Consumer debts breaking backs - papers 2 August

The world’s second largest bank branded the UK its most difficult market, writes The Daily Telegraph Personal loans and credit card debt are pinpointed as chief culprits for the difficulties facing borrowers, and the bank has increased its provisions for bad debt to £1.86bn as a result. HSBC has blamed rising interest rates, slower employment growth and a poor property market. The issue of the state of the UK economy is also highlighted in The Scotsman, which notes yesterday’s poor numbers from the Chartered Institute of Purchasing & Supply. The institute’s Purchasing Mangers Ind...