Credit, Collections & Insolvency News
Chris Leslie, Chief Executive of the Credit Services Association (CSA), the UK trade body for debt collection and debt purchase, has been elected to the board of the Federation of European National Collections Association (FENCA) today at the Associations Annual General Meeting (AGM) in Berlin. FENCA represents the interests of the European credit management, debt…
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Aryza has announced plans to launch in North America with the appointment of a new Chief Executive Officer (CEO) in the region. Brent Reuter has been appointed as the new CEO to support the launch. Reuter has worked in the financial industry for more than 25 years and led First Data in Canada growing their…
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The number of UK sectors reporting a fall in output doubled in May, as inflation continued to drive down demand for goods and services, according to the latest Lloyds Bank UK Sector Tracker. Six out of the 14 sectors monitored by the Tracker saw overall output contract, compared to three in April. This was the…
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Apple has announced that it will launch its own Buy Now, Pay Later (BNPL) option. The iPhone maker’s Apple Pay Later service will allow users in the US to pay for purchases in four instalments over six weeks without being charged interest or other fees. The service will be available anywhere that accepts Apple Pay…
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Supply chain issues, rising energy costs or record levels of inflation are three of the biggest threats facing more than half (58%) of businesses in the next six months, according to new research by accountancy and business advisory firm, BDO. The bi-monthly survey of 500 leaders of medium-sized businesses reveals almost a fifth (18%) of…
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Businesses are increasingly confident that they can use high inflation to rebuild their margins, the monthly barometer by Lloyds Bank has found. Confidence among firms has risen by five points on the index to reach 38%, significantly higher than the long-term average of 28%. This marks the first increase since Russia launched its invasion of…
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Three-quarters of SMEs are worried about the long-term impact the cost of living crisis, soaring energy bills and rising inflation. Barclays’ SME Barometer, a quarterly survey of business sentiment, saw 51% say they were concerned that surging prices would dent consumer spending, while more than a quarter said they feared that having to increase their…
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Business confidence in the UK fell for a third quarter in a row, amid concerns on the tightening of the economy and rising inflation, according to latest survey results by the ICAEW. Sentiment tracked by ICAEW’s Business Confidence Monitor™ (BCM) for Q2 2022 put confidence at 18.6 on the quarterly index, down from its peak…
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Middle market businesses have hit the brakes on crucial people and business investment as inflationary pressure, recessionary fears, wage pressures and staff shortages all converge to reduce confidence. RSM UK’s latest Middle Market Business Index (MMBI), the first economic index to focus solely on middle market businesses in the UK, showed that fewer firms (41%)…
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The global economy remains challenged by supply chain issues and high energy prices, with the Russia-Ukraine conflict further increasing commodity prices and inflation, according to new a report by Atradius. The report highlights that global recovery from the impact of the pandemic has been thwarted by the Russia-Ukraine conflict, which is having a negative impact…
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Allianz Trade has predicted that business insolvencies will rise by 37% this year with the UK is set to become the first big European economy to reach pre-pandemic levels of corporate insolvencies. The research suggests the surge in insolvencies will be driven by the withdrawal of Covid support schemes, rising commodity prices, supply chain disruption,…
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The Office for National Statistics (ONS) has revealed that consumer price index inflation hit 9% in April, its highest level in more than 40 years. Commenting on today’s inflation figures for April, ONS Chief Economist Grant Fitzner said “Inflation rose steeply in April, driven by the sharp climb in electricity and gas prices as the…
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Latest Office for National Statistics (ONS) figures show that GDP fell 0.1% in March and the UK’s trade deficit, at £25.2 billion, is at its greatest since records began. Commenting on the figures, Federation of Small Businesses (FSB) National Chair Martin McTague said “Our economic recovery is stumbling when it’s barely had a chance to…
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