stagecoach You seem to be saying quite specifically now Lloyds will not do well because it hasn't invested in IT enough. But you don't seem to reference the real situation in a way which suggests you have thought their case through properly, With these things it is always useful to point to the facts and figures. To illustrate what I mean, you said Lloyds like other UK banks has focused only on its balance sheet and not invested in IT since 2008. That suggest you forget or do not realise Lloyds went through the largest banking IT integration in European banking post 2008. It also does use cloud computing in places and exploits all digital channels in use by any other UK bank as far as I know. As for system availability its as solid if not more than any other bank, probably including BOA by the looks of that web site. RBS on the other hand is cited as having big IT risks. No one doubts it would be nice to lavish more money on IT but all prudent shareholders will hope they spend their money wisely, with return on investment the aim. In the main it seems they do that though of course they are not perfect. In business nothing is. The report I linked gives some idea of their spending and the frequent reports on new technology confirm it.
It is very strange that report of underinvestment aimed at shareholders are often produced by people who sell technology or who have friends who do.
As regards MBNA with great respect, its silly to say they should not buy it without qualifying that. It could give them increased opportunities for growth and profit. It depends on what kind of deal they get of course and whether PPI attaches or not and I believe they will make a good decision on it. I suppose even if they don't plan to buy it, going through the motions will put up the price for competitors, and there is a lot of interest.
People who don't believe they have the ability to handle these decisions well probably should not invest though I do agree with that. .
Many companies buy currency forward and will have done so at pre-Brexit rates. Once these deals expire all hell will break loose as the cost of imports soars and fuels inflation.
Remember this is the wrong type of inflation. Fuelled by Sterling's devaluation, it will reduce GDP. The BOE wishes for WAGE inflation (target 2%) which will increase tax revenue and reduce in REAL terms our horrendous debt mountain. DYOR Cheers
Asperger. I realise you weren't saying I'm a pessimist..I think a fair description is a realist. It all seemed to be going fairly well prior to the referendum,I'm just making an observation not de-crying the outcome.
Talking about pessimists or maybe realists.....lol..I wonder how Newchurch is getting on in La Palma ? 18C..sun/cloud the rest of the week and rain Fri-Sat.Sun. I'm looking forward to hearing about the observatory,hope she visits it and stand on the mountainside that will,if what we're told comes about,that will slide into the Atlantic and New York will become an under water attraction.Buy US construction shares..Lol.
Gerry557. Thank you..brekky went very well. The toast was quite easy to do but I've seen my wife do it. Had it the bright,warm summerhouse too.A good start to the day.
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