Britain's banks are on life support, says Miles


	Britain's banks are on life support, says Miles

JICWyllie

7-3-2009 2:42 AM

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tags:

1-losses, 1-recession, 2-increase 3-reported, 2-risks, 3-forecast, 4-uk

JICWyllie says:

"Here come the Judge" - Laugh In

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/1394516e-7dba-414f-921c-a7a2d563fd31/7AAE05DF-ECD7-4617-881D-C292BEFA62B4/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.independent.co.uk/news/business/news/britains-banks-are-on-life-support-says-miles-1729641.html" href="http://www.independent.co.uk/news/business/news/britains-banks-are-on-life-support-says-miles-1729641.html" style="font-size: 11px;">www.independent.co.uk</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.independent.co.uk/news/business/news/britains-banks-are-on-life-support-says-miles-1729641.html"><P>The contraction of Britain's building sector accelerated again last month, and construction orders over the three months to May also dropped, adding weight to fears that the UK faces a "double dip" return to recession.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.independent.co.uk/news/business/news/britains-banks-are-on-life-support-says-miles-1729641.html"><P>The construction purchasing managers' index, a leading indicator of economy activity, had showed a brief lift in May. But the Chartered Institute of Purchasing and Supply (Cips) said yesterday that its index had dropped back by more than a point to 44.5 in June, still well below the break-even "50" mark. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.independent.co.uk/news/business/news/britains-banks-are-on-life-support-says-miles-1729641.html"><P>Alongside wavering confidence in the future, historical data is also gloomier than expected. Office of National Statistics (ONS) numbers for the three months to May, also published yesterday, show construction industry orders falling by 1 per cent compared with the previous three months, and 30 per cent year on year. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.independent.co.uk/news/business/news/britains-banks-are-on-life-support-says-miles-1729641.html">with banks still reluctant to lend, and concerns over public debt rising, the economy is in danger of slipping back, analysts warn.</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/7AAE05DF-ECD7-4617-881D-C292BEFA62B4/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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