Member Info for BlueGlow

DELT, down over 20% today!

No RNS. Placing?

Lols Tro,

Very good :)

Oil Price, Malcy:

"Oil rose by over $4 last week and with WTI expiring the differential stays at around $4. The situation between Russia and Ukraine has taken of from Israel as the leading geopolitic influence but with Iran in the Trump spotlight it won’t be out of the spotlight for long.

With less than a week to go before the full Opec+ meeting on Sunday it seems that the cartel has no chance of increasing production as originally planned. And the Baker Hughes rig count stays quiet, last week overall numbers fell by 1 unit to 583 and in oil it was a rise of 1 rig to 479. "

Hey Trek,

It's not just the NIC rise either.

The 75% relief on business rates is being reduced to 40% - charged on most non-domestic properties, so shops, offices etc.

"The average shop will see business rates jump from £3,589 to £8,613 next April, while costs for pubs will increase from £3,938 to £9,451. Restaurants will see their average business rates bill rise from £5,051 to £12,122, according to commercial real estate intelligence firm Altus Group."

Plus the minimum wage increase.

Plus the workers rights bill - expected to cost an additional £5 billion per year.

Then add the packaging levy - £2 billion per year on retail alone.

Then add the huge NIC increase on top.

Lols.

KGF, B&Q getting smashed, down over 12%.

"DIY chain Kingfisher has blamed the budget for hitting consumer confidence, and revealed that increases to employer national insurance contributions will cost it £31m."

Tro, lols re FXPO.

I dont venture onto other BBs much. Safer in here, lol.

Re Ukraine, yeah, i just found it concerning that there is so little consensus. Doesn't make for a good negotiating position, if it comes to that.

Tro,

Thanks for posting this too.

Thanks Tro,

Yeah, that guy with the beard kept having a pop at Jake Broe.

Jake behaved like a gentleman nevertheless.

Collection of harrowing stories from pensioners struggling in the cold weather after the winter fuel allowance cut:

https://youtu.be/QpbA2lgsmTE?t=204

Includes a farmer unable to heat his home and a lady struggling to afford food.

The presenter is almost in tears.

Tro,

That video you posted with Piers, very good.

But very worrying.

Comparisons are sometimes a little spurious, however:

The treasury has allocated £536 million for overseas agricultural projects.

The treasury expects to raise £520 million from recent tax increases on British farmers.

Likely to annoy some farmers who dont feel that the Gov are on thier side.

Hey Tro,

The sectors least able to shoulder tax increases are probably high street-retail, hospitality, and agriculture.

They are also the sectors worst hit in the Budget!

The 0.7% drop in retail sales across Britain last month are the latest sign that the economy is losing momentum:

"High Street job losses are "inevitable", prices will rise, and shops will close because of tax rises in the Budget and other rising costs, a group of the biggest retailers in the UK is warning.

Tesco, Amazon, Greggs, Next and dozens of other chains are urging the Treasury to reconsider some of the measures."

https://www.bbc.co.uk/news/articles/cp816jrnynyo

"The pound tumbled on Friday after data showed British business output in November shrank for the first time in more than a year, and retail sales also fell by much more than expected in October.

Sterling hit its lowest on the dollar since May, and was last down 0.56% at $1.2517. If future data continues to show economic weakness, the Bank of England may be forced to cut rates more dramatically than markets currently expect."

https://www.reuters.com/markets/currencies/sterling-falls-6-month-low-after-weak-uk-retail-sales-2024-11-22/

"UK private sector is shrinking as firms give 'thumbs down' to the budget:

UK business output is contracting this month for the first time in over a year, as the tax increases announced in last month’s budget hit companies."

"Flash UK PMI Composite Output Index, which tracks activity across the UK economy, has dropped to a 13-month low"

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

The first survey on the health of the economy after the Budget makes for gloomy reading. Businesses have reported falling output for the first time in just over a year while employment has now been cut for two consecutive months."

HH88,

Not at all, i didnt mean to sound brusque in my reply - if i did.

Just in information transfer mode, lol.

HH88,

Here:

https://www.gov.uk/government/statistics/farm-business-income/farm-business-income-by-type-of-farm-in-england-202324

"In 2023/24, 30% of farms failed to make a profit (compared to 17% of farms in 2022/23). However, the proportion was higher for some types, such as cereals, lowland grazing livestock, mixed and horticulture."

An excellent video kenny posted on the subject by a small farm owner, former Labour supporter too.

https://www.youtube.com/watch?v=DfoDw3fQbBg

Typo, "combine" harvester

Hi James,

2023/24, 30% of farms failed to make a profit.

How are they supposed to pay tax?

The threshold for IHT is a joke, a top of the range combined harvester can eclipse the entire allowance.