Credit, Collections & Insolvency News
Following the cut in the Bank Rate last month, the first since March 2020, almost half of UK adults (44%) think that based on the current economic conditions the Bank of England’s Monetary Policy Committee (MPC) should cut the Rate again at lunchtime today. Around a quarter (23%) want to see a 0.50 percentage point…
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A new survey by KMPG has found that business leaders see Generative Artificial Intelligence (GenAI) as a positive disruptor. The research found that Chief Executive Officers (CEOs) see GenAI as an opportunity to change the nature of work. Two-thirds of CEOs (65% and 76% globally) see GenAI as a positive disruptor with 68% (65% globally) agreeing…
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Half of adults have cut back spending on two or more essentials, including energy, water, broadband and car insurance, in the last year according to latest research by the Citizens Advice. The data has also revealed that people are in the dark about almost £2 billion of available financial support. Social tariff schemes, which reduce…
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Latest Office for National Statistics (ONS). data has shown that Inflation remained steady at 2.2 per cent in August, slightly above the Bank of England’s two per cent target. Rising airfares were balanced by lower fuel prices and a slowdown in restaurant price increases. The Bank of England is expected to keep interest rates at…
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Inflation in the UK remained unchanged at 2.2% in August, according to the Office for National Statistics (ONS), aligning with economists’ predictions. However, core inflation increased to 3.6%, up from 3.3% in July. The Bank of England, which recently cut rates for the first time since the pandemic, is expected to proceed cautiously due to…
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The Lending Standards Board (LSB) is developing a first-of-its-kind inclusive Code to drive essential improvements in access to finance for Ethnic Minority-Led Businesses (EMBs). The Code’s development follows the publication of the LSB’s 2023 report on the barriers to finance faced by EMBs, which also underscored the crucial role that financial institutions can play in…
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Ahead of a ‘painful’ Budget expected this autumn, new research from independent SME funder Bibby Financial Services (BFS) reveals that UK SMEs consider tax incentives and access to finance as two critical areas that need to be addressed by the Government to unlock growth. Data from BFS’s Q3 2024 SME Confidence Tracker, which surveyed 1,000…
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