Business Services Industry
Bank of England warns of business credit crunch.
Knight Ridder/Tribune Business News, June, 2004
Daily Mail, London Knight Ridder/Tribune Business News
Jun. 28--The Bank of England has stepped up its alarms to borrowing-mad Britain. Overstretched firms and individuals may face a credit crunch, it warns.
It said that an overall improvement in company profits may "mask vulnerabilities," particularly among small firms.
The rise in oil prices this year could add to financial pressures on businesses, it said.
In its latest Financial Stability Review, the Bank said that company balance sheets had improved, but they still showed high levels of borrowing by historical standards. "Firms remain more vulnerable than usual to adverse shocks," it added.
The warnings to business were accompanied by a similar message for...
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