Lloyds Banking Share Discussion Threads

[pawsche] 17/2/2019 11:39

@bba....

True, but 1/28th isn't exactly a strong position. Additionally, the only EU bigwigs who have any "clout" are the commissioners and it's been obvious since the get-go that those drawn from our political "elite" (if such luminaries as Neil Kinnock could be so described) have had no interest in what hoi poloi think or want and have been fully-"paid-up members" of "The Project" since day 1.

[bbalanjones] 17/2/2019 11:31

Pawsche; a minor but relevant addendum to that 40+ years portion is the fact that for those full 40+ years we were Members of the EEC/EU entity, with full voting rights on all aspects of that morphing.

[grahamite2] 17/2/2019 11:05

A spokesman for the airline blamed “the uncertainty created by the Brexit process” for the collapse

A ready-made excuse for any commercial misfortune.

[pawsche] 17/2/2019 10:59

@cheshire pete - 16 Feb '19 - 12:41 - 246480

bbalanjones #464: "Ha! Obviously you may have a short memory or perhaps not old enough to realise that the FIRST vote re EU Membership was in 1975."

Wrong: the vote in 1975 was about joining the common market or EEC, which was about trade.

A slight quibble - the 1975 vote was whether or not the UK remained in the EEC. We had been taken into it by the Heath tory government on January 1st 1973 without any reference to the UK's voters.

In the 40 years + it morphed into a political union, the EU, which is now a completely different animal to the EEC. The 2016 referendum asked the people to vote on the EU not the EEC.

I have absolutely no argument with that.

[maxk] 17/2/2019 10:57

Skewered :-)

[grahamite2] 17/2/2019 10:52

You're absolutely right to surrender bbalanjones. Accept reality! :)

Enjoy the rest of the weekend.

[prewar] 17/2/2019 10:50

"Meanwhile, the EU has done sweet FA. Why all this bilge about us needing EU regulations and directives."

What do we want?

More EU meddling in national affairs!

When do we want it?

Erm now?

[bbalanjones] 17/2/2019 10:45

g2 & cp : Very tempted at this point just to raise the flag of abject surrender re arguments on Brexit and/or climate change. Our views are totally opposite, split as in the rest of our poor society (sorry Maggie said there was no such thing as Society - didn't mean to offend). Life is too short to be incessantly engaged in such polarised discussion. Long live the EU . . . and if you live on low lying land . .be vigilant.

[excell1] 17/2/2019 10:42

Spot on with the open letter xxxxxxy. Totally agree with it.

[poikka] 17/2/2019 10:08

"The UK's communications agency GCHQ already has a task force dedicated to inspecting Huawei equipment.

The last report GCHQ produced said it found "shortcomings" in products that meant it could only give "limited assurance" that the firm posed no threat."

Meanwhile, the EU has done sweet FA. Why all this bilge about us needing EU regulations and directives.

[mikemichael2] 17/2/2019 10:06

60p next week please.

[xxxxxy] 17/2/2019 09:35

OpenLettertoParliament
from The Undersigned People of the United Kingdom
WE, the undersigned Sovereign People of the United Kingdom, do declare that it is our democratic, constitutional and legal right to secure our electoral voting decision in the 2016 EU Referendum. We do declare that the decision to Leave the European Union was taken by the majority of the electorate and is therefore legally and constitutionally binding on Parliament.

