The UK economy grew by 0.7 per cent in the third quarter, its fastest expansion in two and a half years, driven by widespread growth in the service sector, according to figures from the Office for National Statistics (ONS). The growth was up from 0.5% in the second quarter and in line with economists’ forecasts.…
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Specialist lender Cambridge & Counties Bank has selected leading tech firm and AI specialist SnapLogic, the AI operational layer for the Agentic Enterprise, to further enhance its asset finance capabilities following a period of strong lending growth and improved service to brokers. In terms of asset finance, the bank’s focus on service delivery with a…
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New research by Everflow has shown that 96% of hospitality SMEs say rising water, waste or telecoms costs have put their financial viability at risk, with seven in ten reporting a significant impact. Some have frozen pay, paused recruitment or cut services as a result. The findings highlight the growing pressure on hospitality businesses, with…
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A surge in services sector spending, alongside AI and defence-related manufacturing, pushed business output to its highest level in more than four years, while business optimism has also strengthened, according to the latest Business Trends report from accountancy and advisory firm BDO LLP. BDO’s Output Index climbed to 100.46 in October, up from 97.37 in…
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The Monetary Policy Committee (MPC of the Bank of England has moved decisively to curb inflationary pressures by raising the interest base rate from 3.75% to 4%. Commenting on the 8-1 decision of the Monetary Policy Committee of the Bank of England to increase interest rates to 4%, Anna Leach, Chief Economist at the Institute…
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Funding Circle has anouncesd the appointment of Rob Straathof as Chief Executive Officer (CEO), subject to regulatory approval. Straathof brings a combination of deep SME finance expertise, credit experience and a track record of leading fintech businesses. The appointment follows a search process led by the Nomination Committee, supported by an independent executive search firm, which…
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A Manchester-registered company has been shut down following an Insolvency Service investigation, which found it was providing misleading services to directors of companies in financial difficulty. Clark Sinclair Limited’s promotional emails suggested directors could avoid reputational damage by selling their companies before liquidation. The company offered to find buyers for companies with debts, telling clients…
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Following HMRC’s announcement of its plan to take PAYE and VAT from businesses through direct debit, UHY Hacker Young has warned that such measures could tip several businesses into insolvency. From April 2029, the UK government plans to introduce mandatory automated Direct Debit payments for VAT and PAYE (Pay As You Earn) return liabilities The…
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Suppliers to the retail sector are urged to closely monitor payment risk as businesses enter the critical Christmas trading period amid weak consumer confidence and rising costs. Trade credit insurer Atradius says the golden quarter could expose a growing divide between resilient retailers, who can keep investing, and those facing greater financial pressure. Atradius’s latest…
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Latest Red Flag Alert research from BTG has revealed that the number of UK businesses in ‘significant’ financial distress increased by 1.6% year-on-year to a record 738,144 in Q3 2026 and the highest level since the research began in 2004. The findings indicate the extent of the financial pressures facing businesses. BTG’s latest research also…
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The IoD Directors’ Economic Confidence Index, which measures business leader optimism in prospects for the UK economy, rose to -45 in October 2026 in the run-up to the Budget, from -54 in September, the highest the index has been since May 2025. The Chancellor’s Budget did not have a significant impact on the headline index.…
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Business confidence rose six points to 47% in October as economic optimism and firms’ own trading outlook improved, according to the latest Lloyds Business Barometer. Business sentiment is higher than at the start of the year, with firms referencing strong demand, while cost pressures continue to present a challenge. Optimism in the wider economy rose…
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A snap poll by the Institute of Directors following the Chancellor’s Autumn Budget statement, more than half of business leaders (53%) viewed the Budget negatively. In contrast, just 19% viewed the Budget positively, giving an overall net satisfaction score of -35%. Business leaders did, however, express support for several individual measures announced by the Chancellor:…
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