Credit, Collections & Insolvency News
A new study by IPPR has indicated that working family poverty figures have hit a record high and has been fuelled by rising housing costs and childcare challenges. The report found that UK’s relative poverty rate among working households has hit a record high this century of 17.4 per cent, based upon analysis of official data…
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A new report has found that a lack of urgency around responsible Artificial Intelligence (AI) use is putting companies at risk. The report by FICO and Corinium found that almost two-thirds (65%) of respondents’ companies can’t explain how specific AI model decisions or predictions are made whilst 73% have struggled to get executive support for…
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The Government and the Association of British Insurers (ABI) have announced that the temporary Trade Credit Reinsurance (TCR) scheme will close on 30th June as planned. The scheme has directly benefitted over half a million businesses, providing certainty to firms across the UK and safeguarding jobs. It protected more than £575 billion of business turnover…
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A new report by Coface has highlighted the rising payment risks in China despite the country’s economy expanding by 2.3% in 2020 and it being the only major economy to record growth. Coface expects the GDP in China to accelerate to a 7.5% growth in 2021. This would be the fastest pace since 2013, and…
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City of London police investigated 50% more fraud probes in connection with the Government’s Bounce Back Loan scheme (BBLs) in February than the month before according to new research by RPC. The international law firm found that Bounce Back Loan fraud investigations increased from 17 in January 2021 to 26 and 28 in February and…
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More than half of drivers (51%) are intending to buy a new or used car in the next six months, now that showrooms have re-opened and travel curbs are being lifted, according to research from comparethemarket.com. Drivers are set to spend an average of £15,042 on these cars, with 39% planning to buy either an…
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