EnglishinWales Posted January 20, 2019 Share Posted January 20, 2019 On 18/01/2019 at 19:49, regprentice said: Money and kidneys https://www.foxnews.com/tech/broke-teen-who-sold-kidney-for-an-iphone-now-bedridden-for-life This is actually heart-breaking. That people would have such little regard for their bodies, that God gave them. Quote Link to comment Share on other sites More sharing options...
Saving For a Space Ship Posted January 20, 2019 Share Posted January 20, 2019 (edited) 28 minutes ago, Ghostly said: Mike Ashley after HMV now, he’s straight up lost his marbles (and his cash soon after). https://www.bbc.co.uk/news/business-46940238 Quote Sports Direct also owns a stake in Game Digital, which Mr Ashley could merge with HMV if he is successful, Sky News said. Game Digital PLC https://www.londonstockexchange.com/exchange/prices-and-markets/stocks/summary/company-summary/GB00BMP36W19GBGBXSET3.html Edited January 20, 2019 by Saving For a Space Ship Quote Link to comment Share on other sites More sharing options...
Bluestone59 Posted January 21, 2019 Share Posted January 21, 2019 11 hours ago, Ghostly said: Mike Ashley after HMV now, he’s straight up lost his marbles (and his cash soon after). https://www.bbc.co.uk/news/business-46940238 Does Ashley look to you like a guy who wouldn't generally come out on top cash-wise? At least Sky, BBC etc woukd be pleased as they behave towards him like they do to Trump. Quote Link to comment Share on other sites More sharing options...
winkie Posted January 21, 2019 Share Posted January 21, 2019 9 hours ago, Bluestone59 said: Does Ashley look to you like a guy who wouldn't generally come out on top cash-wise? At least Sky, BBC etc woukd be pleased as they behave towards him like they do to Trump. Mike Ashley too big to fail......no doubt he'll collapse a few commercial rents?......if the rent goes down, does that mean the value goes down?? Quote Link to comment Share on other sites More sharing options...
Council estate capitalist Posted January 21, 2019 Share Posted January 21, 2019 3 hours ago, Ghostly said: Game is another failing company on a 'burning platform'. They generally tend to make money when a new console is released but then bugger all the rest of the time. There probably will be a PS5 and Xbox Two but after that there may be alternatives such as game streaming (this already exists but with issues). Additionally, a lot of people buy games digitally these days. My opinion of him is pretty darn low. Imo game publishers are trying to remove the retailer (and their profit margin) from the equation in the same way Apple tried to do with the music business. It started a few years ago when games shipped with "one use codes" tied to a user account that gave access to parts of the game (Mostly online multiplayer). This destroyed the resale market for those titles because to buy a new access code would cost almost as much/more than buying the game new. I'm not an expert on video game retail but the used resale side of the business will have significantly higher profit margins than on new goods (Just look at the price board at Cex, they sell used items for double or more what they paid for them). I know they get "commercial payments" from Nintendo for giving large amounts of shelf space to the more family-oriented Nintendo games, I wonder what kind of hit they would take if this stopped. As for Ashley I think he's smart enough to structure deals in such a way as to not lose money. His (Sports direct) holdings of Debenhams shares have taken a big hit though, I remember reading about his 25% position when it was trading at 22p It's currently at 3 pence a share. Quote Link to comment Share on other sites More sharing options...
longgone Posted January 21, 2019 Share Posted January 21, 2019 On 20/01/2019 at 21:38, EnglishinWales said: This is actually heart-breaking. That people would have such little regard for their bodies, that God gave them. especially when the iphone 4 and ipad 2 have depreciated in value so much. steve jobs has a lot to answer to. Quote Link to comment Share on other sites More sharing options...
Tulip_mania Posted January 21, 2019 Share Posted January 21, 2019 The two things I'm looking at this year: Betting Shops in April, more likely to manifest itself by store closures than bankruptcy, but the FOBT ban will thin these out. Estate (Letting) Agents, the tenant fees ban from June, not sure if it applies from the date a tenancy is signed, or physically starts, could be significant for student letting agents where contracts will be agreed now, but moving date is summer. Quote Link to comment Share on other sites More sharing options...
