Credit, Collections & Insolvency News
Global business optimism continues to decline, revealing a 1.3% quarter-over-quarter decline in business optimism according to latest research by Dun & Bradstreet. The fall in confidence follows a sharp 12.9% drop seen in the prior quarter. Persistent global economic uncertainty and rising trade protectionism continue to dampen global business sentiment. While financial confidence dropped 8.6%…
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Companies House has announced the launch of a new service that allows individuals to verify their identity through an Authorised Corporate Service Provider (ACSP). The introduction of identity verification is one of the key changes to UK company law under the Economic Crime and Corporate Transparency Act 2023. This landmark legislation gave Companies House new…
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The British Chambers of Commerce (BCC) has warned that a 10% tariff on goods exported to the US will hit UK traders, with two in five businesses which export to the US saying they will suffer a ‘significant negative impact’ from charges. Around a third of British businesses exposed to tariffs are planning to raise…
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Redwood Bank has announced it has appointed Tina Kokkinos as Non-Executive Director Kokkinos has more than 20 years of experience across leading financial institutions and brings a wealth of knowledge in strategy, operations, risk and governance. Her background includes senior leadership roles at JPMorgan, HSBC and fintech start-up Siege FX, as well as current board…
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A man who ran a Joinery business in Essex has been handed a 15-month suspended sentence, and 100 hours unpaid work, after he claimed a second Covid Bounce Back Loan and used some of the money for personal spending. Charles Ling had already received a £20,000 Bounce Back Loan in May 2020 which was both…
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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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