19th December 2022 - Credit Connect

Consumer confidence climbs but remains at record low

19th December 2022 Consumer Collections | #consumer confidence

GfK’s consumer confidence index increased by just 2 points to minus 42 in December compared with November. This represents a record eighth month in a row that the measure of financial optimism gave a reading of -40 or worse on an index where a minus score represents negative confidence. Britons’ confidence in their personal finances…

Water regulator publishes decision on business retail price caps

19th December 2022 Business Utilities | #business utilities

Water regulator, Ofwat has published its final decision on changes to retail price caps. The price caps apply to smaller business customers (consuming less than 0.5Ml per year) who have not engaged in the market, for example, by switching retailers. On average, across all regions in England, Ofwat’s decision will lead to final bills for…

Tesco Bank appoints Lending Director

19th December 2022 Appointments |

Tesco Bank has announced the appointment of Craig Bundell as its new ‘Help me Borrow’ Director. Blundell will lead Tesco Bank’s lending business, including all of Tesco Bank’s lending products which includes a range of credit cards, with over 1.9 million customers and personal loans, with more than 440,000 customers. Blundell, who joins from Hastings…

More than a quarter of people expect to start 2023 in debt

19th December 2022 Arrears and Recoveries | #debt

More than a quarter of people will be seeing in the new year in debt according to new research by Tesco Bank. The types of debts covered included informal debts such as borrowing from friends or family, as well as credit card spending, overdrafts, loans or buy now pay later spending, On average, people expect…

Allianz Trade appoints Commercial Director

19th December 2022 Appointments |

Allianz Trade has appointed Steve Stennett as its news Commercial Director. Stennett is responsible for fostering Allianz Trade’s UK and Ireland client, broker and partner relations, and delivering profitable growth through the steering of business development, commercial underwriting and marketing activities. He is a member of the UK & Ireland management team and reports to…

Care home insolvencies increase by 52% in a year as running costs spiral

19th December 2022 Business | #care home insolvencies

Insolvencies involving residential care businesses have increased 59% in the past year from 56 to 85, as they struggle to cope with mounting debt servicing costs and steep rises in energy bills according to research by international audit, tax, and advisory firm, Mazars Rebecca Dacre, Partner at Mazars said “The margins which care homes operate to…

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