New credit crunch risk as banks face funding crisis Britain is facing a second credit crunch as banks shrink their loan books to avoid a funding crisis, a leading analyst has warned. Private equity lines up for Card Factory Husband and wife team Dean and Janet Hoyle are set for a £350m windfall after several private equity firms delivered bids for their Card Factory greetings cards retail chain. Fitch warns Britain and questions Greek rescue as sovereign risks grow Fitch Ratings has delivered a serious blow to the credibility of the Government's budget plans. Renewed fears over Britain's recovery The economy suffered a major setback yesterday after a fresh warning on the deficit, a weaker pound, and the sharpest fall in exports in more than three years heightened fears that Britain is in store for a double-dip recession. New York state faces $9.2bn budget black hole New York state to examine the amount of taxes paid by Wall Street bankers as it tries to narrow its ballooning $9.2bn budget deficit.