BEWARE! THE BANKS ARE OUT TO GET YOU!

[Tizer]

The computer problem was going on even before Vennells took over but the court found she hadn't done anything to sort it other than having the postmistresses and postmasters blamed and pursued for fraud. These were people who knew little or nothing about computers and didn't understand what was going on.

These people did know what they were doing and it's good the police have got some of them...
`Police swoop on suspected darknet fake banknote buyers' LINK

[Stanley]

There's a whole naughty, nasty world out there Tiz.

[Tizer]

Hhe best paid CEO in the UK is in that position because she makes her money from other people's gambling addiction, including children...
`Bet365: UK's best-paid boss hits £320m jackpot' LINK
`Bet365 boss Denise Coates has received a £320 million payday, confirming her position as the UK's best paid executive. The co-founder of online gambling firm was paid a £277m salary plus dividends as the popularity of online gambling continues to grow. The firm's accounts show that in the year to end-March her salary rose from £220m on the previous period. But the rise comes as the industry faced mounting criticism, including over children gambling...'.

Here we go again...
`Fiat Chrysler and PSA confirm merger deal' LINK

[Stanley]

My only comment is that wage levels like that are obscene.

[Tizer]

Why am I not surprised about this?...
`Hedge funds eavesdrop on Bank of England briefings' LINK

[Stanley]

I saw that report as well Tiz. It reminded me of the days when Big Harry was at Salomon's Bank in London. He was a star performer because he rewired the banks internal network making it faster and prioritising the important traffic but also he persuaded the bank to ditch taking the graphics feed from Reuters (Industry standard) and take raw data instead and write their own graphics. He built a programme to do this and it was faster than Reuters giving Salomon's a slight edge on the market. He reckoned this was worth millions to them. Hacking the sound is the same thing and heads should roll internally in the BofE not just the contractor.

[Stanley]

See THIS Gov.co.UK report on the approval of the sale of Cobham to a US investor. The egregious Andrea Leadsom has approved the controversial sale. What could possibly go wrong?
Later... Questions are being asked about the timing of the announcement, just before 22:00 last night. Also, some parts of the document are redacted.

[Tizer]

Leadsom said employees needn't worry, the deal is that they'll keep their jobs. She's obviously got a short memory and has forgotten the Kraft/Cadbury fiasco already.

[Stanley]

That was the example that occurred to me Tiz.
I note that all has gone quiet on the British Steel at Scunthorpe matter. Does this mean it is safe? Or will we be getting some bad news shortly. I think of all the workers who are affected. Happy Xmas Lads!
There are murmurings of job losses at Port Talbot as well, that matter is by no means settled!

[plaques]

With Cobham the big question is who gets all the patent rights and can they be sold on? Investment companies exist solely to show a profit within a short time period, they are not in it for development or long term research. Once they have ripped out all the knowhow and transferred a few key posts that will be goodbye UK.

[Tripps]

Once they have ripped out all the knowhow and transferred a few key posts

- and loaded the company up with enormous debt. . . .

I'm guessing this is the company that was called 'Flight Refuelling 'when I lived in Dorset. I knew someone who worked there. The timing of the announcement just after Parliament rose, and late on a Friday night tells you all you need to know about the deal. It's almost enough to make you want to vote Labour.

[Stanley]

"It's almost enough to make you want to vote Labour"
Only 'almost'? You ain't seen nothing yet David!

[Stanley]

THIS LA Times report on Boeing is worth reading. The main news of course is the departure of Muilenburg the CEO but the back story of how Boeing got into this sad position is instructive. I predict that Business Schools will use this as an example of how cost-cutting can turn into a disaster and cost far more than the savings. The failure of its space vehicle this week hasn't helped. Eventually Boeing may come out of this mess but it will not be the same force that it was.

[Tizer]

At least in America they sack a boss for failure rather than giving him a bonus as they do in Britain!

[Stanley]

[Whyperion]

Once they have ripped out all the knowhow and transferred a few key posts

- and loaded the company up with enormous debt. . . .

I'm guessing this is the company that was called 'Flight Refuelling 'when I lived in Dorset. I knew someone who worked there. The timing of the announcement just after Parliament rose, and late on a Friday night tells you all you need to know about the deal. It's almost enough to make you want to vote Labour.

Always a quick way to think is a policy a good idea or not, question, if this course of action were proposed by a Labour Administration, what would the Conservative party view on it be ? [Notes Corbyn considered not good to vote for because of fears over 'national security']

[Stanley]

See THIS FT report on the ongoing negotiations with suppliers by the Jingye Group who are the plant's possible buyers. That deal has been concluded but now suppliers are putting the squeeze on the the group. Not positively stated but I suspect the rescue can't be a done deal until these contracts are sorted.

[Stanley]

See THIS BBC report of the interview with Mark Carney broadcast on Today yesterday. (It was a toss-up whether I put it here or in Climate Change matters)
He is highlighting a clear and present danger in ignoring or downgrading warnings about climate change. It is not only a danger climatically but also in terms of returns on investment that are the foundation of things like insurance funds. I've always rated Carney highly and I think this is worth listening to.....

[Stanley]

Did you know that banks charge a bloody fortune for converting a US $ cheque to Sterling?

[Tizer]

If you'd run a business selling internationally like we did you'd be very well aware of it!

[Stanley]

That's how I found out Tiz. In all the talk about barriers to trade etc. for small traders they never mention this one!
I found out from my annual statements of charges and interest. I am happy to say this was the only entry but of course they kept any interest they earned on my balance. I suppose we should be grateful they aren't charging us for holding our money!

[chinatyke]

... I suppose we should be grateful they aren't charging us for holding our money!

Not yet! Coming to your area soon!

[Stanley]

I wouldn't argue with that China. I put nothing past them!
Funny isn't it that despite the down turn we see in real life the banks and stock markets seem to be thriving. Do you ever get the feeling that today's financial structure is a very clever con trick?

[Tizer]

China (the country) is way ahead of us as a cashless society and it's also setting up its own cryptocurrency.

[Tripps]

China: first in - first out.

Cash - Chinese coins