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Regulation crippling banks, nothing shareholders didn't already know.

The percentage of fraudulent claims for PPI compensation is enormous.

The scandal of payment protection insurance is a particular niggle. Not that the banks shouldn’t refund where appropriate, but, with the final total expected to hit £50 billion, the compensation process has been massively abused, he claims. ‘It is almost inconceivable to think that £50billion was mis-sold,’ he says.

He thinks the claims management firms lack adequate regulation. ‘This is stimulation of the economy by buying flat-screen televisions. The percentage of fraudulent claims is enormous. We have turned portions of Britain into fraudsters.’

He adds: ‘It was in Government’s interests: consumer spending rose and it weakened the banks. So the Government is complicit here in the decline of the City.’

https://www.dailymail.co.uk/money/news/article-6196981/Regulation-crippling-banks-says-Barclays-chairman-John-McFarlane.html

LONDON (Reuters) - Lloyds Bank <LLOY.L> is looking to set up a third European Union subsidiary in Luxembourg to serve longstanding life insurance customers after Britain quits the bloc, a source told Reuters, in its latest overhaul aimed at Brexit-proofing its business.

The UK's largest mortgage lender is seeking a licence in Luxembourg to ensure continuity of service for customers based in the EU, the source familiar with the matter said.

Initial discussions with regulators in Luxembourg - home to one of Europe's most thriving insurance communities - have already taken place, with further talks planned over coming weeks, the source added.

Lloyds declined to comment.

If its application is successful, Lloyds will have legal bases in Britain, Berlin, Frankfurt and the Duchy, underlining the scale of reorganisation underway at UK-based banks as Brexit draws nearer.

The bank has no plans to relocate UK-based employees to run the subsidiary.

Why is it perceived to be a problem with a single person living in a 3/4 bedroom house?
If they pay their way and can afford, it who gives a monkeys.

Raise them rates!!
The UK inflation rate unexpectedly rose in August to 2.7%, the highest level in six months.

Economists had expected a Consumer Prices Index rate of 2.4%. The pound rose after the data was released by the Office for National Statistics.

Wages are still rising more than inflation, with data last week showing wages, excluding bonuses, grew by 2.9% in the three months to July.

Rising prices for recreational goods, transport and clothing drove the rise.

In July, CPI was 2.5% , which had been the first jump in the index since November.

For all those who berate the posters on here for not specifically writing about Lloyds.

There's now evidence that the world's biggest firms are shaping strategy from news and social media.
With the internet creating a 24-hour news cycle and birthing the ability for everyone to have a voice on social media, it’s now hard for companies to ignore what the public really want. That can be anything from better customer service, to activists pushing for social change across a numbers of areas.

According to a Deloitte Global’s latest inclusive growth survey, first seen by Yahoo Finance UK, over two-thirds of global executives said “external factors like public sentiment and media coverage are either encouraging them to reevaluate current strategies and take new action or add momentum to existing efforts.”

It's finally happened, I know its not 'new' news, Asian markets unmoved but just watch the FTSE react, especially Lloyds.

President Donald Trump on Monday effectively broadsided one of the world's largest trade relationships, announcing plans to proceed with tariffs on another $200 billion in US imports of Chinese goods.

Taken with the $50 billion in tariffs already in place, this means roughly half of everything Americans buy from China -- their largest source for imports -- is now subject to punitive import duties.

Whole industrial sectors stand to feel the effects, including agriculture, manufacturing, textiles and retail.

"verifiable facts" who verifies them JR? I would check up on your source if you come out with statements like that, lol.

I see Lagarde/IMF have been joining project fear mk2. She's lucky she wasn't banged up.

The IMF said there was a "daunting" range of issues still to be dealt with before Brexit.
Lagarde also said the IMF would lower its forecast for global economic growth when it updates its outlook in November.
I can say at this point, without disclosing any numbers, is that clouds on the horizon have not become lighter but darker," she said.

They get paid for this drivel.

You see how hard it is to post something about Lloyds on the Lloyds BB every time you make a comment 2CV.
After only a couple of days you'll having to resort to news that was posted 16 years ago.

A bit like your Brexit posts don't you think? It's all old hat.

All very true A_E_M but with over 30 years as a civil servant surely you must support one political party that aligns most closely with your thoughts.
People should use their vote wisely.

Jamesroo, as requested I've googled it and I don't feel the need to apologise, perhaps a little more research on your part is required.

The stock market has performed twice as well under a Conservative government as it has under Labour, according to performance statistics dating back to 1970.
Over the last 45 years there have been five Conservative governments, five Labour governments, and the current coalition.