We will no longer accept the arrogance and petulant behaviour of MPs plotting to negate the decision made by the People. This shows to us their loss of national pride, civil duty, integrity, respect and understanding of democracy. Combining two separate issues – the result of the 2016 Referendum to Leave the EU and a Trade Deal. These are two separate issues and neither should impact on the other. A trade deal is just that a trade deal. Any trade deal negotiated must be on the basis that we have left the EU entirely as voted for in 2016.
Coupled with the recent actions of the Speaker of the House, John Bercow. This is not the first time the electorate has observed the Speaker of the House bringing the position into disrepute. (Open Petition Bercow). Mr. Bercow has let it be known that he is an ardent supporter of remaining in the EU, and overruling motions in the Commons together with secret meetings with an MP, just goes to prove that Mr. Bercow is on a personal mission to thwart the result of the electorate.
We declare that we have no confidence in Parliament and therefore in order to avoid further attempts by MPs to thwart the democratic process, we demand that the United Kingdom leaves the European Union with immediate effect, or at the very latest by 29th March, 2019, and not be tied to any Trade Deal or such like instrument.
By not agreeing to a no-deal, those elected MPs are stipulating that they will not support 17.4 million people who voted to leave the European Union; the highest turnout and the highest number ever to have voted in the history of the United Kingdom.
Parliament backed holding the EU Referendum by a margin of six to one; indicating its support that they will enact on the process of exiting to the timetable. However, some MPs are trying to thwart the democratic process of the result by failing to implement the decision that was made by the electorate by cloaking it up and making decisions off their own back such as demanding a second referendum or ‘people’s vote’, or by combining leaving the EU with a deal. Even the Governments’ own proposed ‘withdrawal deal’ is not leaving the European Union at all.
According to Article 50, the principle stands that if no agreement is forthcoming, the ‘member state’ leaves! We therefore demand that we leave the European Union, completely, on 29th March, 2019 under WTO rules.
The time has come to heal our nation and return it to a proud, self-governing nation. We therefore believe that the best route forward for our Country would be to leave the European Union and trade under WTO rules. This would provide us with a clean canvas to paint the future picture of our Country on the world stage.
We therefore call upon Parliament to cease manipulating and trying to thwart the democratic process and renege on the result of the 2016 EU Referendum. As stated by them…..

“We believe in letting the people decide: so we will hold an in-out referendum on our membership of the EU before the end of 2017.” (Conservative Manifesto 2015)
“the decision about our membership should be taken by the British people, not by Whitehall bureaucrats, certainly not by Brussels Eurocrats; not even by Government Ministers or parliamentarians in this Chamber.” (Foreign Secretary in the House of Commons on the Referendum debate).
“A once in a generation decision” stated on the Governments’ £9 million taxpayer’s funded leaflet. “The referendum on Thursday 23rd June is your chance to decide if we should remain in the European Union.” “This is your decision. The Government will implement what you decide.” (Government 2016 leaflet)
The People HAVE decided. We decided to LEAVE the European Union in its entirety and not have a Trade Deal combined nor attached to our decision in order to allow MPs to change the course.

Most Leavers conducted their own research and listened to debates ad nauseam, bombarded with messages of ‘putting the economy at risk’, ‘losing jobs’. ‘deep recession’, ‘a cliff edge scenario’, ‘crashing out’, ‘cost to families’, ‘think of your children and grandchildren’ etc., YET THEY STILL VOTED LEAVE
May we remind all MPs – they are in a privileged position, voted in, at time of election by the Electorate. They are not ‘the elite’, nor are the British Media who work closely with them; all rewarded by the EU, in their efforts, by power, influence and no doubt money. Their primary allegiance is to Queen and Country and NOT the EU.
We also declare that to transfer the sovereignty and powers of the United Kingdom Electorate to a foreign country or entity, without the declared assent of the United Kingdom Electorate is a breach of the Constitutional law and illegal. The United Kingdom Sovereignty & Powers were transferred to a foreign country/entity (the EU), without the declared assent of the United Kingdom Electorate and is a breach of the Constitutional law and illegal.

We believe we must protect future peoples of the United Kingdom and return democracy to the People. We therefore attach our Declaration which must now be contained within our uncodified Constitution to confirm that Parliament has not had ever, nor at any future time will have, the power to transfer or give away the Sovereignty of the United Kingdom to a foreign country or entity without the assent of the Electorate by way of a Referendum specifically set up for that purpose.

(Declaration)

Helen Davies, The List (Brexit)

Signed by The People of the United Kingdom (see below)

FOR SIGNATURE TO THIS LETTER
SCROLL DOWN THIS PAGE TO THE VERY BOTTOM

PUT YOUR FULL NAME IN THE BOX ENTITLED ‘Leave Your Name here’

CLICK ‘POST COMMENT’

This Open Letter has already been sent to all MPs but will be sent again together with a link to this page so they can see your signatures! Also being sent to No 10, Dept for Exiting EU and media outlets.







Pass it along please

[xxxxxy] 17/2/2019 09:30

LEAVE and WTO

EUSSR = Animal Farm

[xxxxxy] 17/2/2019 09:29

The Irish political class is getting increasingly nervous about the EU throwing them under the bus

[xxxxxy] 17/2/2019 09:24

Mark B
Posted February 17, 2019 at 6:15 am | Permalink
Good morning.

