Member Info for fleccy

I don't care about the EU, they manipulate to hold their figures down. As an example the French government forces EDF to offer more than a quarter of its production to suppliers at a huge discount on the current wholesale price. The inflation rate in countries like France has been massaged down by state policies, not by being more efficient, so you can't compare France with the UK. My personal opinion is that the UK should forget about Globalisation and look inward toward self sufficiency and let the rest do what they want. I'm passed caring what the EU do as far as economic policy, because they're no longer anything to do with us and hopefully it'll stay that way.

I've written to my MP about this:

"Dear Xxxx

BT were awarded a contract by the EU, and various EU based Telecom companies canvassed the EU, as well as taking legal action, to campaign against awarding the contract to a UK based company, even though BT's subsidiary is based in Belgium and was entitled to bid for the contract, which they won; I've just read that the BT contract has now been cancelled, no doubt leaving BT out of pocket. Since the EU are discriminating against UK companies, simply because they're UK based, shouldn't the UK do the same in relation to EU based entities profiting off the UK taxpayer, through Government contracts and subsidies? It appears that Telefonica had a big hand in this, even though they likely profit from UK Government contracts and subsidies in the UK, through their half ownership of VMO2. I realise that BT is 12% owned by Deutsch Telekom and Patrick Drahi holds a 24.5% stake, but BT is still a UK publicly traded company whereas VMO2 is privately owned with Telefonica having significant control. "

"On a different topic.

As a layperson and only having access to publicly available information, via the internet, it seems to me that we're walked over by others who should treat us better. The US don't appear to treat us well, with Biden almost sneering at us even though we've been their staunchest ally, and over the years various US Presidents and Senators have shown more respect for the Republic of Ireland than they've ever shown to us, Isn't it about time UK Governments started showing more teeth, protecting UK companies more and kicking back against this almost pack instinct to kick the UK by others?

We appear to have become too dependent on others and lost the ability to go it alone, shouldn't Government policy focus on self-sufficiency to protect our national interest? It's what the EU and US appear to be doing in respect of their own national interests. Wouldn't it make sense to produce energy far in excess of our national needs? As cheap energy would lower electricity costs making it desirable for energy intensive industries to invest here, with any excess electricity directed into things like hydrogen production and storage. Cheaper electricity would also enable niche industries, like vertical farming, allowing us to produce more and import less. If cheap energy opens up opportunities for other industries to thrive, why aren't we throwing as much investment into energy production as we can? Since there are many options to make use of any excess energy we may produce. The big question is, why hasn't this been UK policy for years?

Kind Regards"

I also pasted in details from the article and linked to the article in the email, but I didn't see the point of re-pasting them in this thread.

"meanwhile...the EU decided that giving access to sensitive EU data to a non-EU nation was not in the bloc interest"

Indeed you're correct Pokerchips, so lets hope the UK become far more selective over offering contracts to companies where EU based entities hold large controlling interests, like VMO2.

Well I've written a strongly worded email to my MP about it, so I've done my bit to air my grievance. Sooner the EU implodes the better as far as I'm concerned.

The EU can do one as far as I'm concerned, they're just a bunch of protectionist scumbags. It's about time the UK Government started looking at all EU companies with interests in the UK, and cancelling their contracts like the EU have just done to BT in respect of the TESTA contract, which Telefonica had a big part in causing. Telefonica own half of VMO2, so under those circumstances shouldn't VMO2 be banned from any UK Government contracts?

"The European Commission (EC) has withdrawn the contract it awarded to BT for the delivery of the Trans-European Services for Telematics between Administrations (TESTA) service.

A BT spokesperson told TelcoTitans that the operator is now “considering our position in relation to this matter”.

BT went on to express disappointment that a “trusted ICT provider in the EU and a legally separate subsidiary” had been eliminated from the picture, referencing the contract award to BT Global Services Belgium, the Group’s Belgian subsidiary.

BT Global Services Belgium is a 100% subsidiary of BT Group, operating out of offices in Diagem, near the capital.

TESTA is designed to provide the secure exchange of sensitive information between public authorities in European Union (EU) member states. BT was initially awarded the lucrative €458m (£398.1m) contract to manage the platform in January 2022 (BTwatch, #334).

However, the contract, which would see the subsidiary manage the communications of entities such as Europol and the European Defence Agency, has now been annulled after the EC cancelled the entire procurement process.

Legal proceedings had been launched in April by rival bidding partners Telefónica and Indra Sistemas, alleging that BT’s bid was reviewed under a different set of criteria to that used for Telefónica’s proposal. Controversy in the courtroom saw the EC freeze the contract transfer from former provider Deutsche Telekom, with the German incumbent still delivering TESTA since (BTwatch, #344).

