DEUTSCHE BANK DOOMED. Update 7 Oct., 2016

DEUTSCHE BANK

FRANKFURT

Update 7 October,2016 -- Shares dropped down to its lowest lever since 1980. The Deutsche Bank had a dramatic recovery and there are reports that it could cut a deal with the US regulators. The bank received a £10.5billion penalty, which could cripple it, for  allegedly  mis-selling mortgage investments before 2008. Hopes are that it would be reduced down to £4billion.

Deutsche Bank is heading for a crisis. It is Germany's biggest bank. It must be serious because one of the former  Brussels economy adviser was tempted to state that Britain was right to get out of the EU.

Share dropped when the chief tried to reassure investors.

On Friday EU leaders were trying hard to find a way to rescue Germany's biggest financial institution.

The fear is that it could have a domino effect and spread a catastrophe across Europe.

The draconian EU stated that a similar bail-out of the Deutsche Bank by Germany's Government would be illegal.

Professor Brian Sturgess, managing editor  of World Economy and former European Commission Adviser said: "This highlights why British voter made the right decision to get out of the EU. The EU is faced with an impossible situation. The rising probability that Deutsche  Bank will require a bail-out illustrates the contradictions in the EU project."

British people would have voted for a Brexit years ago if Cameron did not constantly avoid a referendum. It must have been for somebody's benefit?

Even now the votes would have been much higher if Cameron and his Tories did not tell so many lies convincing some of his faithful.

What happened when he lost? He did not have the courage to face the music, resigned and shortly after even got out of Parliament. He was a king of false promises all his years as a PM and caused great damage to the country and its people.

To be sure he still cashes in with both hands, left, right and centre like his great pal Tony Blair.  

BUYOUT BARONS GET SET TO SELL

According to a report in the Evening Standard private equity firms are gearing up to sell big chunks of their stock market investments if London's markets rally following a vote to remain in the EU.

For the Mr Average an explanation. There is a Lock-up periods to stop firms selling shares for a certain period. This period ended in April or May. The firms decided not to sell because of the uncertainty over the referendum.

Now Bankers decided to sell under so called Block trades  which are big chunks of company shares to sell all at once for private equity firms if REMAIN wins on June 23.

Now this is a real threat not just scaremongering.

One Banker said: "A number of houses are looking to do big block trades. There will be two or three-week window after the referendum when everyone is calmer."

UK block trades have held back and had a low from January till May period at £10billion according to Dealogic figures. It is worse in Europe where block trades dropped by 82 per cent which resulted for the year ending May to £30billion.

HSBC BANK NEW PAY POLICY Updated 16 Dec., 2016

 

STUART GULLIVER
 CHIEF EXECUTIVE

  

BBC announced that HSBC lost 14 per cent profit in its first-quarter.

HSBC is now going to axe 6,000 staff.

After a great revolt by the shareholder at the announcement that the Chief Executive should receive a £14million pay, including bonus and dividends HSBC now bringing a new pay policy in. It is supposed to reduce the pay to Chief executives by seven per cent.

HSBC is Europe's biggest bank, The new pay policy also reduces the pension from 50 per cent to 30 per cent of their salary. Furthermore, the long-term incentives subject to a three year forward-looking performance period.
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The proposal was agreed by 96 per cent of the shareholders giving overwhelming support for chief executive Stuart Gulliver's £7,3million pay package for 2015 which was reduced from £7,61milllion.

Changes had to be made provoked by the anger of investors of Boardroom remuneration. It was also caused at BP and Anglo American. It is nothing but high time that huge sums of money to chief executives are being curbed and should even be more. A pay of £7,3million to any man can surely not be justifiable.

Salaries and bonuses to chief executives across the world and industries are blown out of all proportion.

Even a leading body from the City stated that the system for rewarding executives at UK-listed companies was "not fit for purpose."

HSBC chairman Douglas Flint said: "The board was acutely aware for the performance of its shares, which have fallen by more than one fifth since last year's annual meeting."

He told investors: "We had expected that the remuneration policy you approved back in 2014 would not need to be refreshed until it expired next year.

"However, regulatory changes as well as responding to shareholder feedback have caused us to make some revisions to this and so we are bringing it back for your consideration this year. The impact of the new policy is to lower the maximum opportunity for the executive directors by around 7 per cent."
Mr Gulliver said: "The global economic outlook was uncertain but HSBC remained committed to paying higher dividends subject to long-term profitability.

"By the end of 2017, we will have further simplified the organisation, addressed the biggest drags on our performance and refocused the business to capitalise on the opportunity we are privileged to have access to through our strong presence in Asia."

　

FAST TRACK FOR REFUGEES

Europe is overrun with refugees. They are trying to find a way to offload them to various countries. Each European country is already full with refugees and struggle to stop more to cross their borders. There is a huge problem on both sites and has nothing to do with racism.

