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What's going to collapse next...


TheCountOfNowhere

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On 11/01/2020 at 14:21, spygirl said:

https://www.ft.com/content/271ffc0a-32c6-11ea-9703-eea0cae3f0de



The Spanish lender sparked confusion among investors in “additional tier 1” (AT1) bonds in February 2019 when it opted not to repay one of its equity-like securities at the first available opportunity, despite raising new funds.

 



“Everything about it was weird,” said Jérôme Legras, head of research at Axiom Alternative Investments. He noted that months later Santander called a different bond despite it having a lower cost than the one it earlier deemed uneconomic to repay.

 

Either Sandanter have employed morons in its treasury dept - v possible in Spain.

Or its in massive shit.

More ...

Santander retrenches in UK as mortgage price war bites

Bank caught between smaller challengers and incumbent ‘Big Four’ lenders

https://www.ft.com/content/2f5db73c-33a1-11ea-a329-0bcf87a328f2

Santander are big but very inefficient.

I think they are going to pull out, either through choice or booted out by BoE.

 

 

 

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Charts for Stob not great, and a related stock ESL was suspended.

Untitled.thumb.gif.27fde515c604c56d407ecf0988f87144.gif

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THE department store chain Beales could be set to go into administration within days.

The company, which put itself up for sale last month, will make the move if no deal is done.

https://www.dailyecho.co.uk/news/18155662.beales-set-go-administration-within-days-unless-sale-agreed/

 

Edited by 201p
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I am genuinely amazed Beales is still going.

https://www.thisismoney.co.uk/money/news/article-7879283/Department-store-Beales-facing-collapse-High-Street-stalwart-goes-under.html

The last time I went in one, it was full of boomer junk at twice the price of everywhere else. There was never anyone in there except the odd old biddy. The entire experience was depressing, there must be more to this story on how they can stay afloat for this long.

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TheCountOfNowhere
11 minutes ago, spunko said:

I am genuinely amazed Beales is still going.

https://www.thisismoney.co.uk/money/news/article-7879283/Department-store-Beales-facing-collapse-High-Street-stalwart-goes-under.html

The last time I went in one, it was full of boomer junk at twice the price of everywhere else. There was never anyone in there except the odd old biddy. The entire experience was depressing, there must be more to this story on how they can stay afloat for this long.

Is Ian's chip shop and cafe still going though? 

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9 minutes ago, Tdog said:

A shame really, not happy about it. Let's hope a German brand or someone half decent buy it up and run it properly. They literally have no cars under £120k on the market, and are using Mercedes parts and engine, so there was obviously significant cashflow issues.

The valuation and IPO reeked of scam too.

The DBX is awful too IMO, I don't know what everyone's fawning over it for, it looks like a Skoda but with a £160k price tag.

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22 hours ago, dgul said:

Flybe (again).

https://www.bbc.co.uk/news/business-51089118

[I'm not sure any airline could cope with 'crisis talks' and maintain cashflow -- the Thomas Cook 'nightmares' will have made people nervous]

[There's another 'collapse' in there as well -- Stobart group. Surely about time we heard more from them...]

Oddly the government is looking at intervention and adjusting the tax rates. Risky there’s a lot of interventions that will be upcoming- high street , car manufacturers, house building to think of some. 
 

edit: I suppose if they can get an increase in air travel volume might be ok for overall tax take. Be Quiet green lot out in the back! 

Edited by Ash4781b
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I wish these recue deals would be more controlled/regulated. It just seems a way to skimp on tax, ditch the debt on to some other poor mug and carry on until the next 'shortfall' hits.

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33 minutes ago, Tdog said:
1 hour ago, TheNickos said:

I wish these recue deals would be more controlled/regulated. It just seems a way to skimp on tax, ditch the debt on to some other poor mug and carry on until the next 'shortfall' hits.

Branson owns part of it, and with him being one of the worst crony capitalists in the country this is presumably why there are discussions about giving this billionaire taxpayers money.

Shouldnt even be discussed that there is a chance of a bailout where yet again the super rich dont pay the consequence of their incompetence, let the market decide what happens to them.

Totally agree, this makes my blood boil! I used to work for an airline that went bust, lots of reasons, some bad luck, but very poor management. Much as I feel sorry for the loyal employees, this airline (nor any other) should  not be given any helping hand from the taxpayer. If they do it for Flybe, then they'll have to do it for all the others! The government got out of the airline business 30+years ago when it sold off BA, no need to get involved again now!

This is one of the reasons I spoiled my ballot paper in the last election, as there was no Brexit candidate. At least I can criticize to my hearts content the crony capitalism  in play. (Not that commie Corbyn:wanker: would have been any better!)

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1 minute ago, Tdog said:

The free market Tories to the rescue of private companies again.

https://www.dailymail.co.uk/news/article-7887003/Flybe-saved-Government-strikes-deal-airlines-shareholders-afloat.html

Lucky we didnt get a socialist govt last month.

How come they can bail out an airline but not the steel industry? 

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Bedrag Justesen
1 hour ago, One percent said:

How come they can bail out an airline but not the steel industry? 

Flybe plays an essential part interconnecting outer parts to inner mainland.

For example, Isle of Man contracts with Flybe to transport urgent medical patients.

If Flybe failed they would take out some regional airports too.

