The Institute for Fiscal Studies (IFS) has suggested the UK could be heading for a recession, warning that a trade deal may not be enough to prevent a slump in economic growth. Paul Johnson, Director of the Institute for Fiscal Studies (IFS), said “The UK may be heading toward a recession, even if the Government…
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ICAEW has announced changes to its leadership team. Iain Wright has been appointed Chief Policy and Communications Officer. In this role, he will oversee ICAEW’s influence, advocacy and public affairs work, ensuring a coordinated approach to the Institute’s global policy and communications activities. Pamela Harding will take up the role of Chief People Officer, having…
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LHV Bank has announced a partnership with LendingMetrics. LHV began operating in the UK in 2018 as a branch of the Estonian-based AS LHV Pank, but since securing its UK banking licence in May 2023 functions as a standalone entity, LHV Bank. The bank provides services such as banking for global fintechs, SME lending for…
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US import tariffs introduced by Donald Trump are set to inflict a trade war, which is expected to reduce economic growth by 0.8% over the next two years, leaving the UK £21.6 billion worse off by 2027, according to research by KPMG. KPMG says that a more severe scenario, if trade frictions continue to escalate,…
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Financial services leaders are less confident about profitability in the second quarter of 2025 compared to the first quarter, as they expect geopolitical events to increasingly weigh on revenues over the next five years, according to KPMG’s latest UK Financial Services Sentiment survey. The quarterly poll, which tracks sentiment among over 150 leaders working across…
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Banks are accelerating their investment in trade finance technology to unlock growth, according to research by FIS. The research found that over the next 12 months, 55% of global banks surveyed plan to increase spending on their trade finance platforms. For all survey respondents, key priorities include improving operational efficiency (28%), enhancing customer experience (28%),…
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New data from the Federation of Small Businesses (FSB) reveals that small firms’ confidence levels are in a rut amid a rising tide of costs and taxes. FSB’s latest Small Business Index (SBI) for Q1 2025 shows a modest improvement in small business confidence, now at -40.7 points, compared to -64.5 in Q4 2024, though…
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A snap poll of 562 Institute of Directors members following President Trump’s tariffs announcement has found that over a third (37%) of business leaders expect to be impacted by the tariffs and of those, over two-thirds (70%) expect their profits to decrease as a result. In response to the tariffs, 35% of members will be…
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Asset Based Lending (ABL) and commercial lending specialist IGF has announced that it’s Executive Director, John Onslow has announced his steps into retirement after nine years of leadership. Since founding IGF in its current guise, Onslow has been instrumental in driving the business forward. Under his leadership, IGF has grown its lending portfolio from approximately…
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President Donald Trump has set out plans for new import taxes on all goods entering the US, with a baseline tariff on all imports of at least 10% and higher rates for countries that the White House described as the ‘worst offenders.’ While goods from the UK are set to face a new 10% tariff,…
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Redwood Bank has announced it has appointed Sergio Cruz as Chief Financial Officer (CFO) Cruz joined Redwood in 2018 as Head of Risk, before moving to Director of Risk, Director of Treasury, Chief Treasury and Strategy Officer and ALM, before becoming Deputy CFO. He had previously worked at PWC, One Savings Bank and Amicus Finance.…
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The Institute of Directors’ (IoD) Economic Confidence Index, which measures business leader optimism in prospects for the UK economy, rose slightly to -58 in March 2025 from -64 in February. Business leader’ confidence in their own organisations also rose slightly to +5, from +2 in February. In terms of underlying indicators, cost expectations remained at…
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British business confidence remained stable at 49% in March, matching February’s six-month high, according to the Lloyds Bank Business Barometer. The data showed that retailers showed particularly strong confidence, aligning with recent data indicating a surprising rise in retail sales volumes in February. Retail confidence rose seven points to 58 per cent, a post-pandemic high,…
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