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Morning bros..

talkin..

Respect.... Lloyds SP not just a bout the car finance. Prob looking at £2bn , but that well within its scope. Bigger problem is Lloyds is Uk centric ...

Labour trying to play crafty by pushing up minimum wage but as TAV say this is cloaked tax raising exercise with inflation implications. Unless they is lifting the tax thresholds.🤣

Ms Rachel Reeves is reported will change the way the country's debt is calculated to free up room for additional capital spending without breaking existing fiscal rules... Sound a bit like Mr Gordon Brown keeping PFI projects off the National Accounts public sector balance sheet.

RuBob

I has to dash but is a good point.

Even more odd to my thinking is that the scope of the claims may go back to 2007 . This before the FCA even set up...

"Current indications are that it could look back as far as 2007, a number of years before the establishment of the FCA itself in 2013".

https://www.osborneclarke.com/insights/fca-announces-review-uk-motor-finance-commission-arrangements

Hu

You are a wise man that is for sure. Forget the dividend for the moment..

So with the bigger float in the 2018 what was the Sp?

It was 55.88p almost the same as today...

https://uk.investing.com/equities/lloyds-banking-grp-historical-data

So at best the buyback has held the Sp.

Mr Xwave .. Respect

He was saying "The less shares there are in a company the more each Individual share is worth"..

This clearly not being the case.

The market decide what each share worth and with it the Mcap of the business.

Not forget the story 2 yrs ago..

"Couple paid £7,000 a month in benefits left children living in filth with 35 dogs"...

https://www.lbc.co.uk/news/couple-kept-seven-kids-with-35-dogs-in-shocking-repugnant-house/

£84K benefits a year. How much you has to earn to take home that? is got to be at least the £135K ...

So they get the jail and that cost even more...😒😒

I would add this one.

Motor industry already had a few taps from the green push. VW closing three plants and cutting pay by 10%. The car finance could be the final hammer blow. All I am saying not just the banks with a headache to sort and a lot of the jobs on the line..

Xwave

Bros. In the theory that is correct. If the company they do a reverse split that is correct. But given the daily / monthly fluctuations in the market / Sp that never play out that way. not forget with lloyds the free float go down with buyback but Lloyd also issues new shares... Hence some like the buyback other would like that capital used in a different way. Is the way I see it.

So the car finance may go back to 2007 according to some lawyers... Could be a dear one this. Is the ruling not likely to open a whole can of the worms?.

Will anything eventually fall into this ? What difference someone they buy a car on finance or a sofa on finance?

FCA needs to be careful what it wish for... Without credit a lot of people not going to get things.

I must add this one. Been some informative posts this morning.. Make bit of a change that one..🤣🤣🤣

Quick post this one bros.

My dad always says if money can fix the problem and you has the money then is not worth the worry. Is when money not fix the problem things are bad.. Lloyds has plenty of options here once it can work out what the full implications might be. Hopefully updates will give investors that.

I did says that I thought that Lloyds underestimating the implication with the £450million provision. Maybe an updated figure appear soon.👍

We also need to see how this pan out.

What I am not seeing is any mention of the motor manufacturers own finance arms... As an example Ford credit who as far as I know still finance Ford vehicles. I was told a few yrs ago that this was where Ford made most of their money. If true I cannot say.. But the source was an ex management employee.

https://en.wikipedia.org/wiki/Ford_Credit#:~:text=Since%20the%20automotive%20industry%20crisis%20of%202008%E2%80%9310%2C%20Ford,Financial%20%28now%20TD%20Auto%20Finance%29%20by%20Toronto-Dominion%20Bank.

Morning bros.

The day of the judgement it creeps ever closer. All eyes on what is in the red briefcase and how the bond market and how SONIA swap rate react. Some mortgages been creeping the upwards of late so should be interesting this one. Mortgages linked to bond market and bond market rule the financial markets...🤣🤣

Now Ms Reeves how economically experienced is she ? Some doubt on this. Bit of confusion of the net effect of a NI rise on employer or the employee contributions with what she been saying...... The end result is of the course the same...

