Lloyds Banking Share Discussion Threads

[diku] 28/3/2020 08:26

A third of this summer's food harvest could go to waste on British farms because of a chronic shortage of migrant labour caused by the coronavirus outbreak, charities and farmers are warning.

UK farms and food producers rely on a migrant workforce of 60,000 to 70,000 seasonal labourers mainly drawn from eastern European countries including Romania, Bulgaria and Poland.



Farm labour charity Concordia says it is 'desperately worried'© PA Farm labour charity Concordia says it is 'desperately worried' Within weeks, fruit and vegetable crops will need harvesting but travel restrictions across Europe and the UK, imposed to slow the spread of COVID-19, mean it may prove impossible to recruit overseas staff.

[careful] 28/3/2020 08:18

Mortgage market frozen. Most offers being withdrawn.
Transactions are collapsing.
Daily Telegraph reports today on the reality.

We all have to get up to speed here, the financial system is in meltdown.
Maybe capitulation the stock market will happen when the new unemployment figures are published.

The FTSE100 index is still over 5000. during the crashes of 2003/2009 it fell to 3500.
And this feels much more serious.

I see even the bigger football club are in trouble.
Huge wage bills for their top players which they must pay.
Zero income.

What a mess.

The economy is as fragile as we humans. We normally breath and our heart beats for years without problem.
When we stop for 30 minute we are dead, permanently, no returning to normal.

[scruff1] 28/3/2020 07:58

I see the Guardian is doing its usual damndest to undermine the governments best efforts. National unity at a time of crisis not for Guardianistas. They really are contemptible.

[xxxxxy] 28/3/2020 06:19

Good morning.No Deal.

[maxk] 28/3/2020 00:23

buywell

The test kit currently available is very inaccurate, 50-60% if you are lucky.

There is better kit in the pipeline, but not yet to hand.


This article will give you a better idea of what they are up against.

[buywell3] 28/3/2020 00:06

Boris


NHS staff on the front line in particular in ICU's need to be tested for Covid every day before commencing shift

Tests are out there that can do this in one hour

My understanding is that you have one that can do it in 2 hrs from a UK company coming

Italy tells the story as nearly 50 doctors are now dead from Covid

The more virus taken in = the worse the symptoms get

buywell

[minerve 2] 27/3/2020 22:52

Why all that relief Donald when it's going be over by Easter?

[k38] 27/3/2020 22:27

A lot of trillions... I wonder where they find them. I want some too.....

[aljm] 27/3/2020 22:17

There you go Ladeside, signed just 1 hr ago...

Donald J. Trump
@realDonaldTrump
·
1h
I just signed the CARES Act, the single biggest economic relief package in American History – twice as large as any relief bill ever enacted. At $2.2 Trillion Dollars, this bill will deliver urgently-needed relief for our nation’s families, workers, and businesses. #CARESAct🇺🇸

Wonder what effect that is going to have on monday, we had bad news today, looking interesting for monday.

[stonedyou] 27/3/2020 22:09

Petrol under £1-A-LITRE for the first time since 2016! Birmingham retailer is selling a litre of unleaded for 99.7p as analysis shows most rip-off suppliers aren't cutting prices



Murco in Birmingham has been selling petrol for 99.7p-a-litre this week

•The fuel station is located on the A435 between Kings Heath and the Maypole

•It's the first time petrol has fallen below £1-a-litre since Jan/Feb 2016

•Average price of unleaded on Tuesday was almost 118p per litre, AA says

•Based on average wholesale petrol cost, prices should soon fall below £1-a-litre across the UK

•Is fuel still expensive where you live? Email: [e-mail]


A petrol station in Birmingham is the first in Britain to offer fuel for less than £1-a-litre following the oil crash earlier this month.

The Murco garage on the A435 near Kings Heath on Tuesday cut the price of unleaded to 99.7p - the first time it has dropped below £1-a-litre since early 2016.

It follows cuts of up to 12p-a-litre announced by Asda and Morrisons on Monday, which had seen unleaded drop as low as 104p at the respective supermarket forecourts.

However, analysis of average UK prices by the AA has found that the wider fuel industry is continuing to rip-off motorists, with the average cost of a litre of unleaded on Tuesday at 118.7p - some 19p-a-litre more than the Murco filling station.

[diku] 27/3/2020 22:05

Nature call?....

[poikka] 27/3/2020 21:24

Here's a report from HL that might throw some light on just how banks might manage in the present climate - if anyone was wondering.

"Banks will, generally, have little choice to pass the interest cut on to borrowers – thanks to a combination of intense competition in areas like the mortgage market and base rate tracking loans. But interest rates on savings accounts are already on the floor, and banks will struggle to cut them more without risking customers taking their savings elsewhere.

That will squeeze banks’ ‘net interest margins’ – the difference between what a bank pays depositors and charges borrowers. It’s bad news for profitability – although banks with more exposure to fee generating investment banking activities will have some protection.

It doesn’t help that economic downturns tend to come with an increase in bad loans – hitting profitability still further. The spectre of rising unemployment as companies look to trim costs and conserve cash adds to the headache for banks that are overly exposed to riskier credit card and car finance loans.

The good news is that banks are far better capitalised than they were even a few years ago. That should make them better able to withstand a sustained period of weakness. Improved liquidity through QE and access to cheap funding will help to offset the net interest margin headwind to some extent and are good news for banks’ long-term health.

However, with profitability likely to fall, the dividends, which have only recently returned to the sector following the financial crisis, could be under pressure."

As for the ECB suggesting that banks refrain from paying divis - well maybe yes, maybe no, but let's leave it up to individual banks to make the decision. You can go back to sleep now, Chrissie.

[stonedyou] 27/3/2020 21:15

"Finally, dividends are public promises. Breaking them is both embarrassing to management and damaging to share prices. To tarry over raising dividends, never mind suspending them, is seen as a confession of failure"

[stonedyou] 27/3/2020 21:11

Lloyds Banking Group announces new measures to support retail customers

25 March 2020


We understand how important it is for our customers to receive our support with their finances during these unprecedented and challenging times. That’s why we are introducing even more measures to support our customers.

Overdrafts


•From 6th April, Lloyds Bank, Halifax and Bank of Scotland customers will be able to access a £300 interest-free overdraft. Customers with an agreed overdraft do not need to take any action as this will automatically be available for three months until 6 July.

•Customers can apply for new overdraft borrowing using the mobile app, online banking or by calling us.

•Any amount borrowed over this will be charged at the existing daily rate. From 6 April, we will introduce a new overdraft charging structure which will mean our customers will pay less interest than they do today.

[minerve 2] 27/3/2020 20:47

diku

"Sell Nector Island?..."

It is Necker Island and he owns a few others I believe including Mosquito Island nearby.

[maxk] 27/3/2020 20:47

A dose of the clap wouldnt do you any harm Min.

[essentialinvestor] 27/3/2020 20:44

There are 800 ICU beds in London for a population of approximately 9 million.

An issue with this new virus is the number requiring hospitalisation
and in particular intensive care.