| | Friday 21 December 2012 THOUGHT FOR THE DAY  Riding Down Banker Clause Lane Hello Crazies,
I drew your attention a week or so ago to the banks. I said that though I dare not recommend them as a possible buy, there were a few good things about them which might speed them on their way.
Well, I don't often have the opportunity to say I told you so. But since then, the four big British banks – Honkers Bonkers (HSBA), Barclay (BARC), RSB (RSB) and Lloyds Group (LLOY) have been doing rather well.
They have even shown small gains on days when the Footsie has been in retreat. This is jolly good , but I think there is a little further to go. The banks can have attractive price to earnings ratios and they have small buy and sell spreads. This makes them quite good for short term investment, especially in a bull run which we appear to have now.
Click here to read the rest of the article
Paper Round 'Fiscal cliff', UBS, UK banks
The fate of US negotiations to prevent the fiscal cliff were thrown into turmoil after efforts by Republican leaders in the House of Representatives to pass a back-up plan to prevent most of the looming tax increases collapsed amid a conservative backlash. After calling a dramatic emergency meeting of his own Republican party’s lawmakers, John Boehner, the House speaker, issued a statement saying there would be no vote on Thursday night on the Republican “plan B”, as planned. “The House did not take up the tax measure today because it did not have sufficient support from our members to pass. Now it is up to the president to work with Senator [Harry] Reid on legislation to avert the fiscal cliff,” Mr Boehner said, referring to the Democratic Senate majority leader. [Financial Times]
Investigations into potential Libor rigging at UBS have widened to Hong Kong after the Swiss bank admitted fraud, agreed to pay £940m in fines for manipulating the inter-bank rate, and saw two of its traders charged with conspiracy. The Hong Kong Monetary Authority, the central bank, launched an inquiry into UBS after receiving information from overseas regulators about “possible misconduct” related to the local inter-bank rate, Hibor, and other Asian reference rates. HKMA said it was looking into whether there had been “any material impact on Hibor” and that it would work with foreign regulators to “consider further actions that need to be taken”. [The Telegraph]
The Bank of England must be handed the legal authority to break up banks that misbehave, the Parliamentary Commission into Banking Standards will today tell the Chancellor, George Osborne. The Commission’s chairman Andrew Tyrie told The Independent that the failure to do this could put Britain at risk of a fresh financial crisis. In a 140-page report, coming just two days after UBS was fined more than £900m for attempting to fix Libor interest rates, the Commission said existing plans to reform banking and impose a ring fence to protect retail depositors fell “well short of what is required”. Mr Tyrie also said the revelations of what went on at UBS “beggar belief” and provided “the clearest illustration yet that a great deal more needs to be done to restore standards”. [The Independent]
The chief executive of Deutsche Telekom has revealed surprise plans to step down at the end of next year, ending a 16-year career at the German phones company. René Obermann, who has been in charge for seven years, told the board that he wanted to be closer to the operations of a business and be involved in something more entrepreneurial. Mr Obermann, 49, does not have a job to go to and will not be receiving a payoff, despite having a contract that was not due to expire until late 2016. [The Times]
Peter Madoff will serve 10 years in prison for his role in his older brother's multibillion-dollar Ponzi fraud scheme, a US judge said on Thursday. Peter Madoff, 67, pleaded guilty in June to criminal charges including conspiracy to commit securities fraud for falsifying the books and records of the investment advisory company founded by his brother,Bernard Madoff. He agreed at the time not to oppose a request by prosecutors for a maximum 10-year prison sentence and agreed to an order requiring him to forfeit a symbolic $143.1bn. US district court judge Laura Taylor Swain approved the sentence on Thursday. [The Guardian]
Troubled BlackBerry maker Research In Motion (RIM) lost one million subscribers in the last quarter, the first drop in users in the company's history. The news came as RIM reported better than expected revenues of $2.7bn (£1.6bn), although they were still down 47% compared with last year. Excluding one-time items related to restructuring and other issues, RIM reported a loss of $114m or 22 cents a share for the three months ending 1 December. [The Guardian]
The chief executive of Ofcom has said that he has “no idea” how much the fourth-generation mobile spectrum auction will raise, despite the Chancellor having booked £3.5 billion from it. Announcing the seven telecoms companies that have each paid £100,000 to enter Britain’s biggest spectrum sale, Ed Richards said that the regulator’s prerogative was not to raise the highest amount of money possible, but to ensure efficient use of the spectrum and competition.
