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Bank of England needs more effective warnings
Banks ‘ignored credit warnings’

Banks failed to take action to avert the developing credit crunch in part because they ignored warnings from regulators, MPs have said. The system by which regulators – including the Bank of England and Financial Service Authority (FSA) – warn lenders of impending financial turmoil is “deficient” and must be strengthened to banks pay proper… Read more »

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Darling warns of US recession risk
Darling: Economy faces biggest test for a decade

The chancellor has warned the economy is facing its biggest test for ten years. But Alistair Darling called for confidence in the UK economy, insisting it was well-placed to weather the global economic downturn. In a speech to the Euromoney Bond Congress in London, Mr Darling acknowledged growing concerns of a US recession and admitted… Read more »