Member Info for Birdsong

When one considers the huge sum spent on buybacks, and the fact that when this was over £5 for a fair period of time, then, a fiver bought far more than it would now, to see BP share price as low as it is, is just disgusting.

Sadly much of the loss is due to Rosneft loss of income, which will never ever be returned to us, no matter what political situation happens, even if a future PM is bestiess with Mr Putin, for as long as their is a harrowing video or photo from our lefty BBC or other such media, and cash owed here will be used to ease their misery, not ours.

Once upon a time, charity used to be a 'choice' of the donator, now it is imposed upon anyone who has risked their savings to better their lives to sort out their problems, not the worlds woes.

Had my doubts too and said the same thing on here. If you or I were on the board, adding a little more skin may give confidence and also draw in more or keep others from abandoning the ship. Perhaps directors would also be aware such an action will then ensure a very lucrative salary by dragging this out for a few more years, then if such. it would be money well spent.

Also, seems odd that a British group have discovered what is deemed significant wealth in the USA that was oblivious to the Americans. This seems unlikely and open to questions as to why they never researched the potential themselves being hardly short of hi tech, local knowledge, money etc.

Also, should the Brits have discovered what was under the Americans noses, then I wonder that if it is a good as they say it is, the Americans will throw as many obstacles in the way to ensue that they pressure the group to breaking point and keep all profits for themselves, by hampering loans, by imposing rules and laws to ensure that extraction is as costly and long winded as feasible to then get the company bought out for a song as they run out of money waiting.

So I hope that all the above is just irrational fear, but after seeing the share price plunge from many multiples of it's current price, still wonder if my gut feeling was correct. Whilst PM's and Copper may have risen dramatically, unless having any to sell, not in tiny fragments buried withing millions of tons of rock and earth, then the costs are growing but the income is still non existent. Debt is expensive and more so the longer this is dragged out.

My gold Sov is worth £800 ish, but should I choose to grind it into tiny fragments, placing each fragment in a lump of rock, and scatter those rocks over acres and bury it under tons more debris, I doubt you would give me a pound for the license to find it, despite 'certainty it is out there' especially if you had to jump through lengthy hoops to obtain permission and to gain the funds from others when more interested parties to extract the wealth can pull strings harder.

I guess if the new skin is because the board feel certain or more confident funding is coming soon, then we will all be happy and singing from the same hymn sheet, juries out until then from me.

Buy to sell ratios 20:1?

So pray tell, where are all those newly bought shares coming from IF no one is selling them?

Issue being a spider is they often get caught in a web, and slowly devoured by the host then awaiting more victims.

Harleygreen

If you were given the choice of whether to have your bonuses or bank profits taxed at higher levels, either which would more directly effect you, or have the myriad of other large institutional shareholders and a handful of disgruntled pi's hit to fund the wider economy, the choice for directors many of whom move in the same circles as Government ministers is an easy one to call.

Too much uncertainty for a take over bid

FCA consultation closes on December 12

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Two sources estimate compensation cost could be closer to 18-20 billion pounds

By Kirstin Ridley, Phoebe Seers and Tommy Reggiori Wilkes

LONDON, Dec 12 (Reuters) - Compensating British consumers for mis-sold car loans could cost billions of pounds more than regulators have estimated, industry sources say, throwing into doubt plans for payouts in 2026 to resolve one of Britain's most expensive mis-selling scandals.

The Financial Conduct Authority published a consumer compensation proposal in October that it estimated would cost lenders about 11 billion pounds ($14.8 billion), prompting companies such as Lloyds, Barclays and Close Brothers to increase the level of funds they set aside.

But the FCA's methodology for calculating costs, which includes a broader-than-expected definition of what constitutes an unfair loan and a lower-than-expected bar for excessive commissions, has inflated the industry's bill, the sources said, with two floating estimates of closer to 18-20 billion pounds.

Unless the regulator recasts its proposals, it is likely to face a costly and time-consuming legal challenge, the two sources and two other industry figures said, declining to be named because of the sensitivity of the subject.

While the sources say lenders are not expected to make public their estimates, they will raise objections in responses to an FCA consultation that closes on Friday.

The dispute over the scale of the scheme spells uncertainty for lenders and their final provisions. The compensation scheme is also a test for the FCA, under pressure from Britain's Labour government to support economic growth by easing the regulatory burden on financial services.

REGULATOR WANTS TO START PAYOUTS NEXT YEAR

A spokesperson for the regulator, which wants to finalise plans by end-March and start payouts next year, said it had "engaged extensively" through the consultation and that feedback would help it to refine its proposals and ensure the scheme was "fair and robust".

"That's vital if we're to draw a line under this issue, with consumers fairly compensated and a motor finance market continuing to work well," the spokesperson said.

The watchdog wants the industry to pay for inadequately disclosed commissions paid by lenders to motor dealerships and contractual ties between lenders and dealerships that it says incentivised brokers to raise rates on car loans.

The 11 billion pound plan - 8.2 billion in redress and 2.8 billion in costs - is based on 85% of eligible consumers applying for redress over vehicle loans struck by lenders such as Lloyds, Bank of Ireland, Barclays, FirstRand and the finance arms of Toyota, BMW and Volkswagen over a 17-year period to 2024.

Some industry members and lawmakers say that current proposals are unreasonable and inconsistent with a Supreme Court judgment in August, noting the plan's lengthy time period intr

3i (iii) also had directors buy in to the tune of several million after dropping massively. That has yet to flourish so one wonders whether it is just chump change on occasions when directors buy, to then ensure another few years of massive salaries justifying their investment.

Yet perhaps it is more to do with the US wisely attempting to provide mineral and metal to be as home sourced as is feasible should war ravage the world once again.

Who here remembers the days of hope, where groups of eager shareholders sat and waited to count out the tankers leaving the drilling site, only to later discover that it was foul drilling fluid, not oil they were excitedly counting. Now thousands of percent below those hopeful days, but the board has had a good income and life and will continue to do so no doubt.

Certainly making me consider my usual order for prawn balls, seaweed and egg fried this coming weekend. But seeing that everything being sold over Christmas all over the globe, mostly comes from China, I guess my few pounds protest won't count for much. GL all

Not all bad, but take your point. Yet I bought a toaster made there and it was cheaper than two loaves of bread. We need them unless going back to the toasting fork era. Most of the people are polite and pleasant too. Mind in did invest in a gold mine in china, China Gold Mine, CGM and it went broke, how I don't know, as they work hard, think it was robbed or something. Long while ago.

Also, apart from the dangers imagine filling up your tank and going to pay at the kiosk. Even Barry white would sound like Joe Pasquale. And an accidently overly filled tank would risk your motor car floating away like a child's balloon at a carnival. Oil is here for some time yet, diesel and petrol ban on selling pushed back for good reason.

I have held physical PM for several years and watched as it has risen far more than I would have imagined. As WB is supposed to be an investing guru then was slightly concerned over news that he, not I, was bearish on such.

But with inflation and debt, along with shaky or as yet no ceasefires and plenty of sabre rattling, not convinced gold is going anywhere but up . But I am no investing guru, so I listen and voice my concern.

So are we to ignore Buffets view on PM's as a red herring or should we listen as investors?