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redpanda

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Everything posted by redpanda

  1. http://www.bbalibor.com/panels/gbp Please find a complete list below for all the 16 banks that currently contribute to the fixing of Sterling bbalibor. This panel was last reviewed in May 2012. Abbey National plc Bank of Tokyo-Mitsubishi UFJ Ltd Barclays Bank plc BNP Paribas Citibank NA Credit Agricole CIB Deutsche Bank AG HSBC JP Morgan Chase Lloyds Banking Group Mizuho Corporate Bank Rabobank Royal Bank of Canada The Royal Bank of Scotland Group Société Générale UBS AG
  2. I live in Singapore, I noticed this great offer being promoted on the cash machine when I went to get some money out today: Usher in another year of growth with up to 0.628% pa on your savings You wonder why they don't mind accepting a tiny yield?
  3. It's not Halifax, is it? I had this exact same thing before where they tried to charge me for going overdrawn when clearly I hadn't. I just threatened to close the account and they backed down and cancelled the charge, that normally seems to work.
  4. My arguments come with the depth that comes from having worked in financial services in both London and HK, which I suspect most of the people on this thread have not. That aside, you misunderstand what I am saying. My point is that this could well be a defining moment for the UK, as the one remaining industry in which the UK has any kind of pre-eminent position enters a decline. One of the largest companies in the world is moving away from the UK, it seems perverse to be celebrating that fact. So what if HSBC benefited from a low interest rate policy? Didn't every other bank, every other
  5. And how exactly does this apply to HSBC who never took a penny of bailout money from the UK government and employs thousands of people in the UK?
  6. The UK was ruined by Gordon Brown and his fake economic miracle, it's very convenient for politicians to blame banks for everything that happened on their watch, and judging by the comments here it seems some people have swallowed it hook, line and sinker. Without financial services, in what industry does the UK have a competitive advantage any more to lead it out of the mess it is in? Pound shops and Cash Converters?
  7. It's beyond belief that some people here are lauding this as a great thing. One of the biggest corporations in the world that employs thousands of people and pays taxes in the UK (and never received any government bailout) is moving overseas. How is the UK ever going to dig itself out of the massive hole it has created without private enterprise to support it? This is a significant milestone in the inexorable shift of power from West to East and the UK's terminal decline into a second world state, what cause is there for celebration? Do you think the HK people are looking at this as a disa
  8. Moved to HK just over a year ago and it's the best thing I ever did, don't think I'm ever going back. Amazingly convenient lifestyle, great nightlife, loads of Brits to hang out with (and no chavs ever make it as far as here either), great travel opportunities, better weather (except the odd typhoon which means you don't have to go to work), taxis so cheap you can travel everywhere by cab if you feel like it, lots of beaches (believe it or not), swimming pool and gym just downstairs, short ferry ride to Macau - and, of course, ridiculously low income tax, and no NI, no council tax, no CGT. I
  9. They are re-building their balance sheet - article states pre-tax profit (i.e. after salary/bonus) forecast at 5.8bn v dividend of 570m, which equates to several billion of retained profit. Returns to shareholders are not just in the form of dividends but also in retained profit / increased share price. Some companies never pay a dividend but people still invest in them.
  10. Some brilliant reading :- …and lenders generally remain prudent Despite high levels of debt most lenders and borrowers remain more prudent than in the eighties. Most lenders appear to have learned the lessons of the past with the proportion of lending above 95% of the value of the property currently half the level of the eighties. At some stage this will limit the headroom for price growth particularly in London and the South East and naturally slow the market. Borrowers should not be encouraged to over-stretch themselves in spite of low mortgage rates and buoyant economic conditions.
  11. The thing is, that £700bn never really existed in the first place. What were we going to do, sell the whole country to realize the money? Let's all be glad that some sanity is finally returning to this country. I'm also totally in cash, ready to buy a place at a moment's notice. I haven't lost a bean, so some other poor mug's lost my £40k. I'm not concerned about inflation at all, who cares if things like bread etc get a bit more expensive when you're making £2-3k a month by simply not buying a house? The sweet spot to buy will come, but I doubt it will be this year. Just keep saving aw
  12. A house is not a financial instrument and she's not giving mortgage advice so I doubt there's any legal implications here, AFAIK FSMA doesn't apply.
  13. And where can you get £1500pm rent on a £200k place? We are a long way from being near to that, if it ever happens, sounds more like the kind of things Inside Track used to claim. I remember being told once that about 9% was required to be a sustainable yield, so your % is probably about right. But for your model to work we need to be right at or near the bottom of the cycle. I think we're still a long way away from "a modest 2% a year" increase in prices, so my money's staying put for now.
  14. It's also illegal in this country too... http://www.fsa.gov.uk/pubs/public/market_abuse.pdf
  15. It wasn't... http://online.wsj.com/article/SB122303190029501925.html http://www.wharf.co.uk/2008/11/citi-calls-...eting-as-s.html
  16. Incorrect. The banks will still have to write down the bad debt, which will have a massive impact on their profits.
  17. And 1/4 of people think it's down to newspaper headlines. It's scary that even now people have absolutely no clue what is going on...
  18. SOW THE F***ING SEEDS!!!!!!!!!!!!!!!!!!! If you're trying to pose as intellectually superior to other posters, I suggest you check that any suggested spelling "corrections" are actually correct. Pedantry is an unwelcome habit at the best of times, but when plain wrong you make yourself look like the greater fool.
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