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Slim..As mentioned previously, RR's apparent profit of £300 mill in the first half includes only £38 mill of operatig profit and was largely due to a tax adjustment of £280 mill .While the co. do have the ability to draw on significant funds it is worth looking at the balance sheet from the half year accounts which show ASSETS £28.7, LIABILITIES £33.3 making a NET DEBT of £4.6 billion. As always the company will highlight the good (ish )numbers while hoping nobody notices the bad.
RR's fortunes depend upon a return to long distance air travel and for that to happen next year . I believe it will but IMV it's still a 70:30 prospect not a certainty.

Slim..As mentioned previously, RR's apparent profit of £300 mill in the first half includes only £38 mill of operatig profit and was largely due to a tax adjustment of £280 mill .While the co. do have the ability to draw on significant funds it is worth looking at the balance sheet from the half year accounts which show ASSETS £28.7, LIABILITIES £33.3 making a NET DEBT of £4.6 billion. As always the company will highlight the good (ish )numbers while hoping nobody notices the bad.
RR's fortunes depend upon a return to long distance air travel and for that to happen next year . I believe it will but IMV it's still a 70:30 prospect not a certainty.

Falky if you read before you shouted you would see that I am not comparing them , no more than I am comparing them with WH Smith . I am merely pointing out that the prospects of all three are linked to a significant return to mass flying.
OK ? now please calm down.

Lord c I expect a consolidation in the low cost airline industry , how that occurs is not clear but I think it must , in the short to medium term there is just too much capacity and some airlines will face being swallowed up or going bust . For company directors the former is more palatable and more profitable than the latter! (and the same is of course true for shareholders!)
Easyjet's latest cash raise has to be their last card, I don't think they can tap shareholders nor their bankers again, so they need , more than most, some signs of a return to holiday flying to survive alone. There is also the position of Stelios, who IIRC still holds a 25% share and would almost certainly influnce any major developments.Pushed, I would say Wizz will have another go and sooner rather than later.

Pgro.... RR engines tend to be used on the largest widebody planes which fly the long haul routes, transatlantic, Europe- Asia etc.the most timeous traffic data for these routes is the heathrow monthly figs issued within a short time of the month end .In the absence of any other major news I expect RR share price to start a pick up when the Heathrow figs show clear evidence of growth. I hold here on the basis that it is a matter of when not if, that happens!

As a PS, I have just finished an investment seminar for a few H(ish)NW's and when pressed for investment tips based on a recovery in travel I offerred RR, EZJ, SMWH (note these are not tips, merely comment!!)

As a PS, I have just finished an investment seminar for a few H(ish)NW's and when pressed for investment tips based on a recovery in travel I offerred RR, EZJ, SMWH (note these are not tips, merely comment!!)

I mentioned a few days ago that RR's most important data is the Heathrow flight data, here is August's
https://www.londonstockexchange.com/news-article/market-news/business-and-traffic-commentary-august-2021/15131799

It doesn't need much analysis to see that there is no great recovery in sight.

From RNS today
Rolls-Royce (LSE:RR., ADR:RYCEY) announces the agreed sale of its 23.1% shareholding in AirTanker Holdings Limited to Equitix Investment Management Limited for cash proceeds of £189m

cargo figs ar kmt

Its worth noting that the half year operating profit was only £38 mill , ie just in profit , the bottom line was flattered by financing income ie interest on investment of £83 mill and a tax credit of £280 mill. It is still the company's expressed hope that they will become cash positive in this half, though as covid drags on I suspect that will not be achieved, first half "trading cash flow" was negative £1bill. RR is far from out of the woods yet and still dependant on a significant uplift in long haul flying (ie mainly US:UK).
The most important figures for RR civil aerospace are Heathrow passenger stats.
here they are for JULY '21 (the latest avail)

Passengers 1.5 mill (normal 6-8mill)
flights 16k (normal 38-40k)
cargo 115metric tonnes (normal 125-140mt)
Anyone waitng for a RR SP uplift should watch them

Megan what you say is true of almost ALL the posts on here!!

Brendan when you ask a tricky question don't expect a rush of answers ! BUT I always try to do at least a little bit of research/analysis when someone raises an issue I haven't thought about , in this case though, I had been wondering what the Ni raise would cost LLOY and how significant it might be . So here goes(figures are approx and based on a variety of sources of variable quality !)
LLOY employs about 65k people and I guess their average salary would be in the £40-50k region.if that is true then the total salary costs are of the order of £3-3.5 bill.In the latest accounts for the half to 30/06/2021 thety quote total operating cost of about £8 bill per annum. When I was working and had a fairly large staff I worked on the rule of thumb that said each employee cost me roughly double their salary , so those numbers broadly fit.
Therefore it's not unreasonable to say that each employee less saves LLOY a sum approaching £100k per annum . 1000 less employees would reduce costs by £100 mill which assuming no loss of revenue goes straight through to the bottom line.Those same accounts I quoted above suggest an annual profit for the year of ~£7 bill so my sacked 1000 add about 1.3 % to the profit and if the P/E stayed the same about 1.3 % to the SP , ie those poor souls lose their jobs for less than a penny on the SP!
Incidentally it means that the recent NI increase is a drop in the ocean for LLOY and all other big business, despite the moans coming from their representatives
As ever all are invited to rubbish these numbers if they choose!!

Putting one and one together....

"As a result of the two deals announced on Tuesday, Deutsche Telekom will raise its stake in T-Mobile US by 5.3% to 48.4%, bringing CEO Tim Hoettges closer to his goal of securing direct control over the $170 billion U.S. telecoms operator."
And the suggestion that " something will happen with BT" suggests to me that DT willl use the sale of their BT stake to help to finance a takeover of T-mobile, and simplify their overseas holdings.
To whom they might sell their BT stake remains a mystery.........!!

Putting one and one together....

"As a result of the two deals announced on Tuesday, Deutsche Telekom will raise its stake in T-Mobile US by 5.3% to 48.4%, bringing CEO Tim Hoettges closer to his goal of securing direct control over the $170 billion U.S. telecoms operator."
And the suggestion that " something will happen with BT" suggests to me that DT willl use the sale of their BT stake to help to finance a takeover of T-mobile, and simplify their overseas holdings.
To whom they might sell their BT stake remains a mystery.........!!

To be clear the "NEW levy" will be collected as NI until Inland Revenue sytems can be tweaked to show it on pay statements separately in '23 tax year.

SUFC....the £12500 is related to capital gains, divis are treated (sort of) as income and taxed separately

LTI see p25 of this
ttps://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1015736/Build_Back_Better-_Our_Plan_for_Health_and_Social_Care.pdf

Having read the government statement I offer the following notes on the changes to dividend tax (feel free to disagree , correct ...etc)
At the mo there is no tax due on divis within an ISA or up to 2k per annum per person(that includes your partner )
For basic rate taxpayers the tax on divis above £2k is at 7.5% THIS WILL RISE TO 8.75% from next april
for higher rate taxpayers the current rate is 32.5% THIS will rise to 33.75% from next April . So the wealthy divi earner gets off lightly!!thought the Gov reckons they pay 60% of all divi tax!
Action , make sure all your high divi shares are ISA'd or sell before the XD to collect a capital gain of which £12.5k is tax free.
Comments ,corrections welcome.

senseman , long term holder here, exited twice at 60p