Now to add to it judges have thrown Britain’s borders wide open by declaring that four refugees from Syria were allowed into the UK without having their claims checked at the France asylum system. The reason is they have family already in the UK and want to join them.
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The Home Office already turned their application for asylum down but their lawyers in Britain successfully reversed that decision. According to the report they received Legal Aid which leaves a question of being entitled to Legal Aid when they are not in Britain?. It will open a flood gate to thousands of migrants living in Calais and nothing stops them from coming to Britain due to the ridiculous Human Rights

It will also be a bonanza for the lawyers creating mountains of cases in the courts and all paid by the taxpayers.  Where are the Human Rights for the starving families who are so degraded they have to rely on food banks and disabled people when their benefits are cut? 

It is understandable from their point of view but it will start an avalanche of refugees being able to enter the UK on a fast-track.  It is not contemptible but will mean another huge number of people coming to the UK. At the same time British people are getting more and more squeezed financially and koining a longer list for social housing. It will create bitterness amongst British people which is understandable.

UK has already financial and economical problems plus the number of immigrants coming to this country over the last few years has already exceeded the limit. This again has nothing to do with racialism but with everything else there is a limit.

Now European countries all aching under the huge influx of refugees from Syria and the rest of Africa.  All the European countries have already taken their full share but the refugee’s crisis does not lessen but instead increases every year.

The real culprit is as mostly the USA. They started wars in the Middle East in 2010. It is only natural that people flee the shooting and bombing. Especially in Syria were it increases constantly but the USA was never a target for the refugees and now decided to close their borders against them altogether.

Looking back over decades the USA caused a lot of unnecessary trouble and destruction but it is always Europe where it backfires on. When that happened the USA is nowhere to be seen to solve the problem.

CHANCELLOR GEORGE OSBORNE SPOKE OF INFRASTRUCTURES

                                                                              IS IT ANOTHER MIRAGE?  OR WAS HE

  TALKING ABOUT THE HS2?

Chancellor George Osborne gave again a great speech at the Nation Railway Museum at York, of all places. Let’s hope all his promises come true.

He has new plans now and will establish a National Infrastructure Commission. Another body which will have to be paid for by the taxpayers.

Mr Osborne said: “We haven’t done enough of that in our country in the past. And as a result British people have to spend longer than they should getting to work:  they pay more than they should in energy bills: they can’t buy the homes they want, all because of the failure of successive government and the society that elects those government – to think long terms.”

Sounds impressive but when you look at it, it was Thatcher who ruined the country and ended up with five million unemployed. Labour pulled it out of the mud and now we have Tories again running the country into a standstill with their endless cuts.

George Osborne added:” That has started to change. New railway links are being laid, new roads are being built and new broadband is being installed. Britain has rediscovered it’s ambitious and we are thinking big again.”

The only project most probably will succeed is the Tory’s beloved H2S

If he meant what he said why was the £36billion modernisation project of the Northern Railways cancelled?

The commission will oversee a ‘promised’ £100billion spend by 2020.

Their priority will be linking big northern cities with London. Doesn’t it smell of H2S?

George Osborne had a 5.4 percent fall in infrastructure project investment since he became Chancellor in 2010. He announced several sales of assets to finance the bill of the projects.

The National Infrastructure Commission will work independently in areas like Transport, Energy, communication and Flood defences.  It will collect evidences and issues reports.

Labour’s Shadow  Chancellor John McDonnell said that while he supposed to establish of a commission, it would be ineffective unless the government commits the necessary funds to infrastructure projects.

Andrew Andonis will be head of the commissions and Michael Hesseltine.

Mr McDonnell added: “But the reality- you can set up these commissions but unless you commit the finance of the projects themselves they’ll simply produce reports that gain the dust of ministers’ shelves. That is the problem under George Osborne infrastructure spending has declined even further every year and his current Charter for Budget Responsibility is to decline even further we are just not matching our European competition, which means in the long run, we will not be able to compete in a global market.”

EU PROMISED TO STOP PEOPLE SMUGGLERS - UPDATE 13 May, 2016

UPDATE: 13 May, 2016 --
A report from the House of Lords' EU Committee  revealed that the Operation Sofia  run by the EU Navy to stem the migration has failed. The Human Traffickers are now using rubber dingy instead of wooden boats. It make the hazardous journey across the Mediterranean twice as dangerous.

UPDATE: So far there was no difference; on the contrary  migrants doubled last year entering Europe and in February 2016 they even doubled on last years February.  

EU or Brussels retract their statement and paying Turkey £4,5billion making all EU member paying a share. UK has to pay £500million. Brussels announced that it cannot close its European borders which is against Schenker's agreement. What kind of organisation as we paying?

