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Showing content with the highest reputation since 03/07/21 in all areas

  1. and @wherebee Staff are not wanting the overtime mainly for stress reasons as I understand it. Currently,we're receiving 50% more calls than the busiest New Years Eve pre covid.Normally for NYE,we'll ahve extra crews on. BackgroundWe have four categories of job,1 to 4.1 being life threatening,4 being a medical minor or hospital transfer. In normal times,I'd take a patient into Resus maybe once every two shifts,maybe less-these are patients with acute life threatening issues.Everyone else either stays home or goes to normal A&E. Currently,we're going to Resus two times a shift(3 the other night).Maybe we're unlucky but with less crews on,it stands to reason.These Cat 1 jobs can be very stressful as people can be near death or sometimes-very rarely thankfully-pass away on the vehicle during transport.Sustaining a pt who's on the edge of life itself,can be very stressful. In between these jobs we're going to patients who have sometimes been waiting fiven to ten hours or more for us, and where the patient may have been on the floor for the whole ten hours. It goes without saying really,that if people are waiting 5-10 hours for a response,by the time we get there ,their condition can often have worsened considerably.I went to a patient the other night who had three chronic issues ongoing anyone of which would have justified me ringing Resus and alerting him in-three.Not just one. One shift last week,we were outside a care home about to alert a pt to Resus and there's a tap at the door and one of the patients in the care home has collapsed.I ditch my crew mate,go in and end up calling for back up crews to get this pt on a strecther and then alerted into Resus.The Dr at the hospital at the hospital was a bit teed off about the poor quality of my hand over but I pointed out that we'd got two pts in there and I was on my own.40 minutes later said Doctor still couldn't work out what was going on with the pt. It's not jsut amublance staff getting frazzled but A&E staff are getting it even worse than us. So that's the snapshot of my worklife at the minute.Hope it explains why people choose to stay home rather than pay 40% tax on their overtime payments-again credit to the thread and @DurhamBornin particular for running this theme.It's coming true.People are genuinely chinning off the overtime to avoid the stress. Young people getting smashed and enjoying life I'm really happy to see
    36 points
  2. Well that's done it 🙈 Just spent the last 2 hours explaining to my oh why I feel the need to buy and wear my first ever crucifix. It all came out, the "vaccinations", WEF, human augmentation, where I think the world is heading and the current war between good and evil that I sense is being played out on a grand scale. The good news is he listened to it all, is still talking to me and doesn't think I'm bonkers! I wish I didn't feel this way and really hope it's all rubbish, but when the evidence is out there, even on your own government's website it's hard to discount it. I think it's opened oh's eyes a bit more to what's going on. Sorry to unload on here but it's the only place that keeps me sane.
    33 points
  3. Amusing Shrinkflation anecdote Bought a few hundred disposable suits we wear for removing azzy, always XXXL as im a big lump. Put one on for a job today and they were that tight i could hardly walk in them. Checked the labels, all XXXL. Popped into the supplier on the way back home to complain. Supplier: Yeah the manufacturer is using less material to cut down on costs as everythings going the roof. They're still the same size though. Me: How the fuck are they the same size? This is now as tight as an XL used to be! Supplier: (Long pause) Cos it's still XXXL. See, it's written on the box. 🤦‍♂️🤦‍♂️🤦‍♂️ I now realise the Spinal Tap "This one goes to 11" scene was based on real life.
    30 points
  4. Back in March. https://www.standard.co.uk/news/uk/gibraltar-covid-vaccination-programme-entire-adult-population-b924942.html Fast forward to today. But it shows it's working !!! Fucking Clown World.
