy is suffering – not because of Brexit, because we haven’t yet had Brexit, but by the utter bungling mess our political class has made of the process of Brexiting, and all the uncertainty that has entailed.

The combination of a global slowdown and pessimism linked to get more political shenanigans means the UK economy may have contracted during the second quarter of 2019. As stockpiles are unwound, and with a worldwide hit to the car industry, as manufacturers grapple with emissions-legislation and the shift to electric, Britain has clearly been hit.

The PMI services index slipped to 50.2 in June, we learnt last week, with the equivalent measure for manufacturing below the no-growth level of 50. When the GDP numbers are published, it may be that the UK economy shrunk between April and June. That would be the first quarterly contraction since 2012.

Hammond’s prediction of a no deal meltdown lacks credibility. It’s based on those same government forecasts of 2016 – the methodology of which the Treasury refuses to discuss with serious academic researchers. Hunt’s comparison of a no deal Brexit with the 2008 crash is similarly based on previous Bank of England scare-mongering.

Yet no serious independent economist thinks No Deal will be anything like 2008. Trade with the EU accounts for not much more than a tenth of the UK economy. Just 8pc of British firms trade with the 27-member bloc. The idea that leaving the EU could cause a shock to the UK equivalent to the largest peace-time global slowdown in a century, when the entire world economy slumped, is absurd.


The fact that someone who purports to be our Prime Minister can make such a claim, and be taken seriously, speaks volumes about the chronic lack of objective economic analysis that pervades our political discourse. No Deal continues to be demonised by those who say they “respect the referendum result” but are really Brexit-blockers.

The reality is that preparations have been made on all sides to minimize or eliminate disruption. Deals have been struck so exports will keep flowing, and planes will fly. Phone roaming charges won’t change – as the big telecom outfits have now confirmed. Trade agreements with our most important global customers have been agreed or are in the works.

We don’t often hear that no deal could lead to big price reductions in food and consumer goods such as clothing and footwear, if the UK government drops high tariffs on imports from outside the EU which Brussels now forces us to impose. We don’t often hear that the Dublin government is now being forced to acknowledge there won’t be new physical infrastructure in sensitive areas and necessary customs checks can happen away from the border.

We don’t often hear that UK exports to the EU have fallen from 60pc of all goods we sell abroad in 1999 to just 43pc now, despite the much-vaunted single market and customs union which it would apparently be so disastrous to leave. We don’t often hear that UK trade with the 85pc of the world economy outside the EU is not only now the majority of our trade, but is fast-growing, conducted largely under World Trade Organisation rules and produces a surplus.

That’s not a political statement, just a statement of fact.'