An amalgamation of the 2, actress Diane Coupland played Jean Abbott........
Off Topic The Politics Thread
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An amalgamation of the 2, actress Diane Coupland played Jean Abbott........
Thats the point though. Even if they forward FX hedged it
To use some figures
Revenue $150 when converted to £ is 100
FX Sell $150, Buy £100 at 1.5 GBP/USD
to lock in your revenue at £100
FX Falls to 1.0 (lets say)
Your FX deal has lost £50 as you can get £150 from the $150 you sold earlier.
However you still have your $150 that is worth 150 quid now on paper which is a gain of £50.
Overall your revenue is still at £100. You haven't made or lost any money because of the currency fluctuation although when looking at the FX deal you have made a 'loss'.
Be interesting to know the exact details but i don't care enough to go research
You're assuming a very simple hedge with this. Most hedging these days are a lot more complicated including options, rate swaps etc. Also a large part of the loss is fines that was levied on them by the US and UK governments.
Tramore watch the BBC program 'After Brexit' on catch up. It was on Thursday. That will tell you all you need to know about the EU future.
I watched a bit of the Live European Parliament yesterday and I could not believe the amount of MEP's from various countries that were knocking the EU. Seriously I thought it was only Farage. The whole thing is in trouble and the usual suspects are walking around in an EU bubble with their fingers in their ears.
Before people knock our Brexit voters they should see the amount of Europeans that want out as well.
Agree also with your point in that France will be in the S22t.
That is true but options work pretty similar to a vanilla hedge and the interest rate swaps would guard them against fluctuating forward FX movements.
To incur such large losses can't be majorly down to FX if they are hedged properly. Also if anything, as their revenue is in USDs, they should have gained from the strengthening of the USD if they weren't hedged rather than lost out as indicated in the article.
Have to try and load a proxy thingumy on my laptop so that I can view BBC Player, damn things knows I'm not in the UK.......
You're right about the number of other member states that want out of the EU, the Dutch, French, Danes, Italians, Greeks, it's becoming bit of a shambles and those in charge seem to be oblivious to it. It's not so much the free trade, freedom of movement etc that's causing the amount of unrest but the creeping federalism and the increasing powers that the EU wants to take from the member states.........if they went back to the single market and nowt else alot of the unrest would stop, plus the one size fits all fiscal policy that they imposed with the Euro was doomed from the start, in reality they should have allowed each country to maintain it's own right to decide on interest rates rather than imposing the rates that only really suited Germany but caused fiscal problems elsewhere. As an example if the Central Bank here in Ireland had been allowed to set interest rates the crash we had in 2007 would more than likely not occured, but because rates were so low the banks were phoning customers to see if they wanted to take out new loans to buy, cars, kitchens, houses etc........true it wasn't all the banks fault because people lost the run of themselves, they could have said no. The rest as they say is history.
was sad to hear the Italian saying the adverse effect the closure of the Fiat factory had on the local population. Another factory moved to Poland, no wonder they love the EU so much
It's the same in France you see loads of old derelict factories that were probably once the hub of the community. It's all geared up to make Germany richer while everyone else struggles.
Actually Greece could be the biggest problem with $7billion to be repaid in June and no hope of finding it.
Cake and eat it? Grandpa Donal has never been more useful
(bet a lot of them are Brexiteers -you may end up living next to one, Fing!)
My Irish ancestry goes a little too far back for me to qualify, otherwise I'd apply.
I see the Minister for Foreign Affairs shares my surname - must be a cousin.
I don't think many of them are going to move here. Obviously some people are thinking ahead and trying to obtain dual nationality if they can whilst they remain where they live now.
If people want to leave the UK for the EU then bye bye. Just don't expect to come and use the NHS when the EU collapses.
But seriously
It's just another scare tactic. Another 'remoan' story that can't even get on a decent news outlet (sorry Finglas).
But seriously
It's just another scare tactic. Another 'remoan' story that can't even get on a decent news outlet (sorry Finglas).
What's a decent news outlet Ellers? The BBC or Sky News? It is a big story over here and is affecting how long people have to wait when renewing their passports. Mine is up in the next month or so and I expect a new one will take between 1 to 2 months to be processed. As soon as article 50 is triggered, the numbers will probably increase even more.You keep promising us the EU will collapse shortly. Let's wait and see if that happens or not.