In a way, it would have been interesting if LibDem majority won. PM Swinson would be blamed for her ecotax policy.

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Bedrag Justesen

Which underlines an important lesson regarding ecotax. They are only viable when people do not change behaviour.

Probably why the diesel car nettle has yet to be grasped.

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4 minutes ago, Bedrag Justesen said:

Flybe plays an essential part interconnecting outer parts to inner mainland.

For example, Isle of Man contracts with Flybe to transport urgent medical patients.

If Flybe failed they would take out some regional airports too.

In a way, it would have been interesting if LibDem majority won. PM Swinson would be blamed for her ecotax policy.

Is this in bedrag mode?  Ffs, the steel industry, like other industries let go, were once the beating heart of communities. All that is left is a bunch of has been bennie seekers, left staring into the abyss. 

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Chewing Grass

There is no such thing as a free market in Europe, the hand of oppressive regulation ensures that with the biggest hand in the cookie jar being the EU and their buddies.

If it was a free market French agriculture and Industry  would have been stamped to death years ago.

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2 hours ago, One percent said:

How come they can bail out an airline/bank/building society but not the steel industry/carillion? 

.

40 minutes ago, Chewing Grass said:

There is no such thing as a free market in Europe, the hand of oppressive regulation ensures that with the biggest hand in the cookie jar being the EU and their buddies.

If it was a free market French agriculture and Industry  would have been stamped to death years ago.

Very much like the big tech giants now think we need to regulate the interweb to ensure their dominance of it

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16 hours ago, Chewing Grass said:

There is no such thing as a free market in Europe, the hand of oppressive regulation ensures that with the biggest hand in the cookie jar being the EU and their buddies.

If it was a free market French agriculture and Industry  would have been stamped to death years ago.

The French look after their own, as do the Germans. People mistake this as being some EU conspiracy but if you look at the policies of Madame Le Pen (anti EU obviously) she has major protectionist policies in her manifesto too. I'm envious that our European neighbours can look after their country's vital services and companies and stop them going into foreign hands and/or going under, while we Brits slavishly assume the "let's not intervene with the free market" bend over and take it fallacy.

It's good that the government rescued FlyBe, but shame they didn't bother with 1,000s of other examples.

Edited by spunko
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What’s the view on metro bank? Share price chart although exaggerated tells a story. Maybe they’ll let it go as a test. 
 

As an aside I keep hearing house sellers referencing ‘I can’t sell’, etc, ‘I’ll rent it for a bit’, ‘he’s renting it out because he can’t sell’ It’s Brexit! Think there might be some pretty big losses baked in. Gov’ will be scared households reign in spending to repair massive holes in the household balance sheets that for some seem totally unaware. Meanwhile banks collapsing, presumably the likes of retailers reporting exceptionally tough trading conditions. Flybe might need another bailout, and the rest!

 

 

9EE4DCB5-F84C-4999-B2A0-1E5EBE74AF23.jpeg

Edited by Ash4781b
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1 hour ago, Ash4781b said:

What’s the view on metro bank? Share price chart although exaggerated tells a story. Maybe they’ll let it go as a test. 
 

As an aside I keep hearing house sellers referencing ‘I can’t sell’, etc, ‘I’ll rent it for a bit’, ‘he’s renting it out because he can’t sell’ It’s Brexit! Think there might be some pretty big losses baked in. Gov’ will be scared households reign in spending to repair massive holes in the household balance sheets that for some seem totally unaware. Meanwhile banks collapsing, presumably the likes of retailers reporting exceptionally tough trading conditions. Flybe might need another bailout, and the rest!

 

 

9EE4DCB5-F84C-4999-B2A0-1E5EBE74AF23.jpeg

Fucked.

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TheCountOfNowhere
1 hour ago, Ash4781b said:

What’s the view on metro bank? Share price chart although exaggerated tells a story. Maybe they’ll let it go as a test. 
 

As an aside I keep hearing house sellers referencing ‘I can’t sell’, etc, ‘I’ll rent it for a bit’, ‘he’s renting it out because he can’t sell’ It’s Brexit! Think there might be some pretty big losses baked in. Gov’ will be scared households reign in spending to repair massive holes in the household balance sheets that for some seem totally unaware. Meanwhile banks collapsing, presumably the likes of retailers reporting exceptionally tough trading conditions. Flybe might need another bailout, and the rest!

 

 

9EE4DCB5-F84C-4999-B2A0-1E5EBE74AF23.jpeg

Fuxed....so will get bailed our and bonuses all round. 

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1 hour ago, Ash4781b said:

What’s the view on metro bank? Share price chart although exaggerated tells a story. Maybe they’ll let it go as a test. 
 

As an aside I keep hearing house sellers referencing ‘I can’t sell’, etc, ‘I’ll rent it for a bit’, ‘he’s renting it out because he can’t sell’ It’s Brexit! Think there might be some pretty big losses baked in. Gov’ will be scared households reign in spending to repair massive holes in the household balance sheets that for some seem totally unaware. Meanwhile banks collapsing, presumably the likes of retailers reporting exceptionally tough trading conditions. Flybe might need another bailout, and the rest!

Our leting agent said there was a good few houses hitting the rental market because the powners couldn't get the top dollar theyd paid a few years before.She said it was mainly higher end.Anmecdotal but hey.

 

It'll be interesting to see how they deal with Metro Bnaks problems.

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