New research by the Financial Services Compensation Scheme (FSCS) shows that almost two-thirds of respondents feel reassured knowing that FSCS protects their money if their bank, building society or credit union fails. On 30 January 2017, the FSCS protection limit increased from £75,000 to £85,000 following a consultation from the Prudential Regulation Authority. The research by…
Read more
New nationally representative research across 2,000 UK adults from Asset Match has revealed resounding consumer confidence towards British businesses in light of Brexit negotiations triggered on 29 March. It found: 53% of UK adults – 27.21 million people – think Brexit will open up new opportunities for UK companies to expand globally This figure rises to 65%…
Read more
The slowest-paying local councils took on average 38 days to pay their suppliers last year, says new research by the Asset Based Finance Association (ABFA), the body representing the Invoice finance and asset based lending industry in the UK and Ireland. Payment times to suppliers by local councils have remained persistently high in the past…
Read more
The British Business Bank today announces that it is providing a £37.4m facility to Shire Leasing to increase its funding to smaller businesses for the acquisition of business-critical assets. The transaction is being made under the Bank’s ENABLE Funding programme, which aims to increase the supply of funding to smaller businesses in the UK. The…
Read more
The Asset Based Finance Association (ABFA) has appointed Michael Walsh as Chairperson of the organisation in Ireland and Mark O’ Rourke as Vice Chairperson. Walsh, who has over 25 years’ experience in the Irish banking sector, is currently Director of Ulster Bank Invoice Finance. Michael has held a number of senior roles within the company…
Read more
Adrian Hyde, a Partner at CVR Global LLP, has been appointed as the new president of R3. Throughout his career, Hyde has worked on a wide range of insolvency matters, primarily focussed on contentious insolvency, tackling crime, and fraud related cases, along with overseas issues at offshore jurisdictions and business centres. Prior to joining CVR,…
Read moreThe Council of Mortgage Lenders estimates that gross mortgage lending reached £21.4 billion in March. This is 19% higher than February’s lending total of £17.9 billion, and 19% lower than the £26.3 billion lent in March last year. The sharp fall in year-on-year lending was expected, as March last year saw significant rises in activity…
Read more
Households are experiencing the tightest squeeze on their spending power since the summer of 2014, according to Markit’s Household Finance index. A “sharp and accelerated” squeeze on households’ financial well-being is largely being driven by renewed pressures on the amount of cash available to spend – which has fallen at the fastest pace seen since…
Read more
According to the National Crime Agency’s Strategic Cyber Industry Group, in its Cyber Crime Assessment report 2016, there is “A need for a stronger law enforcement and business partnership to fight cyber crime” In this article, Andrew Sheldon MSc, one of the UK’s leading experts in the field of digital forensics technology and application, explains how the…
Read more
New research from insurer Royal London has found that over £400 billion in wealth being held by Britain’s grandparents is set to cascade down through the generations to the benefit of Millennials in the coming years. Although most of the wealth held by the grandparents’ generation will be passed on initially to their baby boomer…
Read more
New forecasts by economics consultancy the Centre for Economics and Business Research (Cebr) – show that the UK economy will grow by 1.7% in 2017, only marginally behind last year’s 1.8% growth. However, underneath this headline figure, which is bolstered by an improving outlook for exports, is a rapidly deteriorating picture for household finances, with…
Read more
Belfast firm MKB Law has appointed James McIlveen to join its’s debt recovery team as a legal executive. McIlveen will be dealing exclusively with debt recovery and collection matters. McIlveen said: “I have accumulated over 30 years of commercial litigation experience, and was admitted as a member to the Institute of Credit Management in December 2002. I…
Read moreOne in five businesses has been victims to cyber-attacks in the past year, according to the results of a survey released by the British Chambers of Commerce (BCC). The survey of more than 1,200 businesses across the UK found that 20% had been hit by a cyber-attack in the last 12 months. Big businesses are…
Read more