Over that time the UK stock market has returned, on average, 16 per cent a year under Conservative rule, compared with 9 per cent under Labour.
The Labour minority government which held power from February to October 1974 presided over a near-50 per cent fall in the UK stock market, just saying

Now every Labour government has left power with the unemployment rate higher than when they were elected. I've no reason to believe that it will be any different if they are ever elected again, if they are gawd help us, and that includes you James.

There ain't none jamesroo. 🤗

"The Stock Market always performs better than under the Conservatives", until you run out of money, then everyone's a looser.
Try telling all the unemployed that Labour will create, at least the stock market had a good run before we fcuked it all up.

As an Irishman abroad you of all people should be wishing that the Brexit talks don't flounder 2CV, that's if you care for your homeland. With all this obfuscation from the EU and Ireland about the border you better get it sorted otherwise you'll have to make your own arrangements for import/export to your beloved EU mainland. If it's a no deal you better start investing in the shipbuilding game.

Ireland in talks to use UK as land bridge for post-Brexit trade.....

Ireland is discussing a special Brexit deal to keep using the UK as a "land bridge" for goods in transit to Dublin without border checks. Carol-Ann O'Keeffe, a senior Irish tax official, explained at a British and Irish Chambers of Commerce conference in Dublin on Thursday that goods from the continent could undergo checks in France, containers could then be sealed and given free passage to Dublin, the Guardian reported

After an intense few days of political debate, today’s all about the economy. European Central Bank President Mario Draghi will explain that risks to euro-area growth have increased. At its first meeting after the summer break, the ECB will blame trade tensions, turmoil in emerging markets and concern about Britain crashing out of the EU without an orderly deal for its tweaked forecasts. The gloomier outlook won’t derail plans to scale back bond purchases next month, though, as policymakers still see inflation edging in on the bank’s 2 percent goal.

https://www.bloomberg.com/news/articles/2018-09-13/brussels-edition-draghi-s-downside-risks

Not content with making European countries poorer with the one size fits all constraints of the Euro, the EU/Juncker now wants to argue that the euro should become the global currency for trade instead of the U.S. dollar in his State of the Union speech this morning.
Why not suggest the Venezuelan bolívar, the end result could be the same.

U.K. and EU Plan Special Summit to Sign Brexit Deal.

The U.K. and the European Union are preparing for a special summit to sign the Brexit deal in November and the meeting could be announced within days, according to people familiar with the matter.

While negotiators still need to resolve key disagreements, the EU is readying to schedule a one-off gathering in mid-November so leaders can formally agree to the terms of the divorce, the people said.

https://www.bloomberg.com/news/articles/2018-09-11/u-k-and-eu-are-said-to-plan-special-summit-to-sign-brexit-deal?srnd=premium-europe

Treacherous he may be but he's a doer, whether you agree with his actions or not.

The overall number of employed only rose by 3000 to 32.397 million. Only 3000 more employed are they complaining about amount, the trend is still upwards.

There were 1.36 million unemployed people, 55,000 fewer than for February to April 2018 and 95,000 fewer than for a year earlier. The unemployment rate was 4.0 percent; it has not been lower since December 1974 to February 1975. That's a result, either they are not signing on or maybe Europeans are going home.

I remember when half a million unemployed was considered peak employment, but in those days we were less crowded.

Any action that reduces the number of MP's gets my vote, same goes for the House of Lords but I don't expect much on either front.
All rhetoric no action, par for the course if you're in that line of business.

This could end up with the Sweden Democrats in government with the Moderates, they are already calling for Lofven to step down.

Sweden Headed for Political Gridlock After Inconclusive Electionweden may face weeks or even months of political gridlock after an inconclusive election result left the biggest Scandinavian economy without a clear candidate to form a government.

Neither the Social Democrat-led coalition of Prime Minister Stefan Lofven nor the opposition Alliance bloc won enough votes to form majority governments.

Sweden is the latest European country in which a populist surge fueled by anti-immigration sentiment is changing the political landscape. Though Lofven has presided over an economic upswing that has fed a rise in employment, Sunday’s vote shows many Swedes were more concerned about tackling a record influx of foreigners after about 600,000 immigrants entered the country over the past five years.

A preliminary count of about 82 percent of electoral districts gave Lofven’s parties 144 seats in the 349-member parliament, and the Alliance 142 seats. The anti-immigration Sweden Democrats, which aren’t part of either bloc, were poised to get about 63 seats, not quite as many as some pre-election polls indicated but significantly better than in 2014.

www.bloomberg.com/news/articles/2018-09-09/sweden-election-too-close-to-call-as-exit-polls-show-dead-heat?srnd=premium-europe