Political opponents had accused George Osborne of manipulating the likely receipts when he announced in the Autumn Statement this month that the money from the 4G auction would be accounted for this financial year and spent on new infrastructure projects such as education colleges. Ofcom put a reserve price on the sale of £1.3 billion last month but yesterday refused to estimate how much it thinks the auction will raise. Analysts forecast a total of between £2 billion and £4 billion. [The Times]
TODAY'S TIP ON SHARECRAZY  TMT Investments - Further Demonstrating Its Investment Ability A report from GECR - TMT Investments has increased the value of its investment in video content distribution platform Virool by 25%, to $500,000, in fewer than 4 months following the conversion of its convertible promissory note into preferred shares.
- We are pleased by this announcement as it represents an impressive return in a short period of time, and demonstrates TMT's ability to identify highly attractive, early stage investments.
- The venture capitalist also recently increased its investment in Ninua by a further $200,000 and announced that the social internet application software developer has made some exciting progress with its mainstream Networkedblogs.com product and is ready to intensify its monetisation efforts.
- Given all the progress made so far, we remain confident that TMT Investments has the long-term potential to generate an attractive rate of return for shareholders.
Click here to view the full article
THE LATEST ON THE CRAZY BOARD The top 5 hot company threads on the Bulletin Board: Enterprise Inns Pace Caza Ocado The Running Trading Thread
Click here to discuss shares with other ShareCrazy members |
|
| | | |
| | |
|
If you do not wish to receive such emails please use the following link to unsubscribe. Sharecrazy.com Limited is an Appointed Representative (FSA registered number 245145) of Rivington Street Corporate Finance Limited which is authorized and regulated by the Financial Services Authority (FSA registered number 184761). Sharecrazy.com Limited is ultimately owned by Rivington Street Holdings PLC, 39 Athol Street, Douglas, Isle of Man IM1 1LA, the holding company for other regulated entities such as t1ps.com Limited and Rivington Street Corporate Finance Limited. Sharecrazy.com Limited does not offer investment advice. The website and the articles on it are for general guidance only and we cannot assume legal liability for any errors or omissions they might contain. The value of investments can go down as well as up and you may not get back the full amount you invested. If you are in any doubt about investing, seek the guidance of a suitably qualified and regulated financial adviser.
The appearance of an advert does not mean that we endorse the advertiser's goods or services. While we will not knowingly run an advert that is untrue, T1ps.com is not responsible for the accuracy of any advertising material or the accuracy of the description of an advertised product or service anywhere on our websites.
We do not recommend or endorse any vendor/trainer/product/service other than our own. It is up to each member to decide whether what an advertiser offers is right for you. We take every care to ensure that scams and spamming are not run on this website, but we recommend that any purchaser/service user take every precaution possible to satisfy themselves of the authenticity of any service/product purchased and responsibility for this lies solely with the purchaser.
The appearance of an advert on the site or via email from ShareCrazy.com does not mean that we endorse the advertiser's goods or services. While we will not knowingly run an advert that is untrue, ShareCrazy.com is not responsible for the accuracy of any advertising material or the accuracy of the description of an advertised product or service anywhere on our websites.
We do not recommend or endorse any vendor/trainer/product/service other than our own. It is up to each member to decide whether what an advertiser offers is right for you. We take every care to ensure that scams and spamming are not run on this website, but we recommend that any purchaser/service user take every precaution possible to satisfy themselves of the authenticity of any service/product purchased and responsibility for this lies solely with the purchaser.
The appearance of an advert does not mean that we endorse the advertiser's goods or services. While we will not knowingly run an advert that is untrue, ShareCrazy.com is not responsible for the accuracy of any advertising material or the accuracy of the description of an advertised product or service anywhere on our websites.
We do not recommend or endorse any vendor/trainer/product/service other than our own. It is up to each member to decide whether what an advertiser offers is right for you. We take every care to ensure that scams and spamming are not run on this website, but we recommend that any purchaser/service user take every precaution possible to satisfy themselves of the authenticity of any service/product purchased and responsibility for this lies solely with the purchaser.
No comments:
Post a Comment