Credit, Collections & Insolvency News
A snap poll of 562 Institute of Directors members following President Trump’s tariffs announcement has found that over a third (37%) of business leaders expect to be impacted by the tariffs and of those, over two-thirds (70%) expect their profits to decrease as a result. In response to the tariffs, 35% of members will be…
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Latest data has shown that in Quarter 1, business closures in the UK surged to their highest level since 2021, this was before the impact of US trade tariffs and the latest date for the government’s increase in National Insurance contributions. According to insolvency notices in the Gazette, 2,718 companies shut down between January and…
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President Donald Trump has set out plans for new import taxes on all goods entering the US, with a baseline tariff on all imports of at least 10% and higher rates for countries that the White House described as the ‘worst offenders.’ While goods from the UK are set to face a new 10% tariff,…
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Latest analysis by Allianz Trade has predicted that global business insolvencies will keep rising over the next two years. Insolvencies rose by 10% in 2024, and are expected to grow by 6% in 2025 and 3% in 2026. This would result in five successive years of increasing insolvencies (2022 – 2026). The UK bucks both…
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A new study from Juniper Research has found the number of Open Banking API calls globally will increase 427%, from 137 billion in 2025. The report predicts Artificial Intelligence (AI) will become increasingly integrated with open banking offerings; creating personalised banking solutions for users for finance management and customisable loan allowances, driving the growth of…
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Business insolvencies in Ireland hit their highest level in six years according to research by PwC. Insolvencies increased by 16 per cent, although they came in below expectations as the fourth-quarter saw a drop off in company collapses. The total figure for 2024 was 852, which was well shy of PwC’s forecast that insolvencies would…
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The Organisation for Economic Co-operation and Development (OECD) expects the UK economy to grow at a slower pace this year than it had previously forecast. However, it has upgraded its growth forecast for next year. The think-tank expects 0.9% growth this year, down from 1.1%, while 2025 is forecast to see growth of 1.7%, up…
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Allianz Trade has forecasted an 11% rise in 2024, followed by an additional 2% increase in 2025, according to its latest Global Insolvency Report. In its latest report it reveals a more severe outlook for the global business landscape, with insolvencies projected to climb by 11% in 2024 – an even steeper rise than previously…
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Research from Dun & Bradstreet has found that 85% of UK organisations don’t believe that enhancing supply chain resilience and diversification is crucial for future-proofing their businesses, yet 77% of business leaders are concerned about their level of resilience for future disruptions. The findings reveal that over half of UK businesses (57%) admit that their…
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The global economy is continuing growing at a modest pace, according to the OECD’s latest Economic Outlook. The Economic Outlook projects steady global GDP growth of 3.1% in 2024, the same as the 3.1% in 2023, followed by a slight pick-up to 3.2% in 2025. The impact of tight monetary conditions continues being felt, particularly in…
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Deceased account management specialist Phillips & Cohen Associates (PCA) has announed it has acquired USA-based Estate Information Services (EIS). EIS has long-standing partnerships with some the world’s largest and most sophisticated financial services organizations, including major banks and credit card companies. EIS is fully licensed across the US and is recognized as a leading provider…
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A new study from Juniper Research, found that by 2028, the Buy Now, Pay Later (BNPL)userbase will increase by 107%, from 380 million users in 2024. Banks and super apps are leveraging their positions to underrepresented demographics incentivising BNPL through consolidated offerings tailored to consumers, such as integrated eCommerce platforms. Juniper Research found that despite…
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New research by Allianz Trade in its latest report on global Days Sales Outstanding (DSO) and Working Capital Requirements (WCR) has found that the looming profitability squeeze could extend payment delays further The research found that profitability is the number one driver of payment terms in Europe, more impactful than financing or the business cycle.…
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