The EU does not care about trade. The rEU27 might, but not the EU, the political entity. We are wasting our time and should be focusing on Leaving the EU.

Trade with the rest of the world will open up new avenues. We will, hopefully, once free from damaging EU regulation be able to develop an independent energy and environmental policy that better reflects our needs. We will also be able to develop the biggest market we have, the one that does not get much of a mention here or elsewhere, and that is of our own internal market. Membership of the EU has developed a regulatory framework that has been deeply damaging to smaller concerns. Increasing costs in small but various ways adding to the level of bureaucracy and extra avenues for government to fine (a form of tax) and raise more money. It also slows the economy down with more wealth being consumed by government and wasted there on large and needless projects that only large corporates can benefit from.

Leaving the EU presents great opportunities not just far, but also nearer to home and, with new and growing business we can then export to these markets and reduce our budget deficit.

[xxxxxy] 17/2/2019 09:14

Freer trade worldwide

By JOHNREDWOOD | Published: FEBRUARY 17, 2019

The UK stands on the threshold of being able to lead the movement for freer trade worldwide. If we leave the EU in March we can pioneer new trade deals around the globe. Japan and others would like us to join the TPP, a vast free trade area in fast growing Asia. Australia and New Zealand, Singapore and South Korea, Canada and Japan would all like closer trade relationships than we have enjoyed as members of the EU.

The big issue is how the west relates to China. The world is witnessing a bruising encounter between the USA and China over many trade issues. The USA wants China to remove some of its many tariff barriers. It wants China to allow more inward investment without requiring joint venture partners and technology sharing. It wants a better enforcement of intellectual property rights in China. It wants more action by the Chinese to reduce over capacity and participate more as importers as well as exporters in the world trading system.

The UK should have a place in these debates, and will be able to once we are out of the EU. The UK too would benefit from more open markets in China, and from the removal of more tariff and non tariff barriers to trade by Beijing. The UK is helpful to China as she builds a large banking and financial service industry, with London playing a leading role in the international development of Chinese finance.

Many of us who voted Leave have a global perspective. Recognising the strong logic of numbers, this is the Asian century. Our trade with the EU will naturally diminish as a proportion of the total whether we are in or out of the EU. Our trade with Asia will grow. The issue is how quickly our Asian trade will increase, and how enthusiastic will we be about this development. Now is a good time to be a free trade advocate, and to get involved in TPP and Chinese trade relations. We can be a force for the good, for greater prosperity and more open markets.

It is long past the time when the UK government should publish its tariff schedule for April 2019. This too offers an opportunity to lower the EU tariff schedule we currently use, whilst keeping some bargaining power for future trade deals to eliminate more tariffs. If they see our tariff schedule it might also cement EU enthusiasm for tariff free trade with us

[maxk] 17/2/2019 08:26

End of the world..

[freddie01] 17/2/2019 08:21

UK retail sales bounce back in January


Retail sales bounced back sharply in January, rising by 1% on the previous month, official figures showed.

The Office for National Statistics (ONS) said the amount of goods sold rose by 1%, after falling by 0.7% in December, with discounts in clothing helping to boost sales.

Compared with a year ago, retail sales were 4.2% higher in January.

That was the biggest annual rise since December 2016. The figures beat most economists' expectations.

"Clothing stores saw strong sales, luring consumers with price reductions, with food sales also growing after a slight dip after Christmas," said ONS statistician Rhian Murphy.

The ONS said clothing prices fell by the most since August 2016.

The figures suggest that consumer spending may have picked up again after a lull following the summer's World Cup.

Inflation falls to two-year low in January
Economic growth slowest since 2012
The findings also echo those from the British Retail Consortium, which indicated that shops saw their fastest sales growth for seven months in January.

Other recent data has shown wages picking up after years of stagnation and rising faster than inflation.

Samuel Tombs, chief UK economist at Pantheon Macroeconomics, said: "January's jump in retail sales shows that most households have maintained a happy-go-lucky mentality, despite the fraught political situation. While consumers' confidence is down, this reflects rather fuzzy expectations that Brexit might be costly eventually."

But he added that although low confidence would prompt consumers to hold back from buying cars, booking holidays and moving home, he thought the High Street would be protected.

