Banks warned yesterday it was “inevitable” that businesses would fail in the coming recession, as the government was unsuccessful in its attempts to extract any concrete pledges from lenders to improve their treatment of small companies. The warning will disappoint ministers who had indicated the £37bn part-nationalisation of the banks would lead to concessions for businesses and consumers.

This entry was posted by Tracy Alloway on Friday, October 24th, 2008 at 4:16 and is filed under Capital markets. Tagged with Recession. Edit this entry.