Credit, Collections & Insolvency News
The Bank of England (BoE) has increased interest rates to 0.5% from 0.25% as it looks to restrain a surge in the cost of living. With inflation soaring, the Bank opted to increase rates at successive policy meetings for the first time since 2004. Forecasts suggest inflation, as measured by the consumer prices index, is…
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Households will face a record energy bill increase of 54% from April after regulator after Ofgem lifted the cap on default tariffs to £1,971. With energy market prices increasing fourfold over the last year, Ofgem upped the maximum rate that suppliers can charge for an average dual-fuel energy tariff by £693. Once the increase comes…
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Research by KIS Finance has revealed that as a direct result of the rising cost of living, 57% of people are either already struggling financially, or expect to do so in the very near future. With inflation jumping to 5.4%, its highest level in almost 30 years, increasing numbers are finding it challenging to make…
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PKF GM has announced the appointment of Stratford Hamilton as a Director in the London team specialising in contentious insolvency. Hamilton is a licensed Insolvency Practitioner a member of the Association of Business Recovery Professionals (R3) and the Fraud Advisory Panel He has spent over two decades undertaking personal and corporate insolvency appointments mainly associated…
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Small business owners are feeling confident about taking on larger amounts of finance to support their growth ambitions in 2022, according to iwoca’s quarterly SME Expert Index. The index reveals that close to half (43%) of brokers saw financing for growth as the most common purpose for a loan among SMEs. This is the second…
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The Open Banking Implementation Entity (OBIE) has announced the appointment of Henk Van Hulle as the organisation’s first Chief Executive Officer. The creation of this new position was recognised in the CMA’s recently published updated governance arrangements for the OBIE, as part of a package of changes that deliver a strong and effective governance and…
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Rents rose to hit a three month high in January, as the lack of stock and high tenant demand continue to fuel demand for properties across England according to new research by Goodlord. The average cost of rent across England rose during January, with averages hitting £993 per property. This is up from an average…
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MotoNovo has announced changes to its Senior Leadership team led by Managing Director Karl Werner. The changes will see Debbie McKay, promoted to the new role as Commercial Director of Motor Sales, Chris Rowthorn, promoted to a new role as Director of Motor Sales Operations. The leadership team will also include Donna Slater, Head of…
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