Wednesday, April 25, 2018
Tuesday, April 24, 2018
Today’s @ons deficit stats show— HM Treasury (@hmtreasury) April 24, 2018
the lowest March borrowing since 2004 👍🏿
the lowest full-year borrowing for over 10 years 📉
We’ve reached a turning point in our economy, with debt forecast to start falling – reducing the burden on future generations. pic.twitter.com/H52FgN8Htp
Monday, April 23, 2018
Capita, which provides a range of public services from collecting the BBC licence fee to recruiting for the British army, is issuing 1m new shares at 70p each — a 34 per cent discount to the theoretical price that the shares should trade at after the rights issue.
The three-for-two rights issue, which will raise £662m after fees to advisers, will be used to reduce Capita’s £1.2bn net debt, fund the company’s restructuring and invest in new technology.
Monday, April 16, 2018
This story is absolutely insane. At first glance, you think "well done, Companies House, at last they're getting serious about the epidemic of fraud enabled by the misuse of British corporations". https://t.co/HSjMDawuyl pic.twitter.com/FiQ1VMkKbv— Oliver Bullough (@OliverBullough) April 15, 2018
Tuesday, April 10, 2018
Monday, April 09, 2018
Russian Stock Market -11.53%— Russian Market (@russian_market) April 9, 2018
EURRUB +2.44% 73.12
USDRUB +2.46% 59.61
Will it stop? pic.twitter.com/Di08vDaRUY
Friday, April 06, 2018
Thursday, April 05, 2018
We are not in a trade war with China, that war was lost many years ago by the foolish, or incompetent, people who represented the U.S. Now we have a Trade Deficit of $500 Billion a year, with Intellectual Property Theft of another $300 Billion. We cannot let this continue!— Donald J. Trump (@realDonaldTrump) April 4, 2018
Wednesday, April 04, 2018
Wednesday, March 28, 2018
The beating of a butterfly's wings......In terms of the Bank of England's view on effects of the Carillion liquidation on the supply chain, the key phrase is 'so far'. Carillion had 11,600 direct sub-contractors (and once you take account of their sub-contractors & suppliers then 25,000 firms will be affected)... pic.twitter.com/XwXlDlyEhV— Noble Francis (@NobleFrancis) March 28, 2018
Thursday, March 22, 2018
ZeroHedge reports that Facebook advertisers have threatened to abandon the platform in the wake of a massive data harvesting scandal which began after it was revealed that an app created by two psychologists - one of whom Facebook employs - gathered data on over 50 million Americans and then sold it to political data firm Cambridge Analytics and several others, who used it without consent.
The scandal is pushing some Facebook advertisers to consider dropping the platform, reports The Times.
ISBA, a British group of advertisers that spend hundreds of millions of pounds a year on Facebook, demanded answers. It is understood that some of its 3,000 brands, which include those of the consumer goods companies Unilever and P&G, will not tolerate association with Facebook if it emerges that users’ data has found its way into the hands of brokers and political campaigners without authorisation. Sources close to the trade body said that if the company’s answers were not satisfactory, advertisers might spend their money elsewhere. ISBA will meet Facebook executives this week.Others, such as Mozilla, have already pulled out, or as it said have "pressed pause" on Facebook advertising.
In a scathing post, Mozilla said that "when Facebook takes stronger action in how it shares customer data, specifically strengthening its default privacy settings for third party apps, we’ll consider returning." Until then, "Mozilla will advertise elsewhere".
Facebook stock currently trades at around $169, down from $183 five days ago.
Tuesday, March 20, 2018
- The Consumer Prices Index including owner occupiers’ housing costs (CPIH) 12-month inflation rate was 2.5% in February 2018, down from 2.7% in January 2018.
- The largest downward contributions to the change in the rate came from transport and food prices, which rose by less than a year ago.
- Falling prices for accommodation services also had a downward effect.
- Rising prices for footwear produced the largest, partially offsetting, upward contribution.
- The Consumer Prices Index (CPI) 12-month rate was 2.7% in February 2018, down from 3.0% in January 2018.
Tuesday, March 13, 2018
He is set to unveil consultations on a single-use plastics tax and a possible tax on the profits of digital giants like Facebook and Google.
He is expected to reveal that tax receipts are covering day-to-day government spending for the first time since the 2008 financial crisis.
There will be no policy announcements or tax and spending measures - they will be held back to the Budget in the autumn - and no photocall outside 11 Downing Street with the chancellor's red box.
I am forced to ask, what is the fucking point of this then?
