Member Info for hardup

https://www.lloydsbankinggroup.com/assets/pdfs/investors/annual-report/2021/2021-lbg-annual-report.pdf

fleccy
"To my mind, if the job was advertised in the UK, and the employment was offered within the UK, then UK employment law should apply. You can't just throw someone out of a job, without any rights."
What has happened to the 800 P&O crews is tragic, but don't think this is a first! British Shipping Companies have been doing this for decades to cut costs. The agencies that officially employ the seafarers on behalf of the Shipping Companies are all registered offshore. UK Seafarer's have been sold down the river by the UK Government long ago! There is no nationality requirement for working on UK Flagged vessels as long as the crews are certified according to STCW. I worked for 20 years on vessels servicing the offshore oil sector, mostly in the North Sea. Crews on these vessels working out of UK ports working in the North Sea are from all over the world, and most of the vessels are foreign flagged. Yet go to the USA the shipping industry is covered by the "Jones Act" which stipulates all vessels working the offshore sector from US ports must be US Flagged, and crewed by American nationals. A non US flagged vessel can only work there if there are no US flagged vessels capable of doing the work available, but must have American crew. Only if there are no American crew available who can do the job can they take non US Seafarers. Similar regime's are in place for Canada and Australia as well. For all the rhetoric coming from the UK Government over P&O's actions with the 800 crew, the sad reality is they have allowed this to happen for decades, they don't give a toss about UK Seafarers!

Theosus
If the P&O vessels concerned were not UK Flagged then UK Employment Law doe's not apply.

Hard work is trying to keep my wife happy every month.

"Disgraceful, shameful and completely in line with a Tory voter. Scum."
Spoken like a true socialist!.............someone who's got feck all and wants to share it with everyone else!

Brixton
Time to get some choc ices and popcorn, going to be good entertainment sitting back and reading the posts today!

After 19 trading days, buyback complete to date:
Total shares............................................................787,098,855
Cost... .................................................................... £361,343,505.87
Stamp Duty @ 0.5%.............................................. £1,806,717.53
Total cost inclusive of stamp duty... .................... £363,150,223.40
Percentage of £2 billion buyback completed.......18.16%

The cancelled shares to date will save £10,468,414.77 from the Final Dividend payment which goes ex-div on 6th April.

Rishi Sunak on Wednesday offered pain relief to households facing a crippling cost of living crisis, but he banked most of a £ 50bn windfall in public finances as the country enters dark economic times.

The chancellor hopes to use some of that money for pre-election tax cuts, but his allies expect he will have to offer a much bigger household rescue package in the fall, as runaway inflation and higher energy bills bite.

Labor claimed the tax cuts contained in Sunak’s Spring Statement were nowhere near enough to offset a fall in living standards not seen since comparable records began in 1956 and some Tory MPs privately agreed.

The chancellor’s package featured a £ 6bn national insurance cut for 30mn workers and a one-year 5p cut in fuel duty costing £ 2.4bn, which he claimed showed he was “on the side” of struggling families.

But it nevertheless left households facing a significant squeeze in living standards, with official forecasts showing that inflation was likely to peak at a rate close to 9 per cent towards the end of the year.

The cap on domestic energy bills is expected by the independent Office for Budget Responsibility to rise to £ 2,800 in October, while public sector wages are expected to fall far behind inflation.

https://jnews.uk/rishi-sunak-banks-public-finances-windfall-for-pre-election-tax-cut/

DOW, Nasdaq and S&P all closed down around -1.3% last night after another spike in oil prices stoked inflation fears. Asian markets mixed at the moment, some up some down. FTSE Futures currently up, LiveIndex.org +0.48%, IG.COM +0.25%. SP back over 50p today maybe?

Ordinary Shares

Date of purchases: 23 March 2022

Number of ordinary shares purchased: 28,009,257

Highest price paid per share (pence): 50.27

Lowest price paid per share (pence): 49.56

Volume weighted average price paid per share (pence): 49.84

http://www.rns-pdf.londonstockexchange.com/rns/8189F_1-2022-3-23.pdf

"No change to income tac allowance"
NI Threshold raised though by £3000 to £12,750.

"One penny off income tax!"
But not until 2024...........just in time for next General Election!

casapinos
Thanks for the explanation.

Bubble
I missed the RNS issued today. I think that is about Lloyds buying back some of their debt that they are paying interest on? Some of the more knowledgeable members of the board would be able to provide further explanation.

Bubble,
"What's the one in the RNS for £500,000,000 Hardup?"
Not sure what RNS you are referring to?