[freddie01] 17/2/2019 08:17

Banks could easily stumble over Brexit and buybacks


Many lenders may report decent results this week. But this is no time for long-suffering shareholders to relax


Many lenders may report decent results this week. But this is no time for long-suffering shareholders to relax

Lloyds’s plans for a buyback, like all such schemes, punishes investors who sell and rewards those who don’t.
Lloyds’s plans for a buyback, like all such schemes, punishes investors who sell and rewards those who don’t. Photograph: Christopher Thomond/The Observer
There is an old Lloyds Bank television commercial featuring those darlings of the 1980s sitcom, Jan Francis and Nigel Havers.

Francis’s character has just bought a house from Havers and the ad has the pair bumping into each other at the supermarket checkout. The encounter prompts Francis to give Havers a few unsolicited personal finance lessons, by explaining how her new Lloyds banking card means she has to write fewer cheques (it’s debatable whether the ad is dated more by the plot or the actors).

Havers then explains he’s already got one and flashes it to prove the point. “Gold,” Francis observes through grating gnashers. To which Havers shoots back: “I did rather well out of the sale of the house.”

This sums up the financial industry rather well, in that there are two parties, both impossibly smug, who delight in getting one over on each other financially. It is useful to have in mind as an analogy of how this industry works, as this week the banking sector’s reporting season really gets going. We have results from Lloyds, HSBC and Barclays, all of which follow the numbers from Royal Bank of Scotland on Friday, when the 62%-state-owned lender unveiled a doubling of profits (from a very low base) and fresh dividend payouts that will mean nearly £1bn heading to government coffers.

Essentially RBS, which, like Lloyds, is in effect only exposed to the UK, kicked off the season by saying that it is doing just excellently – while issuing warnings about the domestic economy in 2019. It is hard to envisage that rivals won’t use a similar line this week, although the argument “we are doing splendidly, even though the economy might tank” seems a curious sales pitch. Bank shares are in effect a proxy on the health of, er, the economy and these concerns come at a point when RBS and Lloyds are looking at using some of their cash to buy back shares.

In a normal context buybacks – where a company acquires its own shares from investors and then cancels them in order to make its investment statistics look better – are often controversial. By definition, buybacks intend to punish the shareholders who sell and benefit those who don’t, which in RBS’s case involves the taxpayer. Theoretically, the practice boosts earnings per share (helpful for executive share options) at no real risk to the bosses. But that reading assumes the company is buying back shares that are cheap and that the strategy has not been alighted on by a management team that has run out of other ideas. After a terrible 2018, RBS and Lloyds shares are certainly cheaper, but they might not be cheap. As Francis found out at the supermarket, you can suddenly discover you’ve ended up on the losing side of a zero-sum game.

Aside from the news on profits and dividends, RBS trotted out the usual Brexit caveats on Friday and warned that impairments were expected to rise this year. The Bank of England also said earlier this month there was a 25% risk of a UK recession in 2019.

There are, of course, positive arguments about why the shares might soon rise – Brexit doesn’t turn out as badly as many predict, the UK and the EU do a deal, as do the US and China on trade – while banking analysts almost universally advise punters to buy or hold bank shares.

But banking analysts tipped RBS and Lloyds paper all the way in 2018. One day their cheery view will be right and, just like Francis and Havers, they will crow about their financial brilliance. It’s just not immediately obvious that that moment of triumph is imminent

[prewar] 17/2/2019 07:16

Thanks Peter so it seems there aren't 27 countries using the same currency and Jacko's got it wrong? A bit weird that, Europe and the EU are normally his specialist subject so you'd have thought he'd be able to get some of the basics right.

[bargainbob] 17/2/2019 04:25

What to expect on Results day .



Stoned You says the hated EU 100 times .

[k38] 17/2/2019 00:19

Jean Claude-Junker : ... I am for secret, dark debates....he suggested that debates should be held in secret.Why in secret, what do they have to hide? Blackmail, bribery, what else..What kind of democracy is this.Corruption undermines democracy !If we allow people like Jean Claude Junker , which most of them are we deserve nothing but slavery

[tradejunkie2] 16/2/2019 23:48

k38 - 15 Feb 2019 - 16:36:22 - 246415 of 246506 Black Beauty: A Recovering Quadruped - LLOY
62p

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