Banks should insure loans to small businesses, thinktank says

Banks should insure loans to small businesses, thinktank says ResPublica director Phillip Blond says mandatory loan to insure loans ‘could build confidence in lenders to lend’.
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Lloyds Banking Group share price target set at 72p by in-house broker

UBS analyst’s forecast 12p price rise would open up part-taxpayer-owned bank to sell-off of state stake Shares in Lloyds Banking Group could get close to the level the taxpayer paid for its 39% stake in the bailed-out bank, the company’s house broker forecast on Monday – setting a price target for the shares of 72p. […]
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Funding for lending scheme failing to refresh flagging UK economy

Plenty of excuses have been wheeled out to explain why banks are lending less than last year – none especially convincing There used to be a TV ad for Heineken that boasted that it refreshed the parts other beers could not reach. The Bank of England’s funding-for-lending scheme has the reverse effect: it refreshes only […]
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Mortgage lending buoys Bank of England figures

Lending to individuals is on the up, driven by mortgages, BoE figures show, but business lending hits a slumpLending to individuals rose in April, but figures from the Bank of England showed a sharp fall in the amount of borrowing done by businesses.Non-financial firms paid off £3bn of loans (including overdrafts) over the month, compared […]
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OFT criticised over ‘ineffectual’ payday loans policing

Committee of MPs says watchdog failed to invest enough in regulation, never fined a firm and was slow to revoke licencesThe watchdog responsible for regulating the UK’s payday lenders has been “ineffective” and “timid”, and has failed to identify risks of malpractice which have cost consumers at least £450m a year, according to the Public […]
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Vince Cable: ‘The traditional high street banks have forgotten how to lend’

Business secretary expresses worry over big four’s reluctance to support business lending and praises new-style banksWhen Jonathan Eddy wanted finance for his Basingstoke-based business, one of the traditional high street banks offered him a competitively priced loan – but then threw in fees that made it too expensive for him to proceed. Eddy, managing director […]
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Nationwide profits leap 56% amid acquisition speculation

Building society warns of ‘challenges to short-term profitability’ but says its financial position is ‘strong and robust’Nationwide has revealed plans to raise up to £500m of extra capital, prompting speculation that it may go shopping for acquisitions. However, Britain’s biggest building society also admitted it had doubled its provisions relating to problem commercial property loans […]
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Never mind tax havens – the real hidden billions are in company coffers | Richard Seymour

We are in the middle of an investment strike, with UK companies sitting on hundreds of billions that could be the key to recoveryYou know how it goes in a recession: the rivers stop flowing, the factories collapse, the banks crumble and the crops dry up. Or, to put it in another more accurate way, […]
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George Osborne to extend funding for lending scheme to small businesses

Banks may be offered 10 times access to cheaper loans as an incentive and leasing firms will be able to take part in schemeGeorge Osborne is switching the emphasis of his flagship lending scheme to small businesses by offering banks incentives to lend more to this credit-deprived sector.As the Bank of England announced a year-long […]
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George Osborne to extend funding for lending scheme to small businesses

Banks may be offered 10 times access to cheaper loans as an incentive and leasing firms will be able to take part in schemeGeorge Osborne is switching the emphasis of his flagship lending scheme to small businesses by offering banks incentives to lend more to this credit-deprived sector.As the Bank of England announced a year-long […]
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