Member Info for helloDave

Looks like another 5 % drop yet to go, wriggly bottom on this share

@Laura2022, you know, im more than happy for you and others to get caught by spikes.

@Laura2022, you are playing the game 3 days and 10 moves behind the real money.

@Laura2022, lets see what happens over the next couple of days ..... ;)

@Laura2022, my post on 19 Nov 2024 15:29 : "Shake back to 50 by the looks of it" and then on the 21st Nov the price dropped back to 50.

Calling it again.

Im big for wood (group), however putting out reasoned chat to help folks

I suspect this will drop to 50 one more time the start of next week, get out of the way of the shake

Massive potential here. the initial ruling shows that the industry needs to be clear with commissions, however they have not mis-sold anything and the customers bought the loans as packaged with the total pricing clearly shown.

as a precaution CBG ringfenced money in case, so they have funds ready, and once all this silly is resolved (keep in mind the legal sector are the ones pushing for this as a money grab to replace PPI), they will have cash on hand and a strong business portfolio.,

How are ad revenues doing for ITV, looking at general marketing revenue reports it appears the main money is still going to digital marketing and social media.

Pay outs will be much lower than initially thought, the commissions paid (unlike PPI). where not a separate product bolted on, the commissions where part of the payment plan which the clients agreed to as part of the total package.

Commissions are standard practice across all lending, and the ruling outcome is that they industry needs to be more transparent, which is why they are also suggesting they review other consumer products that use loans/payment schemes.

Martin Lewis and the legal sector made this into a big issue so they could capitalise from it themselves like vultures as PPI is winding down. However PPI and car loan commissions are completely different, hence why the judge came out in favour of Close Brother et al.

The amount they will have to pay out judging by the court documents is low.

And they have started selling car loans again.

So (rocket)

Holders from the start of the year are starting to jump, could see another 5% next week

Wonder how much of a drag affect this will cause:

https://www.independent.co.uk/travel/news-and-advice/flights-price-planes-parts-shortage-cancellations-b2647708.html

And closer to commercialisation, or are the BoD going to do another share placing to have cash on hand to pay their wages?

So you at 50 levels, outflows are increasing as cash moves aboard.

I still firmly believe that for the bigger picture that GW needs to be tough with Amazon and not let their IP be watered down with short term money grabbing thinking. Look at the Rings of Power series, its hated by the traditional and new fanbase, whereas the LOTR films are deeply loved.

Secondly to this, I think its bad that they have let Blackrock into the mix as a holder, everything that Blackrock touches in the creative industry becomes a mess. The force diversity to sell the product to a wide audience and in the process they dilute the uniqueness of a franchise.

The fact is Space Marine 2 has massively opened GW to new audiences, and these new audiences do not want the "modern capitalist woke agenda" affecting GW stories/universe. And GW have always been realistic progressive, and way ahead of the narrow thinking of the woke crew, the Sisters of Battle and Eldar show strong females, the Imperium of Man shows tyrannical government, Chaos shows the pitfalls of monoculture thinking.

This case revolved around the concept of unfair relationships in consumer credit contracts, specifically concerning Payment Protection Insurance (PPI) mis-selling. The key questions were:

Non-disclosure of Commission: Could the non-disclosure of the amount of commission received by the lender for arranging PPI constitute unfairness?

Meaning of "On Behalf Of": What does "on behalf of" mean in the context of Section 140A(1)(c) of the Consumer Credit Act 1974?

The Supreme Court's Decision

Non-disclosure of Commission: The Court ruled that non-disclosure of a significant commission (71.8% in this case) could indeed lead to an unfair relationship, even if regulatory requirements were met. This overturned the previous decision in Harrison v Black Horse Limited.

Meaning of "On Behalf Of": The Court clarified that "on behalf of" refers to the lender's agent or deemed agent. This limits the scope of a lender's liability for the actions of intermediaries.

Implications for Lenders and Borrowers

Lenders:

Lenders are only responsible for their own actions and those of their agents.

Compliance with regulatory requirements is not a definitive defence against unfairness claims.

Transparency regarding commissions and other fees is crucial.

Borrowers:

Non-disclosure of significant commissions can lead to successful claims of unfairness.

The exact threshold for unfairness due to non-disclosure remains unclear.

Remedies for unfairness are uncertain and may vary.

Overall, the decision in Plevin v Paragon has significant implications for the consumer credit industry. It emphasizes the importance of transparency and fairness in lender-borrower relationships, while also limiting the scope of lender liability for the actions of third-party intermediaries.

Expect another attack back to 50 start of next week....

Shorts should start to close now, their little top ups on the 20th to hold down the price while they try to get out.

Trading update for first quarter of its 2025 financial year.

Banking Division:

Strong customer demand and net interest margin.

Resilient credit quality.

Loan book increased slightly, with growth in Commercial offset by repayments in Property and a temporary pause in UK motor finance lending due to a recent court judgment.

Good progress on cost management actions.

Bad debt ratio remained low.

Close Brothers Asset Management (CBAM):

Solid net inflows.

Agreed sale to Oaktree Capital Management, L.P. expected to complete in early 2025.

Winterflood:

Continued to be impacted by unfavourable market conditions.

Group (central functions):

Net expenses increased due to legal and professional fees related to the FCA's review of historical motor finance commission arrangements.

Balance Sheet and Capital:

Stable funding base and strong liquidity position.

Increased CET1 and Total Capital ratios.

Ongoing actions to strengthen capital position, including the sale of CBAM and potential risk transfer of motor finance loans.

Outlook:

Maintaining previously communicated guidance for the 2025 financial year.

Anticipating potential financial impact from measures taken in response to the recent court judgment.

Prioritizing protection of the business franchise.

CEO Leave of Absence:

Adrian Sainsbury remains on medical leave.

Temporary cover arrangements in place.

Court of Appeal's Motor Commissions Judgment:

Group disagrees with the judgment and intends to appeal to the Supreme Court.

Temporarily paused UK motor finance lending, but has resumed a significant portion.

Reviewing documentation and processes to comply with the judgment.

Potential future applicability to other intermediated lending businesses remains unclear.

Analysis:

Close Brothers has delivered a solid performance in the first quarter, despite challenging market conditions and regulatory uncertainties. The Banking division remains strong, with good customer demand and a resilient credit quality. However, the recent court judgment on motor finance commissions has had a significant impact, leading to a temporary pause in lending and increased legal and professional fees.

The group's strong balance sheet and liquidity position provide a solid foundation, and ongoing actions to strengthen its capital position, such as the sale of CBAM, are positive.

We have all see how volatile the market is currently, would expect another 10% drop on this to come

Good News:

- Trading in line with expectations for FY25.

- Like-for-like revenue growth of approximately 5% expected for H1 FY25.

- Growth in UK and continued pricing power in Africa due to FX-driven inflation.

- Lower gross debt expected by end of November 2024.

- Actions taken to mitigate currency volatility impact on Nigerian intercompany loans.

Mixed News:

- Asia Pacific (APAC) region saw a slight decline, with some weakness in Australia & New Zealand offset by improvement in Indonesia.

- Ongoing Developments:

- Sale of St.Tropez is progressing.

- Discussions ongoing for partial or full sale of African business.

Based on the information provided, an analyst might consider this a positive update for PZ Cussons. The company is meeting expectations, showing growth in key regions, and taking steps to improve its financial health. The potential sale of St.Tropez and the African business could be seen as further positive developments, depending on the sale price and the impact on future revenue.