The worldwide credit score crunch, which has dominated monetary news headlines over current months, continues to wreak havoc throughout the UK. Because it made its way throughout the Atlantic final summer time the credit score crunch has taken its toll in all financial sectors, and has made issues troublesome for both lenders and consumers. The Philadelphia Federal Reserve Financial institution mentioned its business exercise index dropped to eight.0 in June from May’s 21.4. Economists had anticipated a reading of 20.9, primarily based on theÂ results of a Reuters ballot, which ranged from 10.zero to 24.zero.
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In keeping with the US Lawyer’s February 28 assertion, the Leichners and Midland Euro continued to solicit funds even after the Nationwide Futures Association barred the company from commodities and foreign money exchanges following an October 2001 audit and after Zvi Leichner had been suspended in March 2000 by the California Department of Corporations.