Loans and Finance

Loans and Finance

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News and information about loans, money, debt, finance and business issues.
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Tuesday, June 18, 2019

Facebook's Libra Will End In Tears

Beware any cryptocurrency offerings from a social media player.

The headlines will one day read:

"Facebook hacked, Libra stolen".

Friday, June 07, 2019

Schrödinger's GDP

Monday, June 03, 2019

Take a Little Dip

This will end in tears!

Tuesday, May 28, 2019

The Ghost of Corbyn Spooks Markets


Thursday, May 23, 2019

USA Declares War On Huawei

Deutsche Dumps Trump Right In It!

Wednesday, May 22, 2019

British Steel Goes Bust

Tuesday, May 21, 2019

Britain The New Bangladesh?


According to some "private equity executive" quoted in the FT, Britain (or at the very least London) will become the "new Bangladesh" under a post Brexit Corbyn government.

Not sure if he thinks that's a good or a bad thing?

Monday, May 20, 2019

Google Limits Use of OS On Huawei Phones

Google has limited the use of its Android operating system on Huawei phones in the latest blow to the Chinese firm.


The ban means that new Huawei phones will no longer be able to access certain apps, such as Google Maps and YouTube, and existing phones will not be able to update their Android operating systems.

Thursday, May 16, 2019

China Takes Note!

Black Is Back!

Wednesday, May 15, 2019

Tuesday, May 14, 2019

ONS Labour Market Overview, UK: May 2019

  • The UK employment rate was estimated at 76.1%, higher than for a year earlier (75.6%) and the joint- highest figure on record.
  • The UK unemployment rate was estimated at 3.8%; it has not been lower since October to December 1974.
  • The UK economic inactivity rate was estimated at 20.8%, lower than for a year earlier (21.1%) and close to a record low.
  • Excluding bonuses, average weekly earnings for employees in Great Britain were estimated to have increased by 3.3%, before adjusting for inflation, and by 1.5%, after adjusting for inflation, compared with a year earlier.
  • Including bonuses, average weekly earnings for employees in Great Britain were estimated to have increased by 3.2%, before adjusting for inflation, and by 1.3%, after adjusting for inflation, compared with a year earlier.
Source ONS

Despite Brexit and a truly awful government!

Tuesday, April 30, 2019

Trump and Co Sue Deutsche Bank and Capital One

Monday, April 29, 2019

Deutsche Bank Chairman Favours Execution

Wednesday, April 24, 2019

Apply Here To Become Governor of The Bank of England

Search For Replacement To Carney

Tuesday, April 23, 2019

Sanctions 'R Us

Call me old fashioned, but I am of the view that sanctions can be overused to the point where they harm the country imposing them.

Thursday, April 11, 2019

A London Bridge is Falling Down!

Tuesday, April 09, 2019

Trump Threatens To Impose $11BN Tariffs On Europe

The US is threatening to impose $11bn of tariffs on EU aircraft, cheese and wine in retaliation against Airbus subsidies.

Let's see how this goes then!

Wednesday, April 03, 2019

Little Compensation for WageDay Advance Borrowers

The BBC reports that hundreds of thousands of people who were mis-sold payday loans will receive a fraction of the compensation they are entitled to after WageDay Advance collapsed.

The company had given loans to about 800,000 people but went into administration earlier this year.

In a case that mirrors the demise of Wonga, the company folded after being hit by a wave of compensation claims for mis-sold loans.

Customers are now receiving emails to explain how much they owe or are owed.

However, now the company is in administration, those who have paid off loans but are entitled to compensation have become unsecured creditors. They can only expect a fraction of the full compensation payout.

Flybe Cancels Flights

Tuesday, March 19, 2019

Unemployment Falls To 4%

Despite the best efforts of politicians to destroy the country, unemployment is now below 4% for the first time since 1975.

Monday, March 18, 2019

Deutche Bank Commerzbank Merger - Too Ginormous To Fail....Or Can It?