    29 points
  5. @sancho panza its funny you mention falls,because thats what half the calls my partner responds to are.Its when they press their button etc.Usually two respond to a fall because one really struggles to do it well,and not at all for obese people.They are so short staffed they have been sending them on their own for falls.One woman,very very experienced 61 years old pulled her back,but carried on working.Next shift the supervisor phoned her 3 times while she was heading to her list of calls to divert to others.Her attitude was so bad towards her she told her to forget it,she was coming back to the depot then going home,and she did.Shes now on the sick,and i doubt will return,shel do 6 months paid sick and leave. Another woman who was semi skilled phoned in sick she same day,and i doubt she will be back.One younger girl packed in after she had a baby and is only doing 16 hours with a local care firm now,she gets the same money on welfare.The bosses are all working from home and are getting their big salaries for nothing.They are close to retiring though and dont care.The service is close to collapse.My partner stays to build up final salary pension and because the 3 x 12 hour shifts a week suit us as with me not working now we can enjoy the days shes off,but if it gets much worse she will go on the sick herself Jumping into factories,almost every lower paid one around me are wanting people but cant get anyone decent.The youngsters drop shifts all the time,dont turn in,miss night shifts etc.One that supplies Nissan etc wants 50 production ops,but cant get them.Its £11 an hour,but they can get that at Amazon and now be filthy,and lots of nice women to chat up. The coast was full yesterday of people obvious on benefits,you women,probably never worked etc. The government are in for a massive shock.They think they can print instead of tax,but that is going to be removed soon,unless they force the BOE. There is simply not enough reward for work,and worse not enough difference between working and a single mother with two kids on welfare.Furlough etc has opened peoples eyes to how much they are giving up of their life for little or no reward.
    29 points
  6. Facebook: David Gregory Now let’s take a second or two to digest this... “ME: UK gov, should I get vaccinated if I already had Covid? UK gov: “Yes, you should be vaccinated regardless of whether you already had C0VID-19. That’s because experts do not yet know how long you are protected from getting sick again after recovering from C0VID-19.” ME: Oh, okay, we don’t know how long natural immunity lasts. Got it. So, how long does vaccine-induced immunity last? Uk gov: “There is still a lot we are learning about C0VID-l9 vaccines and we are constantly reviewing evidence and updating guidance. We don’t know how long protection lasts for those who are vaccinated.” Me: Okay … but wait a second. I thought you said the reason I need the vaccine was because we don’t know how long my natural immunity lasts, but it seems like you’re saying we ALSO don’t know how long vaccine immunity lasts either. So, how exactly is the vaccine immunity better than my natural immunity? UK gov: … Me: Uh … alright. But, haven’t there been a bunch of studies suggesting that natural immunity could last for years or decades? UK gov: Yes. Years, maybe even decades, according to a new study. ME: Ah. So natural immunity might last longer than vaccine immunity? Uk gov: Possibly. You never know. ME: Okay. If I get the vaccine, does that mean I won’t get sick? Uk gov: Nope. We are just now entering a seasonal spike and about half of our infections and hospital admissions are vaccinated people. ME: is this true? Are there a lot of people in the U.K. catching Covid after getting the jab? David Javid: Over 60% ME: Oh, okay. Hmm. Well, if I can still get sick after I get the vaccine, how is it helping me? Uk gov: We never said you wouldn’t get sick. We said it would reduce your chances of serious illness or death. ME: Oh, sorry. Alright, exactly how much does it reduce my chance of serious illness or death. Uk gov: We don’t know “exactly, we think we've saved over 50,000 lives, but we haven't got any evidence of this. ME: Oh. Then what’s your best estimate for how much risk reduction there is? Uk gov: We don’t know, okay? Next question. ME: Um, if I’m healthy and don’t want the vaccine, is there any reason I should get it? Uk gov: Yes, for the collective and to be allowed to dance at a night club (for now) ME: How does the collective benefit from me getting vaccinated? Uk gov: Because you could spread the virus to someone else who might get sick and die. ME: Can a vaccinated person spread the virus to someone else? Uk gov: Yes. ME: So if I get vaccinated, I could still spread the virus to someone else? Uk gov: Yes. ME: But I thought you just said, the REASON I should get vaccinated was to prevent me spreading the virus? How does that make sense if I can still catch Covid and spread it after getting the vaccine? Uk gov: Never mind that. The other thing is, if you stay unvaccinated, there’s a chance the virus could possibly mutate into a strain that escapes the vaccine’s protection, putting all vaccinated people at risk. ME: So the vaccine stops the virus from mutating? Uk gov: No. ME: So it can still mutate in vaccinated people? Uk gov: Yes. ME: Sorry but this seems confusing. If the vaccine doesn’t stop mutations, and it doesn’t stop infections, then how does me getting vaccinated help prevent a more deadly strain from evolving to escape the vaccine? Uk gov: You aren’t listening, okay? The bottom line is: as long as you are unvaccinated, you pose a threat to vaccinated people. ME: But what KIND of threat?? Uk gov: The threat that they could get a serious case of Covid and possibly die. ME: My brain hurts. Didn’t you JUST say that the vaccine doesn’t keep people from catching Covid, but prevents a serious case or dying? Now it seems like you’re saying vaccinated people can still easily die from Covid even after they got the vaccine just by running into an unvaccinated person! Which is it?? Uk gov: Your just obviously an anti-vaxxer! ME: Wait! I just want to make sure I understand all this. So, even if I ALREADY had Covid, I should STILL get vaccinated, because we don’t know how long natural immunity lasts, and we also don’t know how long vaccine immunity lasts. And I should get the vaccine to keep a vaccinated person from catching Covid from me, but even if I get the vaccine, I can give it to the vaccinated person anyways. And, the other vaccinated person can still easily catch a serious case of Covid from me and die. Do I have all that right?" Is logical thinking now a fringe activity?
