P109 CEEFAX 109 Thu 16 Jan 21:04/02
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j5{5jj5~s SIGNS OF RECOVERY SPARSE,
j5op0ozz5p SAYS GEORGE YOUNGER
A formjr Tory Cabinet minister says
thjre are few signs of economic upturn.
George Youngjr, who is chairman of thj
Royal Bank of Scotland, said there was
unlikjly to be a real improvjmjnt until
thj sjcond half of thj yjar.
The oil sector was providing thj only
stimulus to growth, said Mr Younger,
a djfence secretary under Mrs Thatcher.
Meanwhile, onj of Britain's largest
banks, TSB, madj a loss of £47m
compared with a profit of ovjr £300m in
the previous year. Bad losses due to
the recession were blamed.
101 Headlines 160 Politics
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