News in brief: Lending to firms shrinks by £4.5bn, EasyJet is set for its hottest summer yet, Speedy Hire hit by Games comedown
Lending to UK businesses fell by £4.5 billion in the three months to May, the Bank of England said today.
Its latest Trends in Lending report showed that larger companies are enjoying cheaper borrowing rates although loan costs are “little changed” for smaller businesses. The conditions contrast with an easing mortgage market, with the number of loan approvals posted during May the highest since December 2009.
EasyJet is set for its hottest summer yet
The hot weather is not keeping everyone in the UK: easyJet today predicted its busiest summer yet, with nine million due to fly out on the budget airline between mid-July and the end of September.
Its most popular routes are to Malaga, Palma, Alicante, Barcelona and Amsterdam. Its busiest day of the year is set to be 6 September, with more than 130,000 passengers travelling to and from the UK.
Speedy Hire hit by Games comedown
Plant and tool hire firm Speedy Hire suffered an Olympic hangover today as UK and Ireland sales sank 2.6% on last year in the quarter to June 30.
The firm was trading against a significant uplift in infrastructure spending last year ahead of the London Olympics. although Speedy added that UK construction markets remain tough. The shares fell 2.6p to 59.1p, or 4%, despite stronger international trading.
