A shining light: Bank of England Governor Andrew Bailey For Ross McEwan it has been out of the frying pan into the fire. The lugubrious New Zealander, having battled to restore the dividend at Royal Bank of Scotland, fled London for Sydney, only to find that National Australia Bank (NAB) needed attention too. He has taken similar … Read more
Analysis finds amount of money loaned to help British businesses through pandemic well behind European levels By Daily Mail City & Finance Reporter Published: 00:05 BST, 27 April 2020 | Updated: 00:58 BST, 27 April 2020 The amount of money loaned to help British businesses through the pandemic is still well behind European levels, analysis … Read more
Slowly but surely, small businesses are obtaining much-needed finance from the Government-backed Coronavirus Business Interruption Loan scheme. Yet, as Sarah Bridge reports, it hasn’t all been plain sailing. Some have accessed funds quickly while others have been left waiting anxiously. A few have thought on their feet and come up trumps as a result… We’ll … Read more
When Andrew Bailey switched on his TV at home on Monday evening for the latest Covid-19 coverage and saw that the price of West Texas Intermediate oil had plunged into negative territory, it was something of an alarm call. For the Governor of the Bank of England – one of the small team of executives … Read more
Banks urged to ramp up lending as just 12,000 small firms get crucial loans to survive the coronavirus crisis By Ruth Sunderland for the Daily Mail Published: 21:51 BST, 20 April 2020 | Updated: 21:51 BST, 20 April 2020 Britain’s banks are under mounting pressure to come clean over what they are doing to help … Read more
Britain’s banks preparing for loans worth billions of pounds to turn sour as firms fall apart due to coronavirus crisis By Lucy White For The Daily Mail Published: 21:55 BST, 19 April 2020 | Updated: 21:55 BST, 19 April 2020 Britain’s banks are preparing for loans worth billions of pounds to turn sour as firms … Read more
Leigh Bryant is trying his utmost to remain positive, but it is not easy. As the owner and manager of Bristol-based motor home accessory fitters LNB Towbars, this should be a peak time of year for him as his customers get ready for their summer holidays. But with his company closed due to the coronavirus … Read more
The Treasury is finally set to extend its package of coronavirus rescue loans today, which will come as a relief for hundreds of businesses that had fallen through the cracks. Firms which make more than £45m were denied access to the Coronavirus Business Interruption Loan Scheme (CBILS) launched last month. Help was on offer to … Read more
Some of America’s largest banks set aside £20bn to cover cost of loans turning sour in coronavirus slump By Daily Mail City & Finance Reporter Published: 22:06 BST, 15 April 2020 | Updated: 22:36 BST, 15 April 2020 Some of America’s largest banks have set aside £20 billion to cover the cost of loans turning … Read more