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Recovery remains slow

Published Friday, August 01, 2008

The most recent evidence may point to a longer recovery regardless of who gets elected in the fall. And the impact will be worldwide. An indication of the worldwide effect of the loan problems facing banks is that Barclays may need to raise an additional £9 billion in capital, according to analysts at Citigroup, who also said the British bank could take further write-downs as credit market conditions continue to deteriorate. Citigroup estimated that Barclays would need £6.6 billion of additional equity to reach the same capital position as Royal Bank of Scotland and £8.6 billion to meet ...

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