Credit, Collections & Insolvency News
As MPs successfully push the UK government to drop Clause 5, the Mental Health Foundation is calling on the Government to also drop Universal Credit measures. Reforms to the benefits system that the Mental Health Foundation called ‘counterproductive and cruel’ have been partially curtailed following concessions by the UK government ahead of a vote on…
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Cornwall Insight has forecasted that the energy price cap will fall to £1,698 a year for a typical dual fuel consumer in October. Thi is £22 lower than the July 2025 cap of £1,720 and a slight decrease on the prediction released in May. Although a drop of just 1%, the forecast offers some relief…
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Santander UK has announced that it will acquire TSB from Banco Sabadell in a £2.9 billion deal. The all-cash takeover values TSB at five times its projected 2026 net income. The acquisition will add five million customers, £34 billion in mortgages, and £35 billion in deposits to Santander’s portfolio, resulting in a combined customer base of…
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A survey from the Confederation of British Industry (CBI) indicates that private sector businesses anticipate a decline in activity over the next three months. The companies expect activity to fall at a firm pace in the three months to September (weighted balance of -18%). Expectations are less negative relative to May, but extend a period…
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Two-thirds (64 per cent) of wishful parents are dreaming of the day when the financial tide turns and they no longer have to support their grown children, but instead get to enjoy being on the receiving end of their generosity according to research by Moneyfarm. In fact, mums and dads hope the financial scales will…
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The Institute of Directors (IoD) has announced the appointment of Liz Barclay as Special Adviser for Small Business and Entrepreneurship. Barclay will work with the IoD to advise on ways that SMEs can adopt technology to help create a growth mindset and risk appetite which will allow them to succeed. Jonathan Geldart, Director General of…
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UK small and medium sized enterprises (SMEs) are being significantly impacted by the upending of the global trading environment, propelled by the US administration’s tariff policies, according to new research from independent funder Bibby Financial Services (BFS). BFS’s Trading Places report, which surveyed over 500 UK SMEs that trade overseas, found over half (55%) see…
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A West London building contractor who overstated his company’s turnover by almost £200,000 to secure a maximum-value Covid Bounce Back loan has been banned as a director and ordered to repay the money he was not entitled to. Tahir Haq obtained a £50,000 Bounce Back loan for building completion and freight transport company Integral Maintenance…
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