When announced last year, the decision to allow a subsidiary with a UK-based parent to manage sensitive EU data flared up a significant amount of political backlash in Brussels. Despite European Commissioner Johannes Hahn previously stating that “subcontractors envisaged in BT Global Services Belgium’s bid are established in the EU”, Renew Europe MEP Sophia in’t Veld had questioned whether a BT subsidiary was capable of delivering the system without input from its parent, given its “modest” size. Some EU telcos indicated a sense of unease over an ostensibly non-EU business running such critical infrastructure and the effect such a move could have on broader EU ambitions for digital sovereignty."

https://www.telcotitans.com/btwatch/bt-loses-out-in-eu-data-exchange-controversy/6665.article?utm_medium=email&utm_campaign=Weekly%20BTwatch%20Weekly&utm_content=Weekly%20BTwatch%20Weekly+CID_0701848421ea7a432a07746c2f29667b&utm_source=Email%20marketing%20software&utm_term=BT%20loses%20out%20in%20EU%20data%20exchange%20controversy

I should hope that the UK Government are now looking at all EU based companies with UK infrastructure contracts and that BT is looking at suing the EU for this. Protectionism should work both ways, Telefonica own half of VMO2, I'd start by banning them from any Government contracts.

According to the RNS they previously held 0 shares in BT, you're confused by 8.A Voting rights. Citigroup are reporting that they've gone from holding no shares to now holding over 5%, they must have confidence in the company. Institutions and big private equity are mopping up UK stocks while prices are low. I'll continue topping up, rather than being spooked out of my UK stocks by low valuations.

"your"

you're lol

"BTC price rising"

Unless your in Australia.

https://www.coindesk.com/markets/2023/05/30/bitcoin-trades-at-a-20-discount-on-binance-australia-following-banking-issues-in-the-country/

I'm not trying to distort anyone's investment, I'm just given my honest opinion. Like I said, no opinion of mine will do anything to affect QBT's share price, just like anything you say about Lloyds won't affect that price. I don't mind sitting on a paper loss, and while the price is low every dividend I reinvest brings the average cost per share down and increases the capital gain when the price turns. As an example based on my current holdings, back in February I was showing a paper gain of over £20,000 with the share price at nearly 54p, a lower price now just means I can buy more with dividends as they land. I don't lose any sleep over going from a paper gain to a paper loss, because the true gain/loss isn't realised until I sell. It amuses me when people liken paper gains/losses to real gains/losses, as they are the most likely to sell at at a loss due to the way their minds work.

Mrhanjob, I am currently sitting on a paper loss in respect of my Lloyds shares to the amount of £17,198.23, or -7.84%, with an average cost per share of 48.99p. I'm expecting another 20% increase in the dividend over the current financial year, to around 2.88p per share, with a total payout of £12,896. The current P/E of Lloyds is around 6 times earnings which is historically low and should it return to 80p again, which is easily doable, my Lloyds shares would be worth £358,243, which would be a capital gain of £138,861, and that doesn't include the accumulated/reinvested dividends I'll be receiving along the way; Would I swop places with you, I don't think so.

So 810,088,859 this month?

What's happening here is a mixture of FOMO and momentum trades. History suggests the price will drop off over the next week or two, without a steady stream of news from QBT, maybe around 1.5/1.6p.

Mrhanjob, opportunity cost can be applied to anything in life and is conceptually pointless; You make a decision and live with the consequences, good or bad. I don't worry about buying at the bottom, or top, sitting on a paper loss, or sitting on a paper gain, I buy when I buy and I sell when I sell, it's as simple as that. Unlike professional traders, I can sit on my investments in perpetuity without being hassled by others to explain my performance, and since I only invest in dividend paying stocks I'm rewarded while sitting on a paper loss. FOMO is also pointless, because more people lose money from that than anything else.

QBT is up over 37% in the last 5 days, for the people who bought low that is unrealised profit until they sell; The decision for those people now, seeing a paper gain, is whether to sell immediately or wait and see if the price rises further, whatever they decide is unlikely to change the price direction so it's pointless 2nd guessing what might have been, whichever way the price goes.

Jambone, change the record:

https://www.youtube.com/watch?v=cqtb6XBBBRc

I reference to your Bitcoin comments, keep kidding yourself that Bitcoin will survive long term. Bitcoin's losing appeal and falling out of fashion, as Addison recent post in reference to Miami 2023 proves.

https://uk.news.yahoo.com/bitcoin-miami-conference-drop-attendance-crypto-094208644.html

""Crypto winter" has been blamed for a 50% drop in attendance at the Bitcoin 2023 conference in Miami."

And a Paper Gain isn't a Capital Gain

Haha Mr Hanjob, I don't have to worry about Lloyds; Banked half the recent divis and the other half, in ISA's, were reinvested into BT and back into Lloyds. The current low prices of UK dividend stocks is a gift that keeps on giving. As far as QBT's recent price rise it's only a profit if you sell, just like I only lose on Lloyds investment if I sell. A paper loss isn't a capital loss,

Patent is currently awaiting re-examination after publication.

https://www.ipo.gov.uk/p-ipsum/Case/PublicationNumber/GB2611321

If this is a Slam Dunk winner, why hasn't Rahul Naik packed his job in at Capital One and put all his energy into QBT, instead of only being listed as an advisor?

What has this got to do with Lloyds?

"Now the High Court has found that two lenders - Shawbrook and Barclays Partner Finance (formerly Clydesdale Financial Services) - breached consumer protection rules because investors did not fully understand the risks they were taking. "