Credit, Collections & Insolvency News
EY has continued to expand its UK partnership with the promotion of 75 Equity Partners and 45 external hires – its largest-ever cohort of Equity Partners in the UK. This builds on two years of strong growth, following the appointment of 103 Equity Partners in 2021. The new appointments reflect the firm’s increased investment in…
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Some 49% of people surveyed by the Office for National Statistics say they had purchased less food than normal between 22 June and 3 July. This was up from 8% of those polled last September. Another 48% said they had been forced to spend more than usual on their food shopping. Overall, 91% of 2,300…
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High levels of inflation and the deepening cost of living crisis have prompted further slowing of retail sales growth, according to new figures by accountancy and business advisory firm BDO LLP. The High Street Sales Tracker (HSST), total like-for-like (LFL) sales, combined in-store and online, increased by +8.4% in June compared to the equivalent month…
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Freedom Finance has announced that Emma Steeley will be joining the company as Chief Executive Officer (CEO). Steeley will lead the next stage of the company’s exciting growth ambitions following fresh investment and the completion of recent product upgrades to the award-winning digital marketplace. Emma joins from Equifax, where she spent nearly four years as…
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A new study from Juniper Research has found cumulative merchant losses to online payment fraud globally between 2023 and 2027 will exceed $343 billion. Online payment fraud includes losses across the sales of digital goods, physical goods, money transfer transactions and banking, as well as purchases like airline ticketing. Fraudster attacks can include phishing, business…
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Consumer sentiment has continued to decline as the cost-of-living crisis escalates, according to the latest update to PwC’s Consumer Sentiment Survey. Sentiment is now at -36, falling a further 16 points from the last iteration in March. Sentiment is now lower than at the start of the first national lockdown in March 2020 (-26%) but still higher than…
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One-in-six UK households (4.4 million) are now in ‘serious financial difficulties’ compared to one-in-ten (2.8 million) in October 2021 according to research by abrdn Financial Fairness Trust. The figures are worse than at any point during the pandemic. Of those 4.4 million in serious financial difficulties, to make ends meet 71% have reduced the quality…
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