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'Disappointing' start for bank lending scheme
The Bank of England's Funding for Lending (FLS) scheme made a "disappointing" start in August as loans to businesses and households dropped by £5bn, experts said yesterday. The steep fall contrasts with an average monthly £900m rise in...
ECB looking at buying bad loans from southern Europe - report
In an advance copy of a report due to be published on Wednesday, Die Welt said the ECB not only wanted to improve the framework for asset-backed securities but, citing central bank sources, said the ECB's Governing Council was also discussing whether...
Fears for eurozone bank as €16bn borrowed from ECB's overnight fund
Fears are swirling around Europe's debt markets that a eurozone bank is in trouble after figures showed one or more lenders had borrowed €16bn (£13.4bn) from the European Central Bank's emergency overnight cash facility. The spike in borrowing...
EUROZONE BANK FEARS
Banks parked 777billion (£645billion) with the ECB just two days after the central bank made 530billion available through ultra- cheap loans. The ECB said the increase simply reflected the extra funding pumped into the system. But critics say the...
Under fire investment bank Goldman Sachs is slashing around 1,700 jobs
Under fire investment bank Goldman Sachs is slashing around 1,700 jobs - approximately 5 per cent of its global workforce. This could include around 250 jobs in its London office out of a 5,000-strong workforce. The cuts will take place in all four of...
Bank lending to hit six-year low, says Item Club
Bank lending to businesses will hit its lowest level this year since 2006, despite government efforts to stimulate lending, a report suggests. The Ernst & Young Item Club forecasts that business lending will fall by 4.6% to £429bn in 2012 from...
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