"Next month, Antonio Horta-Osorio, the bank's chief executive, will set out a new three-year strategic plan that will involve billions of pounds of investment in new technology and systems."
A snippet on the back of a piece mostly about bonus caps, quite a significant peep though if you are a long term investor wondering where LLOY's renewed profitability is going to be put to work. Take heart then that 2017 did indeed deliver the eps LLOY fans were hoping for, enough hopefully for a restored dividend and this pre-announcement of internal investment.
The article refers to "insider" and "sources" for the comment, there has been no official press release to tell us what the Chief Exec might announce as a major strategic initiative next month. Results are scheduled for 21 Feb.
Whiff of a leak or a briefing ... I suggest Hortensia checks staff diaries to see which of them had lunch with the City Editor of Sky News today, and who was buying.
Lloyds might not be the main banker, but they'll no doubt be sub-contractors that had borrowing with Lloyds. In turn these sub-contractors will be (or rather, would have been) reliant on Carillion so that they can service their debt to Lloyds.
Carillion's main banker is I understand NatWest(RBS) & HSBC is corporate financial advisor.Lloyds is one of ten members of a consortium of lenders to the company.
I would guess Lloyds gross exposure could be in £250m range however a larger than average loan default provision was made Q3 which may have included partial provision.
"Sorry folks, dealing on line has stopped again on iii/TDW - give me strength....."
I sincerely hope it hasn't cost you or anyone else some more in money. But for me, they're back up as I just re-added a tranche of ITV shares literally a few minutes ago. - But if this shambles continues, obviously the exit of clients will only continue increasing.
I expected some disruption in the run-up to the official takeover of TDD being completed by 11th December, as perhaps we all did, but not this ongoing disarray.
I'll still give it a few weeks to months as all TDD clients can exit free of change until October, but if it continues I'm 100% off. - All the best!
"The question is: what is the total amount they will have to write off?"
Peanuts compared to the 'additional' PPI provision that will be required (another £2bn in my estimation)
That said every little helps to bump up the negative figures before we are in the all clear by end of 2019.
I guess Ive been around for too long but I really trust nothing that is completed and finalised on line until the money or documents are in my hands. So for the past 5 years I have always taken a screen shot, complete with time and date, of any order confirmation, etc. that appears before I push the order/send/finish button even if they say we will send a confirmation email. I paste it into MS Word and there it remains in a separate actions folder until the transfer, deal or whatever is completed and I have the necessary proof.
This possibly OTT habit has served me well on at least 3 occasions when there have been disputes. Once for a car insurance quote, once for a money transfer from the Monmouth BS that got lost and once to an electricity provider who would not accept that I had submitted a closing meter reading. When attached to a letter emailed to a previous in denial customer service the problems were resolved. On all occasions I then emailed the CEOs politely pointing out the error of their ways, service dissatisfaction and the time and effort on my part to correct. I always then suggest they may wish to consider some form of compensation and only once did they not send me any. However a swift follow up saying, Im sorry but I would now be taking the matter further and if necessary forwarding the sequence of events and basis of my complaint to the media (programmes such as Watch Dog and/or newspapers), resolved the reluctance to compensate immediately.
Fundamentally, if I believe that I have been treated badly I will not let it lie and indeed why should I. So if you are having problems with someone not transferring what is rightly yours or is not providing the service you have paid for through their own gross incompetence then make the time to hassle them just like they would you if the shoe was on the other foot. If necessary, dont bother rattling the milk bottles go directly to the milkman. If you don't have a response from customer services within 48 hours then email the CEO direct outlining the sequence of events, suggesting a short response timeline and politely but firmly listing your expectations before you take the matter further. Fundamentally no business wants their incompetence to be in the headlines. If you dont get satisfaction forget trust pilot, et al and go directly to the correct media editor with a copy to the CEO, FCA, etc. I would wager a small bet that your problem will be top of the que to be resolved.
Have some back bone, and just do it - nil carborundum illegitimi.
The following to be said in a Yorkshire accent go on give it a try!
A Yorkshire man takes his cat to the vet.
Yorkshireman: "Ayup, lad, I need to talk to thee about me cat."
Vet: "Is it a tom?"
Yorkshireman: "Nay, I've browt it with us."
A Yorkshireman's dog dies and as it was a favourite pet he decides to have a gold statue made by a jeweller to remember the dog by.
Yorkshireman: "Can tha mek us a gold statue of yon dog?"
Jeweller: "Do you want it 18 carat?"
Yorkshireman: "No I want it chewin' a bone yer daft beggar!"
Bloke from Barnsley with piles asks chemist "Nah then lad, does tha sell a rse cream?"
Chemist replies "Aye, Magnum or Cornetto?""
Police have just released details of a new drug craze that is being carried out in Yorkshire nightclubs. Apparently, Yorkshire club goers have started injecting Ecstasy just above their front teeth.
Police say the dangerous practice is called "e by gum"
In Carillion's 2016 accounts, debt (the amount owed to banks) was shown as £592 million. However the real figure was £1,353 million.