Longtermrenter Posted January 22, 2019 Share Posted January 22, 2019 13 hours ago, Tulip_mania said: The two things I'm looking at this year: Betting Shops in April, more likely to manifest itself by store closures than bankruptcy, but the FOBT ban will thin these out. Estate (Letting) Agents, the tenant fees ban from June, not sure if it applies from the date a tenancy is signed, or physically starts, could be significant for student letting agents where contracts will be agreed now, but moving date is summer. I believe the ban is for new tenancies after that date. A year later in 2020 it will apply to all tenancies so people checking out will not have to pay check out fees etc. Quote Link to comment Share on other sites More sharing options...
Errol Posted January 22, 2019 Share Posted January 22, 2019 (edited) Patisserie Valerie collapses into administration https://www.bbc.co.uk/news/business-46965761 Edited January 22, 2019 by Errol Quote Link to comment Share on other sites More sharing options...
chronyx Posted January 22, 2019 Share Posted January 22, 2019 2 minutes ago, Errol said: Patisserie Valerie collapses into administration https://www.bbc.co.uk/news/business-46965761 Why are you going under, Valerie? Valeriiiiiieeeeee Valerie. Quote Link to comment Share on other sites More sharing options...
Errol Posted January 22, 2019 Share Posted January 22, 2019 The mix was all wrong with Valerie. It was full of air-pockets and just crumbled. Quote Link to comment Share on other sites More sharing options...
reddog Posted January 22, 2019 Author Share Posted January 22, 2019 Don't think this got much coverage, but House of Fraser had a 60% year on year decline in Christmas sales. Partly due to suppliers refusing to sell to it: https://www.retailgazette.co.uk/blog/2019/01/house-fraser-sales-crash-60-lead-christmas/ Quote Link to comment Share on other sites More sharing options...
Will! Posted January 22, 2019 Share Posted January 22, 2019 4 hours ago, Errol said: Patisserie Valerie collapses into administration https://www.bbc.co.uk/news/business-46965761 They were cooking the books. Quote Link to comment Share on other sites More sharing options...
hotblack42 Posted January 23, 2019 Share Posted January 23, 2019 I've always thought these pastry shops were a bit flaky Quote Link to comment Share on other sites More sharing options...
hurlerontheditch Posted January 23, 2019 Share Posted January 23, 2019 10 hours ago, Will! said: They were cooking the books. More on Patisserie Valerie from City veteran Steve Clapham, who is surprised that auditors Grant Thornton did not see any warning signs. He tells the Today programme: "The idea there's so many fake entries, you wonder why the auditors wouldn't come across [them]. "There are thousands of fake transaction, you think they might have seen one." The Financial Reporting Council has previously said it is investigating audits by Grant Thornton for three years - 2015, 2016 and 2017. how much more of this is out there being an auditor seems a cushy number.. just turn up, have a chat, spend a week writing a report. timesheet in, job done Quote Link to comment Share on other sites More sharing options...
Silverfinger Posted January 23, 2019 Share Posted January 23, 2019 33 minutes ago, hurlerontheditch said: just turn up, have a chat, spend a week writing a report. timesheet in, job done That's the way the cookie crumbles... Quote Link to comment Share on other sites More sharing options...
hotblack42 Posted January 23, 2019 Share Posted January 23, 2019 3 hours ago, Silverfinger said: That's the way the cookie crumbles... Forging figures at bakery business really takes the biscuit. I'll get me coat.. Quote Link to comment Share on other sites More sharing options...
Bluestone59 Posted January 23, 2019 Share Posted January 23, 2019 11 hours ago, hurlerontheditch said: More on Patisserie Valerie from City veteran Steve Clapham, who is surprised that auditors Grant Thornton did not see any warning signs. He tells the Today programme: "The idea there's so many fake entries, you wonder why the auditors wouldn't come across [them]. "There are thousands of fake transaction, you think they might have seen one." The Financial Reporting Council has previously said it is investigating audits by Grant Thornton for three years - 2015, 2016 and 2017. how much more of this is out there being an auditor seems a cushy number.. just turn up, have a chat, spend a week writing a report. timesheet in, job done I worked in a mid sized firm where the accountant was not the fully qualified item. A one million pound gap mysteriously appeared in the figures and the guy was dismissed. Interestingly, the word on the streets was that he was "encouraged" to falsify the numbers so that the principals could get their hands on bonuses some of whom had made some unwise property gambles and needed a bail out. (1991) Auditors of course never smelt a rat, despite the intense pong. They hardly ever seem to, although requirements for an audit to be mandatory have been greatly relaxed over the years so this is bound to happen. Then again I guess if they can't be bothered to carry out an audit properly then there's not much point forcing firms to have one. Quote Link to comment Share on other sites More sharing options...
