http://www.telegraph.co.uk/finance/f...says-Bank.html
Britain is showing signs of sliding towards a 1930s-style depression, the Bank of England says today for the first time.
http://www.telegraph.co.uk/finance/f...ver-pitch.html
Tensions in the financial system are approaching the fever pitch they reached before the collapse of Lehman Brothers last October, the Bank of England has warned.
The report lays bare the fears investors currently have about the creditworthiness of Britain's biggest banks. It reveals that a key measure of interbank health - the spread between the London Interbank Offered Rate (Libor) and expected interest rate levels had "started to widen again" while "contacts reported some increased reluctance to lend to banks beyond very short maturities."
The main worry haunting investors is the threat that banks could be nationalised and that financial institutions are harbouring "ongoing balance sheet constraints".
However, most worryingly, it warns that the credit default swap spread rates on large banks - a key measure of concerns about their possibly insolvency - picked up to their highest level since just before the collapse of Lehman.
http://news.bbc.co.uk/1/hi/business/7945426.stm
There is now an average of 10 jobseekers for every vacancy advertised in the UK, the TUC has warned.
The situation is worst in the south east of England, where the trade union body said its research found 60 people chasing each job.
TUC general secretary Brendan Barber told the Observer that the figures "were shocking", and showed the extent to which unemployment had risen.
http://news.bbc.co.uk/1/hi/business/7944907.stm
One in every 56 UK business will fail in 2009, according to a report by accountants BDO Story Hayward.
The report estimates that the number of business failures will increase by 59% to 36,000. This compares with 22,600, or one in 87, that failed in 2008.
Green shoots of recovery?
Britain is showing signs of sliding towards a 1930s-style depression, the Bank of England says today for the first time.
http://www.telegraph.co.uk/finance/f...ver-pitch.html
Tensions in the financial system are approaching the fever pitch they reached before the collapse of Lehman Brothers last October, the Bank of England has warned.
The report lays bare the fears investors currently have about the creditworthiness of Britain's biggest banks. It reveals that a key measure of interbank health - the spread between the London Interbank Offered Rate (Libor) and expected interest rate levels had "started to widen again" while "contacts reported some increased reluctance to lend to banks beyond very short maturities."
The main worry haunting investors is the threat that banks could be nationalised and that financial institutions are harbouring "ongoing balance sheet constraints".
However, most worryingly, it warns that the credit default swap spread rates on large banks - a key measure of concerns about their possibly insolvency - picked up to their highest level since just before the collapse of Lehman.
http://news.bbc.co.uk/1/hi/business/7945426.stm
There is now an average of 10 jobseekers for every vacancy advertised in the UK, the TUC has warned.
The situation is worst in the south east of England, where the trade union body said its research found 60 people chasing each job.
TUC general secretary Brendan Barber told the Observer that the figures "were shocking", and showed the extent to which unemployment had risen.
http://news.bbc.co.uk/1/hi/business/7944907.stm
One in every 56 UK business will fail in 2009, according to a report by accountants BDO Story Hayward.
The report estimates that the number of business failures will increase by 59% to 36,000. This compares with 22,600, or one in 87, that failed in 2008.
Green shoots of recovery?
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