Carillion participated in the Early Payments Scheme (a system suggested by government which enabled small business to get paid on time). Under this scheme a small business owner could take his authorised invoice to the bank, who would then pay it. In doing this Carillion now owed the bank, not the creditor. The amount owed to banks under this scheme should have been shown as 'debt', but it was included with creditors as 'other creditors'. Now Lloyds Bank was one of those participating in Carillion's EPS. The question is: what is the total amount they will have to write off?
Do you have shares that you invest in for the long term or are you purely focused on short term trades? If you also invest in shares long term it would be good to hear your views on shares which you think look good value at the moment?
Further to my recent comments on this & why despite ongoing reservations, I'm staying put with iii a little longer. At least until I book more profit on a couple of my holdings, due to some inordinate times take to complete broker transfers.
NB: Those looking to move fairly quickly, reasonably assuming transfers may take only 2 to 3 weeks because the brokers you're transferring to gives this time estimate, better take heed.
This customer review on Trust Pilot from a Mr Nicol yesterday tallies with a number of others posted previously. Barclays clients have been posting similar experiences of inordinate delays elsewhere. Almost beggars belief & hard to see how these brokers won't be contravening regulations, but this can be the tiresome reality for some clients. GLA.
Quote: Published 19 hours ago: "Transfer out a shambles.
Been awaiting a transfer out from ii to another UK broker for 7 weeks. They confirmed the transfer by email and new broker 7 weeks ago. I phone weekly to be told they are dealing with it. Just today I press them for an answer now say they have not got the transfer request and will just have to start the process again - another 8 week delay ahead."
I am giving II a bit more time, but will drop a note to the regulator.
My feeling is that this will all be put down to merging the platforms. I also use Halifax and will sign up with one other broker due to my biggest issue which is the security of my shares and cash held in nominee accounts and with third parties.
I've been feeling pretty insecure about my old TDW broking account, now iii, for the last few days. Thought I'd check this board and sure enough, I'm not alone, so thanks.
You may be interested in this, it's the FCA contact details:
This information would be best placed with our Consumer Queries Team and your email has been sent to the team for further investigation. Please contact the team directly if you would like an update or if you have any further information regarding this matter.
Telephone: 0800 111 6768
I have contacted them and would ask that others do the same. It has been impossible to buy on line through iii since last Thursday. I've never heard of such a screw up in this business.
I had already transferred my SIPP to A J Bell. They seem OK, but the trading platform is really rudimentary, in my view.
TDW were great, I thought. iii have made everything worse.
I'm about to jump ship to Hargreaves Lansdown, having read up on the alternatives. Next best might have been Halifax.
Sorry to arrive so late and to use the LLOY board. I'm still a big LLOY holder. No plans to sell.
At the very least the Directors should be charged with trading whilst insolvent, a criminal offence.
It is difficult to understand why suppliers would undertake work with a 120 day payment term. That would be from the invoice date which would be after they had paid out for materials and wages, so at least six months cash flow deficit. Not a good deal or business plan!
"Getting back into market is not easy, any advice would be appreciated."
I notice you hold PHP, am familiar with it and the sector.
Although I guess you might not want another very similar company but have you looked at MXF ? ( Medicx Fund )
Yield at current sp is 7.2 %, pays quarterly. The divi not fully covered but improving. No stamp on share purchase.
Company expanding but at what seems a modest cautious rate, recently entered the Irish market.
I was shorting the DOW yesterday afternoon at either side of the 26 K level.
7 shorts in and out fairly quickly for a total + 192 pts.
Although a morning short had resulted in a 30pt loss.
Nice result overall though.
Yes, markets are looking toppy although the DOW has fallen considerably from its high of yesterday.
I will have to admit shorting indices does sometimes make me a little nervous, easy to end up in a losing position.The DOW in particular has some big moves.
I also keep an eye on the VIX and would favour long ( depending on level of course )
Unfortunately spread with IG is wide.
One thing to look for is a rise in the VIX (CBOE). Today it has been rising all day. I actually said at the beginning of the year 3/1 (I think), that I would be long the VIX in my model portfolio. For me, it is much easier to play a correction that way, than to short a stock or an index. It can also act as a hedge.
The S&P 500 has been up every single session this year. That is pretty much unprecedented. Today, we, finally got a big down move 2808.5 to 2769. I'm not going to call the market top, but, I am willing to accept it could be. As far as LLOY is concerned is does mirror the FTSE 100. I think you will struggle to get much more upside without some short of news. FWIW I think 70.5 is a good place to sell, with the imtention of buying back cheaper.
It is also worth noting that the FTSE is undeperforming the US indices.
Funny BrownAdder just spent 20 mins catching up on posts but looking at the Dow amdFTSE I really was wondering if we have peaked and the correction some have been predicting is nigh. Interested in others comments especially soi etc. Lloyds likely to mirror the FTSE I would guess given its intrinsic link to the UK.
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