Member Info for BlueGlow

Possible breakout on TRP.

Trading above recent resistance. No news so may be a false signal, looking to close above 0.031.

Hi kenny, thanks, and same to you :)

Hey Tro,

Nevermind the economy, Congrats on TM1 !

Mega rise, well done :)

"S&P Global’s latest flash PMI report, staffing numbers are falling in December, for the third month in a row, as firms react to October’s tax-raising budget. The rate of job shedding across the private sector economy was the fastest for almost four years, led by services companies.

Worryingly, business optimism fell to the lowest level since December 2022, largely due to an ongoing slide in service sector confidence.

Chris Williamson, chief business economist at S&P Global Market Intelligence says:

“Businesses are reporting a triple whammy of gloomy news as 2024 comes to a close, with economic growth stalled, employment slumping and inflation back on the rise.

“Economic growth momentum has been lost since the robust expansion seen earlier in the year, as businesses and households have responded negatively to the new Labour government’s downbeat rhetoric and policies. Business confidence has sunk to a two-year low as companies weigh up a tougher outlook for sales alongside rising costs, notably for staff as a result of changes announced in the Budget. The survey’s price gauges are indicating that inflation is turning higher again.

“Firms are responding to the increase in National Insurance contributions and new regulations around staffing with a marked pull-back in hiring, causing employment to fall in December at the fastest rate since the global financial crisis in 2009 if the pandemic is excluded."

"Rachel Reeves’s inheritance tax raid on family businesses and farms will backfire by costing the Treasury over £1bn more than it makes, economists have said.

A drop in investment caused by the Chancellor slashing tax relief risks outweighing the extra income the Exchequer expects to gain from the changes, according to analysis by CBI Economics.

Its report says the Treasury has “underestimated the impact” of changes to business property relief (BPR), with the majority of family businesses forced to cut investment because of the raid.

Analysts estimate that 125,678 jobs will be lost as a result. Overall, the loss of economic activity will lead to a £2.6bn reduction in income from taxes such as corporation tax, income tax and national insurance over the next five years, the research suggests.

This is much more than the estimated £1.38bn in extra inheritance tax that Ms Reeves hopes to raise from cutting BPR, meaning that the Exchequer will be £1.26bn worse off than under the status quo."

"Power from Britain’s gas-fired plants surged to a record-high after a slump in wind speeds hit generation from renewables.

Gas-fired generation covered 70pc of Britain’s power demand, according to data from the National Energy System Operator (Neso).

By contrast, wind is producing just 5pc of power as the so-called “dunkelflaute” weather phenomenon leaves wind farms idle across Europe."

The International Energy Agency (IEA).

"The Paris-based agency said its expects a 950,000 barrels per day surplus next year - equal to almost 1pc of world output - despite the Opec+ cartel of oil-producing nations extending output cuts to April.

Oil demand growth has been weaker than expected this year in large part because of China."

US strikes Syria ceasefire deal between Kurdish fighters and Turkey-backed rebels:

https://www.telegraph.co.uk/world-news/2024/12/11/us-ceasefire-deal-kurdish-fighters-turkey-rebels/

Random member of the public at the protest.

https://youtu.be/irT6LMniMDs?t=392

GB news knocking it out of the park with their coverage of the protest.

No mention of the event on the BBC news homepage!

Evi, lols.

Hey kenny,

That chap we watch on farming, he is at the protest and gets interviewed.

https://www.youtube.com/watch?v=DATLm_YRVlo

OPEC makes fifth and biggest cut to 2024 oil demand growth forecast.

https://www.reuters.com/business/energy/opec-again-cuts-2024-2025-oil-demand-growth-forecasts-2024-12-11/

Tro,

Gosh. No wonder they dont want to list in the UK.

"The UK Stock Market Now Trails Oman and Malaysia in IPO Rankings

Things are going from bad to worse for London’s IPO market, where less money has been raised this year than on some tiny frontier venues."

https://www.bloomberg.com/news/articles/2024-12-11/uk-stock-market-s-ipo-ranking-now-trails-oman-and-malaysia?srnd=homepage-uk

What could persuade farmers to surrender this land i wonder?

Gov planning another in Anglesey.

"Residents have described plans for a solar farm stretching across an area the size of 1,700 football pitches as “frightening”.

With "young people leaving the area", whilst "the plans have already attracted opposition from some who question the scale of the development, with additional concerns over the loss of so much high quality agricultural land."

https://www.bbc.co.uk/news/articles/cydr6l1n4q6o

Huge solar farm torn to pieces during Storm Darragh.

"Hundreds of panels at the giant 190-acre Porth Wen solar farm in Anglesey, North Wales - only built two years ago - were blown off their mountings, some ripped to shreds.

The site at Llanbadrig, in the north of the island which is owned by French power firm EDF Energy and powers up to 9,500 households, now needs significant repairs.

Elsewhere on the island of Anglesey, blades were sheared off a wind turbine which then reportedly caught fire."

Article includes images of the destruction.

https://www.dailymail.co.uk/news/article-14175033/Storm-Darragh-UKs-Biggest-solar-farm-pieces.html

The title page for the video makes it look as though Putin is one of the guests, lol.

Lols Tro :)

"A string of tax rises imposed by Rachel Reeves have undermined Britain’s ability to stoke a post-Brexit boom in trade, aviation chief Willie Walsh has warned.

Mr Walsh, a former British Airways boss, accused ministers of a “schizophrenic” approach that was causing economic damage.

While Labour was quick to talk up its support for aviation on taking office, he said, a different reality had emerged from measures announced by the Chancellor in her first Budget, including an increase in the air passenger duty (APD) departure tax.

Mr Walsh said penalties facing the industry, which also include a fivefold increase in business rates for airports, as well as the hike in employers’ National Insurance contributions, will limit the scope for airline growth.

He said that was illogical given that flying is vital for Britain’s post-Brexit place in the world, “particularly with the economies that they’ve been talking about doing trade deals with”.

Re Heathrow: "there is next to no chance of a third strip ever winning acceptance at Heathrow." adding that “The cost and the environmental challenge that Heathrow faces are beyond anything that could be achieved. I would rate the prospects at zero percent,” he added.

Mr Walsh added that production of so-called sustainable aviation fuel (SAF) is falling below targeted levels, jeopardising the ability of airlines to cut carbon emissions."