Monday, March 12, 2018
Tonght's @Channel4@C4Dispatches finds shocking failings at the Financial Ombudsman Service. I was astonished to see what they found - customers complaints must be taken seriously!— Ros Altmann (@rosaltmann) March 12, 2018
Must watch this prog tonight. Have you ever complained about a bank and been turned down by the Financial Ombudsman? You may find out why! pic.twitter.com/p5Qd6Z0G3g— Ros Altmann (@rosaltmann) March 12, 2018
Friday, March 09, 2018
Monday, March 05, 2018
In May’s speech tomorrow she’ll observe that “the bonuses paid to the heads of some of our biggest developers are based not on the number of homes they build but on their profits or share price...that creates a perverse incentive.”— Jim Pickard (@PickardJE) March 4, 2018
This is literally how free markets work.
Friday, March 02, 2018
When a country (USA) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win. Example, when we are down $100 billion with a certain country and they get cute, don’t trade anymore-we win big. It’s easy!— Donald J. Trump (@realDonaldTrump) March 2, 2018
EU COMMISSION SPOKESMAN WINTERSTEIN BRIEFS PRESS IN BRUSSELS— zerohedge (@zerohedge) March 2, 2018
EU SAYS HAS COUNTER-MEASURES READY AGAINST U.S. TARIFFS
EU SAYS STANDS READY TO RESPOND
CHINA MAY TAKE MEASURES TO PROTECT OWN INTERESTS: MOFCOM— zerohedge (@zerohedge) March 2, 2018
All in all, Equifax really fucked up on this by so many measures!Equifax finds additional 2.4 million impacted by 2017 breach #databreach #cybersecurity https://t.co/fy07R61wKZ— Miguel A Menendez (@menendezjaume) March 2, 2018
Wednesday, February 28, 2018
The corporate recovery specialist said that all stores would remain open until further notice.
Tuesday, February 27, 2018
Monday, February 26, 2018
Latvia called emergency meeting of financial authorities this Monday— Jean-Michel Glachant (@JMGlachant) February 26, 2018
in attempt to limit fallout from forced collapse of its third-biggest bank
ABLV, facing allegations from the US of helping North Korea’s missile programme https://t.co/yZ9C4Y5vhJ
Monday, February 19, 2018
An ECB-supervised (repeat, ECB-supervised) Latvian bank is charged in the US with money laundering, the country's central bank governor is detained and now a moratorium is imposed on the bank. https://t.co/Fv7ImojJs5— Patricia Kowsmann (@kowsmann) February 19, 2018
Latvia's financial system is about to implode, and the ECB will be in the shit.
Latvia’s government was meeting in emergency session on Monday after one of the Baltic country’s biggest banks reeled under accusations of busting sanctions on North Korea and the central bank governor was detained by the anti-corruption agency. https://t.co/OuB4oZIiKO pic.twitter.com/mGhDaMKj3E— Russian Market (@russian_market) February 19, 2018
Tuesday, February 13, 2018
- The Consumer Prices Index including owner occupiers’ housing costs (CPIH) 12-month inflation rate was 2.7% in January 2018, unchanged from December 2017.
- The largest downward contribution to change in the rate came from prices for motor fuels, which rose by less than they did a year ago.
- The main upward effect came from prices for a range of recreational and cultural goods and services, in particular, admissions to attractions such as zoos and gardens, for which prices fell by less than they did a year ago.
- The Consumer Prices Index (CPI) 12-month rate was 3.0% in January 2018, unchanged from December 2017.
- From April 2018, publication of these figures will move from Tuesday to Wednesday; the new release dates are available.
Thursday, February 01, 2018
Wednesday, January 31, 2018
Tuesday, January 30, 2018
the head of the Insolvency Service has just told a select committee that Carillion kept such bad records that it had been hard to work out even simple information such as the identify of all its directors— Jim Pickard (@PickardJE) January 30, 2018
As I noted yesterday, Carillion really was shit!
Hadrill rejects accusation from MP that FRC has been "useless" over Carillion. Says "We don't have the ability to look inside the business...more than what is evident from what they publish"— Simon Gompertz (@gompertz) January 30, 2018
Monday, January 29, 2018
The BBC reports that all was not well in the House of Carillion in the years leading up to the collapse of the firm:
Frank Field, chairman of the Work and Pensions Committee said:"Carillion "wriggled out" of payments into its company pension schemes as its troubles grew, while it carried on paying shareholder dividends and bosses' bonuses, say MPs.The Work and Pensions Committee is questioning the way pension investments were managed at the collapsed outsourcing giant.
The schemes overall are in deficit.
But last year contributions to the pension funds were deferred until 2019, to help shore up the firm's finances.
The committee has published a letter from Robin Ellison, chairman of trustees of Carillion's pension scheme, giving an account of the last few years and suggesting they have been left with a funding shortfall of around £990m.
The letter shows that pension trustees were "kept in the dark" about the state of Carillion's finances until late last year, the committee argues, and that dividends and bonuses were paid out at the expense of pension fund contributions."
"It's clear that Carillion has been trying to wriggle out of its obligations to its pensioners for the last 10 years."It seems to me, to use a non technical/financial phrase, that Carillion was a pile of shit run by (and for the benefit of) worms!