Lloyds’ share price [LLOY.L] has some way to go before it gets back to pre-pandemic levels. Despite profits bouncing back in 2021 - the bank’s balance sheet was up 462% in pre-tax profits last year compared to 2020 - the stock is still in recovery mode.
Not helping investor sentiment are fears that the Russian-Ukraine conflict will weigh on any post-pandemic recovery. JP Morgan recently cut estimates for Euro banks across the board in the wake of the conflict.

However, the analysts at JP Morgan also expressed a preference for Lloyds, among other Euro banks. With rising interest rates, the banking sector could see stronger bottom lines this year. So, should investors pick up a potentially high-dividend paying stock at a relatively low price?
JP Morgan backs Lloyds, UBS and Deutsche Bank
JPM Morgan slashed earnings estimates for European banks by 14% to 15 % after the war in the Ukraine broke out. The investment bank says that the Russian banking sector is relatively small compared with the EU’s with “the majority of forecast risk’ coming via an ‘economic spillover. Despite scaling back estimates, JPMorgan is still optimistic on Europe’s banking sector, singling out Lloyds, UBS and Deutsche Bank.

Over the two year period, Lloyds share price is up over 53.08% as it continues to recover from the pandemic sell-off. While the rising share price is good news for shareholders, it lags the gains made by UBS [UBSG], Barclays [BARC.L] and Deutsche Bank [DBK] over the same period. Having closed Friday 18 March at 49.14p, Lloyds is still off the 60-63p range that it was trading at between January and February 2020.

Interest rates should help the bottom line
Banks' bottom lines have suffered over the past couple of years as interest rates remained stubbornly low. 2022 will see that change as central banks hike rates to tame inflation.

The Bank of England Monetary Policy Committee voted on 17 March to increase the base rate from 0.50% to 0.75%. The Federal Reserve also increased interest rates in March. The European Central Bank won’t raise interest rates until it has completed its bond buying at the end of the third quarter, though.

Higher interest rates mean that banks can charge more for their credit services. As the UK’s biggest mortgage lender, Lloyds should benefit. German lender Commerzbank expects to see a billion-euro windfall from rising interest rates by 2024.

However, the process of hiking interest rates is a double edged sword as any increase in the cost of living may weaken demand for banking services. Russia’s invasion of Ukraine has also raised concerns that plans to hike interest rates could change as central banks weigh up the conflict’s effect on Europe’s economy. ECB president Christine Lagarde said in February that “the Russia-Ukraine war will have a material impact on economic activity and inflation.”

https://www.cmcmarkets.com/en/opto/lloyds-share-price-singled-out-for-growth-this-year

After 18 trading days, buyback complete to date:
Total shares............................................................759,089,598
Cost... .................................................................... £347,383,692.18
Stamp Duty @ 0.5%.............................................. £1,736,918.46
Total cost inclusive of stamp duty... .................... £349,120,610.64
Percentage of £2 billion buyback completed.......17.46%

The cancelled shares to date will save £10,095,891.65 from the Final Dividend payment which goes ex-div on 6th April.

BOSTON, March 22 (Reuters) - Treasury yields marched higher on Tuesday, bringing U.S. stocks with them, as investors digested the increased likelihood of swift interest rate hikes following hawkish comments from the U.S. Federal Reserve.

The Nasdaq (.IXIC) led Wall Street's main indexes higher, rising nearly 2%, as investors bought the dip in technology stocks, including Apple Inc (AAPL.O), Microsoft Corp (MSFT.O), Amazon.com Inc (AMZN.O), Meta Platforms Inc (FB.O) and Alphabet Inc (GOOGL.O).

The Dow Jones Industrial Average (.DJI) rose 254.87 points, or 0.74%, to 34,807.86 and the S&P 500 (.SPX) gained 50.63 points, or 1.13%, to 4,511.81.

Fed Chair Jerome Powell said on Monday the central bank could move "more aggressively" to raise rates to fight inflation, possibly hiking by more than 25 basis points at one or more meetings this year. read more

The market is pricing in a 72.2% probability that the Fed will hike the fed fund rate 50 basis points when policymakers meet in May, up from a probability of just over 50% on Monday.

At around 2000 GMT, or 4:00 p.m. ET, the U.S. 10-year Treasury yield was at 2.38%, having hit its highest level since 2019 . The 2-year note also ticked up, to yield 2.16%, from 2.13%.

https://www.reuters.com/business/global-markets-wrapup-1-2022-03-22/?

We can only hope Bumble.....lol

Bubble, will it advance from here tomorrow or duck back under 50p? It did take a few efforts before to stay above 50p, lets see tomorrow. Only 11 trading days now to ex-dividend date, need to be 52p + by then to stay above 50p after ex-dividend. All eyes then on half year report 27th July for interim dividend announcement for an idea on the magnitude of a "progressive" dividend growth policy.