Lloyds’ depressing message about British recovery is more than pessimism | Larry Elliott | business

When the UK had a much larger industrial base than today, ICI’s results were seen as a sign of how well things were going. As the times have changed, these days it is not a big company like ICI, but an expensive bank that plays the role of the economy.

There’s a good argument that what’s happening at the Lloyds Banking Group actually reflects what’s happening all over the UK, there’s a lot to worry about. Lloyds has a strong influence on the mortgage market, auto loans, credit cards and business loans. Almost focused on the UK.

So, if one reason the bank is increasing its provisions against future losses is an increased risk of mortgage defaults, then the Bank of England and the Treasury should start ringing the alarm bell. Likewise, the fact that many companies using governments have regained their loans left their account balances.

Nobody expected the results of the second quarter Lloyds Bank to be not terrible, and these predictions were justified with a pre-tax loss of 676m. What Rishi Sunak and Andrew Bailey expected were signs of a strong recovery in the second half of 2020.

There is not much evidence. Lloyds is more depressed about growth, unemployment and home prices than its competitor Barclays, and as the Treasury system cuts, the likelihood of rising unemployment increases, which can lead to mortgage problems.

Optimistic bent people can say that Lloyd tends to always take a conservative view when it comes to provisioning, and the loss is unlikely to be as big as expected. However, the company is hiding a bouncing loan for a reason. They are afraid of the harsh winter ahead.

Lack of steam to recover

Forget the Great Depression Don’t even consider the 2008 financial crisis. The U.S. economy has more than 32% annual contracts in the worst three months of history.

That doesn’t mean that the world’s largest economy will shrink to a third this year. Due to the interesting way the United States suggests growth rates, activity between April and June is slightly less than the 10% drop in Germany, which is 8% of GDP.

US growth figures, as predicted by economists, have dimmed the disclosure of new claims for unemployment benefits. These have risen during the second week and better show what’s going on in the US economy right now. They suggest that steam is exhausted in the recovery that started in May.

The reason is clear. New cases in Covid-19 have more than doubled in the past six weeks, reaching 70,000 cases per day. As the number of deaths increased from 490 to 1,000 per day in early July, restrictions were tightened and consumers stopped spending. The result is a slowing economy and an increase in unemployment. When the current president wanted an election three months later

Homes for high street

As an upcoming sign, the group behind the John Lewis and Waitrose brands announced they are thinking of turning unwanted retail spaces into homes. Deli counter will be a master bedroom, trolley park bike rack.

Sign up for a Business Today email daily at @BusinessDesk or follow Guardian Business on Twitter.

It’s the right approach and you’re more likely to activate your town center than the online sales tax currently being considered by the Treasury. The idea that you can solve structural problems before Covid-19 by doing more expensive shopping on Amazon is moonlight.

A better solution would be to turn the town center into a place where people live, socialize and spend money. This means that there are fewer supermarkets and department stores, and more homes.

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos