Trump Calls For Negative Interest Rates - #Volfefe

The Federal Reserve should get our interest rates down to ZERO, or less, and we should then start to refinance our debt. INTEREST COST COULD BE BROUGHT WAY DOWN, while at the same time substantially lengthening the term. We have the great currency, power, and balance sheet.....

— Donald J. Trump (@realDonaldTrump) September 11, 2019

....The USA should always be paying the the lowest rate. No Inflation! It is only the naïveté of Jay Powell and the Federal Reserve that doesn’t allow us to do what other countries are already doing. A once in a lifetime opportunity that we are missing because of “Boneheads.”

— Donald J. Trump (@realDonaldTrump) September 11, 2019

NatWest Site Down

⚠️ Our website is currently unavailable. We're working hard getting it back up and running for you.

Online Banking and our mobile app are still working. Sorry if this is causing you problems - we’ll post an update when we have more information. pic.twitter.com/3wBWnjTyOT

— NatWest (@NatWest_Help) August 28, 2019

Eddie Stobart Suspends Shares and Ditches CEO

The BBC reports that Eddie Stobart has suspended trading of its shares and announced that chief executive Alex Laffey will stand down with immediate effect, as the firm looks into an accounting error.

In a statement, the firm said that it also intended to review the group's current dividend policy.

The transport logistics company revealed a £2m discrepancy in its accounts last month.

Sebastien Desreumaux, currently head of iForce, will take over from Mr Laffey.

A review of its statements by new chief financial officer, Anoop Kangits, found that the 2018 adjusted operating profit figure of £55.3m was overstated by about 4%.

Publication of the firm's financial results for the six months to 31 May 2019 has now been delayed to early September.

The firm added that half year profits were likely to be "significantly lower" than suggested in a recent trading update, and that it is "applying a more prudent approach to revenue recognition".

Ironically the company's largest shareholder is troubled fund manager Neil Woodford, who holds a 22.9% stake.

A Sunk Cost Is a Sunk Cost - H2S To Be Scrapped?

"Just because you spent a lot of money on something, should not mean that you just carry on ploughing more and more money into it"

Transport Secretary Grant Shapps says it's possible HS2 rail project could be scrapped, as government review is announcedhttps://t.co/uS6B9WDvuN pic.twitter.com/q6q4tHYQcD

— BBC Politics (@BBCPolitics) August 21, 2019

Stamp Duty Not Being Shifted To Sellers..Apparently!

BBC News - I won't shift stamp duty to sellers, says chancellor https://t.co/QSRMOu8J2p

— Andrew Goodall (@agoodall4) August 19, 2019

We Have Now Entered The Countermeasures Stage of The Trade War

Reuters: #China finance ministry says China must take necessary countermeasures to #US additional tariffs on $300 bln of Chinese goods

— Vincent Lee (@Rover829) August 15, 2019

Economists and Forecasters Are Useless

Inflation in Britain accelerated to 2.1 per cent in July, confounding forecasts for a slowdown.

Economists had expected inflation to drop to 1.9 per cent from 2 per cent in June.

However, official data showed an increase in the Consumer Price Index, driven by rises in the prices of games, toys, hotels, clothing and footwear.

Cretins!

BREAKING Unemployment rises by 31,000 to 31.3m in last three monthshttps://t.co/SzNa5ln8R6 pic.twitter.com/KvQ1tu9hwR

— Mirror Breaking News (@MirrorBreaking_) August 13, 2019

Brexit Impasse Crippling The Economy

0.2% fall in GDP in Q2 2019, following growth of 0.5% in Q1 https://t.co/RWAY7m2xzE pic.twitter.com/2io09bHRRL

— Office for National Statistics (@ONS) August 9, 2019

Muddy Waters Puts The Boot Into Burford

Muddy waters described Burford as a “poor business masquerading as a great one”.

For good measure it noted that "BUR’s governance strictures are laughter-inducing."

The FT reports that Burford has lost £1.7bn of market value over two days. Its shares were down 46 per cent at the close.

German Economy Fucked - There Goes The EU!

German industrial production is collapsing wiping out the last 4 years of growth.

Likely Germany will have a recession 2019Q2 & 2019Q3 negative as weakness is spreading from Automobile to other sectors.

Troubled times for what was the #EU and #Eurozone most sucessful economy. https://t.co/IqnB4kTuVt

— Dilip Shah (@DilipShah_) August 7, 2019

HSBC Appears To Be In The Shit

In the latest Radio Times, by @paullewismoney #HSBCfraud pic.twitter.com/VrUpcCRXWR

— Mr Ethical (@nw_nicholas) August 7, 2019

So the CEO of HSBC was fired yesterday and the rumor is this: the BOE found out that they were lending to the PBOC to prop up the currency. If this is true, this is nuts.

— JoelHeyman (@JoelHeyman) August 6, 2019

Strong and Stable - China Invokes Theresa May

China's Global Times reacts: “The Chinese economy is so stable... that it has given us full confidence to say ‘no’ to compromises against our principles. The constant U.S. rants on how bad China’s economy is tells us that Washington is more anxious than us to reach a deal.” https://t.co/CPO9fez8PV

— Anna Fifield (@annafifield) July 31, 2019

100 Million Capital One Applications Hacked

The FBI has arrested a 33-year-old software engineer in Seattle as part of an investigation into a massive data breach at financial services company Capital One.

Paige A. Thompson, also known by the online handle “erratic,” has been charged with one count of computer fraud and abuse, after an investigation uncovered that a hacker had broken into cloud servers run by Capital One and stole data related to over 100 million credit-card applications.
Exposed information, according to Capital One, included data collected in credit card applications between 2005 and early 2019 such as:

• names
• addresses
• zip codes/postal codes
• phone numbers
• email addresses
• dates of birth
• income

Beyond the credit card application data, the hacker also obtained portions of credit card customer data, including:

• Customer status data, e.g., credit scores, credit limits, balances, payment history, contact information
• Fragments of transaction data from a total of 23 days during 2016, 2017 and 2018

Capital One says that about 140,000 Social Security numbers and approximately 80,000 linked bank account numbers of its secured credit card customers were also breached.

Oh Dear Oh Dear!

Sigh pic.twitter.com/alyPLC0a8O

— Merryn Somerset Webb (@MerrynSW) July 17, 2019