    27 points
  7. This is a very good Twitter thread about the amount of shit the media and Governments have lied and manipulated us with the last few years Inc Brexit, Trump, Russia and more. It's really worth reminding us all what they are capable of
    26 points
  8. Hi All, Meant to post back in December to thank foks and introduce myself. - but been caught up in the Covid forum. So I'm a long time Lurker to the basement. About 3.5 years ago I noticed that there were signs in the media that reminded me of 2006-7 and (The increase in personal debt and increase in house prices etc) Dissatisfaction with the mainstream narrative meant I started looking for something more .. nutritional! The Money saving expert forum led me to TOS and ultimatly stumbling accross the original thread an as a result Ive been following the last 3.5 years, with fascination. Like many long time lurkers I feel I dont have much to contribute, but as many have voiced - I have learnt a lot. Not just from the discussion/views and links posted here, but also from getting some books and self study so i can understand the jargon used within the financial/business world. In March last year I finaly plucked up the courage to get some "skin in the game" and opened an ISA with HL. Over the last 16 months have laddered into oil and Telco stocks and watched and wondered and looked at what causes the short term fluctuations in the stock market. I appreciate that feeling of having your investments in the "red" but try see it as the next ladder down oppertunity and the view it doesent matter as I am not (planning to) sell for another 4 years. Durhamborn's and others talk of ignoring the noise and looking at the big picture has been a sound mindset, particualry for a novice invester. There are 2 things i can contribute Macrovoices - I think it ws 3 weeks ago, Vickor Shvets seemed to be bang on what Durhamborn has been saying in terms of deflation/inflation and change. https://www.macrovoices.com/989-macrovoices-279-viktor-shvets-the-inflation-deflation-pendulum It was so interesting - I bought his book and will post in the Library when Ive finished, Having beeing following the covid thread since the beginning - I think that Covid/fiscal policy and the shift to digital currency are totaly linked. The Fiat collapse that may happen in the next decade is now just a matter of time. There are a lot of thread on this forum that are interlinked. Thanks for the open discussion and sharing of Ideas.
    26 points
  9. One of my work colleagues has tested positive for Covid. Double vaccinated, female, 48 years old, slim, decent legs, nice tits, face a bit leathery. Complaining of loss of taste, coughing, sneezing, aching muscles, headaches, painful sinus, throat soreness, lethargy (no change there then ) painful tongue pain (like licking PP3 battery terminals ) and nausea. She is grateful for her vaccines and said she dreads to think how sick she would have been otherwise.
    24 points
  10. I have not posted for a while. I am astounded at how this whole thing is playing out. The virus, the masks, the social distancing, the lockdowns, and then the vaccine….and associated legislation that has been pushed on society ……and the path we are heading down. This will all end in tears. Whose …. ? I am not too sure yet. Gibraltar …. It was the canary in the coal mine for me….. March 18th 2021: August 2nd 2021: Gibraltar and Israel - tells me everything I need to know. I still can’t understand why 99% of the population are ‘blind’ to this? Don’t even think about having one of those vaccines.
    23 points
  11. https://www.dailymail.co.uk/money/markets/article-9752431/Bosses-say-Britains-entitled-young-wont-mop-floors.html Why work? They import millions,then they pay those millions tax credits.Then they pay the council workers etc with their BTL housing benefits for those millions.Young decent Brits trying to get on,work,buy a home fucked over.Now the cycle changes.Tell them to fuck off,im not working for that,whats the point. There is zero difference in the UK earning £400 a week or nothing because they reward scroungers at every point so now they can reap that.Welcome to the reflation. Just wait until the BOE is forced to stop QE,i think round October,then the big structural deficits emerge and they cant finance them.
