Wednesday, August 28, 2019

NatWest Site Down

Friday, August 23, 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.

Wednesday, August 21, 2019

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

Monday, August 19, 2019

Thursday, August 15, 2019

We Have Now Entered The Countermeasures Stage of The Trade War

Wednesday, August 14, 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.

Tuesday, August 13, 2019


Friday, August 09, 2019

Thursday, August 08, 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.

Wednesday, August 07, 2019

German Economy Fucked - There Goes The EU!

HSBC Appears To Be In The Shit