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.
- 2 Top Gear: Jodie Kidd, Philip Glenister and Guy Martin 'in advanced talks' to join show
- 3 General Election 2015: 14-year-old boy asks Nick Clegg – 'can you kill Katie Hopkins?'
- 4 University student in court for allegedly covering housemates' food in window cleaner and spit
In defence of liberal democracy
The Rothschild Libel: Why has it taken 200 years for an anti-Semitic slur that emerged from the Battle of Waterloo to be dismissed?
General Election 2015: UK will be 'run for the wealthy and powerful' if Tories retain power, Labour warns
General election live: SNP suspends two members for disrupting Labour rally
Schools forced to act as 'miniature welfare states' with teachers buying underwear and even haircuts for poor pupils
Andy McSmith's Sketch: Feisty audience is the real star of an enlightening show
iJobs Money & Business
£20000 - £25000 per annum + Uncapped commission: SThree: Can you speak German,...
£25000 - £30000 per annum + benefits: Ashdown Group: An exciting opportunity f...
£215 per day: Ashdown Group: Junior Project Manager (website, web application ...
£40-50K: Guru Careers: We are seeking an experienced Software Engineer / Softw...