Deutsche Bank and Commerzbank confirmed on Sunday they were in talks about a merger, prompting labour union concerns about possible job losses and questions from analysts about the merits of a combination.

Germany’s two largest banks issued short statements after separate meetings of their management boards, a person with knowledge of the matter said, indicating a quickening of pace in the merger process, although both also warned that a deal was far from certain.

Size does not grant immunity from failure!

Thursday, March 07, 2019

Greggs Busts Through £1BN Barrier

Greggs stated today that annual sales had broken through £1bn for the first time.

Pre-tax profit last year rose 15% to £82.6m, marking the fifth year in a row that profits have increased.

The firms's shares have almost doubled in value since July last year.

Greggs knows what the market wants and is well savvy at marketing.

Tuesday, March 05, 2019

HSBC Face £150M Lawsuit

By happenstance Ingenious are going into bat against HMRC, over a £1BN film investment scheme.

Monday, March 04, 2019

Huawei Sues Canada

Meng Wanzhou, the chief financial officer of Huawei who is facing an extradition request from the US, has claimed in a lawsuit filed late last week that she was illegally held and interrogated by Canadian officers for three hours before being formally arrested.

Ms Meng was detained at Vancouver International Airport in December while transferring to an onward flight to Mexico. Her case sparked a political furore in China, where she is widely seen as the victim of a political vendetta by the US.

The FT reports that the lawsuit was filed on Friday and distributed to journalists by Ms Meng’s lawyers on Sunday.

It alleges that Canadian officers held her on the pretext of making a routine border and immigration inspection. That allowed them to interrogate her, as well as search her luggage and electronic devices, without affording her the rights to a lawyer and other protections that come into play when a suspect is formally arrested.

The detention was “a deliberate and premeditated effort on the part of the defendant officers to obtain evidence and information from the plaintiff in a manner that they knew constituted serious violations of the plaintiff’s rights”, according to the suit, filed in the Supreme Court of British Columbia.

Monday, February 25, 2019

Brady Steps Down as Chairman of Taveta Investments

The Telegraph reports that Baroness Karren Brady has stepped down from her post as chairman of Taveta, the holding company for Sir Philip Green’s retail empire.

Lady Brady was chairman of Taveta Investments, the company that owns Arcadia Group, which runs Sir Philip’s retail empire, including Topshop, Miss Selfridge and Dorothy Perkins.

Tuesday, February 19, 2019

Honda's Choice - USA vs Japan

Monday, February 18, 2019

Crumbs!

How the hell the internal control systems and auditors didn't spot any of this is beyond me!

Thursday, February 14, 2019

Monday, February 11, 2019

Economy Stagnates As Politicians Fail To Resolve Brexit Uncertainty

Wednesday, February 06, 2019

Interserve Shareholders Wiped Out, Control Handed To Banks

Friday, January 25, 2019

Other Countries Would Kill For China's "Low" Growth

Tuesday, January 22, 2019

UK Employment Hits Record High

The number of people in work in the UK has reached a record high of 32.54 million, latest figures from the Office of National Statistics show.

Unemployment was flat, with a small increase of 8,000 between September and November for a total of 1.37 million.

"The share of the population in work is the highest on record," said David Freeman, ONS head of labour market.

"The share of the workforce looking for work and unable to find it remains at its lowest for over 40 years."

Average earnings excluding bonuses increased by 3.3% in the year to November, as wage rises continued to outpace inflation.

Wednesday, January 16, 2019

Inflation Falls To Lowest Rate in Two Years

UK inflation rate (excluding owner occupiers' housing costs) fell to 2.1% in December, from 2.3% the previous month, according to the Office for National Statistics (ONS).

The Consumer Prices Index including owner occupiers’ housing costs (CPIH) 12-month inflation rate was 2.0% in December 2018, down from 2.2% in November 2018.

The largest downward contributions to change in the 12-month rate came from falls in petrol prices and from air fares, where ticket prices rose between November and December 2018, but by less than a year ago.


Given this and the ongoing Brexit uncertainty there is no way that the Bank of England will raise rates.