I agree. It's cheeky of Lloyds to try to hide behind Brexit and use the vote as an excuse for redundancies. Given we have little idea of the kind of deal that will be struck between the UK and EU, and of other trade and economic deals that the UK will strike with other countries, Lloyds should be more honest. Since the 2008 bank crash, there have been a lot of redundancies and a lot of restructuring in the banking sector, and that remains on-going. Also, the global economic situation is certainly challenging, with the issues in China and Italy remaining serious.
Brexit thread - what happens next
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I agree. It's cheeky of Lloyds to try to hide behind Brexit and use the vote as an excuse for redundancies. Given we have little idea of the kind of deal that will be struck between the UK and EU, and of other trade and economic deals that the UK will strike with other countries, Lloyds should be more honest. Since the 2008 bank crash, there have been a lot of redundancies and a lot of restructuring in the banking sector, and that remains on-going. Also, the global economic situation is certainly challenging, with the issues in China and Italy remaining serious.
Soldato
Apart from they've said themselves that its not really to do with Brexit.
Its part of their ongoing restructure and the realisation that bank branches are no longer very profitable.
Soldato
Its certain that Brexit is partly behind the LLoyds issue.
Lets face it most big/huge businesses will have looked at the Brexit situation in some detail, which is why some of them pre Brexit made statements to support or discourage the Brexit vote.
So its not surprising that post Brexit some plans would be quickly drawn up based on already expected results and implemented.
Although, by far the biggest problem for the "old" banks is the massive highstreet network they have, when most people prefer an app, then the internet, then the phone, in that order.
When you have something more difficult to resolve you probably go to a branch, but otherwise, why would you?
Long term I don't think you will see hardly any large highstreet branches. Most of the items they are dealing with can be done online. I dont see the need for an expensive branch network to have to be maintained so the bloke from the penny arcade has somewhere to pay his takings in.
Technology is killing highstreet banks, other factors (such as Brexit) just have the ability to accelerate or brake that trend, but its going to continue if you ask me.
Lets face it most big/huge businesses will have looked at the Brexit situation in some detail, which is why some of them pre Brexit made statements to support or discourage the Brexit vote.
So its not surprising that post Brexit some plans would be quickly drawn up based on already expected results and implemented.
Although, by far the biggest problem for the "old" banks is the massive highstreet network they have, when most people prefer an app, then the internet, then the phone, in that order.
When you have something more difficult to resolve you probably go to a branch, but otherwise, why would you?
Long term I don't think you will see hardly any large highstreet branches. Most of the items they are dealing with can be done online. I dont see the need for an expensive branch network to have to be maintained so the bloke from the penny arcade has somewhere to pay his takings in.
Technology is killing highstreet banks, other factors (such as Brexit) just have the ability to accelerate or brake that trend, but its going to continue if you ask me.
Soldato
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Soldato
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Caporegime
No surprises there. There's going to be a lot of guff spoken about how this bad thing is because of Brexit and that good thing shows Brexit isn't bad. Whereas, in fact, most of what goes on in the economy will still be independent of Brexit.
We need good quality summary data to get an impression of the impact that Brexit has and that won't come through for some months yet.
Soldato
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Opportunists tend to exploit instability to restructure, for good or ill. And yet Liam Fox believes we should deregulate more and chase the American dream further still (presumably to better integrate with NAFTA, or some such scheme); at least two vocal men across the pond assert that said dream's dead, one could be the country's next president. And we all know how Foxy's recent trip went. You can't make it up!
We'll see how Hammond reacts in autumn.
Pretty sure there was a guy on the radio this morning saying it was because of the interest rates. To be fair they never mentioned Brexit.
Caporegime
I did not say anything about alternative Governments, just that I do not trust this one.
Soldato
So you thought you would add it in there for shiz and giggles?
http://www.huffingtonpost.com/tobias-stone/history-tells-us-what-will-brexit-trump_b_11179774.html
If you are going to scare monger that is doing it properly.
It is also sadly much closer to what I believe to be the truth than is comfortable.
If you are going to scare monger that is doing it properly.
It is also sadly much closer to what I believe to be the truth than is comfortable.
Soldato
The same Lloyds Bank that lost a ton of money by betting on remain?
The Lloyds decision seems to have been made before Brexit. But in other news:
https://next.ft.com/content/5f20ead4-54c5-11e6-9664-e0bdc13c3bef
http://www.independent.co.uk/news/b...it-eu-referendum-bhs-tata-steel-a7156491.html
http://www.independent.co.uk/news/u...brexit-will-destroy-the-economy-a7152306.html
https://next.ft.com/content/5f20ead4-54c5-11e6-9664-e0bdc13c3bef
http://www.independent.co.uk/news/b...it-eu-referendum-bhs-tata-steel-a7156491.html
http://www.independent.co.uk/news/u...brexit-will-destroy-the-economy-a7152306.html
equally though its a 2 billion pound gain in funds for general spending.
Yes, a right wing government i would say is best for moving into the unknown.
a left wing government is better for peaceful calm times where everything is good and we can expand certain social programs.
uncertainty and risk favour a more conservative approach though.
Pee'd off remainers will be blaming stubbing their toe on Brexit for the next 5 years at least.
Even if they'd just drunk 10 pints and were running round the house with a pair of crusty underpants on their head at the time.
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Soldato
Soldato
You still think UK is leaving, that's nice.
It's true, i voted to Leave and i can see that the referendum has been buried.
The article triggering will get postboned and postboned and May and Merkel will need just a little more time....and then some more excuses and then come 2018 "ah it was only advisory and a lot has changed since 2016" and with all that time passing most of the public will have forgotten about the vote leading the UK to have worked out some sort of deal with the EU and Scotland to remain.
Soldato
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You still think UK is leaving, that's nice.
Sales of tin foil clearly not affected by Brexit then.
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