Member Info for Darth.Trader

Bank of England chief wants lenders to take their own decisions to cut shareholder dividends....
The Bank of England wants to establish a situation in which banks take their own decisions to scrap dividends during economic downturns, Governor Andrew Bailey told CNBC Thursday.

Barclays, Santander, Lloyds, NatWest, Standard Chartered and HSBC agreed in April to scrap dividends following pressure from the central bank to preserve capital in order to help support the economy ahead of the recession caused by the coronavirus pandemic.

The Bank’s Prudential Regulation Authority said at the time that although the decision would mean shareholders being deprived of dividend payments, it would be a precautionary step given the “unique role that banks need to play in supporting the wider economy through a period of economic disruption.”

DYOR

Joblessness in the euro area is set to rise to 8.3% this year and 9.4% in 2021 ,
EU set to Double Dip.....

DYOR

Factbox: EU, UK deadlocked on three issues ahead of mid-Nov deadline in Brexit talks...
https://www.reuters.com/article/us-britain-eu-factbox-idUSKBN27L1E0?taid=5fa40570260cc00001c4da7e&utm_campaign=trueAnthem:+Trending+Content&utm_medium=trueAnthem&utm_source=twitter

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to extend furlough scheme to end of March..

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US Pres Trump Campaign To Make Major Announcement In Las Vegas 11.30 ET (16.30GMT)
DYOR

Bezos sells more than $3 billion worth of Amazon shares..
The sales this week bring his total cash out in 2020 to more than $10 billion so far.

DYOR

Differences remain over trade deal, say UK and EU

The UK and EU have said serious differences remain over a post-Brexit trade deal, as the latest talks came to an end in Brussels.

UK negotiator Lord David Frost said "wide divergences" remained in some areas, despite progress being made.
DYOR

are they buys.....?

DYOR

...so far fail to bridge gaps to secure trade deal
The European Union and Britain have so far failed to reach agreement on three most persistent sticking points in talks, both sides said on Tuesday, suggesting any breakthrough in securing a trade deal is still a way off.
After nearly two weeks of intensified talks to try to strike a deal to protect nearly a trillion dollars of trade from severe disruption, stubborn differences over fisheries, fair competition and settling disputes have yet to be overcome.

Irish Foreign Minister Simon Coveney said time may run out to strike a deal, adding that some progress on safeguarding economic fair play was not enough.

“If there is not a basic set of rules around fair competition... and if there is not a governance structure that can deal with disputes, then in my view there will not be a trade deal,” Coveney told an online conference.

“There is some progress being made in this area but it’s far from concluded yet.”

Any deal should be agreed by Nov. 15 so it can be ratified by the European Parliament before Britain’s standstill transition out of the EU expires at the end of the year.

Businesses hope that the time pressure and a COVID-19 crisis spiralling across much of Europe can focus minds on clinching a deal to avoid chaos in commerce, energy ties and aviation.

But even then, Britain’s government and businesses will not be prepared, the Institute for Government (IfG) think tank said, describing disruption as inevitable in January with or without a deal.

Fisheries, a sector laden with symbolism for Brexit supporters in Britain, is proving an especially tricky problem, with London insisting on annual negotiations on quotas - a demand the EU resists.

“We have not yet found a solution on fisheries,” a spokesman for the EU’s executive European Commission told a news briefing. “We are not there yet. A lot more work remains to be done.”

A spokesman for Prime Minister Boris Johnson said: “We’ll only be able to make progress if the EU accepts the reality that the UK will have the right to control access to its waters.
Read More;
https://www.reuters.com/article/uk-britain-eu-sources-idUSKBN27J1I9?taid=5fa19619260cc00001042275&utm_campaign=trueAnthem:+Trending+Content&utm_medium=trueAnthem&utm_source=twitter

eviking, No i did not as i did not need it....
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"Under the governments decision , there would be very little difference in outcome over the coming months had a lockdown happened in September, October or November. "

complete and utter nonsense, i have immediately family working at the cliff face on this and believe me when i say the Govt had my support when the the first lockdown was announced but since then they have only added to the problem with poor leadership, cummings and other politicians extracting the Micheal where NATIONAL rules are concerned, not to mention the lack of policing, allowing protest marches, uncontrollable raves then we have "eat out to help out", joke...all the time the NHS is under strain...!
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"A balancing act"
it's turned into a very poor, mismanaged and an act of incompetence....

DYOR...

, Group Says.
The largest U.S. banks are less healthy than they appear, boosted by temporary accounting and capital-relief measures as well as massive market support from the Federal Reserve, an advocacy group said.
https://www.bloomberg.com/news/articles/2020-11-02/biggest-u-s-banks-aren-t-as-strong-as-they-appear-group-says
DYOR

Should read " i would NOT rule out........"

"When will it be over and we can do this again?"

https://www.bbc.co.uk/news/health-54661843

I would not rule of covid-19 3rd, 4th waves....DYOR

TP, Yes it's looking grim...

Rosewall, i too think the Govt should have followed the advice as this may well have prevented this lockdown which i dont think will end on the 2nd Dec even though it expires, it will be extended....
Massive mistake on all levels.....
DYOR

Experts see the UK's bounce-back from the coronavirus recession being thrown into reverse in the fourth quarter of the year.
Britain is facing a double-dip downturn and even bigger public debt pile as a new national lockdown looms, economists have warned.

Experts at Deutsche Bank think GDP could shrink by as much as 10% in November.
Other forecasters expect that the fourth quarter as a whole will see a contraction ranging from 1.5% to more than 4%.

With the Treasury's furlough scheme extended, the cost of the crisis to the public purse is also growing - and Citi analysts predict borrowing of more than £400bn for the current financial year.

That would add to the UK's debt pile, which has risen to more than £2trn during the crisis, taking it to more than 100% of GDP for the first time since the 1960s.
Britain suffered its deepest recession on record earlier this year as the first lockdown crushed economic activity.
GDP shrank by 2.5% in the first quarter and 19.8% in the second quarter.

Third quarter figures due next week are expected to show a return to growth though any lingering hopes of a "V-shaped" bounce-back have diminished as case numbers surge again.
The National Institute for Economic and Social Research (NIESR) said on Monday that the announcement of a new lockdown had pushed its fourth quarter forecast negative, to -3.3%.

It also now sees GDP for 2020 as a whole falling by 11-12%, whereas before it had pencilled in a contraction of 10.5%.

The NIESR said the extension of the furlough scheme meant unemployment was likely to be lower than its previous forecast of more than 7% by the end of the year - though adding that it may simply have postponed the increase in joblessness.

Later this week the Bank of England will publish updated economic forecasts in its latest monetary policy report - and there is speculation it could also unleash up to £100bn in further stimulus measures.

In August, the Bank forecast that GDP would shrink by 9.5% this year.

However by September it was already warning that a rise in COVID-19 cases could take a further toll on activity."
DYOR

that will anger Leave voters..

https://www.youtube.com/embed/VkBFxnjUVow
DYOR

Merkel tells Germans they won't be able to have New Year's Eve parties and social contact will be restricted for ALL of the winter to tackle coronavirus..

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"England’s four-week national lockdown could be extended beyond December 2, Michael Gove has warned as scientists said it could last for longer than the first one."

https://www.thetimes.co.uk/edition/news/new-covid-lockdown-in-england-stay-at-home-from-thursday-says-boris-johnson-m2ckr9hd3

DYOR