Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Maybe the UK Government should be sanctioned?
Read this from the Guardian. I don’t need to say any more:
“Russia was also among the beneficiaries of UK arms sales – in the last decade, it received £44m of UK arms including ammunition, sniper rifle components and gun silencers, analysis shows.”
https://www.google.com/amp/s/amp.theguardian.com/world/2021/jun/27/17bn-of-uk-arms-sold-to-rights-abusers
If a peace deal is achieved surely VP will want all sanctions lifted as part of any agreement. Although Evraz has been suspended, I think they will be reinstated after the war ends. However, I can’t decide if trading will resume if RA’s sanctions remain in place or could it be that the UK Government can still freeze his Evraz assets/shares/dividends while the company trades on the LSE? Comments welcome.
Honest question. PRIOR to the invasion of Ukraine and I emphasise “PRIOR”. Am I correct in that there would be no problem legally if Evraz had chosen to sell steel to the Russian Military even if they were in the knowledge that it would be used to build tanks? Just as I think it would have been OK to sell steel to the armed forces of the UK, USA etc. prior to any wars?
Fantastic Barclays results! Also:
https://www.google.com/amp/s/www.bbc.co.uk/news/business-57987091.amp
Taken from FT yesterday:
US banks set to return money to shareholders after stress tests
Wall Street to use passing grades as chance to increase stock buybacks and dividends
Analysts say the big banks hold enough capital to return more money to shareholders and still comfortably sit up above regulatory requirements
Analysts say the big banks hold enough capital to return more money to shareholders and still comfortably sit up above regulatory requirements
June 21, 2021 9:00 am by Joshua Franklin in New York
America’s biggest banks will learn the results of their latest stress tests from the US Federal Reserve this week, with a passing grade expected to be a catalyst for billions of dollars in stock buybacks and dividends.
The expectation that banks will return more money to shareholders is a sign of how well the US banking sector has fared during the pandemic. The likes of Goldman Sachs and JPMorgan Chase have been bolstered by government stimulus and buoyant revenues from trading and dealmaking.
“The big banks came into the pandemic looking overcapitalised and after more than a year of no stock buybacks they look even more overcapitalised,” said Jeffery Harte, senior research analyst at Piper Sandler.
“They were buying up a lot of stock before the pandemic and now a year of capital on their balance sheets means we’d expect the pace of that potentially to step up meaningfully,” Harte added.
The Fed capped dividends and banned stock buybacks last year at the outbreak of the Covid-19 pandemic. The central bank loosened some of these restrictions at the start of 2021 but still limited the amount of money banks could return to shareholders to no more than the cumulative profits of the prior four quarters.
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These limits will be pulled back further pending the results of the annual Comprehensive Capital Analysis and Review, known as CCAR and a requirement of the Dodd-Frank post-crisis financial regulations. The results are due Thursday, June 24.
To “pass” CCAR, the 23 banks participating have to demonstrate they have sufficient capital to weather a string of doomsday scenarios and emerge with a minimum amount of capital left over.
These scenarios include a US stock market crash and a steep drop in economic output. There was also a scenario of substantial distress in commercial real estate, a focus given the uncertainty around the pace at which businesses will return to in-office work.
From the tests, the Fed will prescribe for each bank how much high-quality common equity tier one, or CET1, capital in excess of regulatory minimums they need to keep through a so-called stress capital buffer. The CET1 ratio, which is measured against risk-weighted assets, is a crucial benchmark of financial stability.
Bar chart of The six biggest US banks are comfortably above regulatory limits showing Excess capital
Last year was the first time the Fed had taken thi
https://www.google.com/amp/s/amp.ft.com/content/c4f446b1-a71d-4656-a81f-f2bcaf97c9ba
Does anyone know why they didn't opt for drilling the 2nd ST hole (lower depth) before the first ST hole (much greater depth) which was abandoned?
Excuse my ignorance, but could someone please explain what a JORC actually is? I have found a definition which says it's a "Joint Ore Reserves Committee" or an agreed methodology to identify the type, and particulars of a mineral resource, but could someone explain why this would be good for the company to have the last JORC replaced?