Member Info for nomlungu

They have been dumping staff - cannot be a good sign?

'China Property Firms' Turnaround Plans Disappoint, Adding Stress to a $730 Billion Market'

https://www.bloomberg.com/graphics/china-credit-2023-4

Some more detail

mick,

Why did you leave out the Church of England? Justin Welby has been accused of meddling...

Gaz,

No, my understanding is that you are wrong. Less than 5% of Chinese debt is owned offshore. I have recently seen a figure of around $870b in Western bank exposure. Still a problem but nowhere near as bad a problem as they have at home (which is compounded by a rapidly aging and shrinking population).

'Don't the Chinese have newly built cities that are virtually empty.'

Yes; and even worse, they have cities dominated by uncompleted buildings. So the weather will be getting into the concrete and steel and slowly rotting them. In years to come the buildings will have to be demolished. And, even worse for citizens, most of the apartments in these uncompletable buildings will have been bought off plan on mortgages so they now have the debt without the asset.

https://newsnotfound.com/united-kingdom/

Even the pictures are made by AI; source code on Github.

evi,

China is in deep, deep economic woes; they have debt that is so unsustainable it makes the UK and US look like paragons of virtue. The scale of local GOV debt is unknown, but some estimates are that it is well in excess of $10 trillion with little prospect of being repaid.

Most local GOV revenue in China comes from selling land for housing and factories; that golden goose has been slaughtered and eaten. Now there is just the bill to be paid from much reduced (and insufficient) revenues.

The only way out is central GOV printing money and seeing their currency devalue as inflation sets in thanks to the increase in money supply. Taking the Renminbi is fine if you only want to buy Chinese goods; but if those goods are now being made in Vietnam etc, you might be making a serious mistake.

On C4 news... refers to Raab and Civil Servants going to far over Gibraltar.

Number of times Gibraltar mentioned in report = Zero.

"up in smoke"

Do you know he chose a weed joke day to launch? 420 = 20th of April with the way Yanks write the date.

https://en.wikipedia.org/wiki/420_(cannabis_culture)

5000 tonnes not 500k tonnes; 500k would be like trying to launch 50 Eiffel towers at once.

Kwota,

No chance on the 25% according to the RNS:

"The Company's major shareholder, EICR has confirmed to the Directors that it intends to vote or procure votes in favour of the Resolution, in respect of all Ordinary Shares held by it, currently amounting to 157,306,152 Ordinary Shares in aggregate, representing approximately 82.74 per cent. of the issued share capital of the Company. Accordingly, the Directors expect that the Resolution will be passed at the General Meeting."

"After several rounds of reductions, the starting prices of Tesla’s two high-volume models are substantially lower than they were to start the year. The base Model Y is 29% cheaper, and the Model 3 can be had for 15% less."

He has started a price war - will he suffer from the friendly fire?

'after burners'? Were they a teenage upgrade back in the day before turbos became popular? This one only has a turbo being fitted [with an intercooler etc]

https://www.youtube.com/watch?v=RmnUNTJDASk

Did your old Austin catch fire and explode?

https://apnews.com/article/spacex-starship-launch-elon-musk-d9989401e2e07cdfc9753f352e44f6e2

https://www.youtube.com/watch?v=BZ07ZV3kji4&pp

Seems a bum reason to star out those 3 letters?

Melrose - 3 to 1 consolidation and demerger of Dowlais Group

Q1 - is the share price dropping 99% a sign of a good company?
Q2 - If a company has a history of failure followed by dilution, is it wise to ignore the past (especially if the same CEO remains in place)?
Q3 - Why do rampers post positively without addressing concerns raised by seemingly more qualified people? After all, longs who have been influenced by rampers have suffered catastrophic losses.

Staggering - up for auction next month; 240 classic cars

https://www.youtube.com/watch?v=cJq3V0QTWEM

'Sharp is independently wealthy and donates his £160,000 salary for the part-time BBC job to charity.'

£160k for a part-time job? #WTF

https://www.theguardian.com/media/2023/apr/19/richard-sharp-future-bbc-chair-doubt-uncomfortable-report-boris-johnson

"one law for startmer"

It just shows the hypocrisy of the Chancellor uncapping the lifetime pension allowance so he could 'save the NHS' from losing staff who were not prepared to work under putative pension arrangements. If they could make an exception for Starmer then they could make an exception for NHS staff.

Looks like an own goal from Sunak as it just exposes another tax giveaway; I hope the non Tory media pick up on the hypocrisy.