zugzwang Posted January 24, 2019 Share Posted January 24, 2019 Metro Bank loses a third of its value overnight as BTL blows up in its stupid face. Yet another British banking failure Quote LONDON (Reuters) - Metro Bank (L:MTRO) shares lost a third of their value on Wednesday after the British lender announced a sharp rise in exposure to higher-risk mortgages and said profits would be hit by slowing growth, raising fears of a shareholder cash call. Metro, set up to challenge the dominance of Britain's big lenders after the financial crisis, reported a hefty adjustment in its risk-weighted assets (RWAs) following a review of its commercial property exposures and specialist buy-to-let loans. It said its RWAs had risen by around 900 million pounds, ramping up pressure on its core capital ratio - a widely-tracked measure of bank strength - which now stood at 15.8 percent, down from 19.1 percent in the third quarter. Metro Bank's shares were trading 33 percent lower at 1,478 pence at 1000 GMT, at the bottom of London's midcap index and on course for their worst day on record. That took the company's market valuation down to less than 1.5 billion pounds. Chief Executive Officer Craig Donaldson declined to comment on whether the bank would need a cash call to reinforce its capital buffers, but told analysts the company "will look at all options to maximize shareholder return". "We have a number of levers we can pull to support our capital position and we will look across that," he added. Metro Bank raised 303 million pounds last year to replenish funds needed to deliver on targets to more than double its loan book within three years. It had earlier said it might need to raise more cash to support these aims by 2020. While shareholders balked at the new capital positions, Metro compounded their disappointment with a downbeat assessment on margins and competition in the UK mortgage market. "We are operating in a very competitive environment and we continued to see that come through. We have definitely seen a softening of mortgage margins," Donaldson told analysts. Lenders in Britain also expect demand for mortgages and credit card lending to fall by the greatest extent in several years, a Bank of England survey showed, adding to signs of an economic slowdown before Brexit. Quote Link to comment Share on other sites More sharing options...
zugzwang Posted January 25, 2019 Share Posted January 25, 2019 London Pride sold to the Japanese. https://www.theguardian.com/business/2019/jan/25/london-pride-maker-fullers-sells-beer-business-to-asahi-for-250m Quote Link to comment Share on other sites More sharing options...
Big Orange Posted January 25, 2019 Share Posted January 25, 2019 15 minutes ago, zugzwang said: London Pride sold to the Japanese. https://www.theguardian.com/business/2019/jan/25/london-pride-maker-fullers-sells-beer-business-to-asahi-for-250m That's yet another British brand sold down the river by the shareholders (parasites potentially killing the host). Quote Link to comment Share on other sites More sharing options...
Errol Posted January 25, 2019 Share Posted January 25, 2019 Renamed to Tokyo Pride? Quote Link to comment Share on other sites More sharing options...
Tiger1234 Posted January 27, 2019 Share Posted January 27, 2019 Not exactly collapse, but love with the mighty have a reality check.................Don't worry Tesco you already lost my custom years ago. https://www.dailymail.co.uk/news/article-6636325/Tesco-axe-15-000-jobs-close-meat-fish-delicatessen-counters.html Quote Link to comment Share on other sites More sharing options...
Timbuk3 Posted January 27, 2019 Share Posted January 27, 2019 www.theguardian.com/business/2019/jan/26/small-supermarket-wales-owned-surrey-casino-property. Councils being lent money by central government to invest in commercial property. Meanwhile central government pursues hard brexit which may crash property prices by up to 70%. Perfidious Albion. Quote Link to comment Share on other sites More sharing options...
24gray24 Posted January 27, 2019 Share Posted January 27, 2019 Saw something saying metro bank was in deep trouble. Was I mistaken? (Or is it " here go the banks...again")? Davos seems to be telling everyone it's now recession too. Quote Link to comment Share on other sites More sharing options...
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