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Barclays Share Chat (BARC)



Share Price: 166.00Bid: 166.00Ask: 166.05Change: 0.00 (0.00%)No Movement on Barclays
Spread: 0.05Spread as %: 0.03%Open: 163.60High: 166.55Low: 163.15Yesterday’s Close: 166.00


Share Discussion for Barclays


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Dannyb2017
Posts: 91
Off Topic
Opinion:No Opinion
Price:166.00
RE: Employment
Today 11:34
I voted Brexit !!

I posted my link because it was an article in the media about Barclays shares
 
Liberalman
Posts: 796
Off Topic
Opinion:No Opinion
Price:166.00
RE: Employment
Today 09:10
Jesus guys. Give us a break. The Brexit thing has happened. Move on. Nothing to see here.
barbedwirekiss
Posts: 1,076
Off Topic
Opinion:No Opinion
Price:166.00
RE: Employment
Today 03:50
> also great news the Govt DOES NOT need the MP`s to vote on Brexit TM can do it without their vote

Yes, Theresa May could invoke Article 50 on her ownsome, using the power of royal prerogative.

One eensy ickle problem with that and it all comes around from a legal case back in 1610 (yes, over 400 years ago!) called 'The case of proclamations' which gave the following decision:

"The King (The Queen, in our case) by his proclamation… cannot change any part of the common law, or statute law, or the customs of the realm. "

In short, royal prerogative cannot be used if it changes or affects any part of UK law.

OK, you say. So what? How does that affect invoking Article 50 and getting the UK out of the EU?

Well if Article 50 is invoked and the Brexit process started then it requires a rewrite of certain parts of the European Communities Act 1972, just not immediately when Article 50 is called but two years later when the UK finally leaves the EU.

So by using royal prerogative to invoke Article 50, you would eventually have to rewrite some of the UK laws as a consequence of the UK no longer being in the EU. As you can't use royal prerogative in a way that could change any UK laws, to invoke Article 50 under royal prerogative is technically "unconstitutional", against the statute of existing uK laws.

So where does that leave us? Basically it means that Theresa May could NOT invoke Article 50 under royal prerogative as to do so would be against the UK constitution!

Ahhh!, you say, but the European Communities Act 1972 would no longer be necessary as we would no longer be in Europe!

Well that would be true at that time. The problem is that you can't just "drop" a law when it is no longer necessary. It has to be repealed by UK government, and that requires a whole motion to repeal it followed by a debate and finally a vote. A vote by who? By the members of the House of Commons and the House of Lords, both of which are currently seen as being majority pro-EU.

So, to sum it up. For Theresa May to be able to invoke Article 50 in a method that is confluent with the UK constitution, the two Houses would have to vote to repeal the European Communities Act 1972 first.

So no quick and easy Brexit there. Sorry chum!

..Oh! And let's not forget that for the UK to leave the EU, the EU parliament also has to vote to allow the UK to leave.. and that vote has to be unanimous!

..and only when the UK has actually called for Article 50 can we start dicussing just what exactly leaving the EU will require.

So, take the money or open the box. You decide.

GLA
mrJimV
Posts: 9,708
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:166.00
Employment
Today 00:05
Thank god for Brexit , get some more Jobs since Brexit , also great news the Govt DOES NOT need the MP`s to vote on Brexit TM can do it without their vote , some on this BB said they need MP`s vote to start article 50 , well they dont .
http://www.dailymail.co.uk/money/index.html Lot of jobs need to be filled , House building booming now , forget that Teleghraph post banks will keep rising if all this good news keeps filtering through
Danny / 5 posts for your Telegraph post what you on .
Dannyb2017
Posts: 91
Off Topic
Opinion:No Opinion
Price:166.00
RE: Bank shares set to stay down
Sat 21:25
This was on the Telegraph this evening
Dannyb2017
Posts: 91
Off Topic
Opinion:No Opinion
Price:166.00
RE: Bank shares set to stay down
Sat 21:25
The share prices of British banks, which have fallen precipitously since the Brexit vote, have little chance of recovering any time soon, according to analysts, who fear an economic slump will hit earnings.
The Bank of England’s decision to chop its interest base rate to a new record low of 0.25pc will also hurt the margins that lenders earn on loans.
Stock prices across the wider market dived in the immediate aftermath of the June 23 referendum, but many have recovered rapidly – the FTSE 100 is within touching distance of its highest ever level, and the more UK-focused FTSE 250 is at record levels.
Click to view : ftse 100 3 month
By contrast the UK-focused banks have performed poorly, and analysts have steadily downgraded their forecasts for earnings and profits.
Royal Bank of Scotland’s shares dived 41pc in the days after the vote, recovering some of that ground as markets calmed, but still leaving the stock languishing at 197p on Friday – down 21pc from its pre-vote level.
Click to view : RBS
Lloyds Banking Group has also made up some lost ground but remains at 58.13p, down 18.2pc on its June 23 price and below the 73.6p bailout price – frustrating bosses who hoped the bank would have been entirely privatised by now.
The other big UK-focused bank is Barclays, whose shares have also underperformed the wider market and are 10.4pc below their June level.
Analysts have cut their forecasts for banks’ earnings, and not raised them despite relatively healthy economic data for July, indicating they remain downbeat on growth. The average forecast for the profits that Barclays will make in 2016 is down 27.3pc since the vote, while revenue predictions are down only 1.2pc.
This indicates that analysts are worried that costs will rise. This may come from an increase in bad loans, for example.
RBS matches the pattern, with forecasts for the loss-making bank's core earnings having been slashed 26.3pc since the vote and revenue predictions trimmed by 3.8pc. For Lloyds, however, profit forecasts are are only 3.4pc lower and revenues forecasts have slipped just 1.4pc.
“The main impact of Brexit on UK banks over our two-year rating horizon will mostly arise through the economic uncertainty over the UK’s future relationship with the EU,” said analyst Dhruv Roy at Standard and Poor’s, which cut its outlook for British banks from stable to negative after the vote.
He said the banks still face legal bills and restructuring costs which also pull down their profits. S&P also expects house prices to fall 2pc next year. “The prospect of interest rates being even lower for even longer, slowing business volumes, and higher credit losses – albeit from low levels – compound these challenges,” he said.
Dannyb2017
Posts: 91
Off Topic
Opinion:No Opinion
Price:166.00
RE: Bank shares set to stay down
Sat 21:24
telegraph.co.uk/business/2016/08/27/bank-shares-set-to-stay-down-in-the-dumps-post-brexit-vote
Dannyb2017
Posts: 91
Off Topic
Opinion:No Opinion
Price:166.00
RE: Bank shares set to stay down
Sat 21:23
Dannyb2017
Posts: 91
Off Topic
Opinion:No Opinion
Price:166.00
Bank shares set to stay down
Sat 21:21
phoenixchi
Posts: 133
Off Topic
Opinion:No Opinion
Price:166.00
RE: 180 tops
Sat 21:14
A great post barbedwirek.

I don't think the history of the U.K has ever seen such a critical decision being taken on so much ignorance. It should never have been put to a vote. A real leader would ignore the vote and tell us not to be so stupid.

As for those who say we are starting to boom outside of the EU. Well, a perfect example of sheer ignorance.

How can any opinion be formed just two months after the vote! FFS, don't let the casino FTSE fool you.

We have kicked ourselves up the bum here and then cut off our foot leaving it stuck where the sun don't shine.

Voting to leave the EU for such ignorant and bigoted reasons will eventually prove to be the most catastrophic thing the UK gas ever done.




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