A building contractor who fraudulently claimed a £50,000 Covid Bounce Back loan has received a 13-month suspended sentence. Florin-Petrica Bodale operated as a building contractor offering plumbing, heating and air-conditioning installation and was based in Harrow, London. In November 2020, he successfully applied to a bank for a Covid Bounce Back loan of £50,000. But…
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A survey by Deloitte has revealed that concerns about geopolitical risks among FTSE 350 finance chiefs were at their highest level since the onset of the Ukraine conflict. Concern has only grown since US President Donald Trump started his trade war., According to the survey, CFOs of the UK’s largest businesses are assuming their most…
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New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew in February 2025 by 1% compared with the same month in 2024. In the first two months of 2025, new business was 2% higher than in the same period in 2024. The…
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The UK economy grew by 0.5% in February, according to the Office for National Statistics (ONS). The data showed growth following a 0.1% fall in January. The services sector expanded by 0.3 per cent, the production sector grew by 1.5 per cent and construction activity increased by 0.4 per cent. Commenting on the GDP figures,…
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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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