Businesses face gloomy outlook, says Bank of England
Thursday 19 July 2012
Some of Britain's biggest banks expect signs of corporate distress - including insolvencies - to increase, the Bank of England said today, as the economy struggles to emerge from the double-dip recession.
In a quarterly report on trends in lending in the UK, the Bank said while the major UK banks indicated that recent indicators of corporate distress were stable, the outlook was weaker.
The rate of corporate liquidations was unchanged in the year to March while the corporate write-off rate was also broadly unchanged, the Bank said.
Elsewhere, the report revealed that lending by all UK-resident banks and building societies to business fell by around £3 billion in the three months to May, while gross lending for house purchases was broadly unchanged.
- 1 Forget 'The Dress': Here are five of the biggest news stories you might have missed
- 2 The black and blue dress: Makers considering a white and gold version
- 3 PornHub turns masturbation into energy in bid to save the planet
- 4 The remarkable archaeological underwater discovery that could open up a new chapter in the study of European and British prehistory
- 5 Saudi Muslim cleric claims the Earth is 'stationary' and the sun rotates around it
New theory could prove how life began and disprove God
This is what it's like to be dead, according to a guy who died for a bit
'Cash for access' scandal: Sir Malcolm Rifkind says 'unrealistic' for MPs to live on £67,000 salary
'Jihadi John': CAGE representative storms off Sky News accusing Kay Burley of Islamophobia
Ukip would cut billions from Scottish budget to fund English tax cuts
Russia's roadmap for annexing eastern Ukraine 'leaked from Vladimir Putin's office'
iJobs Money & Business
£40000 - £50000 per annum + pro rata: SThree: SThree Group have been well esta...
£30000 - £37000 per annum: Recruitment Genius: Established in 1999, a highly r...
£250-£300 Day Rate: Jemma Gent: Are you a qualified accountant with strong exp...
£230 - £260 Day Rate: Jemma Gent: Do you want to stamp your footprint in histo...