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Hi Causal,
I am wondering how and when China can get through the Covid-19 epidemic given that its vaccination programme is poor in terms of quantity (a low take up) and quality (using its own vaccines, rather than the proven Western alternatives, such as Pfizer-BioNTech or Moderna)? Letting natural immunity take its course is out of the question, as it would paralyse the healthcare system and the economy.
So China is likely to prove a drag on the world economy and the proce of oil for the foreseeable future...
Charlie156,
If you really do need to make an ad hominem attack, at least get the grammar ccorrect or we shall be left wondering who the "cretin" really is?!
"Your a cretin" (sic)!
That should be 'You are...' or 'You're a...'.
Best not to make needless insults; they add nothing much, frankly.
Tinker,
It is becoming increasingly clear that the system for voting for a Tory Party leader is flawed. The MPs wanted one person to be the leader, the Party members another, immediately undermining the winner. Perhaps the system should go back to how it used to be with the MPs alone deciding? Alternatively, reverse the process, with the members whittling the field down to two and the MPs then selecting the leader?
Meoryou,
Nice report, but please understand that paying down debts does NOT keep profits down. The transaction of using cash to pay off debts is a balance sheet transaction not in the profit and loss account. Please note that such payments are NOT revenue expenses, which would reduce profits, but capital repayments. In fact, if debts are paid off, presumably there will be less interest paid going forward BOOSTING profits!
Meoryou,
Nice report, but please understand that paying down debts does NOT keep profits down. The transaction of using cash to pay off debts is a balance sheet transaction in the balance sheet. Please note that such payments are NOT revenue experts, which would reduce profits, but capital repayments. In fact, if debts are paid off, presumably there will be less interest paid going forward BOOSTING profits!
Clued,
In the big scheme of things, allowing bankers to be paid how their employers want has zero impact on the national economy. Likewise, the cost of getting rid of the 45% tax rate, which we should never have had, is a mere £2bn, which on the national scale hardly registers! It only affects 600,000 taxpayers, the sort that we want to remain in the country, not incentivised to move to other tax jurisdictions.
Any reversal would be economically pointless and political suicide, showing indecision and uncertainty.
As I type, the price of Brent crude oil futures has fallen sharply around 4.5%. It cannot be due to extra supply in the market, so guessing that it is fear in the markets that demand will fall off due to the industrialised world slipping into recession. I should not be at all surprised if a lot of the drop is reversed on Monday.
Jezzoo,
Being dividend payout day should not cause the BP share price to fall. It is not like going ex dividend! In fact, as many re-invest their dividends, you might expect an increase. With sterling weaker today, this should also help the share price. I note that the price of crude oil is down and that must explain it. I do not know if something in the Financial Statement that may have caused such a big fall?
I must be slow! Whilst I realise that the share buybacks of themselves support the present share price, I had not realised that the loss of so much cash from the bank must have the opposite effect, as BP is losing a very valuable asset. Thankfully, cash is being generated heavily currently!