STP

Is a terrible situation in Middle East for sure. The sight / smell of war never leave you.. Where it go next who knows.

America has a lot to answer for in that region. No wonder the BRICS is on the rise.

I mean't to add.

upshot £3bn wiped off Lloyds value yesterday.

Fatrap

Bros. Good post but with respect I would add this.

Investors profit / loss depend on if they sell and at what price they bought. bUt I know what you is saying...

The £400million is a little shy that one of the provision of £450million which I was asking... Is this ehnough?

Problem maybe that with Mr Nunn going for the lets be cool no major problem approach that the markets may not buy into that and maybe thinking is he is drastically underplaying this? just my opinion that one. Yesterdays ruling not so good and may push the overall cost to much higher levels. Quotes in the press and on various lawyer pages suggest around £1500- £1600 per "client". With an overall cost to the industry of circa £21billion, but obvious that we don't know the total number of claims yet as deadline been and extended.

Its the case of lets watch this space.

As well labour also rattling the investors cage. Imo If the Labour worry the bond markets as Ms Truss had done could be big problem for Sterling.

LLoyds landlord

Morning Bros.

You has the bee in your bonnet over migrants. Excessive immigration of non productive is for sure a problem.

In the Denmrk cost estimate at €475,000. Mr Jenrick he says cost to UK £400,000 each. Source 24th Aug Fullfact.

https://fullfact.org/immigration/asylum-seeker-net-contributions/

So can we carry this figure over to the cost of supporting each Uk citizen who has been on benefits most of their lives?

In addition anyone having state funded elderly care can rack up the £5K a month each...

Looking at the latest figure on the youngsters opting out of work for various reason and the overall cost is staggering.

Somehow Govt need to get everyone working. Less benefits and more money kept from what you earn, but how or the kicking we will be getting on the 30th not be the last...

Jersey

Nailed it bros with that comment.

Results overall down but beat expectations so .. So far market happy. But the EU nations struggling with the Italy looking very fragile....

No increase in the provision for the motor finance. Need to see how that play out but as with the PPI Govt no doubt will be keen to see a lot of new money in the economy.

Ha...£450 is a bit light !!!..Even the true figure of £450million seem a bit optimistic. Just what I am thinking

Lloyds Q3 result this Wednesday..

Thoughts?

Current provision for the car finance at £450. Seem a bit light that one.

"Mr William Chalmers, Chief Financial Officer, will then host a webcast presentation at 9.30am"..

https://www.lloydsbankinggroup.com/investors.html

TFE

Respect

But can you name one PM or Govt that actually improve the Uk?

LTI

Mrs thatcher was a disaster almost from day one...

Govt raised interest rates sharply and had the tough public spending curbs.

A recession followed and unemployment shot up...

Mass council house sell off along with our key infrastructure.

Her oil bounty from the North Sea was simply squandered.

Tens of thousands of miners thrown on the scrap heap along with their communities.

Almost zero investment in hospitals.

Be careful what you is wishing for...

Richie Bros.

My friend he work for MACE. He is always saying offices full of youngsters on the computers. Out on site mostly older guys.

Not sure if you saw this in the BBC news articles. (24th Aug 2024)

The number of 16-24 year-olds not in employment, education or training (Neet) across the UK reached 872,000 in the period April to June 2024, official estimates suggest. 12.2%

In Uk as the article says ..

"A total of 9.4 million, external people are currently economically inactive in the UK. Most of them are students, retired or have caring responsibilities, but about one-fifth of them say they do want a job, according to the Office for Budget Responsibility (OBR)"..

https://www.bbc.co.uk/articles/cz55mjj4rlgo

No work no benefits. Time to kick some butt.

88

For sure but we know all about the Covid. The fraud , the make it up as you go along, the dodgy contracts, the false reporting etc etc.. Plus now some of the longer term effects.

FYI ...The cost is estimated to have been $5 per person to prepare instead of the trillions spent globally and that is from the WEF.

https://www.weforum.org/agenda/2020/10/economic-cost-covid-global-preparedness-monitoring-board/