The Operation Sophia will start today, 7 October, 2015, and gave power to the EU naval vessel to board, search, seize and divert vessel suspected of human traffic.

So far the EU was only surveillance and rescue people but now with the unacceptable high number of migrants crossing the Mediterranean from North Africa they are forced to take a more aggressive step.

 The migrants are mainly enticed by smugglers who are purely for their financial gain.

It has been reported that some days there are about 20 boats leaving the coast of Libya.

The only draw-back at the Operation Sophia is that the EU naval vessel has to stay in International waters which are 12 nautical miles from Libya.

It is a step into the right direction to stop human smugglers trafficking people. This year, so far, there are more than 130,000 migrants and refugees crossing the Mediterranean and 2,700 have drowned.

At the moment there are five warships equipped with helicopters and drones operating to seize smugglers. It is hoped that eventually the UN Security Council and Libya will allow the warships to enter Libya’s territorial waters to operate more efficiently.

German Chancellor Angela Merkel and France President Francois Hollande take the unusual step to address together the European Parliament in Strasbourg on Wednesday, 7 October, 2015.

A top migrants' expert advised to be more efficient in stopping people trafficking they also have to fight the criminal gangs in Europe. Their operation had become so organised and lucrative that is it now the second most criminal trade after arms smuggling.

To be able to pay at least £657 for a journey from Turkey to a Greek Island the migrants must have a very lucrative business at their home land. The mind boggles what business that would accumulate that amount of money in their currency.

Mr Ambrossi, IOM European regional head, said: “the transnational criminal rings of traffickers are the same as those involved in weapons and drugs.  So far the criminals who really causing the crises remain untouched.”

Mr Ambrossi also pointed out that there is an organised Black Market Jobs encouraging migrants to enter EU illegally. Hundreds or thousands are working as fruit and vegetable pickers for very low wages, which is a lot more than they get back home, and they live in terrible conditions.”

Theresa May, Home Secretary, who is responsible for the Border Force (immigration when entering the UK) spoke about it at the Conservative Party Conference about the problems the huge number of refugees and migrants coming into the UK. If it were not so serious it would be a joke and laugh because Ms May as a Home Secretary is responsible or should be for the Border Force to stop migrants to enter the UK. 

Therefore it is unbelievable Ms May addressing the Party Conference about it.

WINTER SPORT CALLED CURLING

There is a bit of confusion over who invented the sport of curling and where.

The winter-sport called curling was first mention in 1838 and the first curling .club was established in Edinburgh. Scottish people claim that they invented the sport. However, it was discover that the game was around much longer. In a painting by the Flemish master Pieter Bruegel named 'Hunters in the Snow' in 1565, it shows a curling match was going on in the background.

Apparently the curling sport was in existence since the 16th century in Scotland. A curling stone was discovered in a pond with the description of 1511, when the pond was drained in Dunblane, Scotland. Kilsyth Curling Club was the first club in the world establish in 1716 and it still exists today. There is also the old purpose-built curling pond at Colzium.

CURLING MATCH AT EGLINGTON CASTLE, AYRHSIRE, SCOTLAND 1860

OLD-STYLE CURLING STONE

CURLING STONE OR ROCK - MADE OF GRANITE

The word curling first appeared in a poem by Henry Adamson in 1820 in Perth.

Curling supplies

To begin with there were simply flat-bottom rocks from the river and you had no control over it.

A record exists in Darvel, East Ayrshire, that the weavers used their heavy stone weights from the beams. They fitted a detachable brass handle. The wife kept it on the mantelpiece and polished it.

Outdoor curling game was played between the 16th and 19th century. The home of the World Curling Federation is in Perth, Scotland. The Game was taken to Canada by Scottish immigrants. The Royal Montreal Curling Club established in 1807 and is the oldest and still active in North America.

From the 1830 the game was introduced to the USA and it spread to Switzerland and Sweden by the end of the 19th century. Nowadays, it is played in Europe, Japan, Australia, New Zealand, China and Korea.

The International Curling Federation is holding an annual World Championship but it is won mostly by Canada.

The so-called 'bowl' is a round stone with a curved handle. The rink is 42m long and the curlers skim it along on ice. The aim is to get the bowl as closed or closed to the target (house) which consists of a set of circle on the ice.

Curling rules

The team consists of four players and a point is scored when one of their stones ends up closest to the house's centre (tee). They will also score another point for their stone when it is nearer the tee than their opponents' best try.

This curling game has also the name of 'roaring game' because when stone is skidding along on the ice you can hear a rumbling. When you watch a curling game you can see them frantically sweeping in front of the bowl. The reason for that is to ensure the surface is smooth to enable the bowl to get as closed as possible to the tee.

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