Black Friday - financial crash thread

[Miguel Sanchez]

This is all I hear when people talk about markets:

[cyderspaceman]

L.S.E. to merge with Frankfurt despite Brexit. Is this an example of the 'UK regaining control'?

[Bishop Briggs]

L.S.E. to merge with Frankfurt despite Brexit. Is this an example of the 'UK regaining control'?

 

 

It's a business that will still be based in London and subject to British regulatory controls.

 

If distilleries are owned by English or foreign companies, does that make their whisky any less Scottish?

[cyderspaceman]

It's a business that will still be based in London and subject to British regulatory controls.

 

If distilleries are owned by English or foreign companies, does that make their whisky any less Scottish?

Of course it does.

[Bishop Briggs]

Of course it does.

 

 

Here's a list of Diageo's brands that you can avoid because they are less Scottish to you - https://scotchwhisky.com/whiskypedia/2624/diageo/

[welshbairn]

Here's a list of Diageo's brands that you can avoid because they are less Scottish to you - https://scotchwhisky.com/whiskypedia/2624/diageo/

 

A fine British company that will move its HQ to Edinburgh when rUK abandons the EU.

[Bishop Briggs]

A fine British company that will move its HQ to Edinburgh when rUK abandons the EU.

 

 

Wishful thinking. Scotland will leaving the EU with rUK. 

[cyderspaceman]

Here's a list of Diageo's brands that you can avoid because they are less Scottish to you - https://scotchwhisky.com/whiskypedia/2624/diageo/

I don't wish to avoid them. I sometimes drink French, Japanese and even Welsh whisky. I simply consider a whisky made by a Scottish company to be more Scottish than one made by a non-Scottish company.

[dorlomin]

If\when the London property-investment market turns south, the exit doors are narrow and the stampede for them will be bloody.

 

Standard Life Investments has suspended trading in its UK property fund blaming "exceptional market circumstances" following the EU referendum result.

The fund manager said the number of investors asking to withdraw their money had increased following the vote.

"The suspension was requested to protect the interests of all investors in the fund," it said in a statement.

The last time Standard Life stopped investors taking their money out of the fund was during the financial crisis.

The £2.9bn fund invests in a mixture of commercial real estate in the UK, including office blocks and industrial space.

The move comes after Standard Life Investments, the insurer's fund management arm, wrote down the value of the fund by 5% last week, saying the Brexit vote had "negatively impacted" valuations for UK commercial property.

It said the suspension would end "as soon as practicable" and it would review the decision every 28 days.

Standard Life suspends trading in UK property fund - BBC News

 

UK construction performance weakest for seven years in June

 

 

The Markit/CIPS construction purchasing managers' index fell to 46.0 in June, its lowest level since June 2009. It had been 51.2 in May.

 

A figure above 50 indicates expansion - below that, contraction.

 

Most of the data for the survey was collected before the 23 June referendum in which the UK voted to leave the EU.

 

"However, the extent and speed of the downturn in the face of political and economic uncertainty is a clear warning flag for the wider post-Brexit economic outlook," said Tim Moore, senior economist at Markit.

 

'Dire survey'

Markit said a number of firms had commented on reluctance among clients to commence new contracts in the run-up to the referendum, as well as continuing uncertainty about the general economic outlook.

 

 

Brexit Is a Lehman Moment for European Banks

 

Londons high end property market functioned as a form of wealth store, like buying gold. People stuck money into London because they thought it was safe, if people start selling then there will be a rush to get out before the price crashes. This could cause a price crash in itself. It may not work that way but there will be a large amount of money in mortgages that could turn very sour. We are likely not looking at anything of the scale of the US housing market post 2006, but it will likely be a big hit for the UK financial sector and drying up of work building new properties will likely push construction into a deep recession with lots of job losses. 

 

Also as so many firms are looking at moving some of their operations into EU countries over the coming years there will likely be a drop in demand for commercial floor space. This will see another sector of the building trade also drying up.

 

The loss in revenues and wages from these operations will do some harm to the economy of London and the nation.

 

One of the main reasons I think the tories are falling over themselves to play nice to the EU workers is if they start selling their properties and looking for work elsewhere it could bring a fair surge of property onto the market (a market people will likely be wary of jumping into) thus pushing down house prices, reducing the amount people can borrow against their houses, pushing people into negative equity and all the down side that comes with a biggish fall in house prices. They really need those people to continue to own\rent UK properties.

 

Perhaps we will escape with a couple of quarters of lower growth.

 

Perhaps things will get a bit more "interesting".

 

 

 

[bob the tank]

Here's a list of Diageo's brands that you can avoid because they are less Scottish to you - https://scotchwhisky.com/whiskypedia/2624/diageo/

I avoid all their brands since they sacked me. We were told years ago if they didn't have to make whisky in Scotland for it to be called scotch, with all the cache that brings, they wouldn't. Shortly afterwards they axed 500 jobs in Kilmarnock. Aye a real Scottish company headquartered in London.

[Ross.]

L.S.E. to merge with Frankfurt despite Brexit. Is this an example of the 'UK regaining control'?

 

 

It's a business that will still be based in London and subject to British regulatory controls.

 

If distilleries are owned by English or foreign companies, does that make their whisky any less Scottish?

 

It's not the actual exchange that is merging, just the companies that operate the exchanges. There have been a lot of calls since the Brexit vote to have another look at the proposed terms of the merger as the Germans now feel that it would be in the interests of the company long term to be HQ'd in Frankfurt. Given the deal was fairly far along the road I wouldn't imagine it was very likely that there will be serious change in the terms at this stage but given they will still have a huge base in Frankfurt I also don't imagine that it would be too great a hassle to move the HQ at a later date anyway.

[THE KING]

http://www.bbc.co.uk/news/business-36715806

[Savage Henry]

http://www.bbc.co.uk/news/business-36715806

 

Just a blip.

[Ross.]

 

Aviva said customers would have to wait to pull money out of the £1.8bn Aviva Investors Property Trust because of "a lack of immediate liquidity"

 

The cynic in me would suggest it is more than just a lack of immediate liquidity that is bothering them.

[Cerberus]

Can we not just abandon currency and start building a Mad Max style libertarian utopia?

[cyderspaceman]

Just a blip.

No, start of a long slide.

[doulikefish]

Pound at $1.3 cha ching for those that get paid in dollars

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ME!!!!

[Michael W]

Stop scaremongering, this all has nothing to do with the vote. 

[cyderspaceman]

4 hours ago, Michael W said:

Stop scaremongering, this all has nothing to do with the vote. 

Too late for scaremongering.

[Alan Stubbs]

The blip will be over by the time Turkey joins the EU next week, imo.