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Everything posted by Timbuk3

  1. Dirty Desmond used to own Northern & Shell , who are also responsible for bringing us Razzle, Readers Wives & Live TV (the one with topless weather and dwarf tossing). Guess he's moved on to property speculation as way to improve himself!!
  2. BL portfolio down 26.1% , that would mean the councils are also having to re-value their portfolios for a similar amount. https://uk.reuters.com/article/uk-british-land-results/british-land-posts-1-1-billion-loss-as-covid-19-hammers-retail-idUKKBN2330PR?il=0
  3. Value of the property portfolio is marked down by 26.1%. https://uk.reuters.com/article/uk-british-land-results/british-land-posts-1-1-billion-loss-as-covid-19-hammers-retail-idUKKBN2330PR?il=0
  4. Meanwhile, in America..... https://www.usatoday.com/story/money/2020/05/21/coronavirus-mortgage-delinquencies-surge-1-6-m-april/5231835002/ https://www.nytimes.com/2020/05/22/business/goldman-sachs-mortgage-foreclosure.html
  5. 900 'office' jobs to go at Clarks - I'm surprised that they have that many. https://www.dailymail.co.uk/money/markets/article-8344331/Loss-making-shoe-seller-Clarks-announces-scrapping-900-office-jobs.html
  6. 450 jobs going at Specsavers. https://www.portsmouth.co.uk/business/450-jobs-cut-specsavers-due-covid-19-business-downturn-2858508
  7. That might be the case but the banks have probably hedged the debt using a collateralised debt swap on which they can claim if the company goes under, so they win either way.
  8. Another British icon goes under. No one travelling, no need for luggage. https://uk.reuters.com/article/uk-health-coronavirus-antler/british-luggage-brand-antler-collapses-as-pandemic-hits-travel-idUKKBN22V16F?il=0
  9. Classic Kitchen sinking, chucking out all your bad news at once. Good opportunity to cut head count. Noticed this is a Guardian article on the latest unemployment claims "The first official attempts to gauge the economic fallout from the coronavirus crisis also revealed the number of employees on company payrolls plunged by 450,000 at the start of April, in a reflection of staff being let go and reduced hiring. The number of vacancies posted by companies looking for new staff also halved."" 450,00 people permanently laid off, not all will have a mortgage but some of them will definitely will now be struggling to pay it.
  10. 6,000 jobs on the line at Bella Italia, 2,600 jobs at OVO Energy. Unemployment claims jump by record amount, and we haven't even got off the furlough scheme yet. https://www.bbc.com/news/uk-scotland-scotland-business-52714205?intlink_from_url=https://www.bbc.com/news/business&link_location=live-reporting-story https://www.bbc.com/news/business-52713791?intlink_from_url=https://www.bbc.com/news/business&link_location=live-reporting-story
  11. Bella Italia, Cafe Rouge owner lining up administration. https://www.bbc.com/news/amp/business-52713791 Dining out has to be one of the last areas to recover, if at all.
  12. Agree with your thinking. And I think this article about JCB proves the point that companies are now looking at reduced demand for their goods and are reducing workforce accordingly. https://www.theguardian.com/business/2020/may/15/nearly-1500-jcb-jobs-at-risk-as-demand-for-machines-halves
  13. Spotted this today, and this is only up to end of March, expect it only got worse since then. Not sure what forbearance they are referring to at the banks, payment holidays I expect. The number of mortgages in arrears crept up during the first three months of 2020, in what appears to be early signs of the impact Covid-19 is having on personal finances. The PA Media news agency reports that 72,380 homeowner mortgages were in arrears of 2.5% or more of the outstanding balance in the first quarter of 2020, up from 70,880 in the fourth quarter of 2019. The figures from a UK Finance report show there were 4,420 mortgages in arrears in the buy-to-let sector, up slightly from 4,390 the previous quarter. Mortgage arrears levels for both homeowners and landlords were lower when compared with the first quarter of 2019, and they remain low by long-term comparisons. The report said:
  14. And also seen that P&O wants to pay out £270m in dividend to their owners - Dubai wealth fund - and then claim the government help. Think they should be made to cut the dividend payment and get no bailout.
  15. Did anyone mention Airbnb laying off 1900 already? https://www.cnbc.com/2020/05/05/airbnb-to-lay-off-nearly-1900-people-25percent-of-company.html
  16. Rolls Royce supposedly looking to shed 8,000 jobs too. No need for so many engines if no one is flying.
  17. Get tey f00k out of there man. Desperate seller = they know the price is going down and they want the cash.
  18. Metro bank just got a downgrade from Fitch's. https://www.cnbc.com/2020/04/21/european-banks-put-on-negative-outlook-by-fitch-ratings.html
  19. Daily Excess jumping on that bandwagon now. https://www.express.co.uk/life-style/property/1271409/uk-property-prices-property-market-coronavirus-crisis-lockdown-restrictions-lifted They are not price reductions they are 'bargains'. and 'Estate Agency bosses are hoping to get the green light' in other words they are desperate for commissions. Mr Shipside gets it at last when he says '“You do not have a functioning market when buyers can’t buy and sellers can’t sell.”, it was pretty much like that before CV19 anyway, think the pandemic has improved it if anything. More shoddy reporting from the Daily Excess, think John Cooper Clarke had the best view of this rag. I look at it for amusement every now and then.
  20. Meanwhile, over the pond. https://www.housingwire.com/articles/nearly-3-million-borrowers-are-already-in-forbearance/
  21. Primark also cancelling orders and it is causing mass layoffs in Bangladesh. Link is on Gaurdian if you need to know.
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