peter_IFAMAG reads Twitter so you don’t have to.
Danske Bank Northern Ireland pre-tax profits have fallen from £24.7m to just £1.4m. This news comes as further criticism of the roll-out of Coronavirus Business Interruption Loans. In Europe the ECB has been warned it must ‘turn back time to save the Eurozone.’
BBC Economics Correspondent Andrew Verity tweeted this earlier.
The British Chambers of Commerce has once again raised concerns that businesses are still struggling to access Coronavirus Business Interruption Loans: “Serious consideration must also be given to the expansion of grant schemes for firms unwilling to take on more debt.”
— Andy Verity (@andyverity) April 30, 2020
James Hurley, of the Times, had this to say.
Fact that average CBILS loan is £165,000 underlines need for the new 'bounce back' scheme to work for smaller companies, says @fsb_policy . FSB's Mike Cherry says smallest businesses are finding CBILS application process "a nightmare". pic.twitter.com/vyQljnaEaQ
— James Hurley (@jameshurley) April 30, 2020
The BBC NI Economics and Business Editor has an interesting string on the Danske Bank news.
Danske Bank in Northern Ireland saw pre-tax profits fall by 78% in the first quarter of 2020. Performance was heavily impacted by loan loss provisions related to cornonavirus – money that must be put aside to cover loans which are unlikely to be repaid in full.
— JPCampbellBiz (@JP_Biz) April 30, 2020
In Europe another crisis is brewing. The FT have published a lot on this topic but this is still worth the read.
To save the eurozone, the ECB must turn back time https://t.co/qiqItEXKrU
— FT Alphaville (@FTAlphaville) April 30, 2020
What are your thoughts on these tweets?
Tweet your responses to @peter_IFAMAG