    23 points
  12. A thread to post Neil Oliver articles or video clips. What a top man. Getting lots of criticism, again, for what he says in this latest offering but willing to speak out. Common sense in spades.
    21 points
  13. Let him run his fucking mouth. Videos like that don't go away and people will remember he's said that especailly if sentiment changes at some point in the future.
    21 points
  14. Thats right,and the more they become the market for government debt and push out private capital the more that capital looks for another home. Its the great irony of our system.The left pushes for higher and higher spending,but higher deficits simply mean higher asset values,so the more assets you own the more you make from government running a deficit.That is of course when you have over a billion Chinese workers and Eastern Europe to employ to do the work. The great macro pincer movement is now happening though where instead of simply pushing up asset values deficits push up inflation.The main thrust of this thread and actually my work the last several years,was that the backbone of the economy couldnt produce enough for the demands placed on it.Worse,as the cycle develops we are seeing production removed from the economy,not added,from massive increase in Chinese costs to workers shrugging their shoulders to crap pay and conditions. Longer term the CBs would love a digital currency and to do away with cash because it means they could move to negative interest rates.Forcing you to spend or invest so government can catch the tax.The only thing that stops them is the fact everyone would simply withdraw their money and keep as cash. Of course at that point China or Russia could launch their own crypto backed by gold and / or silver and the change in currency values would see a massive wealth transfer to them,systemic. Notice today as well Reckitt getting hit hard.Of course lots of excuses etc,but inflation will be starting to hit them.
    20 points
  15. Utter cunt.Iv been double jabbed,but il never show anyone any passport.Noticed today in Lidl half the shelves empty,and well over half now not wearing masks.Woman on the till didnt have one on,and i said it was lovely to see her pretty face again.Nobody will enforce it around here i never scanned in any pub,just pointed phone at the scan thing and pretended.Barmaids etc couldnt give shit.Track and trace hounded my dad to fill in the app when he tested positive,he said he didnt have one,so they phoned,he told them he couldnt remember anything or where he had been but Mrs Thatcher would sort things out and told them zero names.Almost everyone is deleting the NHS app now but a lot of people are also selling pings who test positive.Before they fill in the crap they are letting people scan phones etc so that they can then get 10 days off work or £500 off the government.Only people i see wearing a mask now are boomers no doubt scared to die and lose their huge DB pensions.
    20 points
  16. What matters is that Covid etc is only the trigger for the end of the last cycle,it was coming whatever as all the macro said dis-inflation had ran its course,from economic indicators,political and social.Covid,could of been a war,a collapse,anything. This is all classic looking for a reason stuff when the cycle is already underway.Liquidity drives everything,that and the cost of money.An interesting part to this cycle though,and one i didnt expect or even think about was the demand for money/credit falling very hard in the bond markets.Im trying to understand that now and add to roadmaps,but the main thing is it seems to push the cycle even more to a fiscal government injection cycle and CBs having bigger balance sheets. Key things are the same as this thread always said.Western economies cant produce the wealth to sustain the demands.That means more production coming back,more investment in the backbone of the economy,and thats exactly what is happening behind the noise. Companies who had to spend massive amounts building out physical assets during the dis-inflation were hated by the market because they dont understand how much inflation matters to these companies.Cost of capital can nearly be as much as return on capital employed and they run to stand still,or leverage to stand still. The government is going to be fighting massive problems and at a time when the CBs stop printing.They need inflation to be higher than spending increases.The struggle of employers to get workers is classic stuff.I said to many people wages were going up and they thought i was mad,but welfare,retirement and wellbeing surpass wages for very large numbers of people.Government needs to reform welfare quickly,but im not sure they have the political will.
    20 points
  17. It would also be nice to see a vaguely independent assessment of the risk reward for various age groups.The vaccine isn't prefect by any stretch and there are clear dangers.UK yellow card system reporting 1470 detahs so far,linked to vaccine.WHere do you read that in the press? Over the last year,I've got really tired of hearing how young kids should be off school.LS reporting only 1.6% of kids test postive during isolation today. WHat I suspect we're seeing is a virus mutating into a weaker more infectious form. AS for your advice on whetehr to take the vaccine,I think you're more bag on than most of the doctors they parade on GMTV.Genuinely good advice that will stand the test of time imho. I'm noticing changes in attitudes at work -NHS.Lot of the younger members of staff are making quietly critical comments on the amount of money some people are getting on benefits-particularly the alcholics for instance who get disability-not for the alcholism but the problems caused by the alcohol-. Things are changing. ALso seeing a lot of people declining overtime.Last night shift I was on we had 60% of normal crew levels and we had 60% more work.Short story long,it was a stresful night and I totally get why we're losing staff.The money's crap until you've been in a few years and by then most people are burned out. A&E is getting smashed too.Lot of GP's not seeing many people. Must say,these lockdowns have a lot of unintended cosnsequences.I warned acquaintances who were pro lockdown what would happen a year down the line and here we are and it's even worse than I thought.
