Brexit watch

Started by Nick, October 20, 2016, 17:02:39 pm

Previous topic - Next topic

Nick and 4 Guests are viewing this topic.

Slim

I don't believe I'd ever seen this Fry & Laurie sketch before .. Stephen Fry's performance here uncannily reminiscent of Cameron returning from Brussels a year ago with his renegotiated deal


https://www.youtube.com/watch?v=b4m_ajuNmSA

NeilP

Rolls Royce, the jet engine maker, has reported a record loss of £4.6bn. Some of that (£671M) is down to some dodgy deals and settlements, but a fair bit is an indicator of how business works when costs are priced in £s and sales priced in US $. A pattern we will no doubt see repeating.

http://www.bbc.co.uk/news/business-38966165

Slim

As the piece says it's because they tried to protect themselves against a fall in the dollar by gambling on the currency markets. The fall in the £ that was provoked by the Brexit result would most likely have been advantageous to them, like it has been to other British businesses - if they'd left alone. Most businesses don't do this, as far as I'm aware. And being caught out by a referendum is (hopefully) a one-off event.

I used to work for RR and the culture, and the inside joke was that they over-engineer everything.  Looks like it extends to their financial arrangements, as well.

Nïckslïkk2112

Quote from: Slim on February 15, 2017, 19:53:43 pm
As the piece says it's because they tried to protect themselves against a fall in the dollar by gambling on the currency markets. The fall in the £ that was provoked by the Brexit result would most likely have been advantageous to them, like it has been to other British businesses

Yup, RR will have gained on their $ sales. That's why firms hedge their currencies, to minimise exposure to moving exchange rates.

QuoteMost businesses don't do this, as far as I'm aware.

The chemicals company I used to work for used to hedge their currency exposure. We were dealing in chemicals priced in $ and € and I had to submit our weekly currency needs to head office so we could hedge them.
Legend in my own Mind


DavidL

Quote from: Slim on February 15, 2017, 19:53:43 pm
As the piece says it's because they tried to protect themselves against a fall in the dollar by gambling on the currency markets. The fall in the £ that was provoked by the Brexit result would most likely have been advantageous to them, like it has been to other British businesses - if they'd left alone. Most businesses don't do this, as far as I'm aware. And being caught out by a referendum is (hopefully) a one-off event.

I used to work for RR and the culture, and the inside joke was that they over-engineer everything.  Looks like it extends to their financial arrangements, as well.
They've also been forced to change the way they account for income from maintenance contracts. I believe they are no longer allowed to state total income from extended contracts (over many years) on the accounts for one year. This change in their accounting practice was expected to make a big hole in the accounts this year.

Nïckslïkk2112

I see Tony Bliar is calling for the people to "rise up" against Brexit.

http://www.bbc.co.uk/news/uk-politics-38996179

The damnable cheek and hubris of the "man", why thinks his views should carry great weight is beyond me, the man is a totally contemptible, he should be behind bars for war crimes.
Apparently we are to be bombarded with "facts" to tell us how much we will be worse off under Brexit. Sorry BLiar, there are no "facts" either way. All I know is is that I do not want to be subsumed into a Federal Euro state which is the EU End game.
Legend in my own Mind


Matt2112

Exactly - Blair is a patronising, narcissistic, avaricious snake with a chronically inflated sense of his own importance; 'twas always thus.  Classic Dunning-Kruger effect in action.
The keys to happiness

döm

Quote from: Matt2112 on February 17, 2017, 09:49:37 am
Exactly - Blair is a patronising, narcissistic, avaricious snake with a chronically inflated sense of his own importance; 'twas always thus.  Classic Dunning-Kruger effect in action.



you mean he's a politician ?
You can check out any time you like but you can never leave!

Slim

Blair's intervention is exactly what I mean when I use the term "Remoaner". I don't mind people continuing to repeat ad nauseam that we'll be worse off outside the EU; that's fine, It's wrong, but if people feel strongly about it, feel free. It might be a waste of time now that the matter's decided but go ahead and express your opinion by all means.

But this attitude that we weren't entitled to a particular outcome in the referendum, or that we should have however many referenda it takes until we come up with an answer that the likes of Blair and Farron deem acceptable - that's what many people object to. Ten or fifteen years ago the received wisdom was that the general public were apathetic about politics. I don't think they are now, but unfortunately that apathy has been replaced by contempt and disgust.  The spectacle of the only successful Labour leader since Harold Wilson loudly condemning the majority of ordinary people in having a say in who governs them can only reinforce that contempt.

DavidL

I can't really think of anything that could undermine the Remoaners' case against Brexit more than the intervention of the multi-millionaire charlatan that is Bliar. Another whingeing europhile that cannot accept that the 'thick and ill-informed' voting public gave him and his ilk a bloody nose on June 23rd - contemptuous, arrogant tosser.

Matt2112

Quote from: döm on February 17, 2017, 09:55:47 am

you mean he's a politician ?



He embodies the very worst traits associated with that profession more than any other contemporary British politician I can think of.
The keys to happiness

döm

Quote from: Matt2112 on February 17, 2017, 15:09:33 pm

He embodies the very worst traits associated with that profession more than any other contemporary British politician I can think of.



There are lots who I can think of. Plenty in the UK who didn't reach his level but plenty on the World stage who reached the top of their respective political ladders.
You can check out any time you like but you can never leave!

Matt2112

Quote from: döm on February 17, 2017, 15:49:00 pm

There are lots who I can think of. Plenty in the UK who didn't reach his level but plenty on the World stage who reached the top of their respective political ladders.



Indeed, I was careful to be specific as there are some seriously nasty pieces of work about - always have been, probably always will be.
The keys to happiness

döm

Unilever and Vauxhall. 1st major industrial casualties of Brexit?
You can check out any time you like but you can never leave!

Nïckslïkk2112

Quote from: döm on February 17, 2017, 18:48:56 pm
Unilever and Vauxhall. 1st major industrial casualties of Brexit?

No. Don't forget Unilever is Anglo/Dutch - unless Kraft *spits* are factoring in Geert Wilders taking over flatland.
And possibly yes. But then again French companies shutting down their British operations in preference to their own will be nothing new at all.
Legend in my own Mind