UK-listed companies profit warnings rise for seventh consecutive quarter

21st July 2023 Commercial Credit Management | #business

UK-listed companies issued 66 profit warnings between April and June 2023, marking the highest second quarter total in three years, according to EY-Parthenon’s latest Profit Warnings report. The report found that warnings from UK-listed companies have risen year-on-year for the seventh consecutive quarter, the longest run of consecutive quarterly increases since 2008. The highest number of…

Read more

Third of adults don’t think BNPL will lead to debt

21st July 2023 Alternative Consumer Lending | #BNPL#debt

16 million people are still unaware you can get into debt using ‘Buy Now Pay Later’ (BNPL) services*, according to research from lender, Creditspring.  A third of people (31%) still don’t think that BNPL purchases can lead to debt, however, this jumps to over half (51%) for those aged 18-24 who are 29% more likely…

Read more

FCA stops 30% more firms from operating

21st July 2023 Consumer Lending | #FCA

The Financial Conduct Authority (FCA) has saiD it has blocked nearly 30% more companies from operating over the past 12 months than in the previous year. The regulator said it had cancelled the authorisation of 627 firms in the year to the end of March. The FCA said the proportion of firms it did not…

Read more

Car repossessions rise to the highest level for nearly two years

21st July 2023 Arrears and Recoveries | #car finance repossessions

Voluntary terminations (VTs), voluntary surrenders and repossessions for cars rose in May 2023 to the highest level for nearly two years according to the Motor Auction Group (MAG). It is predicted that the figure will rise dramatically over the next 12 months as interest rates and the rising cost of living continues to negatively impact…

Read more