Finance

The Treasury and Bank of England funding intiative aimed at kick-starting UK bank lending has been met with scepticism following its official launch

Commercial printer Wright's (Sandbach) Ltd has been sold back to its original management as a going concern following the appointment of administrators.

UPM has booked a 35m impairment charge and made a 10m restructuring provision to account for asset sales and redundancies.

Eastman Kodak has been given the OK by a New York-based US bankruptcy judge to auction its digital imaging patents in a move that could fetch billions for the financially struggling firm.

The administrators' final report revealed the sheetfed and web arms of Manroland's UK operations were sold for 645,131 and 40,412 respectively, while the consumables unit was closed.

Paperlinx has announced its intention to restructure its UK trade following sales of its American and Italian businesses.

The Bramwell Labels Company secured funding for two new machines by shopping around to guarantee the best loan rates.

Kodak's sale of some 1,100 digital imaging patents has hit another road bump after a slew of tech giants that license the US-based manufacturer's technology filed objections to the proposed sale.

The paper manufacturer has recorded a 50% drop in pre-tax profit for the year to 31 March 2012 after booking an 800,000 redundancy provision for an anticipated 40 job cuts.

UK print businesses could face higher borrowing costs after ratings agency Moody's downgraded all four of the UK's leading high street banks yesterday.