George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
Never mind potential wrongdoing by motor finance firms There is a lot of concern about this from the dealers’ side. I think dealers want to know whether they are going to be liable for any of this and at the moment nobody knows.
With terms from the dealers such as ‘this is definitely not an investigation, it's an inquiry’ you can see they are very nervous about the whole process. If dealers are deemed liable in any way, some may even be wound up. I'm sure the Financial Ombudsman Service is aware of this, and I'm getting the feeling that's why they'll go after and find the banks liable. Whatever the findings, this time around if the banks are found liable they shouldn't just role over and pay. It needs defending vigorously.
LONDON (Reuters) -British lenders have been told by the Financial Conduct Authority (FCA) to ensure they are adequately prepared to meet the potential costs of customer complaints arising from its review into the motor finance industry.
In a letter to bank bosses on Friday, the watchdog said lenders should assess their ability to meet potential future liablities resulting from any spike in customer complaints.
The watchdog said it planned to set out its next steps in September, but said that some companies were struggling to provide the data it needed and it was prepared to extend its review if necessary.
A judicial review started by Barclays (LON:BARC) against an ombudsman decision on a motor finance complaint had also created uncertainty and could affect the timing of the review, the FCA added.
Lenders should continue to investigate complaints they receive in the meantime so they can be resolved quickly once the review is completed, the watchdog said.
This is written as if this FCA review is a foregone conclusion.
Who else feels safer now after the ECHR ruling
“encompassing a right to effective protection by the State authorities from the serious adverse effects of climate change on lives, health, well-being and quality of life.”
What next? Perhaps we could get protection from government policies resulting in adverse trading conditions against any losses from individual investments
The world's gone mad.
(Reuters) - Bank of England policymaker Megan Greene said interest rate cuts in Britain should remain "a way off" because of the persistence of inflation pressure, which is still more of a threat than in the United States.
Greene said that markets were wrong to expect that the British central bank would cut rates earlier and by more than the Federal Reserve this year, arguing that a later start to policy easing would be better.
"In my view, rate cuts in the UK should still be a way off as well," Greene wrote in a column published in the Financial Times.
"Following surprisingly strong U.S. March CPI inflation, markets now expect the Bank of England will cut rates earlier and by more than the Federal Reserve this year," Greene said.
The next policy decision by the MPC is due on May 9.
Expect more and more ‘slabber’ from the so-called knowledgeable before next month, if nothing else, it keeps them in the financial news.
Lloyds Banking Group plans to cut jobs in risk management after an internal review found the function was a “blocker to our strategic transformation”
The restructuring was outlined in a memo last month from Lloyds’ chief risk officer Stephen Shelley, who said two-thirds of executives believed risk management was blocking progress while “less than half our workforce believe intelligent risk-taking is encouraged”.
The lender was “resetting our approach to risk and controls”, Shelley said in the memo, seen by the Financial Times, adding that “the initial focus is on non-financial risks”. A new model would enable Lloyds to “move at greater pace” with clearer roles and responsibilities, he said.
Loosening Lloyds’ risk controls “could potentially have catastrophic consequences for the future of the bank”, added Brown.
Lloyds is two years in to a £4bn, five-year investment plan to diversify its income away from mortgages towards income streams less dependent on interest rate changes including wealth management and insurance.
The lender, which has about 60,000 staff, has reviewed thousands of middle-management positions across its business in an effort to increase its focus on digital services. About 3,600 people work in the bank’s risk teams.
“I read that professional share tipster malcolm Stacey is now also apparently calling a £1 Share price target for Lloyds bank
When it happens... all on here will claim to have called it from these levels.”
I've chosen 90, 91 and 91.5p for at least the last five years in Meerkats/Asp1 EoY competition. Seems folks and even professional tipsters are finally beginning to take on board the potential here.
But I'll say this only once PP! Hehe 😆
Humza Yousaf is like the tortoise on top of a post
"'You know he didn’t get up there by himself, he definitely doesn’t belong up there, he doesn’t know what to do while he is up there, and you just have to wonder what kind of idiot put him up there in the first place.’
And that just about sums up the SNP.
A funny ol' thing these BB's, everyone getting excited after a decent rally and now with the futures showing negative it appears peeps are really taking an interest.
Up or down, It's still only money, it's not life or death.
A lot of new faces appeared of late, mostly all expert's as to the final outcome, casting views at the rate of two men…Laurel & Hardy that is.
“Time for a top up.”
PortPower
With all your recent posts regarding the Lloyds direction I'm surprised you're not ‘all in’ already. Just goes to show even you're not entirely sure, are you?
But hey, whatever, it's a change from the usual doomsters on this BB.
That reminds me, where's Daft Trader?
“BOE may not move on base rates independently”
Can't see the BoE making any unexpected moves like Switzerland the other week. The resulting change (drop) in exchange rates will upset more than it pleases. But the UK's inflation rate is still @ 3.4%, well above the 2% target.
Bailey, as he has demonstrated, is a follower not a leader.
Just my opinion.
The French Consumer Price Index (CPI) rose by 2.3% in March, its lowest level in two and a half years, according to a preliminary report by the country's statistical office INSEE published on Friday. The figure is down from February's annual inflation rate of 3%.
This reduction is attributed mainly to the policy's being pursued by the UK Prime minister Rishi Sunak and a deceleration in the year-on-year prices of tobacco and food.
PS. You have to take the credit for the positives after being blamed by the warped opposition for all the negatives in the world.
Suck it up.
“StickyToffeTwat” deserves the usual reply..
Fk you, Fk that, and Fk off.
However we mustn't stifle an open forum because without freedom of speech we wouldn't know who the idiots are. But in STP’s case, we all know by now.
So I guess the usual diktat applies, that being the case the following is quite acceptable. Fk you, Fk that, and Fk off.
Enjoy your holiday weekend everyone.
“Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits”
You have to be invested to gain access to company disbursements DT, so that article is probably lost on you, especially where LBG is concerned.🙂
“Don't see anything in the Markets worth jumping on.”
I recently bought a few Halfords (hfd) and have added to a current holding in International Airlines (iag). Bwtfdik.
Just saying.
“British businesses trimmed their plans for staffing and wage increases this month, according to a survey published on Wednesday that suggested April's big increase in the minimum wage is weighing on employers.
It's possible the impending minimum wage rises in April are beginning to come into sharper focus for businesses – especially smaller firms.
Britain's minimum wage will rise by nearly 10% next month, and supermarkets and other retailers that pay staff only slightly more have raised pay ahead of the increase.
The BoE, which last week kept interest rates on hold, has said wage growth remains high despite signs of a slowdown.
The introduction of the minimum wage 25 years ago is the single most successful economic policy in a generation.
The share of workers on low pay - defined as an hourly wage less than two thirds of the median - fell from 22% in 1999 to 9% in 2023.
Relative to typical wages, Britain's minimum wage is now one of the HIGHEST among advanced economies - similar to that in France and South Korea.”
You lucky people, you've never had it so good. That's the Tories for you.
I see the government has now reduced their NatWest stake to below 30% in preparation for an offering of upto 15%.
Best get this sold off before the forthcoming election.
Don't want to leave too many excess funds about, in case labour gets elected, they would only waste it on the feckless.
Rachel Reeves is not the brightest in the box. Her claim to fame, which she keeps reminding us all is that she used to work for the BoE.