1 minute read
Solution for risky loans
BANCO SABADELL: Catalan bank could sell on risky loans.
but are feared to be underperforming.
The portfolio is worth approximately €300 million although Sabadell expects to place around €150 million of this, insiders said.
The transaction comes at a time when Spain’s banks are discussing the creation of a ‘bad bank’ where they
MEL STRIDE, the UK’s Work and Pensions secretary insisted that the UK’s food prices were rising more slowly than other countries.
Speaking on the BBC’s Radio 4 shortly before the May figures were announced, Stride said food inflation was running at roughly 20 per cent in Germany, Portugal and Sweden.
“So it’s higher than it is here,” he said.
The most recent figures for all four countries cover the year ending in April 2023, when the UK recorded higher food inflation rates than the others.
Stride would have been correct based on the April figures although Germany, Sweden and Portugal’s food inflation has fallen since March. Meanwhile the UK figures remained high.
In the red
THE UK government’s total debt rose to 100.1 per cent of its gross domestic product in May.
This was the first time that the GDPtodebt ratio had risen above 100 per cent since March 1961, with the exception of a shortlived period during the Covid19 pandemic which was later revised down owing to stronger GDP figures.
The government’s borrowing rose to £20 billion (€23.2 billion) in May owing to energy support schemes, inflationlinked benefit payments and interest payments on debt. Borrowing was £3 billion (€3.5 billion) lower than in April but £10.7 billion (€12.3 billion) more than a year ago.