    19 points
  18. I was going to pull the trigger on BAG a while ago but then found they had lost the contract with Rockstar for the cans of energy drinks , i worked in retail for 20 years and when we ordered from Barr back then cans of Rockstar were easily a good 50% of the order. It spooked me and i didn't buy. I live off my dividends so that is the number one criteria to me when investing , i would never buy anything without a yield but Barr have promised they are coming back. I have a few in my portfolio who aren't paying at the moment , Carnival , Centrica , Go Ahead and Stagecoach. I really should dump them but hopefully in 2/3 years time they too are in a position to resume payouts. Last year i took a 10k haircut on what i earn from my dividends but with the amount of shares i bought at the lows of Spring 2020 i am well on the way to recouping that this tax year. I only work cash in hand jobs now if i have to and the amount of work i get offered is unbelievable , helping a builder last week , £100 for 4 hours work 9 till 1. Tesco is about the only place left taking cash so i've been going in and spending £100 on booze every day , they have some great compost at 2 bags for £6 as well , mix a bit of grit in with it and my cannabis plants thrive in it. I retired 5 years ago at 48 , being single there was no point in carrying on working , i have no intentions of spending shitloads doing up a house , driving a fancy car , expensive holidays. I live very frugally and love it , i deleted my CV 5 years ago and haven't regretted it once. I would say i am totally unemployable in a job that involves dealing with people now. Which is a great comfort to me.
    19 points
  19. https://wolfstreet.com/2021/07/09/container-freight-rates-hit-new-extremes-up-6x-asia-to-us-europe-peak-shipping-season-still-ahead/ I sometimes forget,but i had a very successful one man band import business that i ran down and closed to get all the capital out because my roadmap showed that model was about to be destroyed.Most of the capital from that ended up in the goldies and silvers etc. I was paying around £2000 for a 40 foot high cube container to ship,sometimes a little more.There is also VAT on the cost,so any increase in the cost sees an even bigger increase from extra tax.Thats before shipping from the port of course,you have trunking costs on top. I used to get 550 firepits on a container so the port to port cost was about £4 a unit.Today it would be £24 a unit. I used to land each unit and onto a pallet for an all in cost of between £35 to £38 and sell for £79 Here is one i used to sell now https://www.amazon.co.uk/INMOZATA-Garden-Outdoor-Brazier-Firepit/dp/B07MP399R9/ref=sr_1_62?dchild=1&keywords=firepit&qid=1625908493&sr=8-62 £130 I can tell you that you can now manufacture almost all goods that are that size and over in the UK for cheaper than shipping from China.In some cases a lot cheaper,for insance shipping a washing machine will now be around £80 a unit,just the port to port. Supply chains built on destroying ordinary peoples jobs have just walked direct into a reflation cycle wall.They are fucked. The survivors need to pull back production quickly in bulky items and out survive their competitors and they need workers,but workers arent interested, Thats why my phone rings every day offering job after job after job,and these are massive blue chip companies.Lower down the pecking orders the job sites are rammed with production operator jobs that they cant fill.The wages arent enough compared to retiring or welfare. As i turn every job down i tell them the wages are far too low given the inflation in the economy (even the ones that would be considered very high wages for the NE) and i think to myself maybe you should of come to this thread in 16 and offered us 10x those wages,but not for engineering,for macro strategy. I should add,the reason we are in the sectors we are is because they arent affected much by the above in a negative way,but they can bump up the prices with the inflation.BAT for instance gets millions of fags on a container and the shipping unit cost is tiny.
