O/T bbc bias apology

[great_fire]

That's a weak point. Outside the biased lens of your news sources a factory closing in Barcelona isn't exactly front page headline news.

When it was breaking news it should have been on the front page.

How is a possible "minor breach" of lockdown rules more important than the dire economic situation we're in?

Yet the media is hardly covering it.

You have to watch RT or Al-Jazeera now to see all the news that the BBC/ ITN / Sky are deliberately ignoring.

[John2]

You have to watch RT or Al-Jazeera now to see all the news that the BBC/ ITN / Sky are deliberately ignoring.

I don't know what planet you're on.

The BBC is clearly covering it in a detailed article.

You're so biased that you think it should be a front page deadline when obviously it is nothing of the sort. Do you think every news story is a front page headline? When its breaking news that League Two voted on PPG, should that have been on the front page?

[John2]

Your last paragraph is agreeable, our financial services however, wont suffer we are ahead of the curve in many respects.

The current economic and political wrangling in the EU at the moment is making many companies think twice about their future there, its possibly at its most unstable in its history after Karlsrushe. If they can find a way to mutualise future debt its a dead duck.

UAE biggest investment fund has just put £7.5bn in guess where? UK listed companies, now BJ has announce he is backing tech watch the investment flood in.

We can also get rid of cross regs which do the same thing in triplicate

Just LOL.

Do we have an agreement for passporting of financial services beyond the end of the year? A simple yes or no will suffice.

I need to read more detail about this UAE fund to establish what you're trying to suggest it proves. Do you have a link? A quick look didn't reveal any obvious info.

[gm_gm]

Just LOL.

Do we have an agreement for passporting of financial services beyond the end of the year? A simple yes or no will suffice.

I need to read more detail about this UAE fund to establish what you're trying to suggest it proves. Do you have a link? A quick look didn't reveal any obvious info.

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

[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.

[great_fire]

I don't know what planet you're on.

The BBC is clearly covering it in a detailed article.

You're so biased that you think it should be a front page deadline when obviously it is nothing of the sort. Do you think every news story is a front page headline? When its breaking news that League Two voted on PPG, should that have been on the front page?

If you look at all the crappy non-stories they have on their home page then this should have been on it, we know the reason why it wasn't we saw the wake they held when we left the EU.

[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