Credit, Collections & Insolvency News
Almost half of SMEs (49%) across the manufacturing sector have aspirations for growth over the next three months, compared with only 31% six months ago immediately after the EU referendum, according to the new quarterly research from Hitachi Capital’s British Business Barometer. The percentage of SMEs anticipating decline is also down from 12% to 9%,…
Read moreDuff & Phelps has announced that Michael Bills has been promoted to a Managing Director in its London office as part of the Restructuring Advisory practice following two successful secondments to leading Asset Based Lending institutions. Bills specialises in providing strategic financial advice and planning to borrowers and lenders with ABL facilities. This advisory work…
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The Cheque and Credit Clearing Company (C&CCC) – the organisation that manages the cheque clearing system – has today announced details of the launch of an industry-wide image-based cheque clearing system that will speed up cheque processing significantly for customers across the UK. The new system will go live with some banks and building societies…
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New research from Skipton Building Society has found that the majority of us spend longer each day on making a cup of tea than we do pausing to look at our finances. Skipton Building Society interviewed 2,000 UK adults about their financial habits, highlights of the report include: Three in five people (57%) spend half…
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The House of Lords EU Justice Sub-Committee has published a report on Brexit which looks at justice for families, individuals and businesses. The report has found that : The current system for civil justice cooperation across the EU member states – in the development of which UK expertise has been prominent – works well. Disputes that…
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Real consumer spending growth will moderate from around 3% in 2016 to around 2% in 2017 and 1.7% in 2018, according to PwC which summarises that the impact of Brexit on consumers will also vary by category of spending. In an extract from the UK Economic Outlook, which launches in full on 21st March 2017,…
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The Department for Work and Pensions (DWP) has published the latest official statistics on household incomes, covering the financial year 2015–16. IFS researchers have summarised the headline trends observed in the new data and placed them in historical context in order to understand better changes in living standards in recent years. Key findings include: Average household…
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The Department for Work & Pensions (DWP) has downplayed the impact of the problems in the roll out of Universal Credit on claimants and local councils, claiming that rent arrears associated with Universal Credit “are likely to be of a short duration” and “should not present an insurmountable obstacle to landlords”. This is despite its…
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Henry Howard Finance (HHF), has added to its management team by appointing Anne Williams as Chief Operating Officer (COO). Williams has more than two decades of senior management experience at GE Capital. Joining GE Capital in 1994, Mrs Williams quickly rose up the ranks, eventually spending more than three-and-a-half years as fulfilment leader, helping the…
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Atradius has appointed Mike Thomas as Head of Risk Services for UK & Ireland. Thomas has nearly two decades of experience within Atradius, joining in 1999. Initially appointed as an underwriting and recovery specialist his roles included underwriting Atradius’ intensive care portfolio. Mr Thomas then became responsible for managing higher risk multinationals within the automotive,…
Read moreHere is an overview of The Money Charity’s latest statistics for March 2017: Personal debt in the UK The average total debt per household – including mortgages – was £56,310 in January. The revised figure for December was £56,148. Based on January 2017 trends, the UK’s total interest repayments on personal debt over a 12…
Read moreA collaborative working agreement between the National Association of Commercial Finance Brokers (NACFB), Towergate Insurance and Funding Circle, means that NACFB members can now arrange an unrestricted number of commercial loans with peer-to-peer lenders without jeopardising their insurance cover. Under the terms of the trade body’s membership, NACFB brokers must have professional indemnity insurance which…
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Aldermore have released a new report which reveals that a fifth (19%) of all small and medium-sized enterprises (SMEs) – equating to 1.04 million firms in the UK with under 250 employees – have missed out on at least one new business opportunity in the past 12 months due to a lack of available finance.…
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