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About crompton21

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  1. From Bloomberg yesterday(the capitals are because I cut and pasted not sensationalism): Carnival Seeks Up to $7 Billion Amid Global Travel Halt Carnival is discussing issuing a mix of debt and equity, the people said. Options include issuing $3 billion to $7 billion in senior secured first-lien debt, implying a loan-to-value ratio of about 25%, they said. The company is also weighing issuing $1.5 billion in convertible notes and $1 billion to $2 billion in common equity, one of the people said. The situation remains fluid, they said.
  2. you would get bored reading my shopping list lol. Chocolate £1.50 normally £1.00, Broccoli £1.50 last week £0.39. Etc etc
  3. We did our “normal” weekly shop yesterday. Small queue to get in, most items now back in stock. Didn’t stockpile but the cost was some 50% higher than normal. Price hikes and lack of offers make a real difference!
  4. Whilst your jokes are funny Andy, I think I tended to laugh outloud at some of the madder posts that appeared. Long live duct tape (if that was another alias)
  5. There are two more ships being refused entry to Australia (Artania ex Artemis and MSC Magnifica) both ships do not have Australians on board is the reason for refusal and Artania also has ex passengers with Corona and people sick on board. I had somehow wrongly assumed that all major cruise companies had now repatriated everyone. Desperate times for those involved. Credit where credit's due P&O/Cunard have sorted out their world cruise passengers.....almost.
  6. UK and Australian Income Tax Cunard, P&O Cruises (UK) and P&O Cruises (Australia) are divisions of Carnival plc and have elected to enter the UK tonnage tax under a rolling ten-year term and, accordingly, reapply every year. Companies to which the tonnage tax regime applies pay corporation taxes on profits calculated by reference to the net tonnage of qualifying ships. UK corporation tax is not chargeable under the normal UK tax rules on these brands' relevant shipping income. Relevant shipping income includes income from the operation of qualifying ships and from shipping related activities. The above is from Carnival’s accounts presentation. Similar words apply to the U.S.A taxation situation. Overall they paid tax of about 2% of their profits....so, no they don’t really pay tax in the U.K or the U.S.A or in Europe.
  7. It's not quite " just been given a 3bn loan", it's a drawdown of an agreed loan facility put in place long before any of this started. It is also the maximum amount of approved borrowing that they have in place, if (when) they need more the terms will be a lot less generous. 3bn is about six weeks income so they probably have about two weeks of it left....
  8. I guess there is a basic plan with the ability to substitute a few items. Quicker packing and easier bulk ordering must be a good idea based on where we were last week with people panicking if they had mobility issues.
  9. During this 11-month period, the UK will continue to follow all of the EU's rules and its trading relationship will remain the same.
  10. Did we leave and I missed it? We have a departure plan, but are currently still in the building...
  11. From what I have read, the ABTA pot is almost empty having spent all of their funds on bringing the Thomas Cook refugees home. Even after emptying the ABTA pot the government also paid a substantial amount towards getting people home. It would appear that another significant holiday provider failing would leave the government picking up the tab. I would hazard a guess that the change in the rules is an attempt to protect the government from exposure to paying for more holiday rescues by trying to stop more holiday companies failing. As unfortunate as individual cases are, I can see a logic to the changes. As Dai said earlier, it will affect all holidays and not just P&O. It is also a fair assumption that the ABTA levy will presumably have to rise (we all pay in to it when we holiday)
  12. As it stands today there is a disconnect between the current insurance cover and what is required. Should that situation continue then it would be unwise for anyone to cruise until coronavirus is eradicated. If not covered by insurance the risk of catching the disease whilst on a cruise ship or any foreign holiday would deter the vast majority (and quite rightly so). The insurance industry is presumably taking this stance in order to control the current losses by effectively closing down the holiday insurance market to new business. Once some clarity is restored, I would expect cover to be reinstated as there isn't another option. Normal flu/Norovirus are covered by insurance even though they are known about. Premiums will presumably have to rise. If they don't do this, then they don't really have a product that is fit for purpose or a market to sell it to.
  13. My "corner shop" is actually a Morissons...Thursday no bread, today the loaf I bought was half price as they have too much!
  14. A call centre would be exactly the sort of place that government advice would be against opening. Lots of staff in close proximity etc. I know it's hard when you can't get clarity, but you will get clarity at some stage.
  15. There is an article on the BBC website focussing on the first town in Italy to be locked down. Apparently there were food shortages and stockpiling at first which ceased once people realised that the food wasn’t going to run out. lets hope that our current situation goes the same way.
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