O/T bbc bias apology

[John2]

Cant find the link to the investment at the moment but I hope you will accept the point.

In relation to passporting (not sure of your level of understanding on this as it goes much further that the headlines) if it doesnt happen or there are no other mechanisms to support CRD and Insolvancy directives then I'll eat my hat

EDIT..it was the Saudi PIF that invested in BP, Carnival, LNE, Shell, SN and other ...also to be the new owners of Newcastle

So we've gone from an UAE country investing £7.5bn in UK listed companies...

Now suddenly you meant the Saudi PAF and you mention a load of global companies which have almost zero to do with having confidence in the UK, are you sure they even bought all UK listed stocks? Still no link?

So no, I have no idea what your point is, and I'm not sure you do either?

I hope you're right and that things change, but I guess that as things stand you accept the answer is currently a no on passporting and that we need a deal at the mercy of the EU to get it?

This is fun isn't it.

[gm_gm]

So we've gone from an UAE country investing £7.5bn in UK listed companies...

Now suddenly you meant the Saudi PAF and you mention a load of global companies which have almost zero to do with having confidence in the UK, are you sure they even bought all UK listed stocks? Still no link?

So no, I have no idea what your point is, and I'm not sure you do either?

I hope you're right and that things change, but I guess that as things stand you accept the answer is currently a no on passporting and that we need a deal at the mercy of the EU to get it?

This is fun isn't it.

Same difference as it’s a company willing to invest in UK stock, they could have invested somewhere in the EU but choose here!

Have a read up on what passporting actually is, what it’s for and it’s key components are as you clearly have been reading headlined not the detail.

1 in 3 of all worldwide trades go through LSE so when the music stops only one person will be able to sit down, happy to wager it won’t be the doom and gloom you predicted

[John2]

Same difference as it’s a company willing to invest in UK stock, they could have invested somewhere in the EU but choose here!

Have a read up on what passporting actually is, what it’s for and it’s key components are as you clearly have been reading headlined not the detail.

1 in 3 of all worldwide trades go through LSE so when the music stops only one person will be able to sit down, happy to wager it won’t be the doom and gloom you predicted

It's quite hilarious that you say I'm focusing on the headline but not the detail...

You've seen a headline that Saudi PIF has invested in BP, Carnival, Shell, etc. - though I still don't have a link?

I can find an article I suspect you've misinterpreted that says "Saudi Arabia’s sovereign wealth fund snapped up stakes worth at least $7.7bn in US and European blue-chip companies during the first three months of the year as it aggressively hunts assets at knockdown prices during the coronavirus pandemic."

This figure includes companies like Boeing which certainly has nothing to do with the UK, so I suspect your entire argument is a nonsense anyway, but I shall proceed anyway... (I'll await that link)

I'm honestly not sure that you properly understand what stock exchanges are.

They are merely private companies that exist to trade shares in companies.

For giant global companies, they can actually have stock listings on multiple exchanges. For example from your list both Shell and Carnival have listings on the London stock exchange as well as in other countries. The fact these giant multinationals are listed on stock exchanges is a legacy of our being the centre of the financial world for a long time. It in no way has anything to do with Brexit.

You seem to be under the flawed assumption that a strong stock market equates to a strong economy.

In reality, the giant global publicly traded companies are likely to perform well regardless of Brexit.

When measuring the impact on the economy, you want to look at investment in companies with their operations centred out of the UK, you want to look at GDP and various other metrics.

If you focus on the performance of 100 multinationals that thrive on a weak pound, you miss the bigger picture of potentially hundreds of thousands of smaller companies struggling.

Stock markets don't tell us what you think they do. Also, you've got a confirmation bias - Saudi PIF hasn't magically invested in the UK as it thinks we're going to thrive after Brexit. It's invested in loads of companies all over the world. You've just cherry picked the ones that happen to be listed in the UK and decided that supports your argument when its really quite meaningless.

I look forward to your response.

[John2]

I looked at passporting in more detail, and it means exactly what I had understood it to mean in the event of us not coming to some sort of agreement with the EU.

"The impact of lost passporting rights on the UK financial services sector and its economy could be huge. About 5,500 British financial services firms have passporting rights pre-Brexit. The loss of EEA passporting rights could mean the disruption of as much as 20 percent of the UK’s investment and capital markets revenue. In just a few years after losing the passport, the UK could lose 10,000 finance jobs, which could have a serious impact on the economy, especially since those jobs tend to be higher-paying. Without regulatory equivalence post-Brexit, the UK financial services industry could lose as many as 35,000 jobs. That could mean a loss of £5 billion of tax revenue seven percent of the UK’s total economic output."
https://www.investopedia.com/terms/p/passporting.asp

You'll have to tell me what you think I'm missing.

[gm_gm]

I looked at passporting in more detail, and it means exactly what I had understood it to mean in the event of us not coming to some sort of agreement with the EU.

"The impact of lost passporting rights on the UK financial services sector and its economy could be huge. About 5,500 British financial services firms have passporting rights pre-Brexit. The loss of EEA passporting rights could mean the disruption of as much as 20 percent of the UK’s investment and capital markets revenue. In just a few years after losing the passport, the UK could lose 10,000 finance jobs, which could have a serious impact on the economy, especially since those jobs tend to be higher-paying. Without regulatory equivalence post-Brexit, the UK financial services industry could lose as many as 35,000 jobs. That could mean a loss of £5 billion of tax revenue seven percent of the UK’s total economic output."
https://www.investopedia.com/terms/p/passporting.asp

You'll have to tell me what you think I'm missing.

Pretty much as I suspected you have googled some headlines that aren’t based on any facts.

Your knowledge of what passporting is is basically zilch! As I suspected let’s fact check the world of John2.

Name the 10 key components of the ECD in connection with passporting
Which EU countries prohibit shorts even though it’s not covered in ECD passporting legislation
How does Basle3 impact on passporting

No looking at Johnopedia

Ps.lli know the answers to the above without 5he need for Johnopedia

[John2]

Pretty much as I suspected you have googled some headlines that aren’t based on any facts.

Your knowledge of what passporting is is basically zilch! As I suspected let’s fact check the world of John2.

Name the 10 key components of the ECD in connection with passporting
Which EU countries prohibit shorts even though it’s not covered in ECD passporting legislation
How does Basle3 impact on passporting

No looking at Johnopedia

Ps.lli know the answers to the above without 5he need for Johnopedia

lol. You're trying to muddy the argument with waffle because you've been exposed.

There's no such thing as an ECD for starters.

I'll chase you a little for fun, can you tell me what the relevance of some countries prohibiting shorts is on the ability of financial services in the UK being allowed to continue if we don't have a Brexit deal? You're just spouting irrelevance as you've missed the point and also shown that you don't really understand stock markets.

Still waiting for that link. I'll not hold my breath.

[gm_gm]

Y

lol. You're trying to muddy the argument with waffle because you've been exposed.

There's no such thing as an ECD for starters.

I'll chase you a little for fun, can you tell me what the relevance of some countries prohibiting shorts is on the ability of financial services in the UK being allowed to continue if we don't have a Brexit deal? You're just spouting irrelevance as you've missed the point and also shown that you don't really understand stock markets.

Still waiting for that link. I'll not hold my breath.

ECD is the European Credit Directive, you fell into the trap!

John, I’ve spent 31 years working in financial institutions, I’ve worked for one of the biggest companies in the world, I’ve help one of the biggest pizza chains franchise, I’ve taken a company (that I owned) from start up to £3m, there are at least 15 people on here who have asked for my advice and k ow who I am.

Googling aside I can talk you through the EU non mutualised bonds what the impact is....looking at your posts you are a computer geek who doesn’t know anything about financial affairs

Happy to share email addresses to discuss (not abuse) I spend my life doing this ....but 19 mins on google and you are a professor ...lol

Ps..there’s also the MCD....have you read the 900 pages of the Basel 3..I have

[John2]

Y

ECD is the European Credit Directive, you fell into the trap!

LOL, no I didn't. There is no such thing as the European Credit Directive - can you provide a link? Do you mean the Capital Requirements Directive (CRD IV)?