    19 points
  20. Its as clear as day to a macro person what they are doing and its simply to lift everything up by around 30%,liquidity.Thats the level where tax should increase faster than spending.However that relies on governments keeping public sector pensions,pay and all benefits much below real inflation.The UK is in such a bad position because of the amount of public sector handouts.There is a huge structural problem there. Wages are going up arent they.We have said it all along,even when it seemed everyone else was saying it was going to be mass unemployment and collapsing wages.In simple terms shipping items,especially bulky items a long way has dozens of inflation touch points.In a reflation each one adds its own costs.Suddenly its much cheaper to pay a £14 an hour wage here,than a £6 one in China.Small items of course no so much.Its all about unit cost in the shipping/mocing etc. This is why iv been positioning into sectors that can hopefully leverage the inflation,or at worst keep pace. The key is patience and confidence.Some sectors will pop faster than others,as @sancho panza mentioned a prime example in Cameco. Its fascinating watching this cycle turn and build,and the fact most still dont accept it.Markets will keep shaking people out though and top slicing when you can and adding again or others on pullbacks would likely add to gains,if your good at it.
    19 points
  21. Shell results - $5.534bn for the qtr. $2bn of buybacks in the second half and 40% increase in dividend. Beats the [outdated] analyst estimates. Trading profits were low and they still don't seem confident in their language or their strategy. If this was repeated each quarter for the year, it gives a PE ratio of under 7. Completely crazy, these companies are prices as declining businesses. I am hoping the BP results will be even better, they have a clearer strategy (which not everyone will like - but at least it's clear) and more positive attitude. I also hope that their trading arm has had another bumper qtr as the momentum in fuel prices continued from the first half. As I said before, anything less than $1bn of share buybacks for the qtr I will be disappointed with but in order form them to keep up with their promises, I am looking for $1.3-1.5bn.
    18 points
  22. I dont think China will nuke anyone unless nuked first.They plan over 1000 years and wouldnt want to ruin the planet for when they take it over.They are winning a fantastic war already though,because surely this woke and cancel culture stuff must be coming direct from their agents and plants across the west.Its incredible how much damage it is doing.Every lockdown,every stupid rule,every footballer who can get more money for scroungers in welfare means less for weapons,and a society slowly falling apart. Instead of dealing with the hard political choices,the west,and Japan,who are actually leading this are merging more and more the monetary CBs with the fiscal governments.That is why you see governments throwing money at anything and everything rather than debateas the CBs buy the debt and monetise it all. China is close to the point where it can use its own population to consume more,and that will force up prices in the west even more because western currency will fall in value relative. I sometimes used to look at the reflation ahead and think the outcomes expected were maybe outliers,but if anything my models are likely underscoring the inflation and dislocation ahead. For ordinary people, they are walking directly into a distribution cycle that would be difficult at it is.If you add one the insane energy transition costs and maybe tax increases on things like council tax,its going to very nasty.
    18 points
  23. This is the worst conservative government iv ever seen by a very large margin and yet a billion times better than Labour.The red wall seats all fell around me because people are sick of scroungers.Those landing on boats,and those home born.The government have no backbone at all though and have created a huge mess.Shelves are half empty yet nobody wants to work.It will need the BOE to pull back from QE to then focus the mind.My partner is a nurse but working for the council in a responder role.They are really short staffed and all their bosses are sat at home on huge salaries doing nothing at all really.They advertised jobs,but only 2 candidates were suitable,and one decided they didnt want the job.So a big push got them one employee when they needed 8.Almost all my partners workmates are wanting to retire soon and starting to go on the sick every few months to force the issue. This is what happens when people see others better off than them for doing nothing at all.
    17 points
  24. Shell second quarter 2021 update note 7 July, 2021 The following is an update to the second quarter 2021 outlook. The impacts presented here may vary from the actual results and are subject to finalisation of the second quarter 2021 results, which will be announced on July 29, 2021. Unless otherwise indicated, all outlook statements exclude identified items. Strong cash generation supports additional shareholder distributions in the second half of 2021 ---------------------------------------- As a result of strong operational and financial delivery, combined with an improved macro-economic outlook, Shell will move to the next phase of its capital allocation framework and, subject to final Board approval, increase total shareholder distributions to within the range of 20-30% of CFFO, starting at the Q2 results announcement. The level of additional distributions will be determined with full visibility of the Q2 financial results. In the second quarter, Shell expects to have further reduced its net debt, although the extent of the reduction will be moderated by working capital movements. In conjunction with the increased distributions, Shell will retire its net debt milestone of $65 billion and will continue to target further strengthening of its balance sheet and AA credit metrics. 2021 cash capex will remain below $22 billion
    17 points
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