The Bank of England warns about both recession and inflation from Ben Bernanke’s counterpoint, BofE governor Mervyn King. I wonder if Gordon Brown and other British PMs of the past have had the luxury of fudging British economic indicator stats as much as US presidents have.
Meanwhile, major UK lender Barclay’s has £2 billion of newly-announced bad credit on its books. That’s on top of £1.7 billion it wrote down in the first quarter. Officials would not comment on whether it would rewrite its stock through a rights issue or not.
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