Uncle Spielberg
Well-known member
Inflation has gone up from 4.4% to 4.7%. This torpedoes any rate cut in October.
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Another bank I hear are being bought tomorrow
- Thread starter Digweeds Trousers
- Start date
Uncle Spielberg
Well-known member
HBOS group's shares down 30% so far today.
User removed 4
New member
seriously, do you still think the housing market will recover next year ?
Fat Langers
New member
- Dec 27, 2007
- 272
Morgan & Stanley are on RBS's 'amber' list of people to trade with. I know they are being very careful about this.
Uncle Spielberg
Well-known member
Its set things back 6 months, tere were the first gereen shoots in the last month bu they have all been killed off. Lenders have some good 2/3 year fixed rates for mortagge and re mortgages, go in now as all the lenders will pull their present mortgage rates this week and relaunch them at higher rates. The swop rates have rocketed in the last 24 hours.
Barrel of Fun
Abort, retry, fail
Only London saw an overall annual growth in prices (backdated to July). That maybe due to the stability of the mega-rich. Sales of £5m+ homes have been consistent according to Knight Frank. Mainly rich Arabs and Russians one would imagine!
http://www1.landregistry.gov.uk/assets/library/documents/041108.pdf
http://www1.landregistry.gov.uk/assets/library/documents/041108.pdf
Spiros
Well-known member
Not necessarily as RPI has gone from 5% to 4.8% and a lot of commentators are saying that oil prices are now on the way down.
User removed 4
New member
US they could offer 1% mortgages and it wouldnt make a blind bit of difference as confidence in the housing market is totally and utterly f***ed,i dont doubt that you know the in and outs of mortgages 100% but what i dont think you understand is the physcology of markets and how they act, and to be honest from where i am standing i certainly didnt see any green shoots of recovery, only prices dipping again, having said all that i genuinely hope you ride out this difficult time for your business without too much pain.
Billy the Fish
Technocrat
To reiterate what bushy has said, there may well be some good deals on morgages at the moment but I'm not going to take out a morgage on a property if I think that property is priced too high or is going to lose some of it's value in the near future, no matter how good the deal is.
adrian29uk
New member
- Sep 10, 2003
- 3,389
At the end of the day what goes up must come down. It's a simple law that most people should prepare for. Some people, companies have not.
Lets be honest this down turn and sequence of events has been on the cards for the last 12 months.
Lets be honest this down turn and sequence of events has been on the cards for the last 12 months.
This didn't sound right when you posted it.
And here is today's financial statement:
Goldman Sachs said:
Alex Alex Dawson oo! oo!
Primary data is fact
Ooops! - That'll teach me not to listen to American TV while I'm packing.
User removed 4
New member
hearing through the rumour mill that they are going to go after morgan stanley on the open , brokers got nothing but sell orders .
Fat Langers
New member
- Dec 27, 2007
- 272
Im just reporting what ive been told by a mate in RBS in London.
Lokki 7
WSU
Down 11%. Carnage today. What do you broke?
aftershavedave
Well-known member
Im just reporting what ive been told by a mate in RBS in London.
it's a rumour for sure. as is wachovia.
now where's uncle s when you need a view on the global markets?
Lokki 7
WSU
A company called Songbird owns the Lehman building in Canary Wharf. A massive blow to them losing their major tenant but it's ok, they had the foresight to insure their rental income. With AIG. Oh dear.
Storer68
New member
hit $80 a barrel yesterday before a late rebound
The oil price took another dive today following the crisis on Wall Street, and relief that the latest hurricane to threaten the US had only caused minor damage to infrastructure.
Having crashed through $100 a barrel yesterday, the cost of US crude oil fell by another $4 this morning to as low as $91.54 today. It is now a third lower than its all-time peak of $145.29 a barrel, set in July this year.
London Brent crude also slipped sharply, losing another $4.44 to $89.80 a barrel this morning.
The recent weakening in the oil price offers hope to cash-strapped drivers and the airline industry. It could also help to stop the steady rise in inflation, which today hit 4.7%.
Storer68
New member
Wall Street in crisis
Goldman profits slump 70%
Blankfein: 'Solid performance in tough environment'
Andrew Clark in New York
guardian.co.uk, Tuesday September 16 2008 14:41 BST
The investment bank Goldman Sachs suffered a 70% slump in quarterly profits to $845m (£475m) as it caught a chill from the ill wind blown by the global credit crunch.
Goldman's drop in third-quarter earnings sent its shares down more than 10% to $1.21 in the opening minutes of trading on the New York Stock Exchange in a jittery market as investors fear broader instability in the banking industry in the wake of Lehman Brothers collapse.
In a statement, Goldman's chief executive, Lloyd Blankfein, described the outcome as a "solid performance in a tough environment".
He said: "This was a challenging quarter as we saw a marked decrease in client activity and declining asset valuations."
Until recently, Goldman was viewed as one of Wall Street's few winners from the global credit crunch. It made record profits last year when its traders correctly forecast a slump in the sub-prime mortgage industry.
But a collapse in the credit market and an evaporation in deal-making activity has taken its toll.
Goldman's investment banking division saw a 40% fall in revenue to $1.29bn, including a 56% plunge in financial advisory fees, blamed on an industry-wide decrease in mergers and acquisitions.
In its trading and principal investments division, the bank's revenue dived by 67% to $2.7bn. Goldman revealed that it made a $500m loss on residential mortgage-related securities and a $325m loss on commercial mortgages. Its principal investments operation made a $453m loss, largely due to corporate and property investments.
Blankfein remained upbeat, saying: "We remain well-positioned to meet the needs of our clients and identify and act on the right market opportunities."
Goldman watched the demise of several of its biggest competitors this year. Bear Stearns and Lehman Brothers have collapsed, while Merrill Lynch surrendered its independence this week through a $50bn takeover by Bank of America.
Analysts are keen to disentangle the level of exposure held by Goldman to its troubled rivals through interconnected investments and credit swaps.
Prior to the release of Goldman's earnings, equity analysts at Standard & Poor's cut their rating on the bank's shares from buy to hold. In a research note, S&P said it still believed Goldman had performed "better than its peers" through sound risk management and prudent executive decisions. But it added: "We also think the crisis of confidence within its industry has failed to separate good performers from bad."
The fall in profits will take its toll on staff remuneration. Goldman said its expenditure on compensation and benefits was down 51% to $2.9bn.