Credit, Collections & Insolvency News
New research by Dun & Bradstreet has found that almost half (43%) of global business leaders see energy price increases as their biggest challenge this year, despite Western countries’ best efforts to impose energy spend caps over the winter months and control inflation. Dun & Bradstreet which surveyed 3,396 business leaders across 18 countries revealed…
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The board of Directors of Intrum AB has appointed Andrés Rubio President and Chief Executive Officer (CEO) of Intrum. Rubio has a background from several management positions (including Cerberus, Apollo Management International and Altamira Asset Management) and was elected Board member of Intrum in 2019. Magnus Lindquist, Chairman of the Board of Intrum said “I…
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Nova Credit has announced it has received Financial Conduct Authority (FCA) authorisation permissions in order to provide credit references to operate in the UK. US founded Nova Credit, is a consumer-permissioned credit bureau which it says is on a mission to accelerate financial inclusion for immigrants globally. Nova Credit’s technology unlocks access to over 2…
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The World Bank has warned that the global economy is perilously close to falling into recession, pointing to higher inflation and interest rates among the factors that could hit growth. The World Bank expects the world economy to grow by 1.7% this year, this down from the 3% it predicted in June. Growth of 1.7%…
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The UK economy is forecast to fall into a recession in 2023, driven by tighter financing conditions, further increases in energy bills and weak consumer confidence, before finding a weak recovery in 2024, according to Allianz Trade. It is predicted that in 2023, the UK economy will shrink by -0.9%, compared to just -0.3% for…
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UK businesses expect to be hit the hardest by inflation, according to new research from Taulia. Nearly half (48%) of UK businesses expect inflation to get worse in the next 12 months, higher than businesses in Germany (42%), Singapore (35%) and the US (21%). The findings come at a time where nearly nine in 10…
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New research from Allianz has found that the rebound in global business insolvencies is already a reality with insolvencies set to rise 10% in 2022 and they predict to rise a further 19% in 2023. Allianz says that 2023 will see a catch up with pre-pandemic levels by the end of next year. High energy…
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Almost two-thirds of consumers believe banks and other financial providers should be doing more to help their customers during difficult economic times. While the majority of people in the UK plan to cut back on both essential and non-essential spending, one in five (19%) people in the UK say they still plan to borrow more…
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The 2021 European Fraud Map produced by global analytics firm FICO, with data from Euromonitor International and UK Finance has indicated that the UK and the Nordic region continue to lead Europe both in terms of digital transformation and fraud loss reduction. Denmark and Sweden achieved the highest percentage decreases in losses while the UK…
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The Financial Conduct Authority (FCA) has appointed Ruairi O’Connell, OBE, as the new Director of International. O’Connell will join the FCA from the Home Office where he is Director, International. Ruairi has extensive experience in both the Home Office and the Foreign Office, including as British Ambassador to Kosovo. He will be responsible for helping…
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Britain’s toxic combination of low growth and high inequality has left it trailing behind the comparable economies of Australia, Canada, France, Germany and the Netherlands, with disastrous consequences for low- and middle-income households according to a new report from the Resolution Foundation. The report notes that the country is approaching a decisive decade of economic…
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Arrow Global has announced the appointment of Reza Atighi as Chief Executive Officer (CEO) to its Amersfoort-headquartered Vesting Finance Servicing B.V in the Netherlands. Atigh brings a wealth of experience to Vesting Finance having worked in financial services for more than 20 years. He joins Vesting Finance from Intrum where he was, most recently, CEO…
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Coface’s 2022 Asia Corporate Payment Survey has highlighted the credit risks in the Asia-Pacific region. The report found that improved economic conditions in 2021 contributed to a notable fall in the duration of payment delays across Asia-Pacific, dropping from 68 days on average in 2020 to 54 days in 2021, the lowest level in 5…
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