Thursday, October 20, 2016
Tuesday, October 18, 2016
"Average UK house price was £219,000 in August 2016. This is £17,000 higher than in August 2015 and £3,000 higher than last month" ONS— Simon Gompertz (@gompertz) October 18, 2016
UK house price growth speeded up to 8.4% in August, year on year, up from 8% - that's from govt stats people, ONS— Simon Gompertz (@gompertz) October 18, 2016
Despite dire warnings, pre Brexit, by Project Fear of a property apocalypse in the wake of Brexit, Project Fear has been proven wrong!
Friday, October 14, 2016
This has been inevitable ever since the third bailout, which was inevitable after the second, which..... https://t.co/xawcCxgcKp— (((FrancesCoppola))) (@Frances_Coppola) October 14, 2016
Why oh why does Greece want to stay in the Eurozone?
Wednesday, October 12, 2016
Introductory remarks by Benoît Cœuré, Member of the Executive Board of the ECB, at a public hearing at the European Parliament,
Brussels, 12 October 2016
Sheer fantasy, that will never occur!
Tuesday, October 11, 2016
I fell asleep on my Samsung Note pic.twitter.com/Ljc34N4sqE— RANsquawk (@RANsquawk) October 11, 2016
Samsung can't catch a break with the Galaxy Note 7.
Samsung recalled 2.5 million phones in September after complaints of exploding batteries, and later insisted that all replaced devices were safe.
However, there are now reports that even those phones were catching fire.
Samsung has urged owners of the Galaxy Note 7 to turn off the phone while it investigates new reports of the device catching fire.
The firm also said it would stop all sales of the phone.
The key issue here is not the fact that the phones seem to have a serious technical flaw, but that Samsung dragged its heels wrt denials actions taken when problems were first reported.
It's the lie that gets you!
Monday, October 10, 2016
Deutsche Bank, which has seen its share price fall as much as 22 per cent in recent weeks on fears that it could face a US fine of up to $14bn, has been using the results of the July stress tests as evidence of its healthy finances.
Deutsche’s result was boosted by a special concession agreed by its supervisor, the European Central Bank.
Deutsche’s results included the $4bn proceeds from selling its stake in Chinese lender Hua Xia even though the deal had not been done by the end of 2015, the official cut-off point for transactions to be included.
The ECB claims that it treats all banks equally, yet this is clear evidence that it doesn't.
The ECB knows that if Deutsche Bank goes under then so does Germany and the whole eurozone!
Friday, October 07, 2016
It seems that there was a case of fat fingers or idiotic trading in Asian markets that caused an algorithm to kick in and start dumping Sterling.
Algorithms are all very well, occasionally. However, to rely on them to "manage" trading is foolhardy in the extreme!
Turn the bloody things off and take responsibility for poor trading decisions!
Thursday, October 06, 2016
The Wall Street Journal provides more detail, noting that Deutsche Bank has more Level 3 assets compared with its common equity Tier 1 ratio, a measure of financial strength, than its peers. Its Level 3 assets are estimated as being valued at 72% of its Tier 1 assets. That compares with a 38% average for 12 global banks.
Wednesday, October 05, 2016
The Professional Jockeys Association issued the warning after saying an estimated £200,000 had been stolen from about 30 jockeys across the UK.
The money had been withdrawn over the counter from cashiers, possibly using fraudulent documents, the body added.
The PJA said banks were "unwilling and incapable" of preventing the frauds.
It said the crimes dated back to 2014, when about £50,000 was reportedly stolen from the bank accounts of several riders.
Whilst it may be the case that jockeys (as a percentage of the population) have had a higher rate of bank fraud perpetrated on their accounts, it is not just jockeys that have had money fraudulently removed from their bank accounts. The issue does not just affect jockeys.
Advising jockeys to avoid high street banks is all very well and good, but where are they meant to put their money?
Tuesday, October 04, 2016
Since June 23rd Brexit vote, pound has plunged 13.7%, from (artificial) high of $1.5018 to today's 31-year low of $1.2757. FTSE over 7,000.— Andrew Neil (@afneil) October 4, 2016
I remember the days 31 years ago when the pound plunged new depths, yet here we all are 31 years on.
The world didn't stop spinning then, and it won't now!
Monday, October 03, 2016
Hot on the heels of the unsurprising revelation that AFP's stock rallying report at the end of last week, that a deal had been done between the USA's Department of Justice and Deutsche Bank, was utter bollocks; it transpires that Deutsche Bank suffered a further blow to its image this weekend with a third IT outage in the space of a few months on Saturday "that prevented some customers getting access to their money for a short time."
Today is a bank holiday in Germany. However, that will provide no respite for Deutsche Bank. We can expect more bad news whilst the markets in Germany are closed.
Thursday, September 29, 2016
Deutsche not the only German bank in big trouble: Commerzbank to cut 10,000 jobs, scrap dividend -- in broad restructure of business.— Andrew Neil (@afneil) September 29, 2016
The implosion of Deutsche Bank will have far reaching consequences for both Merkel and the Euro experiment.
As much as Merkel and the German government denies a rescue plan is being put together, the reality is in fact completely the opposite and it will cost Euro are taxpayers big time.
Deutschland über alles!