The Bank of England’s Financial Policy Committee (FPC) has warned that the growth of new lending to already indebted firms, through leveraged-loans, has parallels to the subprime mortgage boom which ended with the global financial crisis in 2008. Minutes from the FPC’s latest meeting also reveal warnings over the rise in loans with weaker covenants…

South Staffs Water and Rimilia have agreed on an artificial intelligence (AI) based credit management software partnership. South Staffs Water (incorporating Cambridge Water) supplies high-quality drinking water to around 1.6 million people in its two areas of supply. South Staffs Water supplies to approximately 1.3m people over 1,500 square km in the West Midlands, South…

The Financial Conduct Authority (FCA) has confirmed plans to extend access to the Financial Ombudsman Service (FOS) to more small and medium-sized enterprises (SMEs). The changes will mean that SMEs with an annual turnover below £6.5m and fewer than 50 employees, or an annual balance sheet below £5m will now be able to refer unresolved…

Sales across UK business rose by 1.5% in the last three months, the equivalent of £99.8bn, according to the latest figures from the Creditsafe Watchdog Report. This follows two consecutive quarters in the year to date of falling sales and rising company failures. The quarterly Watchdog report, which analyses financial data across 12* UK business…

The number of complaints made by non-household customers about retailers to the Water Watchdog has fallen for the first time since the market opened. New figures show the Consumer Council for Water (CCWater) received 766 complaints during the first quarter of 2018/19 – a 21 per cent reduction on the 968 received during the final…

New research from Coface shows that Argentina and Turkey, two countries already hampered by major external imbalances and their dependency on external financing, are experiencing a deepening in their currency crises. Against a backdrop of rapidly tightening credit conditions, Coface has downgraded six of Argentina’s business sectors suffering from a severe downturn in economic activity…

A third of the 1.1 million UK SMEs with EU suppliers would be unable to operate without imports from the bloc, according to the latest SME Confidence Tracker from independent financial services provider, Bibby Financial Services (BFS). The research news comes as a potential ‘no-deal’ Brexit threatens to disrupt trade between the UK and EU, and…

More than half (53%) of the medium-sized and large businesses in the UK use a bank for international payments potentially costing them more than £426 million a year in currency costs, according to foreign-exchange and treasury management specialist Centtrip. Centtrip’s survey of 500 medium-sized and large companies has revealed that on average each spent £978,000…

The Director of a financing company has received a ten-year ban after heading a false invoice scheme to secure £4 million of illegitimate funds. David Marsden, from Exeter, was the Director of finance company First Capital Factors (FCF). Incorporated in 2009, FCF offered recourse factoring facilities for small and medium businesses where they would buy a company’s…

New measures to end the problem of late payments to small businesses by large companies who abuse their position in the market have been unveiled by the Small Business Minister Kelly Tolhurst as she launches a call for evidence. Nearly a quarter of UK businesses report that